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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 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.017%
Price spread now: Derive against Katana Perps+0.071%7-day average +0.057% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Katana PerpsShort on Derive
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 4 days (all we have)−0.088%−$9 · spread now +0.071%, 7d avg +0.057%
Together, before fees−0.042%−$4 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps ETH-USD2,731.80.0100pay 0.0100% / 8h4h 21m$500K$3.2M50x
ShortDerive ETH-PERP2,733.70.0100get 0.0013% / 1h21m 21s$41.3M$29.9M15x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Derive 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: +0.071% → +0.057%
$1.44
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee Derive: 3 bp × 2 orders
−$6
Net
−$8.31
Costs to cover
0.098%
Break-even
1326.2 days
Slippage unknown: Katana Perps: no order-book sample; Derive: 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
LegHalf-spread$10k$100k$1M$5M
Buy Katana Perps no order-book sample—————
Sell Derive no order-book sample—————
Katana Perps and Derive: 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%43m2,732.7+0.033%$297K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,734.2+0.088%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,734.6+0.102%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,732.4+0.021%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,733+0.043%$10.8M$41.6M50xas long as short
01 Exchange ETHUSD0.0000%1h2,732.8+0.037%$187K$823K50xas long as short
Phoenix ETH0.0000%1h2,735+0.117%$830K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,732.4+0.023%$28.1M—200xas long as short
Bullet ETH-USD+0.0008%1h2,732+0.007%$178K$1.7M20xas long as short
ApeX Omni ETHUSDT+0.0043%1h2,735+0.115%$8.7M$31.3M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX ETH-USDT+0.0048%8h2,731.7−0.004%$1.06B$1.20B200xas long as short
BingX ETH-USDC+0.0055%8h2,731.6−0.008%—$18.4M—as long as short
Bybit ETHUSDT+0.0063%8h2,731.80.000%$2.38B$4.35B150xas long as short
KuCoin ETHUSDTM+0.0065%8h2,732.3+0.020%$380.0M$574.6M100xas long as short
OKX ETH-USDT-SWAP+0.0071%8h2,732.1+0.011%$1.67B$10.71B100xas long as short
Phemex ETHUSDT+0.0071%8h2,733.6+0.066%$265.8M$65.3M150xas long as short
Aster ETHUSDT+0.0087%8h2,732.3+0.018%$250.9M$842.6M200xas long as short
SoDEX ETH-USD+0.0088%1h2,732.5+0.026%$54.4M$187.6M40xas long as short
MEXC ETH_USDT+0.0095%8h2,731.9+0.004%$1.54B$2.56B500xas long as short
Binance ETHUSDT+0.0095%8h2,732.1+0.011%$6.35B$15.87B150xas long as short
Lighter ETH+0.0096%1h2,732.9+0.038%$112.9M$440.1M50xas long as short
Lighter RH ETH+0.0096%1h2,734+0.079%$23.4M$106.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,732.9+0.042%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,729.7−0.078%$4.9M$155K20xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,736.8+0.184%$15.5M$8.0M50xas long as short
RISEx ETH/USDC+0.0099%1h2,732.6+0.031%$5.5M$11.6M25xas long as short
Katana Perps ETH-USDlong+0.0100%8h2,731.8long leg$500K$3.2M50x
Nado ETH-PERP+0.0100%1h2,732.2+0.016%$13.7M$104.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,734.8+0.110%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,733.5+0.062%$31.9M$334.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,732.7+0.033%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,732.9+0.038%$1.6M$16.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,732.3+0.017%$3.34B$8.90B200xas long as short
Bitget ETHUSDT+0.0100%8h2,732.2+0.014%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,732.2+0.016%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,732.8+0.035%$133.6M$325.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,734.1+0.085%$183.9M$671.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,734.9+0.112%$159.1M$86.4M50xas long as short
StandX ETH-USD+0.0100%1h2,734.3+0.092%$21.1M$68.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,733.7+0.071%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,734+0.081%$11.2M$9.2M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,732.2+0.015%$21K$20K25xas long as short
Derive ETH-PERPshort+0.0100%1h2,733.7+0.071%$41.3M$29.9M15x
SunX ETH-USDT+0.0100%8h2,731.4−0.015%$958K$11.3M100xas long as short
Bulk ETH-USD+0.0100%1h2,734.8+0.111%$164.8M$300.4M25xas long as short
Extended ETH-USD+0.0104%1h2,731.4−0.016%$30.3M$72.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,733.5+0.063%$51.3M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0115%1h2,734.7+0.105%$30K$20K20xas long as short
Deribit ETH-PERPETUAL+0.0127%1h2,733.9+0.078%$260.1M$195.7M50xas long as short
Kalshi KXETHPERP+0.0139%8h2,734.4+0.095%$6.7M$678.2M4.9xas long as short
Orderly PERP_ETH_USDC+0.0194%8h2,734.4+0.094%$32.2M$11.6M100xas long as short
Reya ETHRUSDPERP+0.0219%1h2,731.80.000%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,733.1+0.047%$83.3M$314.7M100xas long as short
Hibachi ETH/USDT-P+0.0264%1h2,735.3+0.127%$253K$1.4M20xas long as short
BloFin ETH-USDT+0.0379%8h2,735.3+0.127%$282.7M$175.2M150xas long as short