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Price arb /

ETH

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Spread before costs (cost unknown: a leg has no order-book sample)−0.082%
7d average−0.075%if it closes, per $10,000$8funding while held, a day+$2.39
Long on OrderlyShort on Kraken Futures
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOrderly PERP_ETH_USDC2,760.90.0182pay 0.0182% / 8h7h 14m$32.4M$10.8M100x
ShortKraken Futures PF_ETHUSD2,758.70.0262get 0.0033% / 1h14m 16s$85.0M$317.8M100x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$8.2
Funding while held
$2.39
Slippage, 4 orders
no order book: not counted
Fee Orderly: 3 bp × 2 orders
−$6
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
−$21.81
Spread needed to break even
0.160%
Slippage unknown: Orderly: no order-book sample; Kraken Futures: live order book, 1 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0080%
Per $10,000 a day
+$2.39
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Orderly no order-book sample—————
Sell Kraken Futures live order book, 1 min ago0.36 bp5.6 bp −$66.0 bp −$608.2 bp −$81611.4 bp −$5,700
Orderly: 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 price on every exchange

against the cheapest. Click to use as the short leg.
edgeX2,750cheapestPhoenix2,753.1+0.113%ApeX Omni2,754.7+0.170%Aevo2,756.2+0.225%HTX2,756.6+0.241%SunX2,757.2+0.261%SoDEX2,757.3+0.265%Injective2,757.4+0.269%BloFin2,757.5+0.273%OKX2,757.7+0.279%Lighter2,757.8+0.282%Bitget2,758+0.290%Phemex2,758+0.290%StandX2,758+0.291%Variational Omni2,758+0.292%Perpl2,758.1+0.294%Binance2,758.2+0.298%Extended2,758.3+0.300%Aster2,758.3+0.300%Lighter RH2,758.3+0.301%Katana Perps2,758.4+0.305%Arcus2,758.5+0.307%Bullet2,758.5+0.309%MEXC2,758.5+0.309%RISEx2,758.5+0.310%Bybit2,758.6+0.313%Gate2,758.7+0.314%
Kraken Futures2,758.7+0.315%
Hotstuff2,758.8+0.320%Vest2,758.9+0.322%BingX2,758.9+0.322%Nado2,758.9+0.322%01 Exchange2,759+0.327%KuCoin2,759+0.328%Backpack2,759+0.329%dYdX2,759+0.329%Aftermath Perps2,759+0.329%Pacifica2,759.1+0.331%Reya2,759.1+0.332%Jupiter Perps2,759.2+0.333%Bluefin2,759.2+0.336%Ondo Perps2,759.4+0.342%GMX2,759.5+0.344%Bulk2,759.6+0.348%Deribit2,759.6+0.349%Polymarket Perps2,759.6+0.349%gTrade (Gains Network)2,759.6+0.349%Kalshi2,759.9+0.360%Hibachi2,760.1+0.366%Coinbase International2,760.3+0.373%Derive2,760.7+0.391%
Orderly2,760.9+0.397%
Hyperliquid2,761.3+0.411%Paradex2,762.2+0.444%

