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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 22:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h −0.001%
Price spread now: Deribit against Polymarket Perps−0.031%7-day average +0.030% · you buy dearer than you sell
Net, funding: paid 7d − costs−$23as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$190.187% of the position
Long on Polymarket PerpsShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.046%−$5 on $10k
Price spread, last 3 days (all we have)+0.017%+$2 · spread now −0.031%, 7d avg +0.030%
Together, before fees−0.029%−$3 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.060% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.030%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps ETH-USD2,778.90.0100pay 0.0013% / 1h21m 21s$10.8M$7.7M50x
ShortDeribit ETH-PERPETUAL2,778.10.0092get 0.0011% / 1h21m 21s$258.5M$225.0M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit 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

Funding earned
−$1.68
Price spread: −0.031% → +0.030%
−$6.04
Slippage, 4 orders
−$3.74
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
−$26.45
Costs to cover
0.187%
Break-even
never at this rate
Slippage from Polymarket Perps: live order book, 3 min ago; Deribit: 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 Polymarket Perps live order book, 3 min ago0.18 bp5.3 bp −$57.9 bp −$7918.3 bp −$1,827doesn't fit
Sell Deribit live order book, 3 min ago0.09 bp3.9 bp −$45.3 bp −$5311.3 bp −$1,13127.2 bp −$13.6K

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−0.0112%43m2,776−0.105%$289K$6.9M8.3xas long as short
Injective ETH/USDC PERP−0.0107%1h2,775.7−0.115%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,776.5−0.086%$5K$2K50xas long as short
01 Exchange ETHUSD−0.0056%1h2,778.2−0.025%$172K$1.2M50xas long as short
Phoenix ETH−0.0023%1h2,773.4−0.198%$858K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,778−0.033%$5.8M$11.7M25xas long as short
Aftermath Perps ETHUSD−0.0001%1h2,774.7−0.151%$29K$22K20xas long as short
dYdX ETH-USD0.0000%1h2,778.6−0.011%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,776.9−0.073%$22.4M—200xas long as short
Phemex ETHUSDT+0.0012%8h2,776.1−0.100%$267.3M$66.0M150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0022%8h2,776−0.104%$1.71B$11.92B100xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,776.8−0.077%$13.2M—200xas long as short
Aster ETHUSDT+0.0039%8h2,777.5−0.051%$257.0M$995.8M200xas long as short
ApeX Omni ETHUSDT+0.0039%1h2,776.7−0.081%$8.8M$32.6M100xas long as short
MEXC ETH_USDT+0.0048%8h2,775.7−0.117%$1.61B$2.68B500xas long as short
Aevo ETH-PERP+0.0048%1h2,775.8−0.111%$5.0M$636K20xas long as short
Binance ETHUSDT+0.0049%8h2,776.1−0.101%$6.44B$17.23B150xas long as short
Gate ETH_USDT+0.0073%8h2,776.1−0.100%$3.29B$9.67B200xas long as short
Bitget ETHUSDT+0.0074%8h2,776.3−0.095%$2.10B$3.13B150xas long as short
Bullet ETH-USD+0.0082%1h2,775.9−0.108%$183K$1.8M20xas long as short
Deribit ETH-PERPETUALshort+0.0092%1h2,778.1−0.031%$258.5M$225.0M50x
Variational Omni ETH+0.0092%8h2,774.2−0.171%$140.6M$320.2M—as long as short
Lighter ETH+0.0096%1h2,779.1+0.007%$115.3M$514.3M50xas long as short
Lighter RH ETH+0.0096%1h2,780.4+0.053%$25.4M$122.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,776.8−0.076%—$41.7M500xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,778.3−0.023%$16.0M$10.8M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,778.5−0.014%$489K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,777.6−0.048%$15.3M$117.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,778.7−0.007%$3.21B$2.39B25xas long as short
Pacifica ETH+0.0100%1h2,779+0.004%$31.3M$287.3M50xas long as short
Bybit ETHUSDT+0.0100%8h2,776.1−0.100%$2.51B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,777.6−0.047%$2.9M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,779.9+0.034%$2.8M$17.4M25xas long as short
Bulk ETH-USD+0.0100%1h2,778.1−0.029%$165.4M$253.6M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,776−0.104%$423.0M$741.9M100xas long as short
BingX ETH-USDC+0.0100%8h2,775.9−0.108%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,777.7−0.045%$15.4M$42.8M50xas long as short
edgeX ETHUSDC+0.0100%4h2,776.9−0.072%$178.5M$792.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,777−0.067%$161.6M$97.3M50xas long as short
StandX ETH-USD+0.0100%1h2,777−0.068%$21.4M$57.7M40xas long as short
Polymarket Perps ETH-USDlong+0.0100%1h2,778.9long leg$10.8M$7.7M50x
Bluefin ETH-PERP+0.0100%1h2,777−0.069%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,778.6−0.009%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,776.6−0.082%$974K$14.2M100xas long as short
SoDEX ETH-USD+0.0100%1h2,776.2−0.097%$55.3M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,777.2−0.062%$1.08B$1.32B200xas long as short
Vest ETH-PERP+0.0100%1h2,778.1−0.029%—$1.1M50xas long as short
Extended ETH-USD+0.0104%1h2,775.9−0.108%$31.4M$75.9M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,778−0.034%$60.1M$4.63B50xas long as short
Kalshi KXETHPERP+0.0121%8h2,777.6−0.047%$8.6M$673.1M4.9xas long as short
Orderly PERP_ETH_USDC+0.0133%8h2,779.2+0.011%$32.6M$12.0M100xas long as short
BloFin ETH-USDT+0.0167%8h2,776.3−0.095%$285.2M$195.7M150xas long as short
Reya ETHRUSDPERP+0.0183%1h2,775.6−0.117%$7.4M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0240%1h2,777.5−0.049%$86.6M$330.7M100xas long as short
Hibachi ETH/USDT-P+0.0440%1h2,779.2+0.011%$284K$1.5M20xas long as short