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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+0.0180%/8h= +19.7% APRpaid last 24h +0.051%
Price spread now: Bybit against Hotstuff+0.100%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on HotstuffShort on Bybit
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—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Bybit is 0.100% dearer against Hotstuff than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHotstuff ETH-PERP2,771.1−0.0080get 0.0010% / 1h14m 15s$5K$1K50x
ShortBybit ETHUSDT2,773.90.0100get 0.0100% / 8h7h 14m$2.52B$4.33B150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Hotstuff. 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
$37.8
Price spread: +0.100% → 0.000%
$10
Slippage, 4 orders
no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
$31.8
Costs to cover
0.160%
Break-even
1.1 days
Slippage unknown: Hotstuff: no order-book sample; Bybit: live order book, 5 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 Hotstuff no order-book sample—————
Sell Bybit live order book, 5 min ago0.02 bp5.5 bp −$66.7 bp −$678.2 bp −$81911.8 bp −$5,895
Hotstuff: 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%1h2,765.8−0.191%$119K$22.5M52xas long as short
RISEx ETH/USDC−0.0128%1h2,772+0.033%$5.6M$11.2M25xas long as short
Perpl ETH−0.0112%43m2,771−0.002%$340K$6.2M8.3xas long as short
Hotstuff ETH-PERPlong−0.0080%1h2,771.1long leg$5K$1K50x
01 Exchange ETHUSD−0.0032%1h2,771.8+0.025%$169K$1.1M50xas long as short
Phoenix ETH−0.0003%1h2,770.2−0.032%$874K$3.7M25xas long as short
dYdX ETH-USD0.0000%1h2,771.8+0.025%$12.3M$43.2M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,773.5+0.088%$22.4M—200xas long as short
Bullet ETH-USD+0.0016%1h2,772.6+0.053%$185K$1.7M20xas long as short
OKX ETH-USDT-SWAP+0.0029%8h2,774+0.104%$1.71B$11.14B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX ETH-USD+0.0036%1h2,773+0.069%$55.2M$188.0M40xas long as short
Phemex ETHUSDT+0.0042%8h2,773+0.070%$269.9M$67.1M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0043% / S −0.0009%1h2,773.3+0.080%$12.7M—200xas long as short
Aster ETHUSDT+0.0050%8h2,773.1+0.074%$256.8M$886.2M200xas long as short
Aevo ETH-PERP+0.0056%1h2,771.2+0.002%$5.0M$156K20xas long as short
MEXC ETH_USDT+0.0059%8h2,773.3+0.078%$1.62B$2.66B500xas long as short
Binance ETHUSDT+0.0061%8h2,773.3+0.078%$6.49B$16.26B150xas long as short
Gate ETH_USDT+0.0076%8h2,773.1+0.071%$3.38B$9.08B200xas long as short
Bitget ETHUSDT+0.0077%8h2,773.2+0.076%$2.10B$2.86B150xas long as short
Aftermath Perps ETHUSD+0.0079%1h2,770.5−0.021%$31K$21K20xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,774.9+0.136%$60.5M$4.43B50xas long as short
Vest ETH-PERP+0.0081%1h2,772.1+0.036%—$876K50xas long as short
HTX ETH-USDT+0.0084%8h2,772.5+0.051%$1.08B$1.24B200xas long as short
KuCoin ETHUSDTM+0.0088%8h2,772.1+0.034%$421.0M$604.1M100xas long as short
ApeX Omni ETHUSDT+0.0094%1h2,768.5−0.095%$8.6M$32.1M100xas long as short
Lighter ETH+0.0096%1h2,773.9+0.101%$115.1M$459.4M50xas long as short
Lighter RH ETH+0.0096%1h2,775.2+0.148%$25.6M$111.8M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,775.3+0.153%$15.9M$8.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,771.7+0.022%$488K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,771.8+0.026%$14.6M$113.5M50xas long as short
Hyperliquid ETH+0.0100%1h2,774.8+0.134%$3.17B$2.19B25xas long as short
Pacifica ETH+0.0100%1h2,771.8+0.025%$31.2M$328.0M50xas long as short
Bybit ETHUSDTshort+0.0100%8h2,773.9+0.100%$2.52B$4.33B150x
Ondo Perps ETH-USD.P+0.0100%1h2,770.8−0.011%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,772.4+0.045%$2.8M$16.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,763.5−0.273%$172.0M$292.0M25xas long as short
BingX ETH-USDT+0.0100%8h2,773+0.069%—$1.21B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,770.1−0.038%$15.1M$42.1M50xas long as short
Variational Omni ETH+0.0100%8h2,768.4−0.096%$133.7M$347.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,766.7−0.158%$181.6M$786.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,766.3−0.175%$161.0M$84.5M50xas long as short
StandX ETH-USD+0.0100%1h2,769.2−0.069%$21.4M$64.0M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,772.6+0.054%$10.5M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,772.9+0.066%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,774.7+0.129%$42.6M$28.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,772.4+0.047%$972K$12.9M100xas long as short
Extended ETH-USD+0.0104%1h2,772.8+0.062%$30.9M$75.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,770.8−0.011%—$36.2M500xas long as short
Kalshi KXETHPERP+0.0110%8h2,772.4+0.047%$8.1M$676.2M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,775.1+0.144%$98.0M$320.2M100xas long as short
Hibachi ETH/USDT-P+0.0152%1h2,771.2+0.004%$253K$1.5M20xas long as short
Orderly PERP_ETH_USDC+0.0155%8h2,775.3+0.152%$32.7M$11.1M100xas long as short
BloFin ETH-USDT+0.0180%8h2,769.8−0.047%$288.0M$178.8M150xas long as short
Deribit ETH-PERPETUAL+0.0197%1h2,774.9+0.137%$259.1M$203.1M50xas long as short
Reya ETHRUSDPERP+0.0213%1h2,772.5+0.049%$7.3M$1.1M25xas long as short