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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 01:00 UTC−0.0088%/8h= −9.7% APRnext payment −$0.11 per $10,000 · paid last 24h −0.008%
Price spread now: Bullet against Extended+0.025%7-day average +0.061% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$150.152% of the position
Long on ExtendedShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.050%−$5 on $10k
Price spread, last 7 days+0.003%$0 · spread now +0.025%, 7d avg +0.061%
Together, before fees−0.048%+ Points / potential airdropExtended: Active · farm board−$5 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bullet is 0.036% cheaper against Extended than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.061%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended ETH-USD2,765.90.0104pay 0.0013% / 1h6m 10s$30.9M$74.4M50x
ShortBullet ETH-USD2,766.60.0016get 0.0002% / 1h6m 10s$184K$1.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against Extended. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$18.58
Price spread: +0.025% → +0.061%
−$3.61
Slippage, 4 orders
−$2.18
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$37.36
Costs to cover
0.152%
Break-even
never at this rate
Slippage from Extended: live order book, 3 min ago; Bullet: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Extended live order book, 3 min ago0.18 bp2.7 bp −$32.7 bp −$274.7 bp −$46812.2 bp −$6,087
Sell Bullet live order book, 3 min ago0.18 bp4.8 bp −$59.1 bp −$91doesn't fitdoesn't fit

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ETH/USDC PERP−0.0752%1h2,773.8+0.286%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,766.8+0.032%$5.6M$11.1M25xas long as short
Perpl ETH−0.0112%43m2,767.3+0.050%$322K$6.2M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,769+0.112%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0032%1h2,766.7+0.029%$169K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,770.8+0.177%$872K$3.7M25xas long as short
dYdX ETH-USD+0.0001%1h2,768.6+0.099%$12.3M$43.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,767.2+0.049%$22.4M—200xas long as short
Bullet ETH-USDshort+0.0016%1h2,766.6+0.025%$184K$1.7M20x
OKX ETH-USDT-SWAP+0.0033%8h2,767.4+0.054%$1.70B$10.96B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex ETHUSDT+0.0036%8h2,767.6+0.061%$269.3M$65.8M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0043% / S −0.0009%1h2,767+0.041%$12.7M—200xas long as short
SoDEX ETH-USD+0.0048%1h2,767.1+0.044%$55.1M$187.7M40xas long as short
Aster ETHUSDT+0.0051%8h2,767.5+0.058%$260.6M$849.7M200xas long as short
Aevo ETH-PERP+0.0056%1h2,765.3−0.020%$5.0M$156K20xas long as short
MEXC ETH_USDT+0.0059%8h2,767.3+0.050%$1.61B$2.66B500xas long as short
Binance ETHUSDT+0.0060%8h2,767.4+0.056%$6.47B$16.03B150xas long as short
Aftermath Perps ETHUSD+0.0072%1h2,771+0.184%$31K$21K20xas long as short
HTX ETH-USDT+0.0074%8h2,767.6+0.062%$1.07B$1.22B200xas long as short
Bitget ETHUSDT+0.0080%8h2,767.1+0.044%$2.10B$2.82B150xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,768.6+0.098%$60.3M$4.40B50xas long as short
Gate ETH_USDT+0.0082%8h2,766.8+0.033%$3.37B$9.11B200xas long as short
Vest ETH-PERP+0.0086%1h2,768+0.077%—$870K50xas long as short
KuCoin ETHUSDTM+0.0089%8h2,766.9+0.037%$419.7M$589.3M100xas long as short
Lighter ETH+0.0096%1h2,768+0.075%$115.0M$460.3M50xas long as short
Lighter RH ETH+0.0096%1h2,769.3+0.121%$25.5M$112.2M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,771.9+0.218%$15.9M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,766.7+0.029%$485K$2.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,766.7+0.027%$14.5M$112.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,769.1+0.116%$3.16B$2.10B25xas long as short
Pacifica ETH+0.0100%1h2,768.4+0.091%$31.3M$328.9M50xas long as short
Bybit ETHUSDT+0.0100%8h2,767.6+0.062%$2.50B$4.27B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,766.3+0.015%$2.8M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,767.4+0.053%$2.8M$16.7M25xas long as short
Bulk ETH-USD+0.0100%1h2,771.7+0.210%$172.0M$293.3M25xas long as short
BingX ETH-USDT+0.0100%8h2,766.8+0.031%—$1.20B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,769.6+0.134%$15.1M$42.1M50xas long as short
Variational Omni ETH+0.0100%8h2,766.4+0.018%$134.4M$347.2M—as long as short
edgeX ETHUSDC+0.0100%4h2,773.2+0.265%$184.0M$750.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,772.6+0.243%$161.2M$83.8M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,773.5+0.276%$8.9M$31.4M100xas long as short
StandX ETH-USD+0.0100%1h2,771.4+0.199%$21.4M$64.4M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,766.4+0.018%$10.5M$7.9M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,767.2+0.045%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,768.5+0.094%$42.5M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,766.1+0.008%$969K$12.7M100xas long as short
Extended ETH-USDlong+0.0104%1h2,765.9long leg$30.9M$74.4M50x
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,770.3+0.158%—$35.9M500xas long as short
Kalshi KXETHPERP+0.0119%8h2,768.7+0.101%$8.1M$673.3M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,769+0.112%$97.8M$314.5M100xas long as short
Orderly PERP_ETH_USDC+0.0157%8h2,769+0.111%$32.6M$11.0M100xas long as short
Deribit ETH-PERPETUAL+0.0158%1h2,768.9+0.108%$259.1M$201.5M50xas long as short
Hibachi ETH/USDT-P+0.0160%1h2,771.8+0.213%$253K$1.5M20xas long as short
BloFin ETH-USDT+0.0180%8h2,770.2+0.157%$287.4M$175.1M150xas long as short
Reya ETHRUSDPERP+0.0215%1h2,766.6+0.026%$7.3M$1.1M25xas long as short