ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0010%/8h= −1.0% APRnext payment −$0.10 per $10,000 · paid last 24h +0.009%

Price spread now: MEXC against Phemex−0.095%49s7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$140.143% of the position

Long on Phemex Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 4 days (all we have)+0.206%+$21 · spread now −0.095%, 7d avg −0.001%

Together, before fees+0.216%+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and MEXC is 0.094% cheaper against Phemex than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.001%). Swap the legs. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ETHUSDT	2,724.9	0.0085	pay 0.0085% / 8h	7h 26m	$262.5M	$63.1M	150x
Short	MEXC ETH_USDT	2,722.3	0.0075	get 0.0075% / 8h	7h 26m	$1.59B	$2.57B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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

Position, each leg$Hold fordaysFee PhemexbpFee MEXCbpOrdersPrice spread, now −0.095%Rate

Funding earned: −$2.01
Price spread: −0.095% → −0.001%: −$9.41
Slippage, 4 orders: −$0.26
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 1 bp × 2 orders: −$2
Net: −$25.67
Costs to cover: 0.143%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; MEXC: live order book, 8 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phemex live order book, 3 min ago	0.02 bp	6.0 bp −$6	6.2 bp −$62	8.8 bp −$876	14.7 bp −$7,357
Sell MEXC live order book, 8 min ago	0.02 bp	1.0 bp −$1	1.2 bp −$12	1.6 bp −$163	4.1 bp −$2,028

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin ETH-USDT	−0.0152%	8h	2,724.5	−0.014%	$281.3M	$176.4M	150x	as long as short
HTX ETH-USDT	−0.0140%	8h	2,724.3	−0.019%	$1.05B	$1.20B	200x	as long as short
Perpl ETH	−0.0112%	43m	2,723.3	−0.057%	$275K	$5.7M	8.3x	as long as short
SunX ETH-USDT	−0.0109%	8h	2,724	−0.030%	$939K	$10.6M	100x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,724	−0.031%	$5K	$1K	50x	as long as short
Bybit ETHUSDT	−0.0067%	8h	2,723	−0.068%	$2.31B	$4.26B	150x	as long as short
ApeX Omni ETHUSDT	−0.0013%	1h	2,724.3	−0.019%	$8.3M	$31.3M	100x	as long as short
Phoenix ETH	−0.0012%	1h	2,724.4	−0.017%	$806K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,724.8	−0.001%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,723.7	−0.044%	$10.5M	$41.8M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXETHPERP	0.0000%	8h	2,724.6	−0.009%	$6.6M	$669.1M	4.9x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,721.7	−0.117%	$32.8M	—	200x	as long as short
Deribit ETH-PERPETUAL	+0.0018%	1h	2,725.5	+0.025%	$265.9M	$222.0M	50x	as long as short
Hibachi ETH/USDT-P	+0.0024%	1h	2,725.3	+0.017%	$236K	$1.4M	20x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,723.7	−0.042%	$195K	$885K	50x	as long as short
Gate ETH_USDT	+0.0040%	8h	2,722.8	−0.076%	$3.27B	$8.29B	200x	as long as short
SoDEX ETH-USD	+0.0042%	1h	2,724.5	−0.013%	$54.3M	$182.4M	40x	as long as short
Aster ETHUSDT	+0.0064%	8h	2,722.2	−0.098%	$251.9M	$839.4M	200x	as long as short
MEXC ETH_USDTshort	+0.0075%	8h	2,722.3	−0.095%	$1.59B	$2.57B	500x
OKX ETH-USDT-SWAP	+0.0075%	8h	2,723.1	−0.064%	$1.65B	$10.49B	100x	as long as short
Binance ETHUSDT	+0.0076%	8h	2,722.4	−0.091%	$6.30B	$15.89B	150x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,724.9	+0.003%	$4.9M	$195K	20x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,723.2	−0.061%	$382.0M	$563.1M	100x	as long as short
Bullet ETH-USD	+0.0084%	1h	2,722.5	−0.087%	$176K	$1.7M	20x	as long as short
Phemex ETHUSDTlong	+0.0085%	8h	2,724.9	long leg	$262.5M	$63.1M	150x
Lighter ETH	+0.0096%	1h	2,724.3	−0.020%	$112.3M	$402.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,725.4	+0.020%	$23.6M	$96.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,724.1	−0.026%	—	$30.3M	500x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,723.3	−0.057%	$496K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,727	+0.078%	$15.3M	$7.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,723.5	−0.050%	$14.3M	$100.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,724.6	−0.009%	$3.10B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,724.7	−0.006%	$31.9M	$331.2M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,723.3	−0.057%	$2.7M	$16.3M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,723.8	−0.040%	$1.6M	$15.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,720.7	−0.154%	$164.6M	$337.2M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,723.3	−0.057%	$2.11B	$2.69B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,722.3	−0.092%	—	$1.04B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,724.4	−0.018%	$15.1M	$39.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,724.1	−0.028%	$131.7M	$315.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,724.3	−0.020%	$185.3M	$683.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,724.3	−0.022%	$158.4M	$80.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,724.5	−0.013%	$20.9M	$71.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,725.4	+0.019%	—	$436K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,722.5	−0.086%	$11.2M	$9.3M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,724.3	−0.020%	$40.5M	$29.1M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,722.2	−0.099%	$30.2M	$70.6M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,725.1	+0.010%	$81.8M	$308.0M	100x	as long as short
Aftermath Perps ETHUSD	+0.0110%	1h	2,726	+0.042%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,725.7	+0.031%	$45.7M	$4.20B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,723.9	−0.034%	$5.6M	$11.4M	25x	as long as short
Reya ETHRUSDPERP	+0.0171%	1h	2,723.1	−0.064%	$7.3M	$961K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0182%	8h	2,726.4	+0.058%	$32.1M	$10.9M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,727.8	+0.108%	$117K	$21.6M	52x	as long as short
Bluefin ETH-PERP	+0.1380%	1h	2,724.6	−0.008%	$20K	$23K	25x	as long as short