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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 09:00 UTC−0.0153%/8h= −16.8% APRnext payment −$0.19 per $10,000 · paid last 24h +0.051%
Price spread now: Derive against Injective−0.036%7-day average −0.019% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on InjectiveShort on Derive
What this pair did over the last
the charts below follow
Funding, last 7 days−0.014%−$1 on $10k
Price spread, last 4 days (all we have)+0.151%+$15 · spread now −0.036%, 7d avg −0.019%
Together, before fees+0.138%+$14 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective ETH/USDC PERP2,728.40.0253pay 0.0032% / 1h58m 24s$117K$18.9M52x
ShortDerive ETH-PERP2,727.40.0100get 0.0013% / 1h58m 24s$40.5M$30.0M15x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Derive against Injective. 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
−$32.17
Price spread: −0.036% → −0.019%
−$1.7
Slippage, 4 orders
no order book: not counted
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee Derive: 3 bp × 2 orders
−$6
Net
−$39.89
Costs to cover
0.060%
Break-even
never at this rate
Slippage unknown: Injective: live order book, 1 min ago; 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
LegHalf-spread$10k$100k$1M$5M
Buy Injective live order book, 1 min ago15.56 bp15.6 bp −$1615.6 bp −$15615.6 bp −$1,55735763.0 bp −$17.88M
Sell Derive no order-book sample—————
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 54 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%43m2,728.5+0.003%$281K$5.7M8.3xas long as short
Gate ETH_USDT−0.0097%8h2,728.2−0.008%$3.31B$8.17B200xas long as short
Hotstuff ETH-PERP−0.0080%1h2,728.1−0.011%$5K$1K50xas long as short
Bybit ETHUSDT−0.0024%8h2,728−0.013%$2.32B$4.32B150xas long as short
Phoenix ETH−0.0015%1h2,723.8−0.169%$808K$3.0M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,728.4+0.001%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,728.3−0.005%$10.5M$41.8M50xas long as short
Kalshi KXETHPERP0.0000%8h2,726.2−0.081%$6.7M$672.8M4.9xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,726.1−0.084%$264.3M$216.7M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,728.6+0.005%$32.9M—200xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0018%8h2,727.3−0.040%—$18.6M—as long as short
01 Exchange ETHUSD+0.0064%1h2,729.5+0.040%$191K$884K50xas long as short
OKX ETH-USDT-SWAP+0.0078%8h2,728.3−0.004%$1.65B$10.74B100xas long as short
ApeX Omni ETHUSDT+0.0078%1h2,722.1−0.232%$8.4M$31.3M100xas long as short
Hibachi ETH/USDT-P+0.0080%1h2,726.5−0.070%$240K$1.4M20xas long as short
SoDEX ETH-USD+0.0081%1h2,725.2−0.117%$54.3M$182.6M40xas long as short
KuCoin ETHUSDTM+0.0082%8h2,728.5+0.003%$383.1M$575.8M100xas long as short
Aster ETHUSDT+0.0085%8h2,728.7+0.010%$252.3M$851.4M200xas long as short
MEXC ETH_USDT+0.0093%8h2,728.3−0.004%$1.58B$2.53B500xas long as short
Aftermath Perps ETHUSD+0.0093%1h2,725−0.123%$30K$20K20xas long as short
Binance ETHUSDT+0.0095%8h2,728.6+0.008%$6.32B$16.10B150xas long as short
Lighter ETH+0.0096%1h2,727.8−0.023%$112.3M$399.6M50xas long as short
Lighter RH ETH+0.0096%1h2,729+0.021%$23.4M$95.0M50xas long as short
Aevo ETH-PERP+0.0096%1h2,728.8+0.014%$4.9M$191K20xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,730.6+0.082%$15.4M$7.4M50xas long as short
Nado ETH-PERP+0.0100%1h2,727.9−0.018%$14.1M$104.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,730.8+0.088%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,728−0.015%$32.1M$332.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,728.2−0.007%$2.7M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,729+0.021%$1.6M$15.9M25xas long as short
Bulk ETH-USD+0.0100%1h2,727.1−0.047%$161.7M$337.0M25xas long as short
Bitget ETHUSDT+0.0100%8h2,727.8−0.023%$2.11B$2.76B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,726−0.089%$15.0M$40.5M50xas long as short
Variational Omni ETH+0.0100%8h2,723−0.199%$131.2M$318.7M—as long as short
edgeX ETHUSDC+0.0100%4h2,722.3−0.222%$185.2M$683.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,723.8−0.170%$158.3M$81.2M50xas long as short
StandX ETH-USD+0.0100%1h2,726.2−0.081%$20.9M$70.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,729.4+0.036%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,730+0.059%$11.2M$9.4M50xas long as short
Bullet ETH-USD+0.0100%1h2,725.4−0.111%$180K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,729.2+0.028%$20K$23K25xas long as short
Derive ETH-PERPshort+0.0100%1h2,727.4−0.036%$40.5M$30.0M15x
SunX ETH-USDT+0.0100%8h2,724.7−0.134%$955K$10.7M100xas long as short
HTX ETH-USDT+0.0100%8h2,725.4−0.110%$1.05B$1.21B200xas long as short
Phemex ETHUSDT+0.0100%8h2,726−0.089%$262.7M$64.0M150xas long as short
Extended ETH-USD+0.0104%1h2,726.3−0.078%$30.4M$71.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,726.7−0.062%—$30.1M500xas long as short
Kraken Futures PF_ETHUSD+0.0105%1h2,725.8−0.095%$81.9M$310.4M100xas long as short
BloFin ETH-USDT+0.0107%8h2,725−0.124%$280.6M$177.6M150xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,726.6−0.066%$46.7M$4.25B50xas long as short
RISEx ETH/USDC+0.0137%1h2,728.8+0.016%$5.6M$11.6M25xas long as short
Reya ETHRUSDPERP+0.0176%1h2,727.4−0.036%$7.3M$972K25xas long as short
Orderly PERP_ETH_USDC+0.0186%8h2,730.7+0.083%$32.2M$11.3M100xas long as short
Injective ETH/USDC PERPlong+0.0253%1h2,728.4long leg$117K$18.9M52x