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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 04:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h +0.011%
Price spread now: Bullet against OKX−0.027%7-day average +0.017% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$210.208% of the position
Long on OKXShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.002%$0 on $10k
Price spread, last 7 days+0.020%+$2 · spread now −0.027%, 7d avg +0.017%
Together, before fees+0.022%+$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bullet is 0.044% cheaper against OKX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.017%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX ETH-USDT-SWAP2,734.80.0070pay 0.0070% / 8h4h 23m$1.67B$10.72B100x
ShortBullet ETH-USD2,734.10.0007get 0.0001% / 1h23m 12s$179K$1.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against OKX. 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
−$13.36
Price spread: −0.027% → +0.017%
−$4.39
Slippage, 4 orders
−$2.84
Fee OKX: 5 bp × 2 orders
−$10
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$38.59
Costs to cover
0.208%
Break-even
never at this rate
Slippage from OKX: live order book, 6 min ago; Bullet: 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 OKX live order book, 6 min ago0.02 bp5.0 bp −$55.0 bp −$505.1 bp −$5067.8 bp −$3,877
Sell Bullet live order book, 1 min ago0.18 bp5.1 bp −$58.2 bp −$82doesn't fitdoesn'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−0.0447%43m2,734.9+0.001%$297K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,735.3+0.017%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,735.7+0.031%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,734.8−0.002%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,735.1+0.010%$10.8M$41.6M50xas long as short
01 Exchange ETHUSD0.0000%1h2,734.9+0.002%$187K$823K50xas long as short
Phoenix ETH0.0000%1h2,735+0.006%$830K$2.9M25xas long as short
Bullet ETH-USDshort+0.0007%1h2,734.1−0.027%$179K$1.7M20x
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,734.8−0.003%$28.1M—200xas long as short
ApeX Omni ETHUSDT+0.0043%1h2,735+0.004%$8.7M$31.3M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX ETH-USDT+0.0050%8h2,733.9−0.034%$1.06B$1.20B200xas long as short
BingX ETH-USDT+0.0055%8h2,734.7−0.005%—$1.15B—as long as short
Bybit ETHUSDT+0.0064%8h2,734.6−0.010%$2.39B$4.35B150xas long as short
KuCoin ETHUSDTM+0.0066%8h2,734.5−0.012%$380.3M$574.7M100xas long as short
Phemex ETHUSDT+0.0068%8h2,734.4−0.015%$265.9M$65.3M150xas long as short
OKX ETH-USDT-SWAPlong+0.0070%8h2,734.8long leg$1.67B$10.72B100x
SoDEX ETH-USD+0.0083%1h2,734.8−0.001%$54.5M$187.6M40xas long as short
Aster ETHUSDT+0.0087%8h2,734.9+0.002%$251.0M$842.8M200xas long as short
MEXC ETH_USDT+0.0094%8h2,735+0.007%$1.55B$2.56B500xas long as short
Binance ETHUSDT+0.0095%8h2,734.9+0.001%$6.35B$15.86B150xas long as short
Lighter ETH+0.0096%1h2,735.2+0.012%$113.0M$440.0M50xas long as short
Lighter RH ETH+0.0096%1h2,736.4+0.057%$23.4M$106.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,734.7−0.005%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,731.9−0.107%$4.9M$155K20xas long as short
Paradex ETH-USD-PERP+0.0098%8h2,738.4+0.131%$15.6M$8.0M50xas long as short
RISEx ETH/USDC+0.0099%1h2,734.8−0.002%$5.5M$11.6M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,734.5−0.012%$500K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,734.5−0.014%$13.8M$104.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,737.1+0.083%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,735+0.007%$31.9M$334.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,733.2−0.060%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,734.80.000%$1.6M$16.3M25xas long as short
Gate ETH_USDT+0.0100%8h2,735+0.005%$3.35B$8.90B200xas long as short
Bitget ETHUSDT+0.0100%8h2,734.9+0.002%$2.07B$2.74B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,734.4−0.018%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,732.8−0.076%$133.6M$325.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,733.7−0.043%$183.9M$671.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,733.7−0.042%$159.0M$86.6M50xas long as short
StandX ETH-USD+0.0100%1h2,735+0.006%$21.1M$68.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,735.3+0.016%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,736+0.042%$11.2M$9.1M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,734.9+0.004%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,736.5+0.060%$41.3M$29.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,733.4−0.052%$959K$11.3M100xas long as short
Bulk ETH-USD+0.0100%1h2,734.80.000%$164.8M$300.4M25xas long as short
Extended ETH-USD+0.0104%1h2,734.1−0.028%$30.3M$72.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,736+0.042%$51.4M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0118%1h2,735.1+0.010%$30K$20K20xas long as short
Deribit ETH-PERPETUAL+0.0130%1h2,736.2+0.050%$260.1M$195.7M50xas long as short
Kalshi KXETHPERP+0.0139%8h2,735.2+0.013%$6.7M$678.3M4.9xas long as short
Orderly PERP_ETH_USDC+0.0194%8h2,736.9+0.077%$32.2M$11.6M100xas long as short
Reya ETHRUSDPERP+0.0220%1h2,733.5−0.049%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,735.6+0.028%$83.4M$314.7M100xas long as short
Hibachi ETH/USDT-P+0.0256%1h2,735.9+0.040%$253K$1.4M20xas long as short
BloFin ETH-USDT+0.0379%8h2,735.3+0.015%$282.7M$175.2M150xas long as short