ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0203%/8h= +22.3% APRnext payment +$0.25 per $10,000 · paid last 24h −0.008%

Price spread now: Injective against gTrade (Gains Network)+0.092%55s7-day average +0.054% · 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—prices read too far apart to compare

costs, in and out, $10k−$690.691% of the position

Long on gTrade (Gains Network)Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.033%+$3 on $10k

Price spread, last 3 days (all we have)−0.219%−$22 · spread now +0.092%, 7d avg +0.054%

Together, before fees−0.185%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Injective is 0.038% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.054%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.033% in total (about 3.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.25 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ETH/USD	2,745.8	L +0.0006% / S −0.0006%	pay 0.0001% / 1h	0m 25s	$22.2M	—	200x
Short	Injective ETH/USDC PERP	2,748.3	0.0209	get 0.0026% / 1h	0m 25s	$118K	$22.5M	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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

Position, each leg$Hold fordaysFee gTrade (Gains Network)bpFee InjectivebpOrdersPrice spread, now +0.092%Rate

Funding earned: $42.67
Price spread: +0.092% → +0.054%: $3.77
Slippage, 4 orders: −$62.08
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$22.66
Costs to cover: 0.691%
Break-even: 10.7 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 4 min ago; Injective: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy gTrade (Gains Network) virtual book (oracle venue), 4 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	5.0 bp −$500	8.9 bp −$4,451
Sell Injective live order book, 4 min ago	16.17 bp	44.9 bp −$45	45.9 bp −$459	46.0 bp −$4,595	doesn't fit

ETH on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0112%	43m	2,746.4	+0.022%	$306K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,746.8	+0.038%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,746.8	+0.038%	$5.7M	$11.2M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,745.6	−0.006%	$12.1M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,748.4	+0.096%	$847K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,746.7	+0.035%	$10.8M	$42.0M	50x	as long as short
gTrade (Gains Network) ETH/USDlong	L +0.0006% / S −0.0006%	1h	2,745.8	long leg	$22.2M	—	200x
01 Exchange ETHUSD	+0.0040%	1h	2,747.3	+0.056%	$181K	$979K	50x	as long as short
BingX ETH-USDC	+0.0042%	8h	2,745.9	+0.004%	—	$18.5M	—	as long as short
OKX ETH-USDT-SWAP	+0.0053%	8h	2,745.6	−0.005%	$1.70B	$10.64B	100x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ETHUSDTM	+0.0066%	8h	2,745.6	−0.007%	$369.5M	$604.1M	100x	as long as short
Aster ETHUSDT	+0.0074%	8h	2,746.6	+0.030%	$252.6M	$843.9M	200x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,743.4	−0.085%	$4.9M	$167K	20x	as long as short
HTX ETH-USDT	+0.0083%	8h	2,747	+0.044%	$1.06B	$1.18B	200x	as long as short
MEXC ETH_USDT	+0.0083%	8h	2,745.2	−0.021%	$1.57B	$2.60B	500x	as long as short
Binance ETHUSDT	+0.0084%	8h	2,745.3	−0.016%	$6.38B	$15.83B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,748.1	+0.084%	$58.6M	$4.29B	50x	as long as short
ApeX Omni ETHUSDT	+0.0090%	1h	2,748.3	+0.092%	$8.8M	$31.2M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,746.6	+0.030%	$113.0M	$445.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,748.4	+0.095%	$24.7M	$108.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,747.5	+0.063%	—	$31.0M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,751.1	+0.193%	$16.2M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,746.7	+0.034%	$483K	$3.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,746.1	+0.011%	$13.9M	$107.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,748.4	+0.096%	$3.12B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,747.1	+0.048%	$31.7M	$334.3M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,745.8	0.000%	$2.46B	$4.19B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,746.8	+0.038%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,746.9	+0.042%	$2.8M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,745.7	−0.002%	$3.39B	$8.96B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,745.8	0.000%	$2.08B	$2.74B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,746.4	+0.022%	$15.0M	$41.3M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,746.6	+0.030%	$133.0M	$342.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,748.2	+0.088%	$182.1M	$701.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,748.5	+0.098%	$159.8M	$81.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,748.2	+0.088%	$21.3M	$69.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,747	+0.046%	—	$849K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,746.5	+0.027%	$10.7M	$8.5M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,745.2	−0.021%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,746.2	+0.016%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,747.5	+0.062%	$41.6M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,745.6	−0.006%	$962K	$12.0M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,746.9	+0.041%	$54.7M	$187.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,747.5	+0.063%	$267.5M	$65.7M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,746.2	+0.017%	$164.3M	$302.6M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,745.5	−0.009%	$30.6M	$72.7M	50x	as long as short
Aftermath Perps ETHUSD	+0.0108%	1h	2,747.4	+0.059%	$30K	$20K	20x	as long as short
Deribit ETH-PERPETUAL	+0.0132%	1h	2,748.3	+0.091%	$258.9M	$197.0M	50x	as long as short
Kalshi KXETHPERP	+0.0149%	8h	2,748	+0.081%	$7.9M	$672.6M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0182%	8h	2,748.3	+0.091%	$32.3M	$11.0M	100x	as long as short
Injective ETH/USDC PERPshort	+0.0209%	1h	2,748.3	+0.092%	$118K	$22.5M	52x
Reya ETHRUSDPERP	+0.0223%	1h	2,745	−0.028%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0232%	1h	2,750	+0.155%	$250K	$1.4M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,747.8	+0.075%	$88.1M	$313.6M	100x	as long as short