ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.004%

Price spread now: Katana Perps against Kalshi−0.099%7-day average −0.028% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kalshi Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.052%+$5 on $10k

Price spread, last 7 days+0.038%+$4 · spread now −0.099%, 7d avg −0.028%

Together, before fees+0.090%+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Katana Perps is 0.071% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.099% now, against its 7-day average of −0.028%). If the spread goes back, that is −$7 on $10k: about 2.4 days of funding at the current rate (+$3 a day). At the pace of the last 4 days (+0.052% in total) that is about 5.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXETHPERP	2,725.8	0	get 0.0000% / 8h	4h 35m	$6.6M	$682.2M	4.9x
Short	Katana Perps ETH-USD	2,723.1	0.0100	get 0.0100% / 8h	35m 18s	$500K	$3.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Kalshi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Katana PerpsbpOrdersPrice spread, now −0.099%Rate

Funding earned: $20.96
Price spread: −0.099% → −0.028%: −$7.12
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $0.04
Costs to cover: 0.138%
Break-even: 7.0 days

Slippage unknown: Kalshi: live order book, 4 min ago; Katana Perps: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kalshi live order book, 4 min ago	0.18 bp	5.2 bp −$5	6.7 bp −$67	10.6 bp −$1,061	16.9 bp −$8,442
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: 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 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	−0.0447%	43m	2,725	−0.028%	$276K	$5.7M	8.3x	as long as short
BloFin ETH-USDT	−0.0181%	8h	2,723.8	−0.072%	$280.3M	$177.7M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,724	−0.066%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,725.1	−0.026%	$809K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,723.8	−0.072%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,725	−0.029%	$10.5M	$42.5M	50x	as long as short
Kalshi KXETHPERPlong	0.0000%	8h	2,725.8	long leg	$6.6M	$682.2M	4.9x
Deribit ETH-PERPETUAL	0.0000%	1h	2,724.9	−0.034%	$262.6M	$212.4M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,723.9	−0.071%	$32.9M	—	200x	as long as short
BingX ETH-USDT	+0.0018%	8h	2,723.1	−0.098%	—	$1.09B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0022%	8h	2,723	−0.103%	$2.32B	$4.36B	150x	as long as short
HTX ETH-USDT	+0.0027%	8h	2,723.5	−0.085%	$1.05B	$1.22B	200x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,724	−0.066%	$190K	$891K	50x	as long as short
ApeX Omni ETHUSDT	+0.0039%	1h	2,724.3	−0.056%	$8.5M	$31.6M	100x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,729.5	+0.136%	$117K	$20.3M	52x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,724.7	−0.039%	$82.1M	$310.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0064%	1h	2,725.8	−0.001%	$239K	$1.4M	20x	as long as short
KuCoin ETHUSDTM	+0.0072%	8h	2,723.4	−0.089%	$383.7M	$578.3M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,723	−0.101%	$1.65B	$10.84B	100x	as long as short
Aster ETHUSDT	+0.0077%	8h	2,723.2	−0.094%	$252.2M	$849.5M	200x	as long as short
SoDEX ETH-USD	+0.0084%	1h	2,723.8	−0.073%	$54.2M	$187.2M	40x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,721.1	−0.172%	$4.9M	$185K	20x	as long as short
MEXC ETH_USDT	+0.0090%	8h	2,723.4	−0.087%	$1.58B	$2.57B	500x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,723.2	−0.095%	$6.30B	$16.17B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,724.6	−0.046%	$112.2M	$430.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,725.7	−0.002%	$23.4M	$102.1M	50x	as long as short
Aftermath Perps ETHUSD	+0.0099%	1h	2,727.8	+0.074%	$30K	$20K	20x	as long as short
Katana Perps ETH-USDshort	+0.0100%	8h	2,723.1	−0.099%	$500K	$3.6M	50x
Paradex ETH-USD-PERP	+0.0100%	8h	2,727.3	+0.053%	$15.3M	$7.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,724	−0.066%	$14.1M	$105.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,726.3	+0.018%	$3.11B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,724.7	−0.040%	$31.9M	$333.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,723.3	−0.092%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,724.1	−0.062%	$1.6M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,726.2	+0.016%	$163.3M	$356.8M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,723.5	−0.084%	$3.30B	$8.88B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,723.8	−0.074%	$2.10B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,724.9	−0.034%	$15.0M	$41.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,724.1	−0.062%	$133.4M	$317.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,724.6	−0.045%	$185.3M	$682.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,727.6	+0.067%	$158.6M	$82.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,724.5	−0.048%	$20.9M	$70.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,725.4	−0.014%	—	$446K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,724.8	−0.037%	$11.2M	$9.5M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,723.4	−0.088%	$183K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,724.3	−0.054%	$22K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,726.6	+0.028%	$40.8M	$30.1M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,723.3	−0.093%	$955K	$10.9M	100x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,724.9	−0.034%	$262.7M	$64.5M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,722.7	−0.114%	$30.4M	$72.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,723.8	−0.072%	—	$30.4M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,725.2	−0.023%	$46.6M	$4.29B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,724	−0.065%	$5.6M	$11.7M	25x	as long as short
Reya ETHRUSDPERP	+0.0182%	1h	2,722.9	−0.106%	$7.3M	$975K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0184%	8h	2,725.9	+0.005%	$32.1M	$11.2M	100x	as long as short