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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 08:50 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.064%
Price spread now: SoDEX against Perpl+0.018%7-day average −0.024% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on PerplShort on SoDEX
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.036%+$4 on $10k
Price spread, last 4 days (all we have)−0.202%−$20 · spread now +0.018%, 7d avg −0.024%
Together, before fees−0.166%+ Points / potential airdropPerpl: Active · farm board−$17 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and SoDEX is 0.042% dearer against Perpl than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.024%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPerpl ETH2,733.60get 0.0000% / 43m9m 57s$270K$5.3M8.3x
ShortSoDEX ETH-USD2,734.10.0094get 0.0012% / 1h54m 57s$54.4M$160.1M40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SoDEX 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
$19.72
Price spread: +0.018% → −0.024%
$4.23
Slippage, 4 orders
no order book: not counted
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Fee SoDEX: 4 bp × 2 orders
−$8
Net
$2.15
Costs to cover
0.218%
Break-even
6.2 days
Slippage unknown: Perpl: no order-book sample; SoDEX: 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 Perpl no order-book sample—————
Sell SoDEX live order book, 4 min ago0.18 bp4.2 bp −$44.4 bp −$446.1 bp −$60933.3 bp −$16.6K
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 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%1h2,738.2+0.168%$5K$1K50xas long as short
ApeX Omni ETHUSDT−0.0050%1h2,743.9+0.377%$8.3M$30.3M100xas long as short
Bybit ETHUSDT−0.0038%8h2,732.2−0.053%$2.34B$4.14B150xas long as short
Hibachi ETH/USDT-P−0.0032%1h2,743.9+0.375%$236K$1.3M20xas long as short
Phoenix ETH−0.0012%1h2,747.5+0.508%$813K$2.9M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,733.5−0.003%$12.0M—200xas long as short
dYdX ETH-USD0.0000%1h2,737.5+0.141%$11.5M$41.9M50xas long as short
Kalshi KXETHPERP0.0000%8h2,736.9+0.121%$6.5M$664.7M4.9xas long as short
Perpl ETHlong0.0000%43m2,733.6long leg$270K$5.3M8.3x
Deribit ETH-PERPETUAL0.0000%1h2,735+0.049%$266.4M$208.0M50xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,749.8+0.592%$33.2M—200xas long as short
Gate ETH_USDT+0.0030%8h2,732.7−0.032%$3.26B$7.69B200xas long as short
01 Exchange ETHUSD+0.0048%1h2,734.6+0.037%$195K$961K50xas long as short
HTX ETH-USDT+0.0057%8h2,733.2−0.015%$1.05B$1.17B200xas long as short
OKX ETH-USDT-SWAP+0.0067%8h2,732.1−0.057%$1.65B$10.17B100xas long as short
Aster ETHUSDT+0.0069%8h2,732.7−0.035%$251.8M$798.5M200xas long as short
Binance ETHUSDT+0.0079%8h2,732.4−0.043%$6.38B$15.50B150xas long as short
MEXC ETH_USDT+0.0079%8h2,731.7−0.070%$1.56B$2.47B500xas long as short
Aevo ETH-PERP+0.0080%1h2,737.2+0.133%$4.9M$202K20xas long as short
Kraken Futures PF_ETHUSD+0.0080%1h2,734.4+0.030%$81.9M$291.5M100xas long as short
KuCoin ETHUSDTM+0.0088%8h2,733.7+0.003%$363.8M$480.6M100xas long as short
SoDEX ETH-USDshort+0.0094%1h2,734.1+0.018%$54.4M$160.1M40x
SunX ETH-USDT+0.0095%8h2,733.5−0.005%$942K$9.9M100xas long as short
Lighter ETH+0.0096%1h2,734.6+0.036%$112.8M$380.6M50xas long as short
Lighter RH ETH+0.0096%1h2,735.3+0.063%$24.6M$92.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,742.9+0.339%—$24.6M500xas long as short
Aftermath Perps ETHUSD+0.0098%1h2,746+0.453%$30K$12K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,734.7+0.040%$505K$3.6M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,739+0.196%$15.7M$6.6M50xas long as short
Nado ETH-PERP+0.0100%1h2,734.9+0.048%$14.5M$100.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,734.8+0.044%$3.11B$1.95B25xas long as short
Pacifica ETH+0.0100%1h2,737.4+0.139%$32.0M$326.2M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,734.9+0.048%$2.8M$15.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,736.5+0.105%$1.5M$15.2M25xas long as short
Bitget ETHUSDT+0.0100%8h2,731.8−0.066%$2.10B$2.56B150xas long as short
BingX ETH-USDC+0.0100%8h2,731.8−0.066%—$18.5M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,732.2−0.050%$14.8M$37.6M50xas long as short
Variational Omni ETH+0.0100%8h2,741.8+0.299%$131.3M$306.5M—as long as short
edgeX ETHUSDC+0.0100%4h2,742.8+0.337%$185.9M$691.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,746+0.452%$159.7M$73.1M50xas long as short
StandX ETH-USD+0.0100%1h2,744.9+0.413%$21.1M$72.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,738.3+0.171%—$412K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,735.4+0.066%$11.2M$8.9M50xas long as short
Bullet ETH-USD+0.0100%1h2,733.60.000%$177K$1.7M20xas long as short
Phemex ETHUSDT+0.0100%8h2,734.5+0.033%$263.1M$59.4M150xas long as short
Bulk ETH-USD+0.0100%1h2,743.1+0.347%$167.4M$334.6M25xas long as short
Extended ETH-USD+0.0104%1h2,730.8−0.104%$29.9M$69.0M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,735+0.051%$45.2M$4.07B50xas long as short
Reya ETHRUSDPERP+0.0166%1h2,734.2+0.021%$7.3M$885K25xas long as short
RISEx ETH/USDC+0.0167%1h2,734.1+0.018%$5.6M$11.2M25xas long as short
Orderly PERP_ETH_USDC+0.0181%8h2,736.6+0.111%$32.3M$10.5M100xas long as short
BloFin ETH-USDT+0.0271%8h2,733.4−0.007%$281.1M$164.3M150xas long as short
Injective ETH/USDC PERP+0.0308%1h2,743.4+0.359%$118K$19.9M52xas long as short
Bluefin ETH-PERP+0.1267%1h2,734.7+0.038%$20K$15K25xas long as short