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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 01:00 UTC−0.0852%/8h= −93.3% APRpaid last 24h −0.027%
Price spread now: Injective against Katana Perps+0.065%7-day average +0.060% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Katana PerpsShort on Injective
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.025%−$3 on $10k
Price spread, last 3 days (all we have)−0.196%−$20 · spread now +0.065%, 7d avg +0.060%
Together, before fees−0.221%−$22 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.060%, so right now this pair is about funding alone: −$26 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.025% in total (about -2.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKatana Perps ETH-USD2,769.80.0100pay 0.0100% / 8h7h 55m$483K$2.9M50x
ShortInjective ETH/USDC PERP2,771.6−0.0752pay 0.0094% / 1h55m 37s$119K$22.5M52x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Injective 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
−$178.89
Price spread: +0.065% → +0.060%
$0.53
Slippage, 4 orders
no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders
−$3.8
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
−$182.18
Costs to cover
0.038%
Break-even
never at this rate
Slippage unknown: Katana Perps: no order-book sample; Injective: live order book, 4 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 Injective live order book, 4 min ago15.49 bp45.0 bp −$4546.0 bp −$46046.1 bp −$4,610doesn't fit
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
Injective ETH/USDC PERPshort−0.0752%1h2,771.6+0.065%$119K$22.5M52x
Perpl ETH−0.0223%43m2,769.1−0.024%$284K$6.8M8.3xas long as short
RISEx ETH/USDC−0.0128%1h2,769.9+0.005%$5.7M$11.9M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,771.2+0.051%$5K$1K50xas long as short
01 Exchange ETHUSD−0.0024%1h2,770.3+0.018%$168K$1.2M50xas long as short
Bullet ETH-USD−0.0013%1h2,768.6−0.045%$182K$1.7M20xas long as short
SoDEX ETH-USD−0.0007%1h2,769.2−0.022%$55.1M$228.8M40xas long as short
ApeX Omni ETHUSDT−0.0005%1h2,773.8+0.144%$8.7M$32.9M100xas long as short
dYdX ETH-USD0.0000%1h2,769.1−0.027%$12.7M$45.8M50xas long as short
Kalshi KXETHPERP0.0000%8h2,771.4+0.058%$8.1M$690.0M4.9xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix ETH+0.0003%1h2,771.4+0.058%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,769.5−0.010%$22.4M—200xas long as short
OKX ETH-USDT-SWAP+0.0020%8h2,767.7−0.074%$1.70B$11.77B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,769.4−0.015%$12.8M—200xas long as short
Aftermath Perps ETHUSD+0.0035%1h2,773+0.117%$29K$22K20xas long as short
Aster ETHUSDT+0.0038%8h2,768.9−0.034%$255.6M$1.00B200xas long as short
Gate ETH_USDT+0.0043%8h2,769.2−0.023%$3.29B$8.88B200xas long as short
Aevo ETH-PERP+0.0056%1h2,769.7−0.005%$5.0M$326K20xas long as short
MEXC ETH_USDT+0.0057%8h2,767.9−0.069%$1.61B$2.62B500xas long as short
Binance ETHUSDT+0.0058%8h2,768−0.065%$6.45B$17.18B150xas long as short
Bybit ETHUSDT+0.0063%8h2,767.8−0.071%$2.51B$4.59B150xas long as short
Bitget ETHUSDT+0.0066%8h2,768.1−0.063%$2.10B$3.07B150xas long as short
Deribit ETH-PERPETUAL+0.0079%1h2,770.2+0.016%$259.1M$220.9M50xas long as short
KuCoin ETHUSDTM+0.0080%8h2,769.4−0.016%$422.2M$735.1M100xas long as short
Coinbase International ETH-PERP-INTX+0.0080%1h2,770.8+0.035%$60.8M$4.57B50xas long as short
Phemex ETHUSDT+0.0082%8h2,769.2−0.022%$269.7M$68.1M150xas long as short
Vest ETH-PERP+0.0095%1h2,769.8+0.002%—$1.1M50xas long as short
Lighter ETH+0.0096%1h2,768.3−0.053%$115.0M$455.8M50xas long as short
Lighter RH ETH+0.0096%1h2,770.1+0.009%$25.2M$109.4M50xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,767.4−0.088%$15.9M$9.8M50xas long as short
Katana Perps ETH-USDlong+0.0100%8h2,769.8long leg$483K$2.9M50x
Nado ETH-PERP+0.0100%1h2,770.2+0.013%$14.4M$117.9M50xas long as short
Hyperliquid ETH+0.0100%1h2,770.8+0.036%$3.17B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,769.1−0.025%$31.2M$319.4M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,768−0.065%$2.8M$17.3M25xas long as short
Arcus ETH-USD+0.0100%1h2,768.2−0.058%$2.7M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,770.5+0.026%$170.6M$266.1M25xas long as short
BingX ETH-USDT+0.0100%8h2,769.2−0.022%—$1.24B—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,769.7−0.004%$15.2M$44.1M50xas long as short
Variational Omni ETH+0.0100%8h2,771.4+0.059%$151.3M$343.5M—as long as short
edgeX ETHUSDC+0.0100%4h2,774.3+0.162%$182.1M$783.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,776+0.225%$161.4M$88.9M50xas long as short
StandX ETH-USD+0.0100%1h2,770.9+0.040%$21.4M$58.5M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,769.4−0.014%$10.6M$8.1M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,769.7−0.003%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,771.2+0.049%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,768.4−0.052%$971K$13.8M100xas long as short
HTX ETH-USDT+0.0100%8h2,768.9−0.032%$1.08B$1.31B200xas long as short
Extended ETH-USD+0.0104%1h2,769.3−0.019%$32.5M$78.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0048%1h2,771.9+0.076%—$41.7M500xas long as short
Kraken Futures PF_ETHUSD+0.0134%1h2,770.8+0.037%$90.7M$328.3M100xas long as short
Orderly PERP_ETH_USDC+0.0146%8h2,771.4+0.058%$32.6M$12.1M100xas long as short
BloFin ETH-USDT+0.0177%8h2,770.6+0.027%$286.6M$192.8M150xas long as short
Hibachi ETH/USDT-P+0.0192%1h2,772+0.079%$252K$1.6M20xas long as short
Reya ETHRUSDPERP+0.0207%1h2,768.7−0.040%$7.3M$1.2M25xas long as short