ETH on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
edgeX ETHUSDC−0.396%+0.0100%4h$178.4M$765.9M100xas long as short
Phoenix ETH−0.284%+0.0035%1h$1.4M$2.4M25xas long as short
ApeX Omni ETHUSDT−0.227%+0.0082%1h$8.1M$27.9M100xas long as short
Aevo ETH-PERP−0.172%+0.0072%1h$5.0M$718K20xas long as short
HTX ETH-USDT−0.156%−0.0006%8h$1.09B$1.19B200xas long as short
SunX ETH-USDT−0.136%+0.0041%8h$950K$14.5M100xas long as short
SoDEX ETH-USD−0.131%+0.0030%1h$55.6M$161.9M40xas long as short
Injective ETH/USDC PERP−0.128%−0.0054%1h$118K$22.5M52xas long as short
BloFin ETH-USDT−0.124%+0.0190%8h$295.5M$173.9M150xas long as short
OKX ETH-USDT-SWAP−0.117%+0.0013%8h$1.72B$11.12B100xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Lighter ETH−0.114%+0.0096%1h$116.5M$503.8M50xas long as short
Bitget ETHUSDT−0.106%+0.0079%8h$2.11B$3.10B150xas long as short
Phemex ETHUSDT−0.106%+0.0098%8h$265.8M$66.5M150xas long as short
StandX ETH-USD−0.106%+0.0100%1h$21.2M$51.3M40xas long as short
Variational Omni ETH−0.104%+0.0100%8h$144.9M$312.5M—as long as short
Perpl ETH−0.103%−0.0447%43m$431K$6.2M8.3xas long as short
Binance ETHUSDT−0.099%+0.0070%8h$6.56B$15.83B150xas long as short
Extended ETH-USD−0.097%+0.0104%1h$31.9M$75.7M50xas long as short
Aster ETHUSDT−0.097%+0.0100%8h$275.6M$878.5M200xas long as short
Lighter RH ETH−0.096%+0.0096%1h$25.3M$119.2M50xas long as short
Katana Perps ETH-USD−0.092%+0.0100%8h$464K$2.1M50xas long as short
Arcus ETH-USD−0.089%+0.0100%1h$2.6M$16.0M25xas long as short
Bullet ETH-USD−0.088%+0.0100%1h$200K$1.8M20xas long as short
MEXC ETH_USDT−0.088%+0.0069%8h$1.52B$2.51B500xas long as short
RISEx ETH/USDC−0.087%+0.0122%1h$5.8M$12.8M25xas long as short
Bybit ETHUSDT−0.084%+0.0100%8h$2.53B$4.38B150xas long as short
Gate ETH_USDT−0.083%+0.0100%8h$3.45B$8.99B200xas long as short
Kraken Futures PF_ETHUSDshort−0.082%+0.0262%1h$85.0M$317.8M100x
Hotstuff ETH-PERP−0.077%−0.0080%1h$5K$2K50xas long as short
Vest ETH-PERP−0.075%+0.0100%1h—$1.1M50xas long as short
BingX ETH-USDC−0.075%+0.0100%8h—$16.9M—as long as short
Nado ETH-PERP−0.075%+0.0100%1h$18.0M$110.8M50xas long as short
01 Exchange ETHUSD−0.070%+0.0040%1h$180K$1.2M50xas long as short
KuCoin ETHUSDTM−0.069%+0.0100%8h$426.7M$678.4M100xas long as short
Backpack ETH_USDC_PERP−0.068%+0.0100%1h$15.3M$39.3M50xas long as short
dYdX ETH-USD−0.068%+0.0001%1h$16.1M$34.3M50xas long as short
Aftermath Perps ETHUSD−0.068%+0.0310%1h$29K$20K20xas long as short
Pacifica ETH−0.066%+0.0100%1h$31.3M$223.9M50xas long as short
Reya ETHRUSDPERP−0.065%+0.0177%1h$7.4M$957K25xas long as short
Jupiter Perps ETH-PERP−0.064%L +0.0096% / S +0.0048%1h—$43.9M500xas long as short
Bluefin ETH-PERP−0.061%+0.1886%1h$21K$26K25xas long as short
Ondo Perps ETH-USD.P−0.055%+0.0100%1h$2.9M$14.7M25xas long as short
GMX ETH/USD [ETH-USDC]−0.053%L −0.0013% / S +0.0045%1h$11.8M—200xas long as short
Bulk ETH-USD−0.049%+0.0056%1h$160.5M$277.4M25xas long as short
Deribit ETH-PERPETUAL−0.049%+0.0011%1h$259.4M$208.8M50xas long as short
Polymarket Perps ETH-USD−0.048%+0.0100%1h$10.7M$5.4M50xas long as short
gTrade (Gains Network) ETH/USD−0.048%L +0.0006% / S −0.0006%1h$22.3M—200xas long as short
Kalshi KXETHPERP−0.037%+0.0139%8h$10.3M$567.9M4.9xas long as short
Hibachi ETH/USDT-P−0.032%+0.0128%1h$283K$1.4M20xas long as short
Coinbase International ETH-PERP-INTX−0.025%+0.0120%1h$59.7M$4.68B50xas long as short
Derive ETH-PERP−0.007%+0.0100%1h$42.8M$29.5M15xas long as short
Orderly PERP_ETH_USDClong0.000%+0.0182%8h$32.4M$10.8M100x
Hyperliquid ETH+0.013%+0.0429%1h$3.30B$2.12B25xas long as short
Paradex ETH-USD-PERP+0.047%+0.0100%8h$15.0M$11.6M50xas long as short