ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.004%

Price spread now: Kalshi against Katana Perps+0.059%7-day average +0.029% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Katana Perps Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.052%−$5 on $10k

Price spread, last 7 days+0.009%+$1 · spread now +0.059%, 7d avg +0.029%

Together, before fees−0.043%−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.030% dearer against Katana Perps than usual: you sell high and buy low (spread +0.059% now, against its 7-day average of +0.029%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 4 days (−0.052% in total) that is about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps ETH-USD	2,729.5	0.0100	pay 0.0100% / 8h	3h 18m	$500K	$3.4M	50x
Short	Kalshi KXETHPERP	2,731.1	0	get 0.0000% / 8h	7h 18m	$6.4M	$685.0M	4.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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

Position, each leg$Hold fordaysFee Katana PerpsbpFee KalshibpOrdersPrice spread, now +0.059%Rate

Funding earned: −$20.96
Price spread: +0.059% → +0.029%: $2.97
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$31.79
Costs to cover: 0.138%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; Kalshi: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Katana Perps no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 6 min ago	0.18 bp	5.2 bp −$5	7.0 bp −$70	10.8 bp −$1,081	16.1 bp −$8,067

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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ETH	−0.0335%	43m	2,729.6	+0.005%	$297K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,731	+0.055%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0015%	8h	2,729.5	0.000%	$1.05B	$1.20B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,730.2	+0.026%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,731.7	+0.081%	$817K	$2.9M	25x	as long as short
Kalshi KXETHPERPshort	0.0000%	8h	2,731.1	+0.059%	$6.4M	$685.0M	4.9x
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,731.1	+0.057%	$28.0M	—	200x	as long as short
dYdX ETH-USD	+0.0007%	1h	2,731	+0.055%	$10.7M	$42.1M	50x	as long as short
Bullet ETH-USD	+0.0026%	1h	2,730.5	+0.035%	$178K	$1.7M	20x	as long as short
BingX ETH-USDC	+0.0030%	8h	2,729.1	−0.014%	—	$18.4M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0034%	8h	2,729.6	+0.004%	$2.36B	$4.38B	150x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,730.2	+0.026%	$187K	$814K	50x	as long as short
KuCoin ETHUSDTM	+0.0065%	8h	2,730.4	+0.033%	$377.3M	$574.8M	100x	as long as short
SunX ETH-USDT	+0.0066%	8h	2,729	−0.018%	$957K	$11.2M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0072%	1h	2,731.9	+0.086%	$258.6M	$201.6M	50x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,730.2	+0.025%	$1.67B	$10.75B	100x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,727.7	−0.066%	$4.9M	$155K	20x	as long as short
Aster ETHUSDT	+0.0080%	8h	2,729.6	+0.002%	$250.7M	$840.1M	200x	as long as short
SoDEX ETH-USD	+0.0083%	1h	2,730.6	+0.040%	$54.4M	$187.8M	40x	as long as short
Phemex ETHUSDT	+0.0085%	8h	2,731	+0.056%	$264.7M	$64.9M	150x	as long as short
ApeX Omni ETHUSDT	+0.0085%	1h	2,730.9	+0.052%	$8.6M	$31.1M	100x	as long as short
MEXC ETH_USDT	+0.0087%	8h	2,730.5	+0.036%	$1.55B	$2.57B	500x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,729.5	−0.001%	$6.33B	$15.95B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,730.1	+0.021%	$112.3M	$434.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,731.2	+0.063%	$23.4M	$104.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,731.8	+0.085%	—	$31.0M	500x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,731.2	+0.062%	$117K	$22.5M	52x	as long as short
Katana Perps ETH-USDlong	+0.0100%	8h	2,729.5	long leg	$500K	$3.4M	50x
Paradex ETH-USD-PERP	+0.0100%	8h	2,730.4	+0.034%	$15.5M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,729.6	+0.002%	$13.9M	$104.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,732.3	+0.103%	$3.09B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,730.6	+0.040%	$31.9M	$334.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,729.4	−0.004%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,730.1	+0.022%	$1.5M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,728.2	−0.047%	$169.5M	$307.4M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,729.4	−0.004%	$3.33B	$8.93B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,730.4	+0.034%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,730.7	+0.044%	$14.9M	$41.3M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,730.3	+0.031%	$134.3M	$322.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,729	−0.018%	$183.6M	$672.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,731.4	+0.071%	$158.9M	$86.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,730.4	+0.033%	$21.0M	$69.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,731.1	+0.060%	—	$845K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,732.3	+0.103%	$11.2M	$9.4M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,730.7	+0.043%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,732.2	+0.097%	$41.0M	$29.9M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,728.4	−0.040%	$30.5M	$73.4M	50x	as long as short
Aftermath Perps ETHUSD	+0.0107%	1h	2,731.4	+0.069%	$30K	$20K	20x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,730	+0.017%	$5.6M	$11.8M	25x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,732.4	+0.107%	$50.6M	$4.28B	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,731.8	+0.085%	$83.6M	$315.9M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0192%	8h	2,732.6	+0.112%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0209%	1h	2,729.6	+0.004%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0232%	1h	2,731.2	+0.064%	$246K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0350%	8h	2,730.6	+0.040%	$283.0M	$174.8M	150x	as long as short