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Funding arb · Price arb /

ETH

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Alert: spread
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Funding you earn now, next payment 22:03 UTC+0.0616%/8h= +67.4% APRpaid last 24h +0.028%
Price spread now: Kraken Futures against Perpl+0.063%7-day average −0.006% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on PerplShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days−0.018%−$2 on $10k
Price spread, last 3 days (all we have)−0.112%−$11 · spread now +0.063%, 7d avg −0.006%
Together, before fees−0.129%+ Points / potential airdropPerpl: Active · farm board−$13 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Kraken Futures is 0.069% dearer against Perpl than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.006%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.018% in total (about -0.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPerpl ETH2,776.6−0.0447get 0.0040% / 43m31m 01s$288K$6.9M8.3x
ShortKraken Futures PF_ETHUSD2,778.40.0169get 0.0021% / 1h18m 01s$86.1M$332.4M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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
$129.35
Price spread: +0.063% → −0.006%
$6.88
Slippage, 4 orders
no order book: not counted
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$112.43
Costs to cover
0.238%
Break-even
0.9 days
Slippage unknown: Perpl: no order-book sample; Kraken Futures: live order book, 6 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 Kraken Futures live order book, 6 min ago0.18 bp5.7 bp −$66.9 bp −$698.6 bp −$86511.9 bp −$5,931
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 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 ETHlong−0.0447%43m2,776.6long leg$288K$6.9M8.3x
RISEx ETH/USDC−0.0085%1h2,776.3−0.011%$5.7M$12.1M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,778.6+0.071%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,779.6+0.107%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,777.3+0.024%$169K$1.2M50xas long as short
Aftermath Perps ETHUSD−0.0014%1h2,777.8+0.044%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,777.4+0.028%$12.7M$45.6M50xas long as short
Phoenix ETH0.0000%1h2,779.6+0.107%$886K$3.7M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,777.9+0.047%$22.4M—200xas long as short
BingX ETH-USDT+0.0017%8h2,776−0.023%—$1.18B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex ETHUSDT+0.0019%8h2,777.3+0.024%$270.1M$68.6M150xas long as short
OKX ETH-USDT-SWAP+0.0019%8h2,775.9−0.027%$1.70B$11.87B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,777.8+0.044%$13.0M—200xas long as short
Aster ETHUSDT+0.0039%8h2,777.5+0.033%$256.7M$991.8M200xas long as short
Bullet ETH-USD+0.0039%1h2,777+0.015%$181K$1.7M20xas long as short
Nado ETH-PERP+0.0059%1h2,776.8+0.007%$14.2M$118.2M50xas long as short
Deribit ETH-PERPETUAL+0.0060%1h2,778.8+0.080%$258.4M$222.3M50xas long as short
Aevo ETH-PERP+0.0064%1h2,775.5−0.039%$5.0M$636K20xas long as short
MEXC ETH_USDT+0.0065%8h2,777.3+0.026%$1.62B$2.67B500xas long as short
Binance ETHUSDT+0.0065%8h2,776.1−0.019%$6.44B$17.21B150xas long as short
Bitget ETHUSDT+0.0069%8h2,776−0.021%$2.10B$3.10B150xas long as short
ApeX Omni ETHUSDT+0.0073%1h2,780.3+0.131%$8.8M$32.6M100xas long as short
Gate ETH_USDT+0.0073%8h2,775.9−0.027%$3.29B$9.65B200xas long as short
SoDEX ETH-USD+0.0078%1h2,777.3+0.024%$55.3M$228.9M40xas long as short
Bybit ETHUSDT+0.0093%8h2,776.3−0.013%$2.52B$4.62B150xas long as short
HTX ETH-USDT+0.0095%8h2,776.60.000%$1.08B$1.32B200xas long as short
Lighter ETH+0.0096%1h2,777.8+0.042%$115.3M$502.0M50xas long as short
Lighter RH ETH+0.0096%1h2,778.8+0.077%$25.4M$121.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,779.1+0.089%—$41.6M500xas long as short
KuCoin ETHUSDTM+0.0098%8h2,777.2+0.020%$422.9M$739.6M100xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,778.2+0.057%$16.0M$10.5M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,776.9+0.010%$478K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,779.1+0.089%$3.19B$2.36B25xas long as short
Pacifica ETH+0.0100%1h2,778.6+0.071%$31.3M$302.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,777.1+0.017%$2.8M$17.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,778+0.050%$2.7M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,778.9+0.083%$165.9M$253.8M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,776.6−0.001%$15.2M$44.3M50xas long as short
Variational Omni ETH+0.0100%8h2,778.6+0.072%$136.7M$326.3M—as long as short
edgeX ETHUSDC+0.0100%4h2,779.6+0.109%$181.9M$783.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,780.8+0.152%$161.7M$91.5M50xas long as short
StandX ETH-USD+0.0100%1h2,779+0.086%$21.5M$58.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,777.6+0.037%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,778.2+0.057%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,777.4+0.027%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,779.3+0.098%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,776−0.023%$974K$14.0M100xas long as short
Extended ETH-USD+0.0104%1h2,776.6−0.001%$32.6M$77.7M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,778.6+0.072%$60.0M$4.61B50xas long as short
Kalshi KXETHPERP+0.0126%8h2,778.1+0.053%$8.4M$679.0M4.9xas long as short
Orderly PERP_ETH_USDC+0.0137%8h2,779.8+0.114%$32.6M$12.0M100xas long as short
Kraken Futures PF_ETHUSDshort+0.0169%1h2,778.4+0.063%$86.1M$332.4M100x
BloFin ETH-USDT+0.0185%8h2,776.9+0.010%$283.9M$194.7M150xas long as short
Reya ETHRUSDPERP+0.0193%1h2,776.7+0.003%$7.4M$1.2M25xas long as short
Hibachi ETH/USDT-P+0.0224%1h2,779.1+0.089%$271K$1.5M20xas long as short