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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 00:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h 0.000%
Price spread now: Deribit against Katana Perps−0.005%7-day average +0.040% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Katana PerpsShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.005%+$1 on $10k
Price spread, last 3 days (all we have)+0.022%+$2 · spread now −0.005%, 7d avg +0.040%
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 Deribit is 0.045% cheaper against Katana Perps than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.040%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps ETH-USD2,769.40.0100pay 0.0100% / 8h21m 08s$476K$2.8M50x
ShortDeribit ETH-PERPETUAL2,769.30.0064get 0.0008% / 1h21m 08s$259.0M$222.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit 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
−$7.52
Price spread: −0.005% → +0.040%
−$4.54
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
−$22.86
Costs to cover
0.108%
Break-even
never at this rate
Slippage unknown: Katana Perps: no order-book sample; Deribit: 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 Deribit live order book, 3 min ago0.09 bp4.4 bp −$45.6 bp −$5612.3 bp −$1,22920.7 bp −$10.4K
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−0.0223%43m2,770.1+0.027%$286K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,769.6+0.006%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,762.1−0.264%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,769.40.000%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0043%1h2,766.6−0.103%$8.8M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,770.7+0.047%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,769.9+0.020%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,769.9+0.018%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,768.8−0.021%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0022%8h2,769.2−0.006%$1.70B$11.88B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps ETHUSD+0.0023%1h2,771.4+0.071%$29K$22K20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,769.1−0.010%$12.8M—200xas long as short
Aster ETHUSDT+0.0030%8h2,769.2−0.006%$255.6M$1.00B200xas long as short
Phemex ETHUSDT+0.0036%8h2,768.6−0.028%$270.0M$68.9M150xas long as short
SoDEX ETH-USD+0.0036%1h2,767.7−0.061%$55.1M$229.1M40xas long as short
Bullet ETH-USD+0.0045%1h2,769.2−0.008%$182K$1.7M20xas long as short
Aevo ETH-PERP+0.0056%1h2,765.5−0.140%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0057%8h2,769.1−0.012%$1.61B$2.66B500xas long as short
Binance ETHUSDT+0.0058%8h2,769−0.016%$6.45B$17.31B150xas long as short
Deribit ETH-PERPETUALshort+0.0064%1h2,769.3−0.005%$259.0M$222.5M50x
Bitget ETHUSDT+0.0066%8h2,769.7+0.009%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0069%8h2,769.5+0.002%$3.28B$9.67B200xas long as short
KuCoin ETHUSDTM+0.0082%8h2,768.9−0.020%$420.7M$739.6M100xas long as short
Bybit ETHUSDT+0.0088%8h2,769.3−0.003%$2.50B$4.63B150xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,769.7+0.009%$60.1M$4.59B50xas long as short
BingX ETH-USDT+0.0089%8h2,769.8+0.013%—$1.23B—as long as short
Vest ETH-PERP+0.0094%1h2,770.1+0.026%—$1.1M50xas long as short
HTX ETH-USDT+0.0095%8h2,768.4−0.035%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,769.5+0.004%$115.1M$499.9M50xas long as short
Lighter RH ETH+0.0096%1h2,770.4+0.036%$25.3M$121.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,771.7+0.082%—$43.4M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,768.8−0.021%$15.9M$10.1M50xas long as short
Katana Perps ETH-USDlong+0.0100%8h2,769.4long leg$476K$2.8M50x
Nado ETH-PERP+0.0100%1h2,769.1−0.012%$14.3M$118.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,771.4+0.072%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,770.1+0.025%$31.2M$312.6M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,769.5+0.004%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,770.5+0.039%$2.7M$17.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,772.9+0.126%$167.0M$259.0M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,769.5+0.005%$15.1M$44.5M50xas long as short
Variational Omni ETH+0.0100%8h2,769−0.015%$147.5M$336.1M—as long as short
edgeX ETHUSDC+0.0100%4h2,766.1−0.118%$181.6M$784.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,767.9−0.053%$161.0M$89.3M50xas long as short
StandX ETH-USD+0.0100%1h2,767.1−0.083%$21.4M$58.6M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,769.8+0.014%$10.7M$8.0M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,768.7−0.026%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,768.6−0.028%$970K$13.9M100xas long as short
Derive ETH-PERP+0.0100%1h2,770.2+0.027%$42.6M$29.4M15xas long as short
Extended ETH-USD+0.0104%1h2,767.2−0.080%$32.5M$78.2M50xas long as short
Kalshi KXETHPERP+0.0113%8h2,770.2+0.029%$8.2M$687.1M4.9xas long as short
Kraken Futures PF_ETHUSD+0.0123%1h2,769.1−0.011%$88.7M$336.9M100xas long as short
Orderly PERP_ETH_USDC+0.0141%8h2,770.4+0.036%$32.6M$12.1M100xas long as short
BloFin ETH-USDT+0.0178%8h2,768.5−0.031%$286.6M$194.5M150xas long as short
Reya ETHRUSDPERP+0.0203%1h2,769−0.015%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0224%1h2,772.9+0.125%$251K$1.6M20xas long as short