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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 12:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h +0.004%
Price spread now: Backpack against KuCoin+0.016%7-day average +0.025% · you sell dearer than you buy
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$230.227% of the position
Long on KuCoinShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.107%+$11 on $10k
Price spread, last 7 days−1.057%−$106 · spread now +0.016%, 7d avg +0.025%
Together, before fees−0.950%−$95 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin ETHUSDTM2,739.50.0092pay 0.0092% / 8h4h 51m$378.2M$433.7M100x
ShortBackpack ETH_USDC_PERP2,7400.0100get 0.0013% / 1h51m 28s$15.0M$35.0M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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
$1.68
Price spread: +0.016% → +0.025%
−$0.93
Slippage, 4 orders
−$0.69
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$21.94
Costs to cover
0.227%
Break-even
98.4 days
Slippage from KuCoin: live order book, 6 min ago; Backpack: live order book, 1 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 KuCoin live order book, 6 min ago0.02 bp6.5 bp −$67.7 bp −$7710.2 bp −$1,018doesn't fit
Sell Backpack live order book, 1 min ago0.02 bp5.2 bp −$55.9 bp −$5914.5 bp −$1,452doesn't fit

ETH on 55 exchanges

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%1h2,742.5+0.108%$5K$1K50xas long as short
Hibachi ETH/USDT-P−0.0056%1h2,741.7+0.079%$231K$1.2M20xas long as short
GMX ETH/USD [ETH-USDC]L −0.0009% / S +0.0043%1h2,740.8+0.046%$12.2M—200xas long as short
Phoenix ETH−0.0009%1h2,742.6+0.112%$819K$2.8M25xas long as short
Kalshi KXETHPERP0.0000%8h2,740.9+0.050%$7.2M$654.9M4.9xas long as short
Perpl ETH0.0000%43m2,740.2+0.025%$269K$4.9M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,741.1+0.057%$33.1M—200xas long as short
Bybit ETHUSDT+0.0045%8h2,739.7+0.005%$2.37B$3.77B150xas long as short
01 Exchange ETHUSD+0.0048%1h2,740+0.017%$181K$907K50xas long as short
OKX ETH-USDT-SWAP+0.0073%8h2,739.7+0.008%$1.67B$9.00B100xas long as short
Show all 55 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
dYdX ETH-USD+0.0083%1h2,741+0.052%$15.2M$42.4M50xas long as short
ApeX Omni ETHUSDT+0.0085%1h2,743.8+0.156%$8.2M$25.0M100xas long as short
KuCoin ETHUSDTMlong+0.0092%8h2,739.5long leg$378.2M$433.7M100x
Lighter ETH+0.0096%1h2,740+0.019%$113.7M$381.5M50xas long as short
Lighter RH ETH+0.0096%1h2,741.1+0.055%$23.5M$93.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,740.6+0.039%—$23.3M500xas long as short
Aevo ETH-PERP+0.0096%1h2,738.3−0.047%$4.9M$247K20xas long as short
Deribit ETH-PERPETUAL+0.0097%1h2,741.9+0.086%$267.1M$180.4M50xas long as short
SoDEX ETH-USD+0.0099%1h2,740.6+0.039%$61.7M$121.7M40xas long as short
Katana Perps ETH-USD+0.0100%8h2,738.9−0.023%$516K$3.5M50xas long as short
Nado ETH-PERP+0.0100%1h2,740.2+0.025%$14.9M$93.4M50xas long as short
Aster ETHUSDT+0.0100%8h2,739.7+0.007%$254.9M$699.2M200xas long as short
Pacifica ETH+0.0100%1h2,740.6+0.039%$32.0M$320.6M50xas long as short
Binance ETHUSDT+0.0100%8h2,739.4−0.005%$6.41B$13.67B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,739.7+0.006%$2.8M$14.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,740.6+0.041%$1.6M$14.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,743.8+0.156%$163.0M$315.0M25xas long as short
Gate ETH_USDT+0.0100%8h2,739.7+0.005%$3.27B$7.60B200xas long as short
MEXC ETH_USDT+0.0100%8h2,739.4−0.005%$1.60B$2.29B500xas long as short
Bitget ETHUSDT+0.0100%8h2,739.5−0.003%$2.11B$2.25B150xas long as short
BingX ETH-USDT+0.0100%8h2,739.5−0.002%—$936.1M—as long as short
Backpack ETH_USDC_PERPshort+0.0100%1h2,740+0.016%$15.0M$35.0M50x
Variational Omni ETH+0.0100%8h2,741.8+0.083%$132.6M$273.7M—as long as short
edgeX ETHUSDC+0.0100%4h2,742.3+0.099%$184.5M$556.8M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.7+0.152%$159.5M$69.7M50xas long as short
StandX ETH-USD+0.0100%1h2,742+0.090%$21.1M$75.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,741+0.054%—$316K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,741+0.054%$11.2M$8.6M50xas long as short
Bullet ETH-USD+0.0100%1h2,740.6+0.039%$177K$1.6M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,740.9+0.049%$20K$7K25xas long as short
Derive ETH-PERP+0.0100%1h2,742.3+0.101%$40.9M$25.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,740.5+0.034%$944K$8.2M100xas long as short
HTX ETH-USDT+0.0100%8h2,740.3+0.028%$1.05B$992.5M200xas long as short
Phemex ETHUSDT+0.0100%8h2,741+0.053%$262.9M$56.2M150xas long as short
Hyperliquid ETH+0.0102%1h2,742+0.090%$3.14B$1.67B25xas long as short
Extended ETH-USD+0.0104%1h2,738.5−0.037%$30.2M$63.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,741.9+0.086%$47.7M$3.87B50xas long as short
Aftermath Perps ETHUSD+0.0113%1h2,742.4+0.103%$30K$8K20xas long as short
Kraken Futures PF_ETHUSD+0.0120%1h2,741.1+0.057%$82.6M$264.9M100xas long as short
Reya ETHRUSDPERP+0.0146%1h2,738.4−0.040%$7.3M$854K25xas long as short
Orderly PERP_ETH_USDC+0.0189%8h2,743+0.125%$32.4M$9.9M100xas long as short
RISEx ETH/USDC+0.0342%1h2,740.5+0.034%$5.7M$10.4M25xas long as short
BloFin ETH-USDT+0.0400%8h2,741.2+0.062%$285.6M$147.0M150xas long as short
Paradex ETH-USD-PERP+0.0455%8h2,741.8+0.082%$15.8M$6.1M50xas long as short
Injective ETH/USDC PERP+0.0477%1h2,745+0.200%$118K$24.7M52xas long as short