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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.5% APRpaid last 24h −0.002%
Price spread now: Coinbase International against Katana Perps+0.038%7-day average +0.030% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Katana PerpsShort on Coinbase International
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.016%+$2 on $10k
Price spread, last 3 days (all we have)−0.044%−$4 · spread now +0.038%, 7d avg +0.030%
Together, before fees−0.029%−$3 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps ETH-USD2,772.80.0100pay 0.0100% / 8h1h 13m$477K$2.7M50x
ShortCoinbase International ETH-PERP-INTX2,773.90.0104get 0.0013% / 1h13m 21s$59.7M$4.60B50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Coinbase International 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
$0.88
Price spread: +0.038% → +0.030%
$0.85
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee Coinbase International: 5 bp × 2 orders
−$10
Net
−$12.06
Costs to cover
0.138%
Break-even
102.5 days
Slippage unknown: Katana Perps: no order-book sample; Coinbase International: live order book, 6 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 Coinbase International live order book, 6 min ago0.02 bp5.0 bp −$55.0 bp −$507.2 bp −$72019.7 bp −$9,832
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
Perpl ETH−0.0447%43m2,773.1+0.012%$287K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,772.2−0.021%$5.7M$11.9M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,773.9+0.040%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,779.6+0.245%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,772.9+0.004%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0003%1h2,776.2+0.123%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,774.2+0.051%$12.7M$45.6M50xas long as short
Phoenix ETH0.0000%1h2,775.9+0.112%$885K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,773+0.008%$22.4M—200xas long as short
BingX ETH-USDC+0.0015%8h2,771.9−0.032%—$17.4M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0019%8h2,772−0.029%$1.70B$11.84B100xas long as short
Deribit ETH-PERPETUAL+0.0020%1h2,774+0.044%$258.4M$222.4M50xas long as short
Phemex ETHUSDT+0.0024%8h2,772.5−0.010%$269.8M$68.6M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,772.9+0.005%$12.9M—200xas long as short
Bullet ETH-USD+0.0029%1h2,772.1−0.024%$181K$1.7M20xas long as short
Aster ETHUSDT+0.0037%8h2,772.3−0.017%$256.2M$992.5M200xas long as short
Nado ETH-PERP+0.0060%1h2,772.3−0.017%$14.2M$118.2M50xas long as short
Aevo ETH-PERP+0.0064%1h2,771.4−0.049%$5.0M$636K20xas long as short
Binance ETHUSDT+0.0064%8h2,772.1−0.024%$6.43B$17.21B150xas long as short
MEXC ETH_USDT+0.0065%8h2,772.2−0.023%$1.61B$2.67B500xas long as short
ApeX Omni ETHUSDT+0.0066%1h2,775.6+0.100%$8.8M$32.6M100xas long as short
SoDEX ETH-USD+0.0067%1h2,772.5−0.011%$55.2M$228.9M40xas long as short
Bitget ETHUSDT+0.0068%8h2,772.3−0.019%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0072%8h2,772.2−0.021%$3.29B$9.66B200xas long as short
Bybit ETHUSDT+0.0092%8h2,772.2−0.021%$2.52B$4.62B150xas long as short
HTX ETH-USDT+0.0092%8h2,772.2−0.022%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,773.1+0.012%$115.0M$502.4M50xas long as short
Lighter RH ETH+0.0096%1h2,775.2+0.085%$25.4M$121.7M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,773.1+0.010%—$41.6M500xas long as short
KuCoin ETHUSDTM+0.0097%8h2,772.9+0.003%$422.2M$739.0M100xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,772.7−0.003%$15.9M$10.5M50xas long as short
Katana Perps ETH-USDlong+0.0100%8h2,772.8long leg$477K$2.7M50x
Hyperliquid ETH+0.0100%1h2,775+0.078%$3.19B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,773.5+0.027%$31.2M$302.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,772.2−0.022%$2.8M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,773.7+0.032%$2.7M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,778.9+0.221%$165.9M$253.8M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,774.6+0.064%$15.2M$44.1M50xas long as short
Variational Omni ETH+0.0100%8h2,774.7+0.070%$141.6M$331.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,775.7+0.105%$181.7M$784.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,775.8+0.107%$161.4M$91.4M50xas long as short
StandX ETH-USD+0.0100%1h2,774.5+0.061%$21.4M$58.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,773.3+0.018%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,773.7+0.032%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,773.5+0.023%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,774.5+0.061%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,773+0.007%$972K$14.0M100xas long as short
Extended ETH-USD+0.0104%1h2,771.6−0.042%$32.6M$77.7M50xas long as short
Coinbase International ETH-PERP-INTXshort+0.0104%1h2,773.9+0.038%$59.7M$4.60B50x
Kalshi KXETHPERP+0.0126%8h2,775.6+0.101%$8.4M$680.3M4.9xas long as short
Orderly PERP_ETH_USDC+0.0136%8h2,774.9+0.077%$32.5M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0170%1h2,773.6+0.028%$86.0M$332.4M100xas long as short
BloFin ETH-USDT+0.0184%8h2,772.5−0.010%$283.9M$194.3M150xas long as short
Reya ETHRUSDPERP+0.0194%1h2,772.1−0.026%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0240%1h2,776.3+0.124%$270K$1.5M20xas long as short