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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 08:00 UTC+0.0001%/8h= +0.1% APRnext payment +$0.01 per $10,000 · paid last 24h +0.015%
Price spread now: SunX against Phemex−0.036%7-day average −0.017% · you buy dearer than you sell
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$220.224% of the position
Long on PhemexShort on SunX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.106%+$11 on $10k
Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.036%, 7d avg −0.017%
Together, before fees+0.118%+$12 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex ETHUSDT2,726.50.0099pay 0.0099% / 8h19m 02s$262.7M$64.5M150x
ShortSunX ETH-USDT2,725.50.0100get 0.0100% / 8h19m 02s$956K$10.8M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SunX 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
$0.25
Price spread: −0.036% → −0.017%
−$1.9
Slippage, 4 orders
−$2.37
Fee Phemex: 6 bp × 2 orders
−$12
Fee SunX: 4 bp × 2 orders
−$8
Net
−$24.01
Costs to cover
0.224%
Break-even
673.9 days
Slippage from Phemex: live order book, 5 min ago; SunX: live order book, 10 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, 5 min ago0.02 bp6.0 bp −$67.0 bp −$7010.9 bp −$1,08815.0 bp −$7,489
Sell SunX live order book, 10 min ago0.20 bp4.2 bp −$44.8 bp −$487.5 bp −$75311.7 bp −$5,849

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−0.0447%43m2,725.5−0.036%$276K$5.7M8.3xas long as short
BloFin ETH-USDT−0.0177%8h2,726−0.019%$281.9M$177.6M150xas long as short
Hotstuff ETH-PERP−0.0080%1h2,724.2−0.085%$5K$1K50xas long as short
Phoenix ETH−0.0015%1h2,724.5−0.074%$808K$3.0M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,727.1+0.021%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,725−0.055%$10.5M$41.9M50xas long as short
Kalshi KXETHPERP0.0000%8h2,725.9−0.022%$6.7M$678.6M4.9xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,727.7+0.042%$263.5M$213.6M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,727.3+0.030%$32.9M—200xas long as short
BingX ETH-USDC+0.0017%8h2,726.3−0.008%—$18.7M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ETHUSDT+0.0020%8h2,726.7+0.008%$2.32B$4.34B150xas long as short
HTX ETH-USDT+0.0031%8h2,726.5−0.001%$1.05B$1.22B200xas long as short
01 Exchange ETHUSD+0.0032%1h2,727.3+0.029%$190K$884K50xas long as short
Injective ETH/USDC PERP+0.0050%1h2,730.5+0.146%$166K$21.6M52xas long as short
ApeX Omni ETHUSDT+0.0051%1h2,722.5−0.146%$8.4M$31.5M100xas long as short
Hibachi ETH/USDT-P+0.0056%1h2,724.1−0.087%$241K$1.4M20xas long as short
Kraken Futures PF_ETHUSD+0.0060%1h2,727.5+0.037%$81.9M$310.8M100xas long as short
OKX ETH-USDT-SWAP+0.0072%8h2,726.9+0.013%$1.65B$10.80B100xas long as short
KuCoin ETHUSDTM+0.0074%8h2,727+0.017%$382.3M$577.5M100xas long as short
Aster ETHUSDT+0.0076%8h2,726.5+0.001%$252.6M$847.3M200xas long as short
MEXC ETH_USDT+0.0088%8h2,727+0.018%$1.58B$2.59B500xas long as short
Aevo ETH-PERP+0.0088%1h2,724.9−0.060%$4.9M$172K20xas long as short
Binance ETHUSDT+0.0088%8h2,726.8+0.009%$6.31B$16.12B150xas long as short
Lighter ETH+0.0096%1h2,727.4+0.031%$112.3M$433.0M50xas long as short
Lighter RH ETH+0.0096%1h2,728.6+0.077%$23.4M$102.4M50xas long as short
Phemex ETHUSDTlong+0.0099%8h2,726.5long leg$262.7M$64.5M150x
Katana Perps ETH-USD+0.0100%8h2,726.50.000%$500K$3.6M50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,729.8+0.122%$15.3M$7.6M50xas long as short
Nado ETH-PERP+0.0100%1h2,726.7+0.008%$14.0M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,729.1+0.095%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,726.3−0.006%$32.1M$333.3M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,725.6−0.033%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,727.1+0.021%$1.6M$16.0M25xas long as short
Gate ETH_USDT+0.0100%8h2,727+0.018%$3.31B$8.93B200xas long as short
Bitget ETHUSDT+0.0100%8h2,727+0.018%$2.11B$2.77B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,726.3−0.006%$15.0M$40.5M50xas long as short
Variational Omni ETH+0.0100%8h2,722.2−0.157%$133.6M$316.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,721.7−0.176%$185.2M$682.4M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,723.4−0.113%$158.3M$81.9M50xas long as short
StandX ETH-USD+0.0100%1h2,724.1−0.088%$20.9M$70.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,727.9+0.051%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,728.2+0.062%$11.2M$9.4M50xas long as short
Bullet ETH-USD+0.0100%1h2,726.9+0.013%$182K$1.7M20xas long as short
Derive ETH-PERP+0.0100%1h2,724.6−0.068%$40.8M$29.9M15xas long as short
SunX ETH-USDTshort+0.0100%8h2,725.5−0.036%$956K$10.8M100x
SoDEX ETH-USD+0.0100%1h2,727+0.018%$54.3M$182.7M40xas long as short
Bulk ETH-USD+0.0100%1h2,726.7+0.008%$161.2M$356.8M25xas long as short
Aftermath Perps ETHUSD+0.0100%1h2,725−0.055%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,726.1−0.016%$30.4M$71.6M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,727.3+0.030%—$30.2M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,728.5+0.071%$46.6M$4.28B50xas long as short
RISEx ETH/USDC+0.0114%1h2,727.4+0.033%$5.6M$11.7M25xas long as short
Reya ETHRUSDPERP+0.0180%1h2,726.2−0.013%$7.3M$972K25xas long as short
Orderly PERP_ETH_USDC+0.0184%8h2,729.3+0.102%$32.2M$11.2M100xas long as short
Bluefin ETH-PERP+0.0407%1h2,726.7+0.006%$20K$23K25xas long as short