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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 03:00 UTC+0.0121%/8h= +13.2% APRnext payment +$0.15 per $10,000 · paid last 24h +0.005%
Price spread now: Kraken Futures against Ondo Perps+0.159%7-day average +0.029% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Ondo PerpsShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.026%+$3 on $10k
Price spread, last 3 days (all we have)−0.128%−$13 · spread now +0.159%, 7d avg +0.029%
Together, before fees−0.102%+ Points / potential airdropOndo Perps: Active · farm board−$10 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kraken Futures is 0.130% dearer against Ondo Perps than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.029%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOndo Perps ETH-USD.P2,742.90.0100pay 0.0013% / 1h52m 58s$2.7M$16.7M25x
ShortKraken Futures PF_ETHUSD2,747.30.0221get 0.0028% / 1h52m 58s$88.1M$309.0M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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
$25.4
Price spread: +0.159% → +0.029%
$12.98
Slippage, 4 orders
no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$23.37
Costs to cover
0.150%
Break-even
0.6 days
Slippage unknown: Ondo Perps: no order-book sample; Kraken Futures: live order book, 1 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 Kraken Futures live order book, 1 min ago0.18 bp5.8 bp −$67.2 bp −$728.7 bp −$87311.8 bp −$5,887
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 54 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
ApeX Omni ETHUSDT−0.0362%1h2,743+0.004%$8.7M$31.1M100xas long as short
Perpl ETH−0.0112%43m2,745.1+0.081%$306K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,743.6+0.026%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,744.1+0.044%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,746.4+0.129%$12.1M—200xas long as short
dYdX ETH-USD0.0000%1h2,744.1+0.043%$10.8M$41.8M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,746.7+0.140%$22.2M—200xas long as short
Phoenix ETH+0.0017%1h2,744+0.040%$846K$2.9M25xas long as short
BingX ETH-USDC+0.0043%8h2,746.2+0.121%—$18.4M—as long as short
01 Exchange ETHUSD+0.0048%1h2,745.1+0.080%$183K$916K50xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0056%8h2,747.1+0.152%$1.70B$10.56B100xas long as short
KuCoin ETHUSDTM+0.0065%8h2,745.9+0.110%$379.0M$595.8M100xas long as short
Aster ETHUSDT+0.0075%8h2,746.8+0.144%$252.5M$840.6M200xas long as short
RISEx ETH/USDC+0.0077%1h2,744.8+0.068%$5.7M$11.2M25xas long as short
Aevo ETH-PERP+0.0080%1h2,744.1+0.045%$4.9M$159K20xas long as short
MEXC ETH_USDT+0.0084%8h2,746.4+0.128%$1.57B$2.51B500xas long as short
Binance ETHUSDT+0.0084%8h2,747.3+0.161%$6.39B$15.70B150xas long as short
HTX ETH-USDT+0.0094%8h2,745.9+0.109%$1.06B$1.18B200xas long as short
Lighter ETH+0.0096%1h2,746.8+0.142%$112.8M$430.6M50xas long as short
Lighter RH ETH+0.0096%1h2,748.2+0.192%$24.7M$103.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,744.4+0.056%—$30.9M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,747.6+0.171%$58.6M$4.27B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,747.9+0.183%$16.1M$7.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,743.9+0.036%$485K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,743.3+0.015%$13.9M$106.1M50xas long as short
Hyperliquid ETH+0.0100%1h2,749.4+0.237%$3.12B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,744.2+0.047%$31.6M$334.3M50xas long as short
Bybit ETHUSDT+0.0100%8h2,747.3+0.160%$2.47B$4.17B150xas long as short
Ondo Perps ETH-USD.Plong+0.0100%1h2,742.9long leg$2.7M$16.7M25x
Arcus ETH-USD+0.0100%1h2,744.9+0.074%$2.7M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,743.3+0.015%$163.1M$304.4M25xas long as short
Gate ETH_USDT+0.0100%8h2,747.8+0.180%$3.40B$8.64B200xas long as short
Bitget ETHUSDT+0.0100%8h2,747.3+0.160%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,746+0.111%$15.0M$41.1M50xas long as short
Variational Omni ETH+0.0100%8h2,748+0.187%$132.7M$342.3M—as long as short
edgeX ETHUSDC+0.0100%4h2,744.3+0.049%$181.8M$689.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.2+0.012%$159.5M$81.2M50xas long as short
StandX ETH-USD+0.0100%1h2,743.8+0.033%$21.2M$69.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,745+0.078%—$819K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,744.8+0.069%$10.7M$8.4M50xas long as short
Bullet ETH-USD+0.0100%1h2,746.1+0.118%$182K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,746.2+0.121%$21K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,748.2+0.192%$41.6M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,745+0.078%$963K$11.8M100xas long as short
SoDEX ETH-USD+0.0100%1h2,746.4+0.128%$54.7M$187.5M40xas long as short
Phemex ETHUSDT+0.0100%8h2,746.3+0.123%$267.3M$65.2M150xas long as short
Extended ETH-USD+0.0104%1h2,746.4+0.128%$30.6M$72.5M50xas long as short
Aftermath Perps ETHUSD+0.0121%1h2,746+0.111%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0149%8h2,745.6+0.098%$7.7M$669.0M4.9xas long as short
Deribit ETH-PERPETUAL+0.0169%1h2,747.8+0.179%$258.9M$195.4M50xas long as short
Orderly PERP_ETH_USDC+0.0185%8h2,749+0.222%$32.3M$11.0M100xas long as short
Kraken Futures PF_ETHUSDshort+0.0221%1h2,747.3+0.159%$88.1M$309.0M100x
Reya ETHRUSDPERP+0.0224%1h2,744.4+0.056%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0240%1h2,744.2+0.048%$250K$1.4M20xas long as short