Settings8H · net · $10k
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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 16:00 UTC+0.0023%/8h= +2.5% APRnext payment +$0.23 per $10,000 · paid last 24h +0.007%
Price spread now: Bybit against Phemex+0.004%7-day average +0.003% · you sell dearer than you buy
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$240.239% of the position
Long on PhemexShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.003%$0 on $10k
Price spread, last 4 days (all we have)+0.012%+$1 · spread now +0.004%, 7d avg +0.003%
Together, before fees+0.015%+$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ETHUSDT2,728.40.0023pay 0.0023% / 8h7h 53m$262.8M$63.9M150x
ShortBybit ETHUSDT2,728.50.0046get 0.0046% / 8h7h 53m$2.32B$4.32B150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Phemex. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$4.75
Price spread: +0.004% → +0.003%
$0.07
Slippage, 4 orders
−$0.88
Fee Phemex: 6 bp × 2 orders
−$12
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$19.06
Costs to cover
0.239%
Break-even
35.1 days
Slippage from Phemex: live order book, 6 min ago; Bybit: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 6 min ago0.42 bp6.4 bp −$66.5 bp −$659.5 bp −$947doesn't fit
Sell Bybit live order book, 6 min ago0.02 bp5.5 bp −$65.5 bp −$556.7 bp −$66710.0 bp −$4,990

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 ETH−0.0112%43m2,728.6+0.010%$275K$5.7M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,727.6−0.028%$5K$1K50xas long as short
Phoenix ETH−0.0012%1h2,728.7+0.012%$805K$3.0M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,728.7+0.012%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,728.6+0.009%$10.5M$41.8M50xas long as short
Kalshi KXETHPERP0.0000%8h2,728.5+0.005%$6.7M$672.7M4.9xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,729.1+0.027%$264.7M$219.7M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,727.8−0.022%$32.9M—200xas long as short
Phemex ETHUSDTlong+0.0023%8h2,728.4long leg$262.8M$63.9M150x
HTX ETH-USDT+0.0033%8h2,728−0.012%$1.05B$1.22B200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDTshort+0.0046%8h2,728.5+0.004%$2.32B$4.32B150x
Gate ETH_USDT+0.0065%8h2,728.5+0.004%$3.29B$8.20B200xas long as short
OKX ETH-USDT-SWAP+0.0079%8h2,728.6+0.008%$1.66B$10.73B100xas long as short
01 Exchange ETHUSD+0.0080%1h2,728.7+0.012%$191K$884K50xas long as short
SunX ETH-USDT+0.0081%8h2,727.7−0.024%$951K$10.7M100xas long as short
BloFin ETH-USDT+0.0081%8h2,728.6+0.010%$281.2M$177.7M150xas long as short
KuCoin ETHUSDTM+0.0084%8h2,728.6+0.010%$383.8M$576.6M100xas long as short
Aster ETHUSDT+0.0086%8h2,728.6+0.007%$252.1M$849.2M200xas long as short
Hibachi ETH/USDT-P+0.0088%1h2,727.2−0.044%$242K$1.4M20xas long as short
MEXC ETH_USDT+0.0095%8h2,728.5+0.007%$1.56B$2.54B500xas long as short
Binance ETHUSDT+0.0095%8h2,728.7+0.011%$6.31B$16.08B150xas long as short
Lighter ETH+0.0096%1h2,729.1+0.027%$112.4M$400.6M50xas long as short
Lighter RH ETH+0.0096%1h2,730.2+0.066%$23.6M$95.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,727.9−0.017%—$30.5M500xas long as short
Aevo ETH-PERP+0.0096%1h2,726.4−0.071%$4.9M$193K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,727.8−0.021%$500K$3.6M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,731.1+0.100%$15.4M$7.4M50xas long as short
Nado ETH-PERP+0.0100%1h2,727.5−0.032%$14.1M$102.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,730.9+0.093%$3.10B$2.03B25xas long as short
Pacifica ETH+0.0100%1h2,728.5+0.003%$32.1M$332.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,728−0.013%$2.7M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,728.2−0.005%$1.6M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,727.1−0.046%$161.7M$337.0M25xas long as short
Bitget ETHUSDT+0.0100%8h2,728.7+0.013%$2.11B$2.76B150xas long as short
BingX ETH-USDC+0.0100%8h2,727.8−0.019%—$18.6M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,727.6−0.027%$15.2M$40.7M50xas long as short
Variational Omni ETH+0.0100%8h2,727.3−0.038%$131.3M$315.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,725.6−0.101%$185.4M$684.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,726.6−0.066%$158.5M$80.6M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,724.6−0.136%$8.4M$31.3M100xas long as short
StandX ETH-USD+0.0100%1h2,728.8+0.016%$21.0M$70.4M40xas long as short
Vest ETH-PERP+0.0100%1h2,730.1+0.064%—$441K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,730+0.060%$11.2M$9.4M50xas long as short
Bullet ETH-USD+0.0100%1h2,728.5+0.005%$178K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,728.7+0.012%$20K$23K25xas long as short
Derive ETH-PERP+0.0100%1h2,731.7+0.121%$40.6M$29.2M15xas long as short
SoDEX ETH-USD+0.0100%1h2,728.5+0.005%$54.4M$182.6M40xas long as short
Aftermath Perps ETHUSD+0.0103%1h2,727.5−0.033%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,727.9−0.017%$30.4M$71.1M50xas long as short
Kraken Futures PF_ETHUSD+0.0105%1h2,729.3+0.033%$81.9M$310.4M100xas long as short
Coinbase International ETH-PERP-INTX+0.0120%1h2,729.8+0.051%$46.5M$4.25B50xas long as short
RISEx ETH/USDC+0.0137%1h2,728.7+0.013%$5.6M$11.6M25xas long as short
Reya ETHRUSDPERP+0.0175%1h2,727.8−0.021%$7.3M$972K25xas long as short
Orderly PERP_ETH_USDC+0.0187%8h2,730.8+0.089%$32.2M$11.3M100xas long as short
Injective ETH/USDC PERP+0.0253%1h2,728−0.013%$117K$19.3M52xas long as short