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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 09:33 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.073%
Price spread now: Bullet against Perpl−0.010%7-day average −0.006% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on PerplShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.018%+$2 on $10k
Price spread, last 7 days−0.002%$0 · spread now −0.010%, 7d avg −0.006%
Together, before fees+0.016%+ Points / potential airdropPerpl: Active · farm board+$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPerpl ETH2,741.80get 0.0000% / 43m18m 25s$269K$5.1M8.3x
ShortBullet ETH-USD2,741.50.0100get 0.0013% / 1h20m 25s$177K$1.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against Perpl. 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
$21
Price spread: −0.010% → −0.006%
−$0.32
Slippage, 4 orders
no order book: not counted
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$1.12
Costs to cover
0.218%
Break-even
7.4 days
Slippage unknown: Perpl: no order-book sample; Bullet: live order book, 2 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 Perpl no order-book sample—————
Sell Bullet live order book, 2 min ago0.55 bp6.0 bp −$69.8 bp −$98doesn't fitdoesn't fit
Perpl: 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 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi ETH/USDT-P−0.0096%1h2,742.6+0.031%$235K$1.3M20xas long as short
Hotstuff ETH-PERP−0.0080%1h2,741.4−0.015%$5K$1K50xas long as short
ApeX Omni ETHUSDT−0.0069%1h2,740.4−0.053%$8.3M$29.8M100xas long as short
Bybit ETHUSDT−0.0032%8h2,741.7−0.002%$2.36B$3.93B150xas long as short
Phoenix ETH−0.0023%1h2,739.6−0.080%$805K$2.9M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,741.5−0.011%$12.0M—200xas long as short
Kalshi KXETHPERP0.0000%8h2,743.2+0.051%$7.0M$663.9M4.9xas long as short
Perpl ETHlong0.0000%43m2,741.8long leg$269K$5.1M8.3x
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,741.4−0.016%$33.1M—200xas long as short
01 Exchange ETHUSD+0.0048%1h2,742.7+0.033%$195K$939K50xas long as short
Show all 54 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
dYdX ETH-USD+0.0053%1h2,741.7−0.003%$14.8M$42.9M50xas long as short
Gate ETH_USDT+0.0054%8h2,741.5−0.012%$3.26B$7.87B200xas long as short
OKX ETH-USDT-SWAP+0.0067%8h2,741.6−0.007%$1.66B$9.51B100xas long as short
Aster ETHUSDT+0.0073%8h2,741.3−0.017%$256.1M$741.8M200xas long as short
MEXC ETH_USDT+0.0078%8h2,741.4−0.016%$1.59B$2.51B500xas long as short
Binance ETHUSDT+0.0079%8h2,741.8+0.001%$6.38B$14.57B150xas long as short
Kraken Futures PF_ETHUSD+0.0080%1h2,741.80.000%$82.0M$282.4M100xas long as short
Aevo ETH-PERP+0.0080%1h2,739−0.101%$4.9M$208K20xas long as short
KuCoin ETHUSDTM+0.0084%8h2,741.8−0.001%$365.9M$459.9M100xas long as short
Aftermath Perps ETHUSD+0.0090%1h2,741.1−0.026%$30K$8K20xas long as short
SoDEX ETH-USD+0.0096%1h2,741.3−0.018%$61.7M$121.8M40xas long as short
Lighter ETH+0.0096%1h2,741.2−0.021%$113.9M$389.7M50xas long as short
Lighter RH ETH+0.0096%1h2,742.6+0.029%$23.8M$98.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,741.2−0.022%—$23.7M500xas long as short
Katana Perps ETH-USD+0.0100%8h2,741.7−0.004%$506K$3.5M50xas long as short
Nado ETH-PERP+0.0100%1h2,740.7−0.039%$14.5M$97.4M50xas long as short
Pacifica ETH+0.0100%1h2,741.8−0.001%$32.1M$326.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,740.6−0.044%$2.8M$14.3M25xas long as short
Arcus ETH-USD+0.0100%1h2,742.4+0.022%$1.5M$14.6M25xas long as short
Bulk ETH-USD+0.0100%1h2,740.6−0.043%$163.1M$330.7M25xas long as short
Bitget ETHUSDT+0.0100%8h2,741.6−0.008%$2.11B$2.38B150xas long as short
BingX ETH-USDT+0.0100%8h2,741.3−0.018%—$960.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,741.2−0.024%$14.9M$37.2M50xas long as short
Variational Omni ETH+0.0100%8h2,740.5−0.048%$132.1M$302.2M—as long as short
edgeX ETHUSDC+0.0100%4h2,738.5−0.119%$185.9M$632.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,740.4−0.052%$159.3M$73.0M50xas long as short
StandX ETH-USD+0.0100%1h2,743.9+0.077%$21.1M$72.6M40xas long as short
Vest ETH-PERP+0.0100%1h2,743.5+0.063%—$346K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,743.2+0.051%$11.2M$8.7M50xas long as short
Bullet ETH-USDshort+0.0100%1h2,741.5−0.010%$177K$1.7M20x
SunX ETH-USDT+0.0100%8h2,741.2−0.021%$945K$9.2M100xas long as short
HTX ETH-USDT+0.0100%8h2,742.3+0.018%$1.05B$1.09B200xas long as short
Phemex ETHUSDT+0.0100%8h2,741.3−0.019%$263.8M$57.7M150xas long as short
Extended ETH-USD+0.0104%1h2,740.4−0.051%$30.4M$67.0M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,742.4+0.023%$45.5M$3.94B50xas long as short
Hyperliquid ETH+0.0121%1h2,745+0.117%$3.15B$1.77B25xas long as short
Deribit ETH-PERPETUAL+0.0126%1h2,742.6+0.027%$267.3M$193.9M50xas long as short
BloFin ETH-USDT+0.0149%8h2,741.4−0.013%$282.7M$157.4M150xas long as short
Reya ETHRUSDPERP+0.0161%1h2,740.5−0.047%$7.3M$870K25xas long as short
RISEx ETH/USDC+0.0167%1h2,742.7+0.032%$5.6M$10.7M25xas long as short
Orderly PERP_ETH_USDC+0.0175%8h2,743.8+0.072%$32.3M$10.1M100xas long as short
Paradex ETH-USD-PERP+0.0294%8h2,745.2+0.126%$15.8M$6.5M50xas long as short
Injective ETH/USDC PERP+0.0308%1h2,747.3+0.201%$118K$23.9M52xas long as short
Bluefin ETH-PERP+0.1088%1h2,741.5−0.010%$20K$15K25xas long as short