Funding you earn now, next payment 07:00 UTC+0.0502%/8h= +55.0% APRnext payment +$0.63 per $10,000 · paid last 24h +0.040%
Price spread now: Bluefin against Phoenix−0.019%67s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$15 a day on $10k at the current rate. The two prices were read 67 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 | Phoenix ETH | 2,724.3 | −0.0015 | get 0.0002% / 1h | 21m 54s | $808K | $3.0M | 25x |
| Short | Bluefin ETH-PERP | 2,723.8 | 0.0488 | get 0.0061% / 1h | 21m 54s | $20K | $23K | 25x |
Phoenix ETH
Bluefin ETH-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bluefin against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $105.47
- Price spread: −0.019% → 0.000%
- −$1.95
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bluefin: 3.5 bp × 2 orders
- −$7
- Net
- $89.52
- Costs to cover
- 0.140%
- Break-even
- 1.1 days
Slippage unknown: Phoenix: live order book, 2 min ago; Bluefin: no order-book sample. Net counts fees only.
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 Phoenix live order book, 2 min ago | 0.18 bp | 3.8 bp −$4 | 7.1 bp −$71 | 20.3 bp −$2,025 | doesn't fit |
| Sell Bluefin no order-book sample | — | — | — | — | — |
Bluefin: 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 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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl ETH | −0.0447% | 43m | 2,723.3 | −0.039% | $277K | $5.7M | 8.3x | as long as short |
| BloFin ETH-USDT | −0.0177% | 8h | 2,724.4 | +0.003% | $281.4M | $177.5M | 150x | as long as short |
| Hotstuff ETH-PERP | −0.0080% | 1h | 2,724 | −0.011% | $5K | $1K | 50x | as long as short |
| Phoenix ETHlong | −0.0015% | 1h | 2,724.3 | long leg | $808K | $3.0M | 25x | |
| GMX ETH/USD [ETH-USDC] | L −0.0010% / S +0.0043% | 1h | 2,723.5 | −0.030% | $11.9M | — | 200x | as long as short |
| dYdX ETH-USD | 0.0000% | 1h | 2,723.6 | −0.026% | $10.5M | $41.9M | 50x | as long as short |
| Kalshi KXETHPERP | 0.0000% | 8h | 2,724.5 | +0.007% | $6.7M | $679.7M | 4.9x | as long as short |
| Deribit ETH-PERPETUAL | 0.0000% | 1h | 2,723.9 | −0.016% | $262.2M | $211.7M | 50x | as long as short |
| gTrade (Gains Network) ETH/USD | L +0.0007% / S −0.0006% | 1h | 2,723.5 | −0.030% | $32.9M | — | 200x | as long as short |
| BingX ETH-USDC | +0.0017% | 8h | 2,722.6 | −0.064% | — | $18.6M | — | as long as short |
Perpl ETH
BloFin ETH-USDT
Hotstuff ETH-PERP
GMX ETH/USD [ETH-USDC]
dYdX ETH-USD
Kalshi KXETHPERP
Deribit ETH-PERPETUAL
gTrade (Gains Network) ETH/USD
BingX ETH-USDCShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ETHUSDT | +0.0020% | 8h | 2,723 | −0.049% | $2.31B | $4.34B | 150x | as long as short |
| HTX ETH-USDT | +0.0030% | 8h | 2,723 | −0.048% | $1.05B | $1.22B | 200x | as long as short |
| 01 Exchange ETHUSD | +0.0032% | 1h | 2,724.1 | −0.007% | $190K | $884K | 50x | as long as short |
| ApeX Omni ETHUSDT | +0.0046% | 1h | 2,722.9 | −0.051% | $8.5M | $31.5M | 100x | as long as short |
| Hibachi ETH/USDT-P | +0.0048% | 1h | 2,724.4 | +0.002% | $241K | $1.4M | 20x | as long as short |
| Injective ETH/USDC PERP | +0.0050% | 1h | 2,722.9 | −0.051% | $117K | $21.2M | 52x | as long as short |
| Kraken Futures PF_ETHUSD | +0.0060% | 1h | 2,723.6 | −0.025% | $81.7M | $310.7M | 100x | as long as short |
| OKX ETH-USDT-SWAP | +0.0071% | 8h | 2,723.2 | −0.042% | $1.65B | $10.79B | 100x | as long as short |
| KuCoin ETHUSDTM | +0.0072% | 8h | 2,723.4 | −0.033% | $381.7M | $577.6M | 100x | as long as short |
| Aster ETHUSDT | +0.0076% | 8h | 2,723 | −0.047% | $252.3M | $847.6M | 200x | as long as short |
| MEXC ETH_USDT | +0.0088% | 8h | 2,723.1 | −0.045% | $1.58B | $2.58B | 500x | as long as short |
| Aevo ETH-PERP | +0.0088% | 1h | 2,720.9 | −0.126% | $4.9M | $172K | 20x | as long as short |
| Binance ETHUSDT | +0.0088% | 8h | 2,723.1 | −0.045% | $6.30B | $16.13B | 150x | as long as short |
