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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 01:00 UTC+0.0057%/8h= +6.3% APRnext payment +$0.07 per $10,000 · paid last 24h +0.027%
Price spread now: Arcus against GMX+0.011%7-day average +0.004% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on GMXShort on Arcus
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.001%$0 on $10k
Price spread, last 3 days (all we have)−0.032%−$3 · spread now +0.011%, 7d avg +0.004%
Together, before fees−0.033%−$3 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGMX ETH/USD [ETH-USDC]2,767L +0.0043% / S −0.0009%pay 0.0005% / 1h6m 21s$12.7M—200x
ShortArcus ETH-USD2,767.40.0100get 0.0013% / 1h6m 21s$2.8M$16.7M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Arcus against GMX. 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
$11.99
Price spread: +0.011% → +0.004%
$0.75
Slippage, 4 orders
no order book: not counted
Fee GMX: 6 bp × 2 orders
−$12
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Net
−$3.76
Costs to cover
0.165%
Break-even
9.2 days
Slippage unknown: GMX: no order-book sample; Arcus: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy GMX no order-book sample—————
Sell Arcus live order book, 3 min ago0.02 bp3.5 bp −$34.4 bp −$446.0 bp −$605doesn't fit
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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+0.244%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,766.8−0.009%$5.6M$11.1M25xas long as short
Perpl ETH−0.0112%43m2,767.3+0.008%$322K$6.2M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,769+0.071%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0032%1h2,766.7−0.012%$169K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,770.8+0.136%$872K$3.7M25xas long as short
dYdX ETH-USD+0.0001%1h2,768.6+0.057%$12.3M$43.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,767.2+0.007%$22.4M—200xas long as short
Bullet ETH-USD+0.0016%1h2,766.6−0.016%$184K$1.7M20xas long as short
Phemex ETHUSDT+0.0017%8h2,770.1+0.112%$269.6M$65.8M150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0033%8h2,766.5−0.021%$1.70B$10.96B100xas long as short
GMX ETH/USD [ETH-USDC]longL +0.0043% / S −0.0009%1h2,767long leg$12.7M—200x
SoDEX ETH-USD+0.0048%1h2,770+0.107%$55.2M$187.7M40xas long as short
Aster ETHUSDT+0.0051%8h2,767.5+0.016%$260.6M$849.7M200xas long as short
Aevo ETH-PERP+0.0056%1h2,765.3−0.062%$5.0M$156K20xas long as short
MEXC ETH_USDT+0.0059%8h2,766.6−0.015%$1.61B$2.66B500xas long as short
Binance ETHUSDT+0.0060%8h2,766.6−0.016%$6.47B$16.03B150xas long as short
Aftermath Perps ETHUSD+0.0072%1h2,771+0.142%$31K$21K20xas long as short
HTX ETH-USDT+0.0079%8h2,770+0.106%$1.07B$1.23B200xas long as short
Bitget ETHUSDT+0.0080%8h2,766.7−0.012%$2.10B$2.82B150xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,771.3+0.154%$60.3M$4.40B50xas long as short
Gate ETH_USDT+0.0082%8h2,766.8−0.008%$3.37B$9.11B200xas long as short
Vest ETH-PERP+0.0086%1h2,768+0.035%—$870K50xas long as short
KuCoin ETHUSDTM+0.0089%8h2,766.9−0.005%$419.2M$589.6M100xas long as short
Lighter ETH+0.0096%1h2,768.6+0.057%$115.0M$460.3M50xas long as short
Lighter RH ETH+0.0096%1h2,769.2+0.079%$25.5M$112.2M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,771.9+0.176%$15.9M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,766.7−0.012%$485K$2.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,766.7−0.014%$14.5M$112.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,769.1+0.074%$3.16B$2.10B25xas long as short
Pacifica ETH+0.0100%1h2,768.4+0.049%$31.3M$328.9M50xas long as short
Bybit ETHUSDT+0.0100%8h2,766.8−0.011%$2.50B$4.27B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,766.3−0.027%$2.8M$16.7M25xas long as short
Arcus ETH-USDshort+0.0100%1h2,767.4+0.011%$2.8M$16.7M25x
Bulk ETH-USD+0.0100%1h2,771.7+0.169%$172.0M$293.3M25xas long as short
BingX ETH-USDC+0.0100%8h2,766.4−0.025%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,769.6+0.093%$15.1M$42.1M50xas long as short
Variational Omni ETH+0.0100%8h2,769.2+0.076%$134.1M$347.1M—as long as short
edgeX ETHUSDC+0.0100%4h2,773.2+0.224%$184.0M$750.7M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,772.6+0.201%$161.2M$83.8M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,773.5+0.234%$8.9M$31.4M100xas long as short
StandX ETH-USD+0.0100%1h2,771.4+0.157%$21.4M$64.4M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,766.4−0.023%$10.5M$7.9M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,767.2+0.004%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,772.3+0.189%$42.5M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,769.6+0.091%$971K$12.7M100xas long as short
Extended ETH-USD+0.0104%1h2,766.1−0.034%$30.9M$74.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,770.3+0.116%—$35.9M500xas long as short
Kalshi KXETHPERP+0.0118%8h2,771.8+0.172%$8.2M$672.9M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,771.3+0.154%$97.9M$314.4M100xas long as short
Orderly PERP_ETH_USDC+0.0157%8h2,769+0.069%$32.6M$11.0M100xas long as short
Hibachi ETH/USDT-P+0.0160%1h2,771.8+0.172%$253K$1.5M20xas long as short
Deribit ETH-PERPETUAL+0.0172%1h2,771.5+0.162%$259.1M$201.5M50xas long as short
BloFin ETH-USDT+0.0180%8h2,770.2+0.115%$287.4M$175.1M150xas long as short
Reya ETHRUSDPERP+0.0215%1h2,766.6−0.016%$7.3M$1.1M25xas long as short