Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

ETH

all ETH markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 01:00 UTC−0.0106%/8h= −11.6% APRnext payment −$0.13 per $10,000 · paid last 24h −0.014%
Price spread now: Phoenix against Polymarket Perps+0.015%7-day average +0.082% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$170.169% of the position
Long on Polymarket PerpsShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days−0.008%−$1 on $10k
Price spread, last 7 days+0.069%+$7 · spread now +0.015%, 7d avg +0.082%
Together, before fees+0.061%+$6 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.068% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.082%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps ETH-USD2,752.40.0100pay 0.0013% / 1h22m 39s$10.7M$8.6M50x
ShortPhoenix ETH2,752.8−0.0006pay 0.0001% / 1h22m 39s$849K$3.1M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix 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
−$22.22
Price spread: +0.015% → +0.082%
−$6.79
Slippage, 4 orders
−$1.89
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$45.9
Costs to cover
0.169%
Break-even
never at this rate
Slippage from Polymarket Perps: live order book, 2 min ago; Phoenix: live order book, 1 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, 2 min ago0.36 bp4.4 bp −$45.8 bp −$5815.8 bp −$1,582doesn't fit
Sell Phoenix live order book, 1 min ago0.18 bp3.8 bp −$47.1 bp −$7116.0 bp −$1,596doesn't fit

ETH on 54 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−0.0447%43m2,751.9−0.020%$312K$6.0M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,752.1−0.011%$5K$1K50xas long as short
RISEx ETH/USDC−0.0071%1h2,752.8+0.015%$5.7M$11.4M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,752−0.015%$11.9M—200xas long as short
Phoenix ETHshort−0.0006%1h2,752.8+0.015%$849K$3.1M25x
dYdX ETH-USD0.0000%1h2,753.4+0.038%$10.8M$42.0M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,752−0.015%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0024%1h2,753+0.022%$181K$1.1M50xas long as short
ApeX Omni ETHUSDT+0.0033%1h2,752.6+0.009%$8.7M$31.5M100xas long as short
BingX ETH-USDC+0.0036%8h2,752.4−0.002%—$18.1M—as long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0047%8h2,752.9+0.016%$1.69B$10.98B100xas long as short
HTX ETH-USDT+0.0057%8h2,751.3−0.041%$1.07B$1.21B200xas long as short
KuCoin ETHUSDTM+0.0071%8h2,752.6+0.008%$371.0M$607.6M100xas long as short
Aster ETHUSDT+0.0071%8h2,752.4−0.001%$253.1M$857.4M200xas long as short
MEXC ETH_USDT+0.0080%8h2,752.7+0.011%$1.57B$2.56B500xas long as short
Aevo ETH-PERP+0.0080%1h2,749.2−0.117%$4.9M$168K20xas long as short
Binance ETHUSDT+0.0081%8h2,752.40.000%$6.37B$16.22B150xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,752.8+0.015%$59.2M$4.35B50xas long as short
Gate ETH_USDT+0.0092%8h2,753.1+0.025%$3.39B$8.90B200xas long as short
Bitget ETHUSDT+0.0094%8h2,752.8+0.016%$2.08B$2.83B150xas long as short
Lighter ETH+0.0096%1h2,752.7+0.011%$113.1M$443.4M50xas long as short
Lighter RH ETH+0.0096%1h2,754.4+0.071%$24.9M$107.1M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,751.8−0.021%—$35.5M500xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,757.8+0.196%$16.3M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,751.5−0.033%$479K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,751.4−0.037%$14.0M$112.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,754.8+0.087%$3.13B$2.10B25xas long as short
Pacifica ETH+0.0100%1h2,753.2+0.029%$31.6M$333.9M50xas long as short
Bybit ETHUSDT+0.0100%8h2,753+0.022%$2.47B$4.33B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,752.6+0.007%$2.8M$16.6M25xas long as short
Arcus ETH-USD+0.0100%1h2,753.3+0.031%$2.8M$16.5M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,751.1−0.049%$15.1M$41.7M50xas long as short
Variational Omni ETH+0.0100%8h2,753.3+0.032%$133.3M$345.8M—as long as short
edgeX ETHUSDC+0.0100%4h2,751.6−0.028%$181.9M$701.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,753.9+0.056%$160.2M$83.2M50xas long as short
StandX ETH-USD+0.0100%1h2,751.2−0.044%$21.3M$67.9M40xas long as short
Vest ETH-PERP+0.0100%1h2,752.7+0.011%—$869K50xas long as short
Polymarket Perps ETH-USDlong+0.0100%1h2,752.4long leg$10.7M$8.6M50x
Bullet ETH-USD+0.0100%1h2,751.6−0.030%$182K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,751.7−0.025%$21K$21K25xas long as short
Derive ETH-PERP+0.0100%1h2,753.4+0.036%$41.8M$29.5M15xas long as short
SunX ETH-USDT+0.0100%8h2,750.8−0.060%$964K$12.4M100xas long as short
SoDEX ETH-USD+0.0100%1h2,751.6−0.029%$54.8M$187.7M40xas long as short
Phemex ETHUSDT+0.0100%8h2,751.6−0.031%$267.5M$66.0M150xas long as short
Bulk ETH-USD+0.0100%1h2,751.8−0.022%$165.7M$300.7M25xas long as short
Aftermath Perps ETHUSD+0.0101%1h2,751.1−0.046%$30K$20K20xas long as short
Extended ETH-USD+0.0104%1h2,752.1−0.012%$30.5M$73.6M50xas long as short
Deribit ETH-PERPETUAL+0.0135%1h2,753.1+0.024%$258.5M$199.9M50xas long as short
Kalshi KXETHPERP+0.0142%8h2,752.5+0.004%$7.8M$675.0M4.9xas long as short
Orderly PERP_ETH_USDC+0.0171%8h2,754.1+0.060%$32.4M$11.1M100xas long as short
Hibachi ETH/USDT-P+0.0208%1h2,751.7−0.024%$250K$1.5M20xas long as short
Injective ETH/USDC PERP+0.0209%1h2,753+0.022%$118K$22.5M52xas long as short
Reya ETHRUSDPERP+0.0220%1h2,751.5−0.031%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0353%1h2,752.5+0.004%$89.5M$316.6M100xas long as short