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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 08:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h −0.036%
Price spread now: OKX against Kraken Futures−0.031%7-day average −0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$200.205% of the position
Long on Kraken FuturesShort on OKX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.135%−$13 on $10k
Price spread, last 4 days (all we have)+0.030%+$3 · spread now −0.031%, 7d avg −0.018%
Together, before fees−0.105%−$10 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.135%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_ETHUSD2,7300.0060pay 0.0007% / 1h59m 15s$82.1M$309.7M100x
ShortOKX ETH-USDT-SWAP2,729.20.0079get 0.0079% / 8h59m 15s$1.65B$10.86B100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

OKX against Kraken Futures. 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
$3.97
Price spread: −0.031% → −0.018%
−$1.33
Slippage, 4 orders
−$0.49
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee OKX: 5 bp × 2 orders
−$10
Net
−$17.85
Costs to cover
0.205%
Break-even
38.5 days
Slippage from Kraken Futures: live order book, 5 min ago; OKX: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kraken Futures live order book, 5 min ago0.18 bp5.2 bp −$57.0 bp −$708.6 bp −$86111.8 bp −$5,878
Sell OKX live order book, 5 min ago0.02 bp5.0 bp −$55.0 bp −$505.3 bp −$5276.8 bp −$3,418

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
Hotstuff ETH-PERP−0.0080%1h2,729.9−0.004%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,729.9−0.003%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,7300.000%$812K$3.0M25xas long as short
dYdX ETH-USD0.0000%1h2,729.8−0.008%$10.5M$42.8M50xas long as short
Kalshi KXETHPERP0.0000%8h2,730.2+0.007%$6.5M$681.9M4.9xas long as short
Perpl ETH0.0000%43m2,729.5−0.018%$288K$5.8M8.3xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,730.5+0.018%$262.5M$213.4M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,729.9−0.004%$32.9M—200xas long as short
ApeX Omni ETHUSDT+0.0012%1h2,728.8−0.044%$8.6M$31.6M100xas long as short
BingX ETH-USDT+0.0022%8h2,729.4−0.023%—$1.10B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDT+0.0025%8h2,729.1−0.033%$2.33B$4.38B150xas long as short
HTX ETH-USDT+0.0030%8h2,729.3−0.028%$1.05B$1.22B200xas long as short
01 Exchange ETHUSD+0.0040%1h2,730.2+0.007%$191K$890K50xas long as short
Injective ETH/USDC PERP+0.0050%1h2,734.2+0.153%$117K$20.2M52xas long as short
Kraken Futures PF_ETHUSDlong+0.0060%1h2,730long leg$82.1M$309.7M100x
KuCoin ETHUSDTM+0.0068%8h2,729.5−0.019%$385.6M$577.4M100xas long as short
OKX ETH-USDT-SWAPshort+0.0079%8h2,729.2−0.031%$1.65B$10.86B100x
Aster ETHUSDT+0.0081%8h2,729.6−0.017%$252.8M$847.7M200xas long as short
MEXC ETH_USDT+0.0092%8h2,729.5−0.019%$1.54B$2.55B500xas long as short
Binance ETHUSDT+0.0093%8h2,729.6−0.014%$6.33B$16.12B150xas long as short
Bullet ETH-USD+0.0096%1h2,729.5−0.019%$187K$1.7M20xas long as short
Lighter ETH+0.0096%1h2,730.2+0.005%$112.6M$428.2M50xas long as short
Lighter RH ETH+0.0096%1h2,731.5+0.054%$23.5M$101.7M50xas long as short
Aevo ETH-PERP+0.0096%1h2,727−0.109%$4.9M$174K20xas long as short
Phemex ETHUSDT+0.0096%8h2,729.8−0.008%$262.9M$64.4M150xas long as short
SoDEX ETH-USD+0.0098%1h2,729.4−0.022%$54.4M$187.2M40xas long as short
Katana Perps ETH-USD+0.0100%8h2,729.5−0.019%$501K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,733.9+0.141%$15.4M$7.8M50xas long as short
Nado ETH-PERP+0.0100%1h2,729.3−0.026%$14.1M$104.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,731.4+0.051%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,730.5+0.017%$32.2M$333.8M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,729.1−0.033%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,730.3+0.011%$1.5M$16.0M25xas long as short
Gate ETH_USDT+0.0100%8h2,729.6−0.015%$3.30B$8.83B200xas long as short
Bitget ETHUSDT+0.0100%8h2,729.5−0.020%$2.10B$2.77B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,730.5+0.019%$15.1M$41.7M50xas long as short
Variational Omni ETH+0.0100%8h2,728−0.074%$134.0M$320.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,728.7−0.047%$185.5M$683.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,729.2−0.030%$158.6M$83.7M50xas long as short
StandX ETH-USD+0.0100%1h2,730.8+0.029%$21.0M$70.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,731.2+0.043%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,730.8+0.029%$11.2M$9.5M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,730.3+0.010%$22K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,732.6+0.096%$40.9M$30.1M15xas long as short
SunX ETH-USDT+0.0100%8h2,729.2−0.031%$957K$10.9M100xas long as short
Bulk ETH-USD+0.0100%1h2,729−0.038%$162.7M$352.6M25xas long as short
Aftermath Perps ETHUSD+0.0102%1h2,731.2+0.044%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,728.6−0.051%$30.4M$72.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,729.8−0.008%—$30.5M500xas long as short
Hibachi ETH/USDT-P+0.0112%1h2,729.7−0.010%$243K$1.4M20xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,730.8+0.028%$46.5M$4.30B50xas long as short
RISEx ETH/USDC+0.0114%1h2,730.5+0.016%$5.6M$11.6M25xas long as short
BloFin ETH-USDT+0.0144%8h2,729.9−0.006%$281.2M$177.3M150xas long as short
Orderly PERP_ETH_USDC+0.0185%8h2,731.8+0.066%$32.2M$11.4M100xas long as short
Reya ETHRUSDPERP+0.0186%1h2,728.8−0.046%$7.3M$975K25xas long as short