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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 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%
Price spread now: Bybit against Katana Perps+0.066%7-day average +0.036% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Katana PerpsShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.020%−$2 on $10k
Price spread, last 7 days−0.027%−$3 · spread now +0.066%, 7d avg +0.036%
Together, before fees−0.048%−$5 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.030% dearer against Katana Perps than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.036%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps ETH-USD2,744.40.0100pay 0.0100% / 8h5h 10m$469K$3.1M50x
ShortBybit ETHUSDT2,746.20.0100get 0.0100% / 8h5h 10m$2.45B$4.17B150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Katana Perps. 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
$0.04
Price spread: +0.066% → +0.036%
$3.03
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$11.73
Costs to cover
0.148%
Break-even
1868.4 days
Slippage unknown: Katana Perps: no order-book sample; Bybit: live order book, 3 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 Katana Perps no order-book sample—————
Sell Bybit live order book, 3 min ago0.02 bp5.5 bp −$67.0 bp −$707.9 bp −$7939.8 bp −$4,886
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hotstuff ETH-PERP−0.0080%1h2,743.2−0.044%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,735.6−0.321%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,745.4+0.037%$12.1M—200xas long as short
dYdX ETH-USD0.0000%1h2,743.2−0.044%$10.8M$41.7M50xas long as short
Perpl ETH0.0000%43m2,744.1−0.011%$305K$5.6M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,745.6+0.045%$25.1M—200xas long as short
Phoenix ETH+0.0017%1h2,746.8+0.087%$848K$2.9M25xas long as short
01 Exchange ETHUSD+0.0024%1h2,745+0.022%$182K$836K50xas long as short
ApeX Omni ETHUSDT+0.0032%1h2,744.40.000%$8.8M$30.7M100xas long as short
BingX ETH-USDC+0.0053%8h2,745.1+0.026%—$18.4M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0068%8h2,746.5+0.077%$1.71B$10.56B100xas long as short
KuCoin ETHUSDTM+0.0071%8h2,745.5+0.041%$382.2M$575.3M100xas long as short
Bullet ETH-USD+0.0074%1h2,745+0.020%$182K$1.7M20xas long as short
RISEx ETH/USDC+0.0077%1h2,745.3+0.031%$5.6M$11.4M25xas long as short
Aster ETHUSDT+0.0087%8h2,746.1+0.062%$254.1M$841.0M200xas long as short
SoDEX ETH-USD+0.0091%1h2,745.4+0.036%$54.7M$187.6M40xas long as short
Binance ETHUSDT+0.0094%8h2,746+0.058%$6.38B$15.68B150xas long as short
MEXC ETH_USDT+0.0095%8h2,745.8+0.050%$1.57B$2.56B500xas long as short
Lighter ETH+0.0096%1h2,745.8+0.051%$112.9M$435.6M50xas long as short
Lighter RH ETH+0.0096%1h2,747.1+0.099%$24.7M$104.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,742.8−0.057%—$30.4M500xas long as short
Aevo ETH-PERP+0.0096%1h2,744.6+0.009%$4.9M$154K20xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,746.2+0.064%$56.0M$4.26B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,747+0.096%$16.0M$7.9M50xas long as short
Katana Perps ETH-USDlong+0.0100%8h2,744.4long leg$469K$3.1M50x
Nado ETH-PERP+0.0100%1h2,744.5+0.004%$13.9M$104.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,748.2+0.138%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,744.40.000%$31.7M$334.5M50xas long as short
Bybit ETHUSDTshort+0.0100%8h2,746.2+0.066%$2.45B$4.17B150x
Ondo Perps ETH-USD.P+0.0100%1h2,742.7−0.062%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,745.4+0.036%$2.8M$16.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,746.6+0.079%$165.7M$303.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,746+0.058%$3.40B$8.77B200xas long as short
Bitget ETHUSDT+0.0100%8h2,746+0.057%$2.09B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,745.5+0.040%$15.0M$39.4M50xas long as short
Variational Omni ETH+0.0100%8h2,743.1−0.047%$133.1M$325.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,743.6−0.031%$182.4M$665.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.7−0.025%$159.6M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,744−0.015%$21.2M$67.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,745.1+0.024%—$815K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,745.8+0.051%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,747.5+0.112%$41.5M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,745+0.023%$963K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,744.7+0.012%$1.06B$1.17B200xas long as short
Phemex ETHUSDT+0.0100%8h2,745.4+0.037%$266.8M$64.9M150xas long as short
Extended ETH-USD+0.0104%1h2,744.9+0.019%$30.7M$72.0M50xas long as short
Aftermath Perps ETHUSD+0.0133%1h2,745.5+0.040%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0159%8h2,744.5+0.004%$7.7M$670.4M4.9xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,747.9+0.128%$32.3M$11.4M100xas long as short
BloFin ETH-USDT+0.0218%8h2,745.4+0.035%$285.8M$180.2M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,746.3+0.069%$86.6M$310.0M100xas long as short
Reya ETHRUSDPERP+0.0227%1h2,744.1−0.012%$7.3M$1.2M25xas long as short
Deribit ETH-PERPETUAL+0.0231%1h2,747+0.095%$259.8M$195.3M50xas long as short
Hibachi ETH/USDT-P+0.0256%1h2,745.3+0.034%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.0402%1h2,745.7+0.048%$21K$20K25xas long as short