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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+0.0080%/8h= +8.7% APRnext payment +$0.80 per $10,000 · paid last 24h +0.017%
Price spread now: Variational Omni against OKX+0.254%7-day average +0.009% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on OKXShort on Variational Omni
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.036%+$4 on $10k
Price spread, last 7 days−0.269%−$27 · spread now +0.254%, 7d avg +0.009%
Together, before fees−0.233%+ Points / potential airdropVariational Omni: Active · farm board−$23 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Variational Omni is 0.245% dearer against OKX than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of +0.009%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX ETH-USDT-SWAP2,767.60.0020pay 0.0020% / 8h1h 31m$1.70B$11.80B100x
ShortVariational Omni ETH2,774.60.0100get 0.0100% / 8h1h 31m$135.3M$322.5M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$16.78
Price spread: +0.254% → +0.009%
$24.48
Slippage, 4 orders
no order book: not counted
Fee OKX: 5 bp × 2 orders
−$10
Fee Variational Omni: 0 bp × 2 orders
$0
Net
$31.26
Costs to cover
0.100%
Break-even
from the start
Slippage unknown: OKX: live order book, 3 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

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, 3 min ago0.02 bp5.0 bp −$55.0 bp −$505.4 bp −$5427.7 bp −$3,827
Sell Variational Omni RFQ quote, 3 min ago0.47 bpdoesn't fit1.7 bp −$175.6 bp −$559doesn'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%43m2,770.9+0.119%$289K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,769.7+0.078%$5.8M$12.1M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,770.7+0.113%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,770.3+0.099%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,770.3+0.099%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0022%1h2,775.8+0.299%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,770.5+0.107%$12.7M$45.5M50xas long as short
Phoenix ETH0.0000%1h2,778.1+0.381%$886K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,770.5+0.106%$22.4M—200xas long as short
BingX ETH-USDT+0.0016%8h2,769.6+0.074%—$1.18B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAPlong+0.0020%8h2,767.6long leg$1.70B$11.80B100x
Phemex ETHUSDT+0.0026%8h2,768.1+0.019%$269.2M$68.7M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,770.4+0.103%$12.9M—200xas long as short
Aster ETHUSDT+0.0034%8h2,769.4+0.067%$255.7M$990.6M200xas long as short
Deribit ETH-PERPETUAL+0.0035%1h2,770.2+0.094%$258.3M$222.2M50xas long as short
Bullet ETH-USD+0.0037%1h2,769.8+0.079%$180K$1.7M20xas long as short
MEXC ETH_USDT+0.0060%8h2,769.8+0.079%$1.62B$2.66B500xas long as short
Binance ETHUSDT+0.0060%8h2,767.7+0.007%$6.42B$17.15B150xas long as short
Aevo ETH-PERP+0.0064%1h2,767.9+0.011%$5.0M$636K20xas long as short
Nado ETH-PERP+0.0064%1h2,769.2+0.059%$14.3M$118.0M50xas long as short
SoDEX ETH-USD+0.0071%1h2,768.5+0.034%$55.1M$228.8M40xas long as short
Gate ETH_USDT+0.0072%8h2,769.7+0.077%$3.28B$9.60B200xas long as short
Bitget ETHUSDT+0.0072%8h2,768.3+0.026%$2.10B$3.10B150xas long as short
Bybit ETHUSDT+0.0092%8h2,767.4−0.007%$2.51B$4.61B150xas long as short
HTX ETH-USDT+0.0094%8h2,767.5−0.002%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,768.4+0.030%$114.8M$499.6M50xas long as short
Lighter RH ETH+0.0096%1h2,769.4+0.066%$25.3M$121.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,771+0.125%—$41.5M500xas long as short
ApeX Omni ETHUSDT+0.0097%1h2,777.8+0.368%$8.7M$32.5M100xas long as short
KuCoin ETHUSDTM+0.0098%8h2,769.8+0.079%$424.5M$738.1M100xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,769.6+0.073%$15.9M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,769.9+0.085%$479K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,772.2+0.168%$3.18B$2.37B25xas long as short
Pacifica ETH+0.0100%1h2,770.2+0.097%$31.3M$297.6M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,768.9+0.048%$2.8M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,771.6+0.146%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,781.3+0.497%$166.9M$248.1M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,771+0.125%$15.2M$44.5M50xas long as short
Variational Omni ETHshort+0.0100%8h2,774.6+0.254%$135.3M$322.5M—
edgeX ETHUSDC+0.0100%4h2,777.1+0.343%$180.0M$780.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,777+0.341%$161.5M$91.0M50xas long as short
StandX ETH-USD+0.0100%1h2,772.6+0.182%$21.4M$58.0M40xas long as short
Vest ETH-PERP+0.0100%1h2,770.9+0.122%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,771.2+0.132%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,769.6+0.074%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,770.9+0.120%$42.6M$29.3M15xas long as short
SunX ETH-USDT+0.0100%8h2,767.9+0.012%$971K$14.0M100xas long as short
Extended ETH-USD+0.0104%1h2,767.9+0.012%$31.4M$74.5M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,770+0.086%$60.0M$4.59B50xas long as short
Kalshi KXETHPERP+0.0118%8h2,771.7+0.150%$8.7M$675.3M4.9xas long as short
Orderly PERP_ETH_USDC+0.0137%8h2,771.2+0.130%$32.5M$12.0M100xas long as short
Hibachi ETH/USDT-P+0.0168%1h2,773.6+0.217%$278K$1.5M20xas long as short
Kraken Futures PF_ETHUSD+0.0170%1h2,769.3+0.064%$86.0M$331.4M100xas long as short
BloFin ETH-USDT+0.0180%8h2,768.3+0.026%$283.9M$193.9M150xas long as short
Reya ETHRUSDPERP+0.0190%1h2,769.7+0.077%$7.3M$1.2M25xas long as short