ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0176%/8h= −19.3% APRnext payment −$1.76 per $10,000 · paid last 24h −0.012%

Price spread now: Phemex against KuCoin+0.050%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$240.244% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.135%−$13 · spread now +0.050%, 7d avg −0.003%

Together, before fees−0.131%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.053% dearer against KuCoin than usual: you sell high and buy low (spread +0.050% now, against its 7-day average of −0.003%): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ETHUSDTM	2,730.6	0.0085	pay 0.0085% / 8h	7h 41m	$383.2M	$576.0M	100x
Short	Phemex ETHUSDT	2,732	−0.0091	pay 0.0091% / 8h	7h 41m	$263.3M	$63.7M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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

Position, each leg$Hold fordaysFee KuCoinbpFee PhemexbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$36.95
Price spread: +0.050% → −0.003%: $5.29
Slippage, 4 orders: −$0.36
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$56.01
Costs to cover: 0.244%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Phemex: live order book, 2 min ago.

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 KuCoin live order book, 7 min ago	0.02 bp	6.0 bp −$6	6.9 bp −$69	10.1 bp −$1,008	doesn't fit
Sell Phemex live order book, 2 min ago	0.02 bp	6.0 bp −$6	6.4 bp −$64	9.1 bp −$911	13.3 bp −$6,637

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
BloFin ETH-USDT	−0.0140%	8h	2,730.4	−0.007%	$280.2M	$177.7M	150x	as long as short
Perpl ETH	−0.0112%	43m	2,731.3	+0.024%	$277K	$5.7M	8.3x	as long as short
Phemex ETHUSDTshort	−0.0091%	8h	2,732	+0.050%	$263.3M	$63.7M	150x
Hotstuff ETH-PERP	−0.0080%	1h	2,731.3	+0.025%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0060%	8h	2,731.5	+0.030%	$1.05B	$1.21B	200x	as long as short
Bybit ETHUSDT	−0.0013%	8h	2,729.6	−0.038%	$2.32B	$4.31B	150x	as long as short
Phoenix ETH	−0.0012%	1h	2,733	+0.087%	$807K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,732.4	+0.064%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,732.6	+0.074%	$10.6M	$41.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,731.9	+0.047%	$6.7M	$672.0M	4.9x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ETH-PERPETUAL	0.0000%	1h	2,732.3	+0.060%	$264.6M	$218.7M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,732.4	+0.064%	$33.0M	—	200x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,732.8	+0.080%	$191K	$883K	50x	as long as short
SunX ETH-USDT	+0.0051%	8h	2,731	+0.013%	$940K	$10.7M	100x	as long as short
SoDEX ETH-USD	+0.0061%	1h	2,731.5	+0.032%	$54.4M	$182.5M	40x	as long as short
Hibachi ETH/USDT-P	+0.0072%	1h	2,731.4	+0.029%	$239K	$1.4M	20x	as long as short
ApeX Omni ETHUSDT	+0.0078%	1h	2,730.8	+0.008%	$8.4M	$31.2M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0078%	8h	2,729.7	−0.034%	$1.65B	$10.73B	100x	as long as short
Aster ETHUSDT	+0.0082%	8h	2,730.3	−0.010%	$252.1M	$849.6M	200x	as long as short
Gate ETH_USDT	+0.0083%	8h	2,730.1	−0.021%	$3.28B	$8.24B	200x	as long as short
KuCoin ETHUSDTMlong	+0.0085%	8h	2,730.6	long leg	$383.2M	$576.0M	100x
Binance ETHUSDT	+0.0092%	8h	2,730.4	−0.010%	$6.32B	$16.06B	150x	as long as short
MEXC ETH_USDT	+0.0093%	8h	2,730.4	−0.008%	$1.57B	$2.55B	500x	as long as short
Lighter ETH	+0.0096%	1h	2,731.6	+0.035%	$112.6M	$401.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,732.7	+0.075%	$23.7M	$95.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,731.9	+0.047%	—	$30.4M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,729.4	−0.045%	$4.9M	$195K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,732	+0.051%	$500K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,734.8	+0.152%	$15.4M	$7.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,731.5	+0.033%	$14.2M	$100.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,732.3	+0.062%	$3.11B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,732	+0.051%	$32.0M	$332.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,731.1	+0.018%	$2.7M	$16.5M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,732.4	+0.064%	$1.6M	$15.8M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,729.9	−0.028%	$2.11B	$2.75B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,729.5	−0.041%	—	$18.7M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,731.1	+0.017%	$15.2M	$39.9M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,731	+0.016%	$131.5M	$316.0M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,731.1	+0.018%	$185.8M	$686.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,731.6	+0.036%	$158.8M	$79.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,731.9	+0.047%	$21.0M	$70.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,733.6	+0.109%	—	$441K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,733.2	+0.094%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,732.2	+0.059%	$178K	$1.7M	20x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,731.8	+0.044%	$40.6M	$29.0M	15x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,730.8	+0.007%	$162.8M	$334.7M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,729.7	−0.035%	$30.5M	$71.2M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,732.2	+0.057%	$82.0M	$309.8M	100x	as long as short
Aftermath Perps ETHUSD	+0.0112%	1h	2,731.8	+0.042%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,732.6	+0.073%	$46.4M	$4.25B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,733	+0.086%	$5.7M	$11.4M	25x	as long as short
Reya ETHRUSDPERP	+0.0174%	1h	2,731.4	+0.028%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0185%	8h	2,734	+0.123%	$32.2M	$11.3M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,735.4	+0.175%	$293K	$20.1M	52x	as long as short
Bluefin ETH-PERP	+0.2429%	1h	2,759.6	+1.061%	$20K	$23K	25x	as long as short