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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h +0.013%
Price spread now: BingX against gTrade (Gains Network)−0.092%7-day average — · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$180.184% of the position
Long on gTrade (Gains Network)Short on BingX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—needs both histories
Funding pays, the price is against you. BingX is 0.092% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.092% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 28 days of funding at the current rate ($0 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LonggTrade (Gains Network) ETH/USD2,781.6L +0.0006% / S −0.0006%pay 0.0001% / 1h20m 52s$22.5M—200x
ShortBingX ETH-USDT2,7790.0017get 0.0017% / 8h1h 20m—$1.18B—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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
$2.27
Price spread: −0.092% → 0.000%
−$9.2
Slippage, 4 orders
−$1.39
Fee gTrade (Gains Network): 3.5 bp × 2 orders
−$7
Fee BingX: 5 bp × 2 orders
−$10
Net
−$25.32
Costs to cover
0.184%
Break-even
85.1 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), 3 min ago; BingX: live order book, 8 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 gTrade (Gains Network) virtual book (oracle venue), 3 min ago0.52 bp4.0 bp −$44.1 bp −$415.0 bp −$4998.9 bp −$4,447
Sell BingX live order book, 8 min ago0.04 bp5.0 bp −$55.0 bp −$505.0 bp −$5045.8 bp −$2,894

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
Perpl ETH−0.0447%43m2,780.2−0.048%$288K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,780.1−0.051%$5.7M$12.1M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,781.5−0.002%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,771.8−0.351%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,780.1−0.052%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0020%1h2,776.8−0.171%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,780.8−0.026%$12.7M$45.6M50xas long as short
Phoenix ETH0.0000%1h2,779.6−0.070%$886K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDlongL +0.0006% / S −0.0006%1h2,781.6long leg$22.5M—200x
Phemex ETHUSDT+0.0015%8h2,781.2−0.013%$270.5M$68.7M150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDTshort+0.0017%8h2,779−0.092%—$1.18B—
OKX ETH-USDT-SWAP+0.0019%8h2,778.8−0.101%$1.71B$11.90B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,781.4−0.006%$13.0M—200xas long as short
Aster ETHUSDT+0.0038%8h2,779.3−0.082%$256.9M$991.9M200xas long as short
Bullet ETH-USD+0.0038%1h2,780.8−0.027%$180K$1.7M20xas long as short
Nado ETH-PERP+0.0057%1h2,779.8−0.064%$14.4M$118.1M50xas long as short
MEXC ETH_USDT+0.0061%8h2,779−0.091%$1.62B$2.67B500xas long as short
Binance ETHUSDT+0.0062%8h2,779.3−0.081%$6.44B$17.20B150xas long as short
Aevo ETH-PERP+0.0064%1h2,779.2−0.083%$5.0M$636K20xas long as short
Bitget ETHUSDT+0.0070%8h2,778.8−0.099%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0074%8h2,779.4−0.076%$3.29B$9.64B200xas long as short
SoDEX ETH-USD+0.0080%1h2,781.1−0.016%$55.4M$228.9M40xas long as short
ApeX Omni ETHUSDT+0.0091%1h2,773.6−0.286%$8.8M$32.6M100xas long as short
Bybit ETHUSDT+0.0093%8h2,779−0.090%$2.52B$4.62B150xas long as short
HTX ETH-USDT+0.0095%8h2,780.6−0.036%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,781.3−0.011%$115.5M$501.5M50xas long as short
Lighter RH ETH+0.0096%1h2,782.4+0.032%$25.4M$121.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,781.5−0.002%—$41.6M500xas long as short
KuCoin ETHUSDTM+0.0098%8h2,779.9−0.060%$423.3M$739.6M100xas long as short
Deribit ETH-PERPETUAL+0.0099%1h2,782.7+0.041%$258.4M$222.4M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,780.7−0.029%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,780.5−0.038%$478K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,781.6+0.002%$3.19B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,781.2−0.012%$31.3M$299.8M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,779.8−0.063%$2.8M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,782+0.016%$2.7M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,767.4−0.508%$166.0M$246.7M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,779−0.092%$15.2M$44.6M50xas long as short
Variational Omni ETH+0.0100%8h2,771.9−0.347%$137.1M$324.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,772.2−0.336%$181.4M$782.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,775−0.234%$161.4M$91.4M50xas long as short
StandX ETH-USD+0.0100%1h2,778.8−0.099%$21.5M$58.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,780.3−0.046%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,781.1−0.016%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,781−0.018%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,783+0.053%$42.8M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,779.7−0.067%$974K$14.0M100xas long as short
Extended ETH-USD+0.0104%1h2,778.3−0.117%$32.6M$77.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,782.6+0.037%$60.0M$4.61B50xas long as short
Kalshi KXETHPERP+0.0125%8h2,781.3−0.009%$8.5M$678.7M4.9xas long as short
Orderly PERP_ETH_USDC+0.0136%8h2,783.4+0.068%$32.6M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0169%1h2,782.4+0.031%$86.2M$332.3M100xas long as short
BloFin ETH-USDT+0.0182%8h2,780.5−0.039%$286.0M$195.0M150xas long as short
Reya ETHRUSDPERP+0.0192%1h2,779.7−0.068%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0216%1h2,780.5−0.038%$271K$1.5M20xas long as short