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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.004%
Price spread now: Arcus against Kalshi+0.017%7-day average +0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$190.187% of the position
Long on KalshiShort on Arcus
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.055%+$5 on $10k
Price spread, last 7 days−0.032%−$3 · spread now +0.017%, 7d avg +0.035%
Together, before fees+0.022%+$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKalshi KXETHPERP2,724.10get 0.0000% / 8h3h 29m$6.6M$669.4M4.9x
ShortArcus ETH-USD2,724.60.0100get 0.0013% / 1h29m 56s$1.6M$15.8M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Arcus against Kalshi. 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
$21
Price spread: +0.017% → +0.035%
−$1.77
Slippage, 4 orders
−$4.2
Fee Kalshi: 5 bp × 2 orders
−$10
Fee Arcus: 2.25 bp × 2 orders
−$4.5
Net
$0.54
Costs to cover
0.187%
Break-even
6.8 days
Slippage from Kalshi: live order book, 4 min ago; Arcus: 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 Kalshi live order book, 4 min ago1.10 bp6.1 bp −$66.9 bp −$6911.0 bp −$1,09718.5 bp −$9,248
Sell Arcus live order book, 4 min ago0.02 bp3.6 bp −$43.9 bp −$395.2 bp −$523doesn't fit

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
BloFin ETH-USDT−0.0166%8h2,723.9−0.008%$279.9M$176.3M150xas long as short
HTX ETH-USDT−0.0151%8h2,722.3−0.068%$1.04B$1.20B200xas long as short
Perpl ETH−0.0112%43m2,723.2−0.033%$275K$5.7M8.3xas long as short
SunX ETH-USDT−0.0096%8h2,722.5−0.061%$938K$10.5M100xas long as short
Hotstuff ETH-PERP−0.0080%1h2,724−0.004%$5K$1K50xas long as short
Bybit ETHUSDT−0.0079%8h2,722.8−0.049%$2.31B$4.29B150xas long as short
ApeX Omni ETHUSDT−0.0014%1h2,726.8+0.097%$8.3M$31.3M100xas long as short
Phoenix ETH−0.0012%1h2,732+0.290%$806K$3.0M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,723.3−0.030%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,725+0.034%$10.5M$41.8M50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kalshi KXETHPERPlong0.0000%8h2,724.1long leg$6.6M$669.4M4.9x
Deribit ETH-PERPETUAL0.0000%1h2,724.1−0.001%$265.8M$222.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,723.6−0.020%$32.9M—200xas long as short
Gate ETH_USDT+0.0012%8h2,723.1−0.039%$3.27B$8.27B200xas long as short
01 Exchange ETHUSD+0.0040%1h2,723.9−0.007%$194K$886K50xas long as short
Hibachi ETH/USDT-P+0.0040%1h2,724.9+0.028%$237K$1.4M20xas long as short
SoDEX ETH-USD+0.0042%1h2,723.6−0.018%$54.3M$182.4M40xas long as short
Aster ETHUSDT+0.0070%8h2,723−0.039%$251.9M$841.5M200xas long as short
OKX ETH-USDT-SWAP+0.0074%8h2,723−0.040%$1.65B$10.60B100xas long as short
Aevo ETH-PERP+0.0080%1h2,722.3−0.066%$4.9M$195K20xas long as short
KuCoin ETHUSDTM+0.0082%8h2,723.3−0.030%$382.3M$564.2M100xas long as short
MEXC ETH_USDT+0.0083%8h2,723−0.042%$1.58B$2.56B500xas long as short
Binance ETHUSDT+0.0083%8h2,722.8−0.049%$6.30B$15.98B150xas long as short
Bullet ETH-USD+0.0088%1h2,723.2−0.032%$175K$1.7M20xas long as short
Phemex ETHUSDT+0.0094%8h2,723.1−0.039%$262.3M$63.1M150xas long as short
Lighter ETH+0.0096%1h2,723.3−0.029%$112.2M$402.3M50xas long as short
Lighter RH ETH+0.0096%1h2,724.5+0.013%$23.6M$96.3M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,724.8+0.024%—$30.4M500xas long as short
Katana Perps ETH-USD+0.0100%8h2,723.6−0.018%$497K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,727.9+0.138%$15.4M$7.1M50xas long as short
Nado ETH-PERP+0.0100%1h2,724.10.000%$14.3M$100.9M50xas long as short
Hyperliquid ETH+0.0100%1h2,725.1+0.037%$3.10B$2.03B25xas long as short
Pacifica ETH+0.0100%1h2,725.2+0.040%$32.0M$333.3M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,723.6−0.018%$2.7M$16.3M25xas long as short
Arcus ETH-USDshort+0.0100%1h2,724.6+0.017%$1.6M$15.8M25x
Bulk ETH-USD+0.0100%1h2,729.4+0.194%$164.7M$339.6M25xas long as short
Bitget ETHUSDT+0.0100%8h2,723.4−0.026%$2.11B$2.73B150xas long as short
BingX ETH-USDC+0.0100%8h2,722.3−0.068%—$18.7M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,723.2−0.035%$15.1M$39.8M50xas long as short
Variational Omni ETH+0.0100%8h2,724.1−0.001%$131.7M$315.5M—as long as short
edgeX ETHUSDC+0.0100%4h2,727.5+0.126%$185.6M$683.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,731.8+0.282%$158.8M$80.0M50xas long as short
StandX ETH-USD+0.0100%1h2,726.6+0.092%$20.9M$70.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,725.4+0.049%—$436K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,722.5−0.059%$11.2M$9.3M50xas long as short
Derive ETH-PERP+0.0100%1h2,724.3+0.008%$40.5M$29.1M15xas long as short
Extended ETH-USD+0.0104%1h2,722.6−0.054%$30.5M$70.5M50xas long as short
Kraken Futures PF_ETHUSD+0.0105%1h2,723.3−0.029%$81.8M$308.8M100xas long as short
Aftermath Perps ETHUSD+0.0116%1h2,728.6+0.165%$30K$20K20xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,723.9−0.009%$45.7M$4.21B50xas long as short
RISEx ETH/USDC+0.0137%1h2,724.5+0.014%$5.6M$11.4M25xas long as short
Reya ETHRUSDPERP+0.0172%1h2,721.9−0.079%$7.3M$964K25xas long as short
Orderly PERP_ETH_USDC+0.0183%8h2,725+0.032%$32.1M$10.8M100xas long as short
Injective ETH/USDC PERP+0.0253%1h2,729.2+0.187%$204K$21.4M52xas long as short
Bluefin ETH-PERP+0.1569%1h2,723.7−0.014%$20K$23K25xas long as short