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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 23:00 UTC−0.0136%/8h= −14.8% APRnext payment −$0.17 per $10,000 · paid last 24h −0.008%
Price spread now: Nado against Reya−0.009%7-day average +0.044% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on ReyaShort on Nado
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.034%−$3 on $10k
Price spread, last 7 days+0.023%+$2 · spread now −0.009%, 7d avg +0.044%
Together, before fees−0.011%+ Points / potential airdropReya: Active · Nado: Active · farm board−$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Nado is 0.053% cheaper against Reya than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.044%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongReya ETHRUSDPERP2,771.80.0195pay 0.0024% / 1h6m 45s$7.4M$1.2M25x
ShortNado ETH-PERP2,771.50.0059get 0.0007% / 1h6m 45s$14.2M$118.1M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Nado against Reya. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$28.48
Price spread: −0.009% → +0.044%
−$5.26
Slippage, 4 orders
no order book: not counted
Fee Reya: 3 bp × 2 orders
−$6
Fee Nado: 3.5 bp × 2 orders
−$7
Net
−$46.73
Costs to cover
0.130%
Break-even
never at this rate
Slippage unknown: Reya: no order-book sample; Nado: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Reya no order-book sample—————
Sell Nado live order book, 2 min ago0.18 bp3.7 bp −$43.7 bp −$374.7 bp −$46713.9 bp −$6,953
Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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−0.0447%43m2,770.6−0.043%$287K$6.9M8.3xas long as short
RISEx ETH/USDC−0.0085%1h2,774.7+0.103%$5.7M$11.8M25xas long as short
Hotstuff ETH-PERP−0.0080%1h2,770.8−0.036%$5K$2K50xas long as short
Injective ETH/USDC PERP−0.0041%1h2,779.6+0.281%$119K$22.5M52xas long as short
01 Exchange ETHUSD−0.0040%1h2,771.2−0.022%$169K$1.2M50xas long as short
dYdX ETH-USD0.0000%1h2,775.2+0.124%$12.7M$45.7M50xas long as short
Phoenix ETH0.0000%1h2,774.7+0.105%$885K$3.7M25xas long as short
Aftermath Perps ETHUSD+0.0001%1h2,773.6+0.066%$29K$22K20xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,772.7+0.034%$22.4M—200xas long as short
BingX ETH-USDT+0.0014%8h2,774.8+0.109%—$1.20B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0017%8h2,774.1+0.083%$1.70B$11.85B100xas long as short
Phemex ETHUSDT+0.0024%8h2,773.1+0.048%$270.0M$68.8M150xas long as short
GMX ETH/USD [ETH-USDC]L +0.0027% / S +0.0009%1h2,772.6+0.029%$12.9M—200xas long as short
Bullet ETH-USD+0.0027%1h2,771.80.000%$181K$1.7M20xas long as short
Aster ETHUSDT+0.0030%8h2,774.5+0.097%$255.8M$995.0M200xas long as short
Deribit ETH-PERPETUAL+0.0039%1h2,773.6+0.064%$258.6M$222.4M50xas long as short
ApeX Omni ETHUSDT+0.0052%1h2,772.6+0.030%$8.7M$32.6M100xas long as short
Binance ETHUSDT+0.0059%8h2,774.8+0.109%$6.44B$17.23B150xas long as short
MEXC ETH_USDT+0.0059%8h2,774.5+0.096%$1.60B$2.68B500xas long as short
Nado ETH-PERPshort+0.0059%1h2,771.5−0.009%$14.2M$118.1M50x
Aevo ETH-PERP+0.0064%1h2,769.4−0.086%$5.0M$636K20xas long as short
SoDEX ETH-USD+0.0064%1h2,772.4+0.022%$55.2M$229.0M40xas long as short
Bitget ETHUSDT+0.0067%8h2,774.9+0.110%$2.10B$3.10B150xas long as short
Gate ETH_USDT+0.0072%8h2,773.8+0.074%$3.29B$9.68B200xas long as short
HTX ETH-USDT+0.0089%8h2,771.3−0.018%$1.08B$1.32B200xas long as short
Bybit ETHUSDT+0.0092%8h2,774.5+0.099%$2.52B$4.62B150xas long as short
Lighter ETH+0.0096%1h2,775.1+0.118%$115.1M$503.2M50xas long as short
Lighter RH ETH+0.0096%1h2,775.8+0.144%$25.4M$121.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,771.9+0.004%—$41.6M500xas long as short
KuCoin ETHUSDTM+0.0096%8h2,774.5+0.097%$421.7M$739.0M100xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,774.3+0.090%$15.9M$10.5M50xas long as short
Vest ETH-PERP+0.0099%1h2,772.2+0.014%—$1.1M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,771.5−0.011%$476K$2.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,776.5+0.170%$3.19B$2.35B25xas long as short
Pacifica ETH+0.0100%1h2,775+0.115%$31.2M$303.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,774.2+0.087%$2.8M$17.1M25xas long as short
Arcus ETH-USD+0.0100%1h2,776.2+0.158%$2.7M$17.6M25xas long as short
Bulk ETH-USD+0.0100%1h2,770.8−0.035%$166.1M$253.0M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,773.8+0.070%$15.1M$44.1M50xas long as short
Variational Omni ETH+0.0100%8h2,770.9−0.034%$144.7M$334.7M—as long as short
edgeX ETHUSDC+0.0100%4h2,771.1−0.025%$181.4M$779.9M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,773.3+0.055%$161.3M$91.0M50xas long as short
StandX ETH-USD+0.0100%1h2,773.1+0.047%$21.4M$58.2M40xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,773.1+0.047%$10.8M$7.6M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,772.4+0.020%$21K$24K25xas long as short
Derive ETH-PERP+0.0100%1h2,774.3+0.090%$42.7M$29.4M15xas long as short
SunX ETH-USDT+0.0100%8h2,770.1−0.062%$971K$14.0M100xas long as short
Extended ETH-USD+0.0104%1h2,773.3+0.053%$32.6M$77.5M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,774+0.080%$59.9M$4.60B50xas long as short
Kalshi KXETHPERP+0.0125%8h2,772.1+0.011%$8.3M$681.6M4.9xas long as short
Orderly PERP_ETH_USDC+0.0136%8h2,774.8+0.110%$32.5M$12.0M100xas long as short
Kraken Futures PF_ETHUSD+0.0170%1h2,773.9+0.077%$86.1M$332.2M100xas long as short
BloFin ETH-USDT+0.0180%8h2,772.7+0.033%$284.7M$194.4M150xas long as short
Reya ETHRUSDPERPlong+0.0195%1h2,771.8long leg$7.4M$1.2M25x
Hibachi ETH/USDT-P+0.0264%1h2,772.7+0.031%$270K$1.5M20xas long as short