ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0141%/8h= −15.4% APRnext payment −$0.18 per $10,000 · paid last 24h −0.027%

Price spread now: Injective against Polymarket Perps+0.152%111s7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as 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−$710.708% of the position

Long on Polymarket Perps Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 3 days (all we have)−0.312%−$31 · spread now +0.152%, 7d avg +0.050%

Together, before fees−0.185%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.102% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.152% now, against its 7-day average of +0.050%): +$10 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.128%, so the current rate has only just turned against you. The two prices were read 111 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	2,771.2	0.0100	pay 0.0013% / 1h	31m 30s	$10.8M	$7.6M	50x
Short	Injective ETH/USDC PERP	2,775.4	−0.0041	pay 0.0005% / 1h	31m 30s	$119K	$22.5M	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.152%Rate

Funding earned: −$29.58
Price spread: +0.152% → +0.050%: $10.2
Slippage, 4 orders: −$62.79
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$90.19
Costs to cover: 0.708%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Injective: live order book, 3 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, 3 min ago	0.18 bp	4.7 bp −$5	5.0 bp −$50	11.1 bp −$1,114	doesn't fit
Sell Injective live order book, 3 min ago	18.15 bp	42.4 bp −$42	43.2 bp −$432	43.3 bp −$4,331	doesn't fit

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	2,770.9	−0.012%	$289K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,769.7	−0.054%	$5.8M	$12.1M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,770.7	−0.018%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERPshort	−0.0041%	1h	2,775.4	+0.152%	$119K	$22.5M	52x
01 Exchange ETHUSD	−0.0040%	1h	2,770.3	−0.032%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0022%	1h	2,775.8	+0.168%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,770.5	−0.025%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,778.1	+0.249%	$886K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,770.5	−0.025%	$22.4M	—	200x	as long as short
BingX ETH-USDT	+0.0016%	8h	2,769.6	−0.058%	—	$1.18B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0020%	8h	2,769.9	−0.048%	$1.70B	$11.81B	100x	as long as short
Phemex ETHUSDT	+0.0023%	8h	2,772.5	+0.048%	$269.6M	$68.7M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,770.4	−0.029%	$12.9M	—	200x	as long as short
Aster ETHUSDT	+0.0034%	8h	2,769.8	−0.051%	$255.8M	$990.5M	200x	as long as short
Bullet ETH-USD	+0.0037%	1h	2,769.8	−0.052%	$180K	$1.7M	20x	as long as short
MEXC ETH_USDT	+0.0060%	8h	2,769.8	−0.052%	$1.62B	$2.66B	500x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,770	−0.045%	$6.43B	$17.15B	150x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,770.6	−0.023%	$5.0M	$636K	20x	as long as short
Nado ETH-PERP	+0.0064%	1h	2,769.2	−0.072%	$14.3M	$118.0M	50x	as long as short
Gate ETH_USDT	+0.0072%	8h	2,769.8	−0.051%	$3.28B	$9.60B	200x	as long as short
Bitget ETHUSDT	+0.0072%	8h	2,769.8	−0.051%	$2.10B	$3.10B	150x	as long as short
Deribit ETH-PERPETUAL	+0.0075%	1h	2,773.4	+0.079%	$258.3M	$222.2M	50x	as long as short
SoDEX ETH-USD	+0.0083%	1h	2,771.8	+0.022%	$55.2M	$228.8M	40x	as long as short
Bybit ETHUSDT	+0.0092%	8h	2,769.7	−0.054%	$2.51B	$4.61B	150x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,772.1	+0.034%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,770.3	−0.033%	$114.8M	$499.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,771.5	+0.009%	$25.4M	$121.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,773.6	+0.088%	—	$41.5M	500x	as long as short
ApeX Omni ETHUSDT	+0.0097%	1h	2,777.8	+0.236%	$8.7M	$32.5M	100x	as long as short
KuCoin ETHUSDTM	+0.0098%	8h	2,769.8	−0.052%	$424.5M	$738.1M	100x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,769.6	−0.058%	$15.9M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,769.9	−0.047%	$479K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772.2	+0.036%	$3.18B	$2.37B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,770.2	−0.034%	$31.3M	$297.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,768.9	−0.083%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,771.6	+0.014%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,781.3	+0.365%	$166.9M	$248.1M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,771	−0.006%	$15.2M	$44.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,774.6	+0.122%	$135.3M	$322.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,777.1	+0.211%	$180.0M	$780.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,777	+0.210%	$161.5M	$91.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,772.6	+0.051%	$21.4M	$58.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,770.9	−0.009%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USDlong	+0.0100%	1h	2,771.2	long leg	$10.8M	$7.6M	50x
Bluefin ETH-PERP	+0.0100%	1h	2,772.4	+0.043%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,774.1	+0.106%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,771	−0.006%	$972K	$14.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,768.8	−0.087%	$31.5M	$74.5M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,773.8	+0.095%	$60.1M	$4.59B	50x	as long as short
Kalshi KXETHPERP	+0.0119%	8h	2,774.2	+0.108%	$8.6M	$675.0M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0137%	8h	2,774.3	+0.112%	$32.5M	$12.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0168%	1h	2,773.6	+0.085%	$278K	$1.5M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,773.7	+0.091%	$86.3M	$331.1M	100x	as long as short
BloFin ETH-USDT	+0.0181%	8h	2,775.4	+0.153%	$285.0M	$194.4M	150x	as long as short
Reya ETHRUSDPERP	+0.0190%	1h	2,769.7	−0.055%	$7.3M	$1.2M	25x	as long as short