ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0027%/8h= −3.0% APRnext payment −$0.03 per $10,000 · paid last 24h −0.009%

Price spread now: Phoenix against RISEx−0.148%7-day average +0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$190.191% of the position

Long on RISEx Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.036%−$4 on $10k

Price spread, last 7 days+0.214%+$21 · spread now −0.148%, 7d avg +0.088%

Together, before fees+0.178%+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.236% cheaper against RISEx than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of +0.088%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ETH/USDC	2,774.9	−0.0005	get 0.0001% / 1h	41m 07s	$5.8M	$12.0M	25x
Short	Phoenix ETH	2,770.8	−0.0032	pay 0.0004% / 1h	41m 07s	$849K	$3.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against RISEx. 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 RISExbpFee PhoenixbpOrdersPrice spread, now −0.148%Rate

Funding earned: −$5.74
Price spread: −0.148% → +0.088%: −$23.62
Slippage, 4 orders: −$6.05
Fee RISEx: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$48.42
Costs to cover: 0.191%
Break-even: never at this rate

Slippage from RISEx: live order book, 4 min ago; Phoenix: live order book, 12 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 RISEx live order book, 4 min ago	0.05 bp	3.1 bp −$3	4.3 bp −$43	285.2 bp −$28.5K	doesn't fit
Sell Phoenix live order book, 12 min ago	0.18 bp	5.3 bp −$5	8.8 bp −$88	17.1 bp −$1,707	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	−0.0112%	43m	2,775.6	+0.024%	$270K	$6.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,771.2	−0.133%	$5K	$2K	50x	as long as short
Phoenix ETHshort	−0.0032%	1h	2,770.8	−0.148%	$849K	$3.5M	25x
Phemex ETHUSDT	−0.0009%	8h	2,775.5	+0.020%	$268.4M	$64.5M	150x	as long as short
RISEx ETH/USDClong	−0.0005%	1h	2,774.9	long leg	$5.8M	$12.0M	25x
dYdX ETH-USD	0.0000%	1h	2,776.6	+0.061%	$13.6M	$41.9M	50x	as long as short
Injective ETH/USDC PERP	+0.0003%	1h	2,772.8	−0.076%	$119K	$22.5M	52x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,775.8	+0.032%	$22.5M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0013%	8h	2,780.7	+0.208%	$1.74B	$11.51B	100x	as long as short
Deribit ETH-PERPETUAL	+0.0017%	1h	2,776.9	+0.073%	$258.2M	$212.3M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk ETH-USD	+0.0022%	1h	2,771.6	−0.117%	$165.0M	$263.9M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0024% / S +0.0012%	1h	2,775.8	+0.033%	$12.7M	—	200x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,776.1	+0.043%	$180K	$1.2M	50x	as long as short
SoDEX ETH-USD	+0.0033%	1h	2,774.9	0.000%	$56.0M	$184.4M	40x	as long as short
MEXC ETH_USDT	+0.0038%	8h	2,776.7	+0.066%	$1.62B	$2.48B	500x	as long as short
Binance ETHUSDT	+0.0039%	8h	2,777.7	+0.099%	$6.60B	$16.46B	150x	as long as short
Aevo ETH-PERP	+0.0040%	1h	2,773.1	−0.066%	$5.0M	$651K	20x	as long as short
Gate ETH_USDT	+0.0046%	8h	2,776.8	+0.069%	$3.37B	$9.26B	200x	as long as short
Bullet ETH-USD	+0.0047%	1h	2,774.8	−0.005%	$206K	$1.8M	20x	as long as short
ApeX Omni ETHUSDT	+0.0050%	1h	2,770.9	−0.145%	$8.4M	$28.8M	100x	as long as short
Aster ETHUSDT	+0.0060%	8h	2,776.6	+0.060%	$269.5M	$952.0M	200x	as long as short
Aftermath Perps ETHUSD	+0.0065%	1h	2,772	−0.104%	$29K	$20K	20x	as long as short
Bitget ETHUSDT	+0.0067%	8h	2,776.9	+0.072%	$2.10B	$3.03B	150x	as long as short
HTX ETH-USDT	+0.0089%	8h	2,775.6	+0.026%	$1.08B	$1.25B	200x	as long as short
Variational Omni ETH	+0.0089%	8h	2,771.7	−0.114%	$141.0M	$306.6M	—	as long as short
Lighter ETH	+0.0096%	1h	2,776.9	+0.071%	$115.8M	$498.0M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,778.6	+0.133%	$25.7M	$122.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,775.9	+0.035%	—	$44.3M	500x	as long as short
KuCoin ETHUSDTM	+0.0098%	8h	2,774.7	−0.007%	$398.7M	$721.8M	100x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,780.2	+0.189%	$16.1M	$10.7M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,774.9	0.000%	$478K	$2.6M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,774.5	−0.013%	$17.4M	$113.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,779.7	+0.173%	$3.26B	$2.23B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,776.3	+0.051%	$31.4M	$269.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,780.4	+0.199%	$2.54B	$4.47B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,774.1	−0.029%	$2.9M	$15.5M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,776.1	+0.042%	$2.8M	$16.9M	25x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,776.8	+0.068%	—	$17.0M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,777.2	+0.082%	$15.4M	$42.0M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,770.6	−0.154%	$180.3M	$752.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.4	−0.125%	$161.2M	$96.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,772.8	−0.076%	$21.4M	$57.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,775	+0.003%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,776.9	+0.072%	$11.4M	$7.1M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,776.2	+0.048%	$21K	$25K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,774.5	−0.014%	$973K	$14.2M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,775.1	+0.006%	$31.6M	$75.2M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,777.7	+0.099%	$60.0M	$4.60B	50x	as long as short
Kalshi KXETHPERP	+0.0105%	8h	2,776.5	+0.058%	$8.4M	$654.2M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0110%	8h	2,777.5	+0.092%	$32.6M	$11.2M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0135%	1h	2,776.6	+0.060%	$86.3M	$323.9M	100x	as long as short
Hibachi ETH/USDT-P	+0.0144%	1h	2,773.1	−0.065%	$261K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0155%	8h	2,774.9	0.000%	$292.7M	$188.3M	150x	as long as short
Derive ETH-PERP	+0.0173%	1h	2,778	+0.113%	$43.0M	$29.2M	15x	as long as short
Reya ETHRUSDPERP	+0.0215%	1h	2,773.8	−0.039%	$7.5M	$979K	25x	as long as short