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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 22:00 UTC+0.0211%/8h= +23.1% APRnext payment +$0.26 per $10,000 · paid last 24h +0.027%
Price spread now: Extended against Injective+0.358%7-day average −0.097% · you sell dearer than you buy
Net, funding: paid 7d − costs−$79as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$650.654% of the position
Long on InjectiveShort on Extended
What this pair did over the last
the charts below follow
Funding, last 7 days−0.135%−$13 on $10k
Price spread, last 3 days (all we have)−0.189%−$19 · spread now +0.358%, 7d avg −0.097%
Together, before fees−0.324%+ Points / potential airdropExtended: Active · farm board−$32 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Extended is 0.454% dearer against Injective than usual: you sell high and buy low: +$45 more if the spread goes back to its 7-day average of −0.097%. Mind the row above: over the last 7 days funding on this pair cost −0.135%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.135% in total (about -7.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.26 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective ETH/USDC PERP2,766.1−0.0107get 0.0013% / 1h24m 48s$119K$22.5M52x
ShortExtended ETH-USD2,7760.0104get 0.0013% / 1h24m 48s$31.4M$76.1M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended 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
$44.24
Price spread: +0.358% → −0.097%
$45.42
Slippage, 4 orders
−$60.38
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee Extended: 2.5 bp × 2 orders
−$5
Net
$24.26
Costs to cover
0.654%
Break-even
3.2 days
Slippage from Injective: live order book, 4 min ago; Extended: live order book, 4 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 Injective live order book, 4 min ago13.52 bp13.5 bp −$1413.5 bp −$13513.5 bp −$1,35320684.9 bp −$10.34M
Sell Extended live order book, 4 min ago0.18 bp2.7 bp −$32.7 bp −$275.8 bp −$57714.3 bp −$7,159

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−0.0112%43m2,774.8+0.315%$289K$6.9M8.3xas long as short
Injective ETH/USDC PERPlong−0.0107%1h2,766.1long leg$119K$22.5M52x
Hotstuff ETH-PERP−0.0080%1h2,771.9+0.210%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0056%1h2,775.1+0.325%$172K$1.2M50xas long as short
Phoenix ETH−0.0023%1h2,773.4+0.264%$798K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,774.9+0.318%$5.8M$11.9M25xas long as short
dYdX ETH-USD0.0000%1h2,775.6+0.344%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,775.4+0.336%$22.4M—200xas long as short
Aftermath Perps ETHUSD+0.0007%1h2,771.1+0.181%$29K$22K20xas long as short
Phemex ETHUSDT+0.0014%8h2,774.5+0.303%$267.2M$66.1M150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
ApeX Omni ETHUSDT+0.0018%1h2,771.4+0.190%$8.8M$32.6M100xas long as short
OKX ETH-USDT-SWAP+0.0021%8h2,777.1+0.398%$1.71B$11.91B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,775.3+0.331%$13.2M—200xas long as short
Aster ETHUSDT+0.0039%8h2,776+0.359%$256.8M$995.9M200xas long as short
MEXC ETH_USDT+0.0045%8h2,776.4+0.372%$1.61B$2.67B500xas long as short
Binance ETHUSDT+0.0047%8h2,776.4+0.371%$6.44B$17.23B150xas long as short
Aevo ETH-PERP+0.0048%1h2,774.3+0.297%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0070%8h2,776.3+0.370%$3.28B$9.65B200xas long as short
Bitget ETHUSDT+0.0073%8h2,777.4+0.407%$2.10B$3.13B150xas long as short
Bullet ETH-USD+0.0082%1h2,774.5+0.303%$185K$1.8M20xas long as short
Variational Omni ETH+0.0092%8h2,774.2+0.291%$140.6M$320.2M—as long as short
Lighter ETH+0.0096%1h2,775.3+0.332%$115.4M$513.5M50xas long as short
Lighter RH ETH+0.0096%1h2,776.6+0.380%$25.4M$122.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,775.3+0.334%—$41.7M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,774.6+0.307%$15.9M$10.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,774.5+0.304%$482K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,774.9+0.319%$14.6M$117.0M50xas long as short
Hyperliquid ETH+0.0100%1h2,777.8+0.423%$3.20B$2.39B25xas long as short
Pacifica ETH+0.0100%1h2,775.4+0.336%$31.2M$287.3M50xas long as short
Bybit ETHUSDT+0.0100%8h2,777.2+0.402%$2.52B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,774.1+0.289%$2.9M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,776.8+0.386%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,765.9−0.007%$164.9M$256.3M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,776.2+0.367%$424.6M$741.3M100xas long as short
BingX ETH-USDC+0.0100%8h2,776.1+0.360%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,776.1+0.362%$15.4M$42.6M50xas long as short
edgeX ETHUSDC+0.0100%4h2,770.9+0.175%$178.1M$791.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,772.8+0.244%$161.3M$97.1M50xas long as short
StandX ETH-USD+0.0100%1h2,774.4+0.300%$21.4M$57.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,775.2+0.331%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,776+0.358%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,775.6+0.344%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,777+0.394%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,773.7+0.274%$972K$14.2M100xas long as short
SoDEX ETH-USD+0.0100%1h2,774.7+0.311%$55.2M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,774.6+0.307%$1.08B$1.32B200xas long as short
Extended ETH-USDshort+0.0104%1h2,776+0.358%$31.4M$76.1M50x
Coinbase International ETH-PERP-INTX+0.0104%1h2,776.6+0.380%$60.1M$4.63B50xas long as short
Kalshi KXETHPERP+0.0120%8h2,775.9+0.354%$8.5M$672.8M4.9xas long as short
Orderly PERP_ETH_USDC+0.0131%8h2,777.7+0.418%$32.6M$12.0M100xas long as short
Deribit ETH-PERPETUAL+0.0139%1h2,776.4+0.373%$258.4M$224.8M50xas long as short
BloFin ETH-USDT+0.0167%8h2,774.5+0.303%$285.0M$195.5M150xas long as short
Reya ETHRUSDPERP+0.0182%1h2,774.6+0.306%$7.4M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0240%1h2,776.2+0.365%$86.9M$330.7M100xas long as short
Hibachi ETH/USDT-P+0.0432%1h2,777.3+0.406%$285K$1.5M20xas long as short