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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 16:00 UTC+0.0012%/8h= +1.3% APRnext payment +$0.12 per $10,000 · paid last 24h −0.009%
Price spread now: Phemex against MEXC+0.032%7-day average 0.000% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$140.141% of the position
Long on MEXCShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.010%−$1 on $10k
Price spread, last 4 days (all we have)−0.083%−$8 · spread now +0.032%, 7d avg 0.000%
Together, before fees−0.094%−$9 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Phemex is 0.032% dearer against MEXC than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of 0.000%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongMEXC ETH_USDT2,746.50.0088pay 0.0088% / 8h5h 51m$1.60B$2.34B500x
ShortPhemex ETHUSDT2,747.30.0100get 0.0100% / 8h5h 51m$263.9M$56.4M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex against MEXC. 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
$2.52
Price spread: +0.032% → 0.000%
$3.21
Slippage, 4 orders
−$0.07
Fee MEXC: 1 bp × 2 orders
−$2
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$8.34
Costs to cover
0.141%
Break-even
30.2 days
Slippage from MEXC: live order book, 6 min ago; Phemex: 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 MEXC live order book, 6 min ago0.02 bp1.0 bp −$11.0 bp −$101.5 bp −$1543.8 bp −$1,887
Sell Phemex live order book, 6 min ago0.02 bp6.0 bp −$66.3 bp −$639.4 bp −$94414.3 bp −$7,161

ETH on 54 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
Hibachi ETH/USDT-P−0.0120%1h2,748.1+0.059%$235K$1.2M20xas long as short
Hotstuff ETH-PERP−0.0080%1h2,749.4+0.107%$5K$1K50xas long as short
ApeX Omni ETHUSDT−0.0045%1h2,748.4+0.070%$8.3M$25.3M100xas long as short
GMX ETH/USD [ETH-USDC]L −0.0009% / S +0.0043%1h2,747.3+0.030%$12.2M—200xas long as short
Phoenix ETH−0.0009%1h2,750+0.129%$809K$2.8M25xas long as short
Kalshi KXETHPERP0.0000%8h2,746.8+0.012%$7.2M$661.2M4.9xas long as short
Perpl ETH0.0000%43m2,748+0.054%$269K$5.0M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,747.4+0.034%$33.2M—200xas long as short
Bybit ETHUSDT+0.0008%8h2,746.6+0.004%$2.37B$3.81B150xas long as short
OKX ETH-USDT-SWAP+0.0068%8h2,746.2−0.008%$1.67B$9.23B100xas long as short
Show all 54 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
01 Exchange ETHUSD+0.0072%1h2,746.9+0.016%$182K$928K50xas long as short
Gate ETH_USDT+0.0082%8h2,746.4−0.001%$3.27B$7.69B200xas long as short
Aster ETHUSDT+0.0083%8h2,746.2−0.010%$257.8M$719.7M200xas long as short
MEXC ETH_USDTlong+0.0088%8h2,746.5long leg$1.60B$2.34B500x
KuCoin ETHUSDTM+0.0088%8h2,746.1−0.015%$365.0M$440.8M100xas long as short
Aevo ETH-PERP+0.0088%1h2,744.4−0.074%$4.9M$214K20xas long as short
Binance ETHUSDT+0.0089%8h2,746.1−0.012%$6.41B$14.01B150xas long as short
Lighter ETH+0.0096%1h2,746.4−0.003%$113.7M$384.3M50xas long as short
Lighter RH ETH+0.0096%1h2,747.5+0.039%$23.7M$94.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,747.2+0.026%—$23.6M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,748.4+0.070%$46.2M$3.90B50xas long as short
Katana Perps ETH-USD+0.0100%8h2,745.8−0.024%$506K$3.5M50xas long as short
Nado ETH-PERP+0.0100%1h2,745.8−0.024%$14.6M$95.9M50xas long as short
Pacifica ETH+0.0100%1h2,747.1+0.022%$32.3M$325.1M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,747.8+0.049%$2.8M$14.2M25xas long as short
Arcus ETH-USD+0.0100%1h2,747.8+0.050%$1.5M$14.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,749.3+0.102%$164.5M$330.2M25xas long as short
Bitget ETHUSDT+0.0100%8h2,746.7+0.008%$2.11B$2.30B150xas long as short
BingX ETH-USDC+0.0100%8h2,745.7−0.029%—$18.5M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,746.7+0.007%$14.9M$36.1M50xas long as short
Variational Omni ETH+0.0100%8h2,747.8+0.050%$132.6M$290.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,748.3+0.067%$185.2M$607.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,749.4+0.106%$159.9M$69.4M50xas long as short
StandX ETH-USD+0.0100%1h2,748.5+0.074%$21.1M$75.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,747.9+0.054%—$348K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,747.7+0.045%$11.3M$8.6M50xas long as short
Bullet ETH-USD+0.0100%1h2,747+0.020%$177K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,746.6+0.005%$20K$14K25xas long as short
SunX ETH-USDT+0.0100%8h2,746.3−0.005%$946K$8.6M100xas long as short
SoDEX ETH-USD+0.0100%1h2,747.1+0.023%$61.8M$121.8M40xas long as short
HTX ETH-USDT+0.0100%8h2,746.8+0.012%$1.05B$1.05B200xas long as short
Phemex ETHUSDTshort+0.0100%8h2,747.3+0.032%$263.9M$56.4M150x
Extended ETH-USD+0.0104%1h2,745.5−0.036%$30.5M$65.2M50xas long as short
Kraken Futures PF_ETHUSD+0.0105%1h2,747.6+0.042%$82.5M$273.5M100xas long as short
Aftermath Perps ETHUSD+0.0107%1h2,748.3+0.066%$30K$8K20xas long as short
Deribit ETH-PERPETUAL+0.0140%1h2,748+0.056%$266.8M$184.9M50xas long as short
Reya ETHRUSDPERP+0.0156%1h2,745.3−0.044%$7.3M$832K25xas long as short
Orderly PERP_ETH_USDC+0.0174%8h2,749.2+0.099%$32.4M$9.9M100xas long as short
dYdX ETH-USD+0.0196%1h2,746.3−0.006%$15.2M$42.7M50xas long as short
RISEx ETH/USDC+0.0206%1h2,747.8+0.047%$5.7M$10.6M25xas long as short
Hyperliquid ETH+0.0253%1h2,749+0.092%$3.15B$1.73B25xas long as short
BloFin ETH-USDT+0.0360%8h2,747.7+0.046%$283.3M$149.7M150xas long as short
Injective ETH/USDC PERP+0.0461%1h2,751.5+0.184%$118K$21.7M52xas long as short
Paradex ETH-USD-PERP+0.0549%8h2,750.4+0.143%$16.0M$6.2M50xas long as short