ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0074%/8h= +8.1% APRnext payment +$0.09 per $10,000 · paid last 24h +0.036%

Price spread now: Derive against GMX+0.015%7-day average +0.048% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Derive

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.027%+$3 on $10k

Price spread, last 3 days (all we have)−0.040%−$4 · spread now +0.015%, 7d avg +0.048%

Together, before fees−0.013%−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Derive is 0.033% cheaper against GMX than usual: you would sell low and buy high (spread +0.015% now, against its 7-day average of +0.048%). If the spread goes back, that is −$3 on $10k: about 35 hours of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.027% in total) that is about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ETH/USD [ETH-USDC]	2,782.7	L +0.0026% / S +0.0009%	pay 0.0003% / 1h	49m 18s	$12.9M	—	200x
Short	Derive ETH-PERP	2,783.1	0.0100	get 0.0013% / 1h	49m 18s	$42.8M	$29.4M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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

Position, each leg$Hold fordaysFee GMXbpFee DerivebpOrdersPrice spread, now +0.015%Rate

Funding earned: $15.47
Price spread: +0.015% → +0.048%: −$3.26
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Derive: 3 bp × 2 orders: −$6
Net: −$5.79
Costs to cover: 0.180%
Break-even: 9.6 days

Slippage unknown: GMX: no order-book sample; Derive: no order-book sample. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Derive no order-book sample	—	—	—	—	—

GMX and Derive: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0447%	43m	2,782.8	+0.004%	$288K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,781.7	−0.034%	$5.7M	$11.9M	25x	as long as short
ApeX Omni ETHUSDT	−0.0110%	1h	2,783.3	+0.023%	$8.8M	$32.8M	100x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,782.5	−0.006%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,782.2	−0.017%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0016%	1h	2,782.4	−0.010%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0009%	1h	2,782.9	+0.007%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,783.1	+0.015%	$12.8M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,783.6	+0.033%	$887K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,782.7	+0.001%	$22.5M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0016%	8h	2,781.9	−0.027%	—	$17.4M	—	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,781.2	−0.054%	$1.70B	$11.92B	100x	as long as short
Phemex ETHUSDT	+0.0025%	8h	2,781.2	−0.054%	$271.0M	$68.9M	150x	as long as short
GMX ETH/USD [ETH-USDC]long	L +0.0026% / S +0.0009%	1h	2,782.7	long leg	$12.9M	—	200x
Aster ETHUSDT	+0.0039%	8h	2,781.7	−0.037%	$256.7M	$1.00B	200x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,781.4	−0.044%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0066%	8h	2,781.9	−0.026%	$1.60B	$2.63B	500x	as long as short
Bitget ETHUSDT	+0.0066%	8h	2,781	−0.061%	$2.10B	$3.11B	150x	as long as short
Binance ETHUSDT	+0.0066%	8h	2,781	−0.060%	$6.45B	$17.28B	150x	as long as short
Deribit ETH-PERPETUAL	+0.0070%	1h	2,782.4	−0.011%	$258.9M	$222.8M	50x	as long as short
Bullet ETH-USD	+0.0071%	1h	2,781.9	−0.026%	$184K	$1.7M	20x	as long as short
Gate ETH_USDT	+0.0072%	8h	2,782	−0.024%	$3.31B	$9.59B	200x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,782.4	−0.009%	$60.4M	$4.61B	50x	as long as short
KuCoin ETHUSDTM	+0.0089%	8h	2,781.8	−0.031%	$423.0M	$739.2M	100x	as long as short
HTX ETH-USDT	+0.0090%	8h	2,780.9	−0.064%	$1.08B	$1.32B	200x	as long as short
Bybit ETHUSDT	+0.0090%	8h	2,781.3	−0.050%	$2.52B	$4.64B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,781.9	−0.029%	$116.2M	$495.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,783	+0.013%	$25.4M	$120.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,782.8	+0.004%	—	$41.9M	500x	as long as short
Vest ETH-PERP	+0.0097%	1h	2,782.8	+0.004%	—	$1.1M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,781.9	−0.027%	$16.0M	$10.3M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,782.1	−0.021%	$479K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,782.8	+0.005%	$14.3M	$118.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,784.6	+0.067%	$3.20B	$2.35B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,783.3	+0.022%	$31.3M	$309.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,781.3	−0.049%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,783	+0.013%	$2.7M	$17.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,784.2	+0.055%	$168.3M	$253.1M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,782	−0.023%	$15.1M	$44.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,782.7	0.000%	$147.8M	$336.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,783.9	+0.045%	$182.2M	$781.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,783.7	+0.038%	$161.9M	$89.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,784	+0.048%	$21.5M	$58.3M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,783	+0.012%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,780.5	−0.079%	$21K	$24K	25x	as long as short
Derive ETH-PERPshort	+0.0100%	1h	2,783.1	+0.015%	$42.8M	$29.4M	15x
SunX ETH-USDT	+0.0100%	8h	2,781.6	−0.038%	$975K	$13.9M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,780.8	−0.067%	$55.4M	$229.0M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,780.5	−0.078%	$32.7M	$77.7M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0122%	1h	2,782.2	−0.018%	$86.9M	$333.3M	100x	as long as short
Kalshi KXETHPERP	+0.0124%	8h	2,782.4	−0.010%	$8.5M	$682.2M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0137%	8h	2,782.6	−0.004%	$32.6M	$12.1M	100x	as long as short
BloFin ETH-USDT	+0.0186%	8h	2,781	−0.062%	$284.9M	$194.9M	150x	as long as short
Reya ETHRUSDPERP	+0.0198%	1h	2,781.8	−0.031%	$7.4M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0280%	1h	2,785	+0.083%	$271K	$1.5M	20x	as long as short