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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 07:00 UTC−0.0009%/8h= −1.0% APRnext payment −$0.01 per $10,000 · paid last 24h −0.011%
Price spread now: Bullet against Ondo Perps0.000%46s7-day average +0.023% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Ondo PerpsShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.051%−$5 on $10k
Price spread, last 7 days+0.185%+$19 · spread now 0.000%, 7d avg +0.023%
Together, before fees+0.134%+ Points / potential airdropOndo Perps: Active · farm board+$13 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bullet is 0.023% cheaper against Ondo Perps than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.023%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOndo Perps ETH-USD.P2,733.10.0100pay 0.0013% / 1h5m 39s$2.7M$16.8M25x
ShortBullet ETH-USD2,733.10.0091get 0.0011% / 1h5m 39s$188K$1.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against Ondo Perps. 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
−$1.84
Price spread: 0.000% → +0.023%
−$2.33
Slippage, 4 orders
no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$17.17
Costs to cover
0.130%
Break-even
never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Bullet: live order book, 4 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 Ondo Perps no order-book sample—————
Sell Bullet live order book, 4 min ago0.37 bp5.1 bp −$59.6 bp −$96doesn't fitdoesn't fit
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Hotstuff ETH-PERP−0.0080%1h2,734.8+0.062%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0040%1h2,734.2+0.040%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,734.6+0.054%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,733.10.000%$813K$3.0M25xas long as short
dYdX ETH-USD0.0000%1h2,734.1+0.035%$10.5M$42.8M50xas long as short
Kalshi KXETHPERP0.0000%8h2,734.6+0.055%$6.6M$682.7M4.9xas long as short
Perpl ETH0.0000%43m2,732−0.040%$288K$5.8M8.3xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,734.1+0.035%$262.5M$213.3M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,733.8+0.026%$33.0M—200xas long as short
01 Exchange ETHUSD+0.0016%1h2,733.2+0.004%$191K$890K50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDC+0.0024%8h2,732.6−0.017%—$18.6M—as long as short
ApeX Omni ETHUSDT+0.0025%1h2,731.9−0.042%$8.6M$31.5M100xas long as short
Bybit ETHUSDT+0.0027%8h2,732.1−0.038%$2.34B$4.38B150xas long as short
HTX ETH-USDT+0.0029%8h2,732.9−0.009%$1.05B$1.22B200xas long as short
KuCoin ETHUSDTM+0.0067%8h2,733.7+0.023%$380.9M$576.9M100xas long as short
SoDEX ETH-USD+0.0073%1h2,732.9−0.007%$54.4M$187.2M40xas long as short
OKX ETH-USDT-SWAP+0.0080%8h2,732.3−0.029%$1.65B$10.87B100xas long as short
Aster ETHUSDT+0.0083%8h2,732.4−0.025%$253.1M$846.7M200xas long as short
Phemex ETHUSDT+0.0091%8h2,733.10.000%$263.1M$64.6M150xas long as short
Bullet ETH-USDshort+0.0091%1h2,733.10.000%$188K$1.7M20x
MEXC ETH_USDT+0.0095%8h2,733−0.004%$1.54B$2.61B500xas long as short
Binance ETHUSDT+0.0095%8h2,732.3−0.031%$6.33B$16.11B150xas long as short
Lighter ETH+0.0096%1h2,733.9+0.028%$112.8M$439.0M50xas long as short
Lighter RH ETH+0.0096%1h2,735+0.068%$23.5M$103.5M50xas long as short
Aevo ETH-PERP+0.0096%1h2,730.5−0.095%$4.9M$171K20xas long as short
Aftermath Perps ETHUSD+0.0100%1h2,733.7+0.022%$30K$20K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,731.9−0.044%$502K$3.5M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,737.7+0.169%$15.4M$7.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,733−0.005%$14.2M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,735.6+0.091%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,734.1+0.035%$32.0M$332.9M50xas long as short
Ondo Perps ETH-USD.Plong+0.0100%1h2,733.1long leg$2.7M$16.8M25x
Arcus ETH-USD+0.0100%1h2,733.2+0.004%$1.5M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,731.8−0.047%$164.2M$349.6M25xas long as short
Gate ETH_USDT+0.0100%8h2,733−0.003%$3.31B$9.05B200xas long as short
Bitget ETHUSDT+0.0100%8h2,732.7−0.016%$2.10B$2.77B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,733.10.000%$15.1M$41.7M50xas long as short
Variational Omni ETH+0.0100%8h2,732.5−0.021%$134.3M$320.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,731.3−0.065%$185.7M$682.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,732.6−0.017%$158.8M$84.8M50xas long as short
StandX ETH-USD+0.0100%1h2,734.1+0.037%$21.0M$70.4M40xas long as short
Vest ETH-PERP+0.0100%1h2,735.3+0.082%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,735.4+0.084%$11.2M$9.5M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,733.9+0.030%$22K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,735.9+0.102%$41.0M$30.1M15xas long as short
SunX ETH-USDT+0.0100%8h2,733.4+0.012%$959K$10.9M100xas long as short
Extended ETH-USD+0.0104%1h2,731.8−0.047%$30.4M$72.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,734.7+0.058%—$30.4M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,734.3+0.045%$46.6M$4.31B50xas long as short
RISEx ETH/USDC+0.0115%1h2,733.2+0.004%$5.6M$11.6M25xas long as short
Hibachi ETH/USDT-P+0.0136%1h2,733.2+0.004%$243K$1.4M20xas long as short
Orderly PERP_ETH_USDC+0.0185%8h2,735.7+0.094%$32.2M$11.3M100xas long as short
Reya ETHRUSDPERP+0.0187%1h2,733−0.004%$7.3M$975K25xas long as short
Kraken Futures PF_ETHUSD+0.0210%1h2,733.5+0.016%$82.2M$309.8M100xas long as short
BloFin ETH-USDT+0.0380%8h2,734.4+0.047%$281.2M$175.8M150xas long as short