| SoDEX ETH-USD | +0.0095% | 1h | 2,723 | −0.048% | $54.2M | $182.7M | 40x | as long as short |
| Lighter ETH | +0.0096% | 1h | 2,723.6 | −0.028% | $112.0M | $432.6M | 50x | as long as short |
| Lighter RH ETH | +0.0096% | 1h | 2,724.8 | +0.018% | $23.4M | $102.4M | 50x | as long as short |
| Aftermath Perps ETHUSD | +0.0099% | 1h | 2,724.5 | +0.007% | $30K | $20K | 20x | as long as short |
| Katana Perps ETH-USD | +0.0100% | 8h | 2,723.5 | −0.029% | $499K | $3.6M | 50x | as long as short |
| Paradex ETH-USD-PERP | +0.0100% | 8h | 2,728.2 | +0.144% | $15.3M | $7.7M | 50x | as long as short |
| Nado ETH-PERP | +0.0100% | 1h | 2,723.2 | −0.039% | $14.0M | $104.6M | 50x | as long as short |
| Hyperliquid ETH | +0.0100% | 1h | 2,725.5 | +0.044% | $3.10B | $2.04B | 25x | as long as short |
| Pacifica ETH | +0.0100% | 1h | 2,724.9 | +0.021% | $31.9M | $333.5M | 50x | as long as short |
| Ondo Perps ETH-USD.P | +0.0100% | 1h | 2,723.3 | −0.037% | $2.7M | $16.8M | 25x | as long as short |
| Arcus ETH-USD | +0.0100% | 1h | 2,724.1 | −0.006% | $1.6M | $16.0M | 25x | as long as short |
| Gate ETH_USDT | +0.0100% | 8h | 2,723.3 | −0.036% | $3.31B | $8.92B | 200x | as long as short |
| Bitget ETHUSDT | +0.0100% | 8h | 2,723.7 | −0.022% | $2.10B | $2.77B | 150x | as long as short |
| Backpack ETH_USDC_PERP | +0.0100% | 1h | 2,722.9 | −0.050% | $14.9M | $40.5M | 50x | as long as short |
| Variational Omni ETH | +0.0100% | 8h | 2,722 | −0.086% | $133.5M | $316.5M | — | as long as short |
| edgeX ETHUSDC | +0.0100% | 4h | 2,722.4 | −0.071% | $185.2M | $681.7M | 100x | as long as short |
| GRVT ETH_USDT_Perp | +0.0100% | 8h | 2,722.8 | −0.053% | $158.2M | $81.9M | 50x | as long as short |
| StandX ETH-USD | +0.0100% | 1h | 2,723.1 | −0.044% | $20.9M | $70.2M | 40x | as long as short |
| Vest ETH-PERP | +0.0100% | 1h | 2,724.9 | +0.023% | — | $445K | 50x | as long as short |
| Polymarket Perps ETH-USD | +0.0100% | 1h | 2,725 | +0.026% | $11.2M | $9.4M | 50x | as long as short |
| Bullet ETH-USD | +0.0100% | 1h | 2,723.1 | −0.044% | $183K | $1.7M | 20x | as long as short |
| Derive ETH-PERP | +0.0100% | 1h | 2,724.6 | +0.013% | $40.8M | $29.9M | 15x | as long as short |
| SunX ETH-USDT | +0.0100% | 8h | 2,722.6 | −0.063% | $955K | $10.8M | 100x | as long as short |
| Phemex ETHUSDT | +0.0100% | 8h | 2,722.7 | −0.061% | $262.3M | $64.4M | 150x | as long as short |
| Bulk ETH-USD | +0.0100% | 1h | 2,727.2 | +0.106% | $162.8M | $356.2M | 25x | as long as short |
| Extended ETH-USD | +0.0104% | 1h | 2,722.3 | −0.072% | $30.4M | $71.6M | 50x | as long as short |
| Jupiter Perps ETH-PERP | L +0.0104% / S +0.0056% | 1h | 2,723.5 | −0.028% | — | $30.2M | 500x | as long as short |
| Coinbase International ETH-PERP-INTX | +0.0112% | 1h | 2,724.3 | +0.001% | $46.6M | $4.27B | 50x | as long as short |
| RISEx ETH/USDC | +0.0114% | 1h | 2,724.2 | −0.005% | $5.6M | $11.7M | 25x | as long as short |
| Reya ETHRUSDPERP | +0.0180% | 1h | 2,722.4 | −0.071% | $7.3M | $972K | 25x | as long as short |
| Orderly PERP_ETH_USDC | +0.0184% | 8h | 2,725.4 | +0.040% | $32.1M | $11.2M | 100x | as long as short |
| Bluefin ETH-PERPshort | +0.0488% | 1h | 2,723.8 | −0.019% | $20K | $23K | 25x |
Bybit ETHUSDT
HTX ETH-USDT
01 Exchange ETHUSD
ApeX Omni ETHUSDT
Hibachi ETH/USDT-P
Injective ETH/USDC PERP
Kraken Futures PF_ETHUSD
OKX ETH-USDT-SWAP
KuCoin ETHUSDTM
Aster ETHUSDT
MEXC ETH_USDT
Aevo ETH-PERP
Binance ETHUSDT
SoDEX ETH-USD
Lighter ETH
Lighter RH ETH
Aftermath Perps ETHUSD
Katana Perps ETH-USD
Paradex ETH-USD-PERP
Nado ETH-PERP
Hyperliquid ETH
Pacifica ETH
Ondo Perps ETH-USD.P
Arcus ETH-USD
Gate ETH_USDT
Bitget ETHUSDT
Backpack ETH_USDC_PERP
Variational Omni ETH
edgeX ETHUSDC
GRVT ETH_USDT_Perp
StandX ETH-USD
Vest ETH-PERP
Polymarket Perps ETH-USD
Bullet ETH-USD
Derive ETH-PERP
SunX ETH-USDT
Phemex ETHUSDT
Bulk ETH-USD
Extended ETH-USD
Jupiter Perps ETH-PERP
Coinbase International ETH-PERP-INTX
RISEx ETH/USDC
Reya ETHRUSDPERP
Orderly PERP_ETH_USDC