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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 12:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.004%
Price spread now: Variational Omni against Kalshi+0.073%7-day average +0.012% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on KalshiShort on Variational Omni
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.046%+$5 on $10k
Price spread, last 7 days−0.100%−$10 · spread now +0.073%, 7d avg +0.012%
Together, before fees−0.054%+ Points / potential airdropVariational Omni: Active · farm board−$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Variational Omni is 0.062% dearer against Kalshi than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.012%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKalshi KXETHPERP2,744.40get 0.0000% / 8h2h 58m$6.7M$664.3M4.9x
ShortVariational Omni ETH2,746.40.0100get 0.0100% / 8h6h 58m$131.8M$307.2M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Variational Omni 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: +0.073% → +0.012%
$6.19
Slippage, 4 orders
no order book: not counted
Fee Kalshi: 5 bp × 2 orders
−$10
Fee Variational Omni: 0 bp × 2 orders
$0
Net
$17.19
Costs to cover
0.100%
Break-even
1.3 days
Slippage unknown: Kalshi: live order book, 6 min ago; Variational Omni: RFQ quote, 1 min ago. 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 Kalshi live order book, 6 min ago0.18 bp5.5 bp −$57.0 bp −$7011.1 bp −$1,10817.6 bp −$8,816
Sell Variational Omni RFQ quote, 1 min ago0.47 bpdoesn't fit0.5 bp −$54.3 bp −$433doesn't fit

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
Hotstuff ETH-PERP−0.0080%1h2,748.4+0.146%$5K$1K50xas long as short
Bybit ETHUSDT−0.0039%8h2,742.4−0.075%$2.35B$4.15B150xas long as short
Hibachi ETH/USDT-P−0.0024%1h2,750+0.203%$236K$1.3M20xas long as short
Phoenix ETH−0.0012%1h2,751.4+0.255%$814K$2.8M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,748.9+0.162%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,743.9−0.016%$11.1M$41.4M50xas long as short
Kalshi KXETHPERPlong0.0000%8h2,744.4long leg$6.7M$664.3M4.9x
Perpl ETH0.0000%43m2,744.8+0.015%$271K$5.2M8.3xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,745+0.021%$266.4M$209.1M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,749.8+0.196%$33.2M—200xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
01 Exchange ETHUSD+0.0016%1h2,744.8+0.015%$179K$943K50xas long as short
Gate ETH_USDT+0.0037%8h2,743.7−0.024%$3.27B$7.65B200xas long as short
Phemex ETHUSDT+0.0057%8h2,743−0.050%$263.9M$59.4M150xas long as short
OKX ETH-USDT-SWAP+0.0069%8h2,742.3−0.077%$1.66B$10.17B100xas long as short
ApeX Omni ETHUSDT+0.0070%1h2,749.5+0.185%$8.3M$30.3M100xas long as short
Aster ETHUSDT+0.0071%8h2,743.4−0.037%$252.8M$796.7M200xas long as short
HTX ETH-USDT+0.0073%8h2,742.5−0.068%$1.05B$1.16B200xas long as short
SoDEX ETH-USD+0.0079%1h2,742.9−0.055%$54.6M$160.0M40xas long as short
Kraken Futures PF_ETHUSD+0.0080%1h2,743.7−0.026%$82.4M$290.8M100xas long as short
Aevo ETH-PERP+0.0080%1h2,741.5−0.104%$4.9M$200K20xas long as short
MEXC ETH_USDT+0.0081%8h2,744.2−0.008%$1.58B$2.46B500xas long as short
Binance ETHUSDT+0.0081%8h2,743−0.050%$6.40B$15.42B150xas long as short
KuCoin ETHUSDTM+0.0089%8h2,743.8−0.021%$367.6M$481.9M100xas long as short
Lighter ETH+0.0096%1h2,744−0.015%$113.3M$378.8M50xas long as short
Lighter RH ETH+0.0096%1h2,744.3−0.003%$24.8M$91.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,745.6+0.042%—$24.6M500xas long as short
Katana Perps ETH-USD+0.0100%8h2,744.40.000%$509K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,749+0.167%$15.7M$6.6M50xas long as short
Nado ETH-PERP+0.0100%1h2,744.2−0.008%$14.6M$100.5M50xas long as short
Hyperliquid ETH+0.0100%1h2,746.2+0.066%$3.13B$1.94B25xas long as short
Pacifica ETH+0.0100%1h2,744.8+0.014%$32.1M$326.2M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,744.1−0.011%$2.8M$15.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,745+0.023%$1.5M$15.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,751.4+0.254%$166.7M$340.7M25xas long as short
Bitget ETHUSDT+0.0100%8h2,743.8−0.022%$2.11B$2.55B150xas long as short
BingX ETH-USDC+0.0100%8h2,742.7−0.061%—$18.5M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,745.3+0.034%$14.9M$37.7M50xas long as short
Variational Omni ETHshort+0.0100%8h2,746.4+0.073%$131.8M$307.2M—
edgeX ETHUSDC+0.0100%4h2,749+0.168%$186.3M$695.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,749.1+0.173%$159.8M$73.6M50xas long as short
StandX ETH-USD+0.0100%1h2,748.2+0.138%$21.1M$72.3M40xas long as short
Vest ETH-PERP+0.0100%1h2,746.4+0.071%—$409K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,745.4+0.036%$11.3M$9.0M50xas long as short
Bullet ETH-USD+0.0100%1h2,744.1−0.011%$177K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,744.3−0.005%$20K$15K25xas long as short
SunX ETH-USDT+0.0100%8h2,742.7−0.062%$947K$9.9M100xas long as short
Extended ETH-USD+0.0104%1h2,742.9−0.055%$30.4M$68.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,743.6−0.028%$45.5M$4.09B50xas long as short
Aftermath Perps ETHUSD+0.0108%1h2,748.8+0.160%$30K$12K20xas long as short
Reya ETHRUSDPERP+0.0167%1h2,745+0.020%$7.3M$880K25xas long as short
RISEx ETH/USDC+0.0167%1h2,745.2+0.031%$5.6M$11.2M25xas long as short
Orderly PERP_ETH_USDC+0.0181%8h2,746.3+0.070%$32.4M$10.4M100xas long as short
BloFin ETH-USDT+0.0301%8h2,745+0.022%$281.8M$166.0M150xas long as short
Injective ETH/USDC PERP+0.0308%1h2,752.8+0.306%$122K$19.9M52xas long as short