ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0043%/8h= −4.7% APRnext payment −$0.43 per $10,000 · paid last 24h −0.018%

Price spread now: Gate against Kalshi−0.043%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$260.257% of the position

Long on Kalshi Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 7 days+0.020%+$2 · spread now −0.043%, 7d avg +0.004%

Together, before fees+0.027%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.047% cheaper against Kalshi than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXETHPERP	2,771.8	0.0115	pay 0.0115% / 8h	4h 26m	$8.3M	$685.9M	4.9x
Short	Gate ETH_USDT	2,770.6	0.0072	get 0.0072% / 8h	26m 40s	$3.29B	$9.65B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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

Position, each leg$Hold fordaysFee KalshibpFee GatebpOrdersPrice spread, now −0.043%Rate

Funding earned: −$8.98
Price spread: −0.043% → +0.004%: −$4.65
Slippage, 4 orders: −$0.75
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$39.38
Costs to cover: 0.257%
Break-even: never at this rate

Slippage from Kalshi: live order book, 2 min ago; Gate: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kalshi live order book, 2 min ago	0.18 bp	5.2 bp −$5	6.6 bp −$66	10.4 bp −$1,036	17.9 bp −$8,935
Sell Gate live order book, 2 min ago	0.02 bp	7.7 bp −$8	8.8 bp −$88	11.7 bp −$1,175	19.2 bp −$9,622

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0223%	43m	2,770.2	−0.059%	$286K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,770.3	−0.055%	$5.6M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,781.9	+0.364%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,771.3	−0.018%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0032%	1h	2,772.4	+0.020%	$8.8M	$32.9M	100x	as long as short
01 Exchange ETHUSD	−0.0008%	1h	2,770.5	−0.047%	$168K	$1.2M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,771.6	−0.007%	$12.7M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,773.6	+0.065%	$877K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,772	+0.006%	$22.4M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0015%	1h	2,774.4	+0.094%	$29K	$22K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0016%	8h	2,770.6	−0.044%	—	$1.21B	—	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,770.6	−0.044%	$1.70B	$11.86B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,771.6	−0.006%	$12.9M	—	200x	as long as short
Aster ETHUSDT	+0.0031%	8h	2,771.2	−0.021%	$256.2M	$1.00B	200x	as long as short
Phemex ETHUSDT	+0.0035%	8h	2,772.4	+0.023%	$270.3M	$69.0M	150x	as long as short
SoDEX ETH-USD	+0.0036%	1h	2,770.7	−0.040%	$55.2M	$229.0M	40x	as long as short
Bullet ETH-USD	+0.0049%	1h	2,770.3	−0.054%	$183K	$1.7M	20x	as long as short
Binance ETHUSDT	+0.0059%	8h	2,770.8	−0.037%	$6.45B	$17.30B	150x	as long as short
MEXC ETH_USDT	+0.0060%	8h	2,770.5	−0.046%	$1.60B	$2.65B	500x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,768.4	−0.122%	$5.0M	$636K	20x	as long as short
Deribit ETH-PERPETUAL	+0.0064%	1h	2,772.3	+0.019%	$259.0M	$222.4M	50x	as long as short
Bitget ETHUSDT	+0.0066%	8h	2,770.7	−0.040%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDTshort	+0.0072%	8h	2,770.6	−0.043%	$3.29B	$9.65B	200x
KuCoin ETHUSDTM	+0.0084%	8h	2,771.1	−0.026%	$420.6M	$739.6M	100x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,772.5	+0.024%	$60.0M	$4.59B	50x	as long as short
Bybit ETHUSDT	+0.0090%	8h	2,770.7	−0.041%	$2.50B	$4.63B	150x	as long as short
Vest ETH-PERP	+0.0094%	1h	2,770.8	−0.036%	—	$1.1M	50x	as long as short
HTX ETH-USDT	+0.0096%	8h	2,771.5	−0.011%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,771.2	−0.023%	$115.2M	$499.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,773.7	+0.068%	$25.3M	$121.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,771.4	−0.015%	—	$42.0M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,770.2	−0.057%	$15.9M	$10.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,770.5	−0.047%	$476K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,769.7	−0.074%	$14.3M	$118.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,773.9	+0.076%	$3.19B	$2.35B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,771.6	−0.007%	$31.2M	$312.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,770.6	−0.043%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,771.8	−0.001%	$2.7M	$17.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,772.9	+0.040%	$167.0M	$259.0M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,772.6	+0.027%	$15.1M	$44.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,773.3	+0.053%	$147.8M	$336.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,772.2	+0.013%	$182.0M	$782.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,774.1	+0.084%	$161.3M	$89.3M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,772.8	+0.036%	$21.5M	$58.7M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,770.4	−0.051%	$10.7M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,771.5	−0.012%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,773.4	+0.058%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,770.7	−0.041%	$972K	$13.9M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.1	−0.060%	$32.5M	$78.0M	50x	as long as short
Kalshi KXETHPERPlong	+0.0115%	8h	2,771.8	long leg	$8.3M	$685.9M	4.9x
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,772	+0.007%	$86.4M	$333.7M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0141%	8h	2,774.1	+0.083%	$32.6M	$12.1M	100x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,770.9	−0.032%	$287.2M	$194.1M	150x	as long as short
Reya ETHRUSDPERP	+0.0202%	1h	2,770.1	−0.060%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0240%	1h	2,773.8	+0.073%	$252K	$1.6M	20x	as long as short