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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 04:00 UTC+0.0172%/8h= +18.8% APRpaid last 24h +0.012%
Price spread now: Kraken Futures against HTX+0.062%7-day average +0.025% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$230.235% of the position
Long on HTXShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.089%+$9 on $10k
Price spread, last 4 days (all we have)−0.038%−$4 · spread now +0.062%, 7d avg +0.025%
Together, before fees+0.051%+$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Kraken Futures is 0.036% dearer against HTX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.025%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHTX ETH-USDT2,733.90.0050pay 0.0050% / 8h4h 22m$1.06B$1.20B200x
ShortKraken Futures PF_ETHUSD2,735.60.0222get 0.0028% / 1h22m 25s$83.4M$314.7M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against HTX. 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
$36.13
Price spread: +0.062% → +0.025%
$3.61
Slippage, 4 orders
−$1.49
Fee HTX: 6 bp × 2 orders
−$12
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$16.25
Costs to cover
0.235%
Break-even
3.9 days
Slippage from HTX: live order book, 2 min ago; Kraken Futures: live order book, 2 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 HTX live order book, 2 min ago0.02 bp6.0 bp −$66.0 bp −$606.4 bp −$63910.9 bp −$5,438
Sell Kraken Futures live order book, 2 min ago0.18 bp5.9 bp −$67.6 bp −$769.3 bp −$93412.0 bp −$6,020

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%43m2,734.9+0.035%$297K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,735.3+0.050%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,734.9+0.036%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,734+0.001%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,735.1+0.043%$10.8M$41.6M50xas long as short
01 Exchange ETHUSD0.0000%1h2,735.2+0.047%$187K$823K50xas long as short
Phoenix ETH0.0000%1h2,735+0.040%$830K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,734.1+0.005%$28.1M—200xas long as short
Bullet ETH-USD+0.0008%1h2,733.6−0.012%$179K$1.7M20xas long as short
ApeX Omni ETHUSDT+0.0043%1h2,735+0.038%$8.7M$31.3M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX ETH-USDTlong+0.0050%8h2,733.9long leg$1.06B$1.20B200x
BingX ETH-USDT+0.0052%8h2,733.5−0.014%—$1.15B—as long as short
Bybit ETHUSDT+0.0063%8h2,733.8−0.004%$2.39B$4.35B150xas long as short
KuCoin ETHUSDTM+0.0065%8h2,734+0.003%$380.3M$574.6M100xas long as short
Phemex ETHUSDT+0.0068%8h2,734.4+0.019%$265.9M$65.3M150xas long as short
OKX ETH-USDT-SWAP+0.0071%8h2,734.1+0.007%$1.67B$10.71B100xas long as short
SoDEX ETH-USD+0.0083%1h2,734.8+0.032%$54.5M$187.6M40xas long as short
Aster ETHUSDT+0.0087%8h2,734.4+0.016%$250.9M$842.7M200xas long as short
MEXC ETH_USDT+0.0094%8h2,733.9+0.001%$1.55B$2.56B500xas long as short
Binance ETHUSDT+0.0095%8h2,733.7−0.008%$6.35B$15.86B150xas long as short
Lighter ETH+0.0096%1h2,734.1+0.005%$112.9M$440.1M50xas long as short
Lighter RH ETH+0.0096%1h2,735.2+0.047%$23.4M$106.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,734.6+0.024%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,731.9−0.073%$4.9M$155K20xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,738.6+0.172%$15.6M$8.0M50xas long as short
RISEx ETH/USDC+0.0099%1h2,735.1+0.043%$5.5M$11.6M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,734.7+0.029%$500K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,733.8−0.004%$13.8M$104.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,736.5+0.094%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,734.8+0.032%$31.9M$334.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,734.1+0.007%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,735.2+0.047%$1.6M$16.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,734.6+0.026%$3.35B$8.90B200xas long as short
Bitget ETHUSDT+0.0100%8h2,734.1+0.007%$2.07B$2.74B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,734.4+0.016%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,732.8−0.042%$133.6M$325.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,733.7−0.009%$183.9M$671.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,733.7−0.009%$159.0M$86.6M50xas long as short
StandX ETH-USD+0.0100%1h2,734.3+0.014%$21.1M$68.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,735.1+0.042%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,735.8+0.069%$11.2M$9.1M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,734.9+0.037%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,736.5+0.094%$41.3M$29.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,733.4−0.018%$959K$11.3M100xas long as short
Bulk ETH-USD+0.0100%1h2,734.8+0.033%$164.8M$300.4M25xas long as short
Extended ETH-USD+0.0104%1h2,733.7−0.008%$30.3M$72.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,736+0.076%$51.4M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0116%1h2,735+0.039%$30K$20K20xas long as short
Deribit ETH-PERPETUAL+0.0130%1h2,736.2+0.083%$260.1M$195.7M50xas long as short
Kalshi KXETHPERP+0.0139%8h2,735.2+0.047%$6.7M$678.3M4.9xas long as short
Orderly PERP_ETH_USDC+0.0194%8h2,736.9+0.110%$32.2M$11.6M100xas long as short
Reya ETHRUSDPERP+0.0219%1h2,733.1−0.031%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSDshort+0.0222%1h2,735.6+0.062%$83.4M$314.7M100x
Hibachi ETH/USDT-P+0.0256%1h2,736+0.078%$253K$1.4M20xas long as short
BloFin ETH-USDT+0.0379%8h2,735.3+0.049%$282.7M$175.2M150xas long as short