ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0020%/8h= +2.2% APRnext payment +$0.03 per $10,000 · paid last 24h −0.001%

Price spread now: Coinbase International against Polymarket Perps−0.009%47s7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as 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−$190.188% of the position

Long on Polymarket Perps Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now −0.009%, 7d avg +0.019%

Together, before fees+0.013%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.028% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.019%). If the spread goes back, that is −$3 on $10k: about 4.7 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.006% in total) that is about 35 days. The two prices were read 47 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	Polymarket Perps ETH-USD	2,728	0.0100	pay 0.0013% / 1h	2m 31s	$11.2M	$9.5M	50x
Short	Coinbase International ETH-PERP-INTX	2,727.8	0.0120	get 0.0015% / 1h	2m 31s	$50.5M	$4.28B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Polymarket Perps. 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 Polymarket PerpsbpFee Coinbase InternationalbpOrdersPrice spread, now −0.009%Rate

Funding earned: $4.2
Price spread: −0.009% → +0.019%: −$2.82
Slippage, 4 orders: −$0.81
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$17.43
Costs to cover: 0.188%
Break-even: 36.0 days

Slippage from Polymarket Perps: live order book, 2 min ago; Coinbase International: live order book, 2 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 Polymarket Perps live order book, 2 min ago	0.18 bp	4.4 bp −$4	5.2 bp −$52	12.2 bp −$1,216	doesn't fit
Sell Coinbase International live order book, 2 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	7.4 bp −$738	19.6 bp −$9,797

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	−0.0335%	43m	2,726.9	−0.039%	$290K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,727.5	−0.018%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0021%	8h	2,726.2	−0.065%	$1.05B	$1.20B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,726.7	−0.048%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,731.9	+0.143%	$816K	$2.9M	25x	as long as short
dYdX ETH-USD	+0.0006%	1h	2,727.7	−0.012%	$10.7M	$42.1M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,726.8	−0.043%	$28.0M	—	200x	as long as short
BingX ETH-USDT	+0.0031%	8h	2,726.4	−0.059%	—	$1.14B	—	as long as short
Bybit ETHUSDT	+0.0035%	8h	2,726	−0.073%	$2.36B	$4.40B	150x	as long as short
Bullet ETH-USD	+0.0040%	1h	2,726.3	−0.062%	$179K	$1.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0048%	1h	2,726.9	−0.040%	$186K	$785K	50x	as long as short
SunX ETH-USDT	+0.0056%	8h	2,725.4	−0.094%	$955K	$11.2M	100x	as long as short
KuCoin ETHUSDTM	+0.0062%	8h	2,726.1	−0.071%	$376.7M	$575.1M	100x	as long as short
Aster ETHUSDT	+0.0076%	8h	2,726.2	−0.068%	$252.3M	$842.8M	200x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,724	−0.148%	$4.9M	$155K	20x	as long as short
OKX ETH-USDT-SWAP	+0.0082%	8h	2,726.1	−0.068%	$1.67B	$10.73B	100x	as long as short
MEXC ETH_USDT	+0.0082%	8h	2,726.6	−0.053%	$1.56B	$2.59B	500x	as long as short
Binance ETHUSDT	+0.0082%	8h	2,726.5	−0.055%	$6.32B	$15.96B	150x	as long as short
Phemex ETHUSDT	+0.0087%	8h	2,726.8	−0.044%	$264.2M	$63.9M	150x	as long as short
ApeX Omni ETHUSDT	+0.0091%	1h	2,728.3	+0.010%	$8.7M	$31.2M	100x	as long as short
Aftermath Perps ETHUSD	+0.0091%	1h	2,728.9	+0.034%	$30K	$20K	20x	as long as short
Lighter ETH	+0.0096%	1h	2,727.2	−0.031%	$112.0M	$437.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,728.4	+0.015%	$23.4M	$105.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,731.1	+0.114%	—	$31.0M	500x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,728.9	+0.033%	$117K	$22.5M	52x	as long as short
SoDEX ETH-USD	+0.0098%	1h	2,726.7	−0.048%	$54.3M	$187.8M	40x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,726.2	−0.066%	$499K	$3.4M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,728.8	+0.031%	$15.4M	$8.0M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,726.7	−0.047%	$13.8M	$104.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,728.3	+0.011%	$3.09B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,727.4	−0.023%	$31.9M	$334.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,726.6	−0.051%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,726.8	−0.043%	$1.5M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,726.2	−0.065%	$3.33B	$8.98B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,726.6	−0.051%	$2.08B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,726.2	−0.067%	$15.0M	$42.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,730	+0.072%	$134.8M	$322.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,729	+0.036%	$183.6M	$672.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,729.5	+0.055%	$158.8M	$87.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,730.9	+0.106%	$21.0M	$72.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,728.1	+0.003%	—	$846K	50x	as long as short
Polymarket Perps ETH-USDlong	+0.0100%	1h	2,728	long leg	$11.2M	$9.5M	50x
Bluefin ETH-PERP	+0.0100%	1h	2,726.8	−0.044%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,728	+0.001%	$40.9M	$30.1M	15x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,726.9	−0.039%	$164.5M	$309.8M	25x	as long as short
Kalshi KXETHPERP	+0.0104%	8h	2,728.2	+0.007%	$6.4M	$688.1M	4.9x	as long as short
Extended ETH-USD	+0.0104%	1h	2,725.3	−0.099%	$30.6M	$73.7M	50x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,726.8	−0.046%	$5.6M	$11.7M	25x	as long as short
Coinbase International ETH-PERP-INTXshort	+0.0120%	1h	2,727.8	−0.009%	$50.5M	$4.28B	50x
Deribit ETH-PERPETUAL	+0.0146%	1h	2,728.1	+0.004%	$258.4M	$202.7M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,727.5	−0.018%	$82.8M	$316.7M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0190%	8h	2,728.7	+0.024%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0206%	1h	2,726	−0.073%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0224%	1h	2,732.2	+0.153%	$250K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0330%	8h	2,726.9	−0.039%	$281.7M	$174.5M	150x	as long as short