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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 12:00 UTC−0.0007%/8h= −0.7% APRnext payment −$0.01 per $10,000 · paid last 24h −0.011%
Price spread now: dYdX against Polymarket Perps−0.019%7-day average −0.022% · you buy dearer than you sell
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$240.243% of the position
Long on Polymarket PerpsShort on dYdX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.072%+$7 on $10k
Price spread, last 7 days+0.035%+$3 · spread now −0.019%, 7d avg −0.022%
Together, before fees+0.107%+$11 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps ETH-USD2,7430.0100pay 0.0013% / 1h8m 14s$11.2M$8.5M50x
ShortdYdX ETH-USD2,742.50.0093get 0.0012% / 1h8m 14s$15.2M$42.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

dYdX 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
−$1.4
Price spread: −0.019% → −0.022%
$0.22
Slippage, 4 orders
−$6.26
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee dYdX: 5 bp × 2 orders
−$10
Net
−$25.44
Costs to cover
0.243%
Break-even
never at this rate
Slippage from Polymarket Perps: live order book, 4 min ago; dYdX: live order book, 4 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, 4 min ago0.18 bp4.4 bp −$45.7 bp −$578.8 bp −$882doesn't fit
Sell dYdX live order book, 4 min ago2.00 bp8.3 bp −$816.1 bp −$16131.0 bp −$3,09646.9 bp −$23.5K

ETH on 55 exchanges

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%1h2,743.5+0.018%$5K$1K50xas long as short
Hibachi ETH/USDT-P−0.0064%1h2,744.2+0.042%$228K$1.2M20xas long as short
GMX ETH/USD [ETH-USDC]L −0.0009% / S +0.0043%1h2,741.9−0.039%$12.2M—200xas long as short
Phoenix ETH−0.0009%1h2,743.7+0.026%$818K$2.8M25xas long as short
Kalshi KXETHPERP0.0000%8h2,742.4−0.022%$7.1M$659.6M4.9xas long as short
Perpl ETH0.0000%43m2,741.8−0.045%$264K$4.9M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,742−0.036%$33.1M—200xas long as short
01 Exchange ETHUSD+0.0032%1h2,742.1−0.033%$183K$916K50xas long as short
Bybit ETHUSDT+0.0054%8h2,741.8−0.043%$2.37B$3.74B150xas long as short
Deribit ETH-PERPETUAL+0.0064%1h2,742.9−0.005%$267.6M$179.6M50xas long as short
Show all 55 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
ApeX Omni ETHUSDT+0.0072%1h2,742.2−0.028%$8.2M$24.1M100xas long as short
OKX ETH-USDT-SWAP+0.0080%8h2,741.9−0.040%$1.67B$8.90B100xas long as short
SoDEX ETH-USD+0.0090%1h2,741.7−0.047%$61.7M$121.5M40xas long as short
MEXC ETH_USDT+0.0093%8h2,741.6−0.052%$1.58B$2.33B500xas long as short
dYdX ETH-USDshort+0.0093%1h2,742.5−0.019%$15.2M$42.2M50x
Binance ETHUSDT+0.0094%8h2,741.8−0.045%$6.41B$13.50B150xas long as short
KuCoin ETHUSDTM+0.0095%8h2,741.7−0.046%$379.2M$427.4M100xas long as short
Lighter ETH+0.0096%1h2,742.1−0.032%$113.3M$388.8M50xas long as short
Lighter RH ETH+0.0096%1h2,743.5+0.019%$23.7M$95.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,742.8−0.007%—$23.4M500xas long as short
Aevo ETH-PERP+0.0096%1h2,740.2−0.100%$4.9M$271K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,741.6−0.051%$469K$3.6M50xas long as short
Nado ETH-PERP+0.0100%1h2,743.8+0.030%$14.9M$93.1M50xas long as short
Aster ETHUSDT+0.0100%8h2,742.1−0.035%$253.0M$696.6M200xas long as short
Pacifica ETH+0.0100%1h2,742.7−0.011%$32.0M$319.5M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,741.5−0.055%$2.8M$14.0M25xas long as short
Arcus ETH-USD+0.0100%1h2,742.8−0.007%$1.6M$14.3M25xas long as short
Bulk ETH-USD+0.0100%1h2,745.1+0.076%$164.8M$316.4M25xas long as short
Gate ETH_USDT+0.0100%8h2,742.2−0.030%$3.26B$7.69B200xas long as short
Bitget ETHUSDT+0.0100%8h2,741.9−0.040%$2.11B$2.24B150xas long as short
BingX ETH-USDT+0.0100%8h2,741.8−0.043%—$934.8M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,742.9−0.005%$15.1M$34.9M50xas long as short
Variational Omni ETH+0.0100%8h2,741.7−0.047%$134.2M$272.5M—as long as short
edgeX ETHUSDC+0.0100%4h2,744+0.035%$184.6M$546.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.1+0.003%$159.4M$70.2M50xas long as short
StandX ETH-USD+0.0100%1h2,743.9+0.033%$21.0M$79.0M40xas long as short
Vest ETH-PERP+0.0100%1h2,743.4+0.013%—$319K50xas long as short
Polymarket Perps ETH-USDlong+0.0100%1h2,743long leg$11.2M$8.5M50x
Bullet ETH-USD+0.0100%1h2,741.6−0.049%$176K$1.6M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,744.4+0.050%$20K$7K25xas long as short
Derive ETH-PERP+0.0100%1h2,743.2+0.007%$40.9M$24.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,741.3−0.061%$946K$7.9M100xas long as short
HTX ETH-USDT+0.0100%8h2,741.8−0.045%$1.05B$970.8M200xas long as short
Phemex ETHUSDT+0.0100%8h2,741.8−0.046%$262.8M$56.9M150xas long as short
Extended ETH-USD+0.0104%1h2,740.8−0.079%$30.2M$63.5M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,742.8−0.006%$48.2M$3.86B50xas long as short
Aftermath Perps ETHUSD+0.0115%1h2,743.7+0.024%$30K$8K20xas long as short
Kraken Futures PF_ETHUSD+0.0120%1h2,742.3−0.026%$82.7M$263.2M100xas long as short
Reya ETHRUSDPERP+0.0138%1h2,740.7−0.085%$7.3M$854K25xas long as short
Hyperliquid ETH+0.0146%1h2,745+0.073%$3.16B$1.62B25xas long as short
Orderly PERP_ETH_USDC+0.0194%8h2,743.9+0.032%$32.4M$9.8M100xas long as short
RISEx ETH/USDC+0.0342%1h2,742.5−0.017%$5.7M$10.5M25xas long as short
BloFin ETH-USDT+0.0377%8h2,743.6+0.023%$285.0M$144.6M150xas long as short
Paradex ETH-USD-PERP+0.0385%8h2,744.3+0.049%$15.8M$6.0M50xas long as short
Injective ETH/USDC PERP+0.0477%1h2,741.8−0.044%$118K$25.4M52xas long as short