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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−0.0023%/8h= −2.5% APRnext payment −$0.03 per $10,000 · paid last 24h −0.001%
Price spread now: Polymarket Perps against Kraken Futures+0.005%48s7-day average +0.005% · you sell dearer than you buy
Net, funding: paid 7d − costs−$23as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$210.205% of the position
Long on Kraken FuturesShort on Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 7 days−0.027%−$3 on $10k
Price spread, last 3 days (all we have)+0.017%+$2 · spread now +0.005%, 7d avg +0.005%
Together, before fees−0.011%−$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.005%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_ETHUSD2,767.70.0123pay 0.0015% / 1h23m 25s$87.0M$335.4M100x
ShortPolymarket Perps ETH-USD2,767.80.0100get 0.0013% / 1h23m 25s$10.6M$8.0M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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
−$4.85
Price spread: +0.005% → +0.005%
$0.04
Slippage, 4 orders
−$2.52
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
−$25.34
Costs to cover
0.205%
Break-even
never at this rate
Slippage from Kraken Futures: live order book, 6 min ago; Polymarket Perps: live order book, 6 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, 6 min ago0.18 bp6.0 bp −$67.5 bp −$759.0 bp −$89913.5 bp −$6,735
Sell Polymarket Perps live order book, 6 min ago0.18 bp5.0 bp −$56.2 bp −$6213.6 bp −$1,356doesn't fit

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%43m2,767.2−0.017%$285K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0206%1h2,766.6−0.038%$5.6M$11.9M25xas long as short
Injective ETH/USDC PERP−0.0088%1h2,781.9+0.515%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,767.2−0.016%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0039%1h2,768.4+0.027%$8.8M$32.9M100xas long as short
01 Exchange ETHUSD−0.0008%1h2,767.2−0.016%$168K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,767−0.023%$12.7M$45.9M50xas long as short
Phoenix ETH+0.0003%1h2,771.1+0.125%$876K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,768.7+0.038%$22.4M—200xas long as short
BingX ETH-USDC+0.0016%8h2,767.5−0.005%—$17.4M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0021%8h2,767.2−0.018%$1.70B$11.86B100xas long as short
Aftermath Perps ETHUSD+0.0024%1h2,771.6+0.142%$29K$22K20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0026% / S +0.0009%1h2,768.4+0.027%$12.8M—200xas long as short
Aster ETHUSDT+0.0029%8h2,768+0.012%$255.5M$1.00B200xas long as short
SoDEX ETH-USD+0.0032%1h2,766.3−0.049%$55.1M$229.0M40xas long as short
Phemex ETHUSDT+0.0036%8h2,767.3−0.013%$269.8M$69.0M150xas long as short
Deribit ETH-PERPETUAL+0.0043%1h2,767.8+0.006%$259.0M$222.4M50xas long as short
Bullet ETH-USD+0.0044%1h2,767.8+0.007%$182K$1.7M20xas long as short
Aevo ETH-PERP+0.0056%1h2,763.8−0.138%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0058%8h2,767.7+0.002%$1.60B$2.65B500xas long as short
Binance ETHUSDT+0.0058%8h2,767.9+0.007%$6.44B$17.31B150xas long as short
Bitget ETHUSDT+0.0066%8h2,767.1−0.020%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0069%8h2,767.70.000%$3.28B$9.66B200xas long as short
KuCoin ETHUSDTM+0.0082%8h2,767−0.024%$420.5M$739.6M100xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,768+0.014%$60.0M$4.58B50xas long as short
Bybit ETHUSDT+0.0089%8h2,768.5+0.032%$2.50B$4.63B150xas long as short
Vest ETH-PERP+0.0094%1h2,767.7+0.002%—$1.1M50xas long as short
HTX ETH-USDT+0.0095%8h2,766−0.059%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,766.8−0.032%$115.0M$499.7M50xas long as short
Lighter RH ETH+0.0096%1h2,767.5−0.007%$25.2M$121.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,766.8−0.032%—$43.4M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,766.6−0.039%$15.9M$10.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,766.1−0.056%$475K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,766.5−0.043%$14.3M$118.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,769.5+0.067%$3.17B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,767.5−0.006%$31.2M$312.6M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,765.6−0.074%$2.8M$17.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,767.60.000%$2.7M$17.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,772.9+0.190%$167.0M$259.0M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,765.9−0.065%$15.1M$44.4M50xas long as short
Variational Omni ETH+0.0100%8h2,770.3+0.097%$147.5M$336.1M—as long as short
edgeX ETHUSDC+0.0100%4h2,768.5+0.029%$181.7M$783.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,771.2+0.129%$161.1M$89.0M50xas long as short
StandX ETH-USD+0.0100%1h2,768.8+0.041%$21.4M$58.6M40xas long as short
Polymarket Perps ETH-USDshort+0.0100%1h2,767.8+0.005%$10.6M$8.0M50x
Bluefin ETH-PERP+0.0100%1h2,768.1+0.017%$21K$24K25xas long as short
SunX ETH-USDT+0.0100%8h2,767.3−0.013%$970K$13.9M100xas long as short
Derive ETH-PERP+0.0100%1h2,769+0.047%$42.6M$29.4M15xas long as short
Extended ETH-USD+0.0104%1h2,766.2−0.051%$32.5M$78.2M50xas long as short
Kalshi KXETHPERP+0.0113%8h2,768.9+0.045%$8.2M$687.2M4.9xas long as short
Kraken Futures PF_ETHUSDlong+0.0123%1h2,767.7long leg$87.0M$335.4M100x
Orderly PERP_ETH_USDC+0.0141%8h2,770.9+0.119%$32.6M$12.1M100xas long as short
BloFin ETH-USDT+0.0178%8h2,770+0.084%$287.3M$194.2M150xas long as short
Reya ETHRUSDPERP+0.0203%1h2,767.5−0.007%$7.3M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0224%1h2,768.9+0.045%$251K$1.6M20xas long as short