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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0015%/8h= +1.6% APRnext payment +$0.02 per $10,000 · paid last 24h 0.000%
Price spread now: ApeX Omni against Phoenix−0.087%7-day average −0.089% · you buy dearer than you sell
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$200.196% of the position
Long on PhoenixShort on ApeX Omni
What this pair did over the last
the charts below follow
Funding, last 7 days−0.160%−$16 on $10k
Price spread, last 7 days−0.005%−$1 · spread now −0.087%, 7d avg −0.089%
Together, before fees−0.166%−$17 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.089%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.160%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix ETH2,746.80.0017pay 0.0002% / 1h10m 46s$848K$2.9M25x
ShortApeX Omni ETHUSDT2,744.40.0032get 0.0004% / 1h10m 46s$8.8M$30.7M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phoenix. 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
$3.09
Price spread: −0.087% → −0.089%
$0.19
Slippage, 4 orders
−$2.63
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
−$16.35
Costs to cover
0.196%
Break-even
44.1 days
Slippage from Phoenix: live order book, 3 min ago; ApeX Omni: live order book, 3 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 Phoenix live order book, 3 min ago0.18 bp3.8 bp −$48.5 bp −$8522.2 bp −$2,223doesn't fit
Sell ApeX Omni live order book, 3 min ago0.89 bp5.9 bp −$65.9 bp −$5922.5 bp −$2,24776.0 bp −$38.0K

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
Hotstuff ETH-PERP−0.0080%1h2,743.2−0.131%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,735.6−0.408%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,745.4−0.051%$12.1M—200xas long as short
Perpl ETH0.0000%43m2,744.1−0.098%$305K$5.6M8.3xas long as short
dYdX ETH-USD0.0000%1h2,746.4−0.014%$10.8M$41.7M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,745.6−0.043%$25.1M—200xas long as short
Phoenix ETHlong+0.0017%1h2,746.8long leg$848K$2.9M25x
01 Exchange ETHUSD+0.0024%1h2,745−0.066%$182K$836K50xas long as short
ApeX Omni ETHUSDTshort+0.0032%1h2,744.4−0.087%$8.8M$30.7M100x
BingX ETH-USDC+0.0054%8h2,746.6−0.009%—$18.4M—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0068%8h2,746.9+0.003%$1.71B$10.56B100xas long as short
KuCoin ETHUSDTM+0.0071%8h2,746.7−0.003%$382.3M$575.3M100xas long as short
Bullet ETH-USD+0.0074%1h2,745−0.067%$182K$1.7M20xas long as short
RISEx ETH/USDC+0.0077%1h2,745.3−0.056%$5.6M$11.4M25xas long as short
Aster ETHUSDT+0.0087%8h2,746.8+0.001%$254.1M$840.9M200xas long as short
SoDEX ETH-USD+0.0091%1h2,745.4−0.051%$54.7M$187.6M40xas long as short
MEXC ETH_USDT+0.0094%8h2,746.6−0.007%$1.57B$2.56B500xas long as short
Binance ETHUSDT+0.0094%8h2,746.8−0.001%$6.38B$15.68B150xas long as short
Lighter ETH+0.0096%1h2,747.2+0.013%$112.9M$435.9M50xas long as short
Lighter RH ETH+0.0096%1h2,748.4+0.059%$24.7M$104.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,742.8−0.144%—$30.4M500xas long as short
Aevo ETH-PERP+0.0096%1h2,744.6−0.078%$4.9M$154K20xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,746.2−0.024%$56.0M$4.26B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,750.9+0.148%$16.0M$7.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,744.4−0.087%$469K$3.1M50xas long as short
Nado ETH-PERP+0.0100%1h2,744.5−0.083%$13.9M$104.8M50xas long as short
Hyperliquid ETH+0.0100%1h2,749.2+0.087%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,747.4+0.022%$31.8M$334.5M50xas long as short
Bybit ETHUSDT+0.0100%8h2,746.80.000%$2.45B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,742.7−0.149%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,747.4+0.023%$2.8M$16.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,746.6−0.008%$165.7M$303.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,747.2+0.015%$3.40B$8.77B200xas long as short
Bitget ETHUSDT+0.0100%8h2,746.9+0.003%$2.09B$2.72B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,745.5−0.048%$15.0M$39.4M50xas long as short
Variational Omni ETH+0.0100%8h2,743.1−0.135%$133.1M$325.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,743.6−0.118%$182.4M$665.2M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.7−0.112%$159.6M$83.5M50xas long as short
StandX ETH-USD+0.0100%1h2,744−0.102%$21.2M$67.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,745.1−0.063%—$815K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,745.8−0.036%$11.0M$8.8M50xas long as short
Derive ETH-PERP+0.0100%1h2,747.5+0.025%$41.5M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,745−0.064%$963K$11.4M100xas long as short
HTX ETH-USDT+0.0100%8h2,744.7−0.075%$1.06B$1.17B200xas long as short
Phemex ETHUSDT+0.0100%8h2,745.4−0.051%$266.8M$64.9M150xas long as short
Extended ETH-USD+0.0104%1h2,745.9−0.032%$30.7M$71.9M50xas long as short
Aftermath Perps ETHUSD+0.0133%1h2,745.5−0.048%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0159%8h2,744.5−0.084%$7.7M$670.4M4.9xas long as short
Orderly PERP_ETH_USDC+0.0195%8h2,747.9+0.040%$32.3M$11.4M100xas long as short
BloFin ETH-USDT+0.0218%8h2,745.4−0.052%$285.8M$180.2M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,746.3−0.019%$86.6M$310.0M100xas long as short
Reya ETHRUSDPERP+0.0227%1h2,744.1−0.100%$7.3M$1.2M25xas long as short
Deribit ETH-PERPETUAL+0.0231%1h2,747+0.008%$259.8M$195.3M50xas long as short
Hibachi ETH/USDT-P+0.0256%1h2,745.3−0.053%$252K$1.4M20xas long as short
Bluefin ETH-PERP+0.0402%1h2,745.7−0.040%$21K$20K25xas long as short