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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 02:00 UTC−0.0083%/8h= −9.0% APRnext payment −$0.10 per $10,000 · paid last 24h −0.015%
Price spread now: Phoenix against StandX+0.015%7-day average +0.076% · you sell dearer than you buy
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$190.191% of the position
Long on StandXShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days−0.012%−$1 on $10k
Price spread, last 7 days+0.076%+$8 · spread now +0.015%, 7d avg +0.076%
Together, before fees+0.064%+ Points / potential airdropStandX: Active · farm board+$6 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 0.062% cheaper against StandX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.076%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongStandX ETH-USD2,744.80.0100pay 0.0013% / 1h31m 09s$21.2M$68.0M40x
ShortPhoenix ETH2,745.20.0017get 0.0002% / 1h31m 09s$848K$2.9M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against StandX. 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
−$17.33
Price spread: +0.015% → +0.076%
−$6.16
Slippage, 4 orders
−$4.07
Fee StandX: 4 bp × 2 orders
−$8
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$42.56
Costs to cover
0.191%
Break-even
never at this rate
Slippage from StandX: live order book, 3 min ago; Phoenix: live order book, 3 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 StandX live order book, 3 min ago1.09 bp5.8 bp −$66.4 bp −$647.9 bp −$79516.0 bp −$8,014
Sell Phoenix live order book, 3 min ago0.18 bp3.8 bp −$47.0 bp −$7016.1 bp −$1,608doesn't fit

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
Hotstuff ETH-PERP−0.0080%1h2,745.8+0.036%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,743.1−0.062%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,746.3+0.056%$12.1M—200xas long as short
dYdX ETH-USD0.0000%1h2,745.1+0.011%$10.8M$41.8M50xas long as short
Perpl ETH0.0000%43m2,746.5+0.063%$305K$5.6M8.3xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,746.5+0.061%$22.2M—200xas long as short
Phoenix ETHshort+0.0017%1h2,745.2+0.015%$848K$2.9M25x
01 Exchange ETHUSD+0.0032%1h2,747.2+0.087%$182K$914K50xas long as short
ApeX Omni ETHUSDT+0.0046%1h2,741.3−0.127%$8.9M$30.9M100xas long as short
BingX ETH-USDT+0.0052%8h2,746.1+0.048%—$1.15B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0065%8h2,747.3+0.089%$1.70B$10.59B100xas long as short
KuCoin ETHUSDTM+0.0065%8h2,747.4+0.094%$383.7M$578.3M100xas long as short
RISEx ETH/USDC+0.0077%1h2,746.9+0.076%$5.7M$11.2M25xas long as short
Bullet ETH-USD+0.0081%1h2,745.9+0.041%$182K$1.7M20xas long as short
Aster ETHUSDT+0.0083%8h2,746.4+0.057%$252.5M$841.0M200xas long as short
Aevo ETH-PERP+0.0088%1h2,743.9−0.032%$4.9M$155K20xas long as short
MEXC ETH_USDT+0.0091%8h2,747.3+0.090%$1.56B$2.54B500xas long as short
Binance ETHUSDT+0.0091%8h2,747.2+0.087%$6.39B$15.68B150xas long as short
Lighter ETH+0.0096%1h2,747.2+0.086%$112.8M$433.7M50xas long as short
Lighter RH ETH+0.0096%1h2,748.6+0.138%$24.7M$103.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,745.3+0.020%—$30.7M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,748.2+0.124%$58.8M$4.28B50xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,750.6+0.213%$16.0M$7.9M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,745.8+0.036%$469K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,746.6+0.067%$13.9M$105.4M50xas long as short
Hyperliquid ETH+0.0100%1h2,748.5+0.135%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,746.3+0.053%$31.7M$335.1M50xas long as short
Bybit ETHUSDT+0.0100%8h2,747.4+0.094%$2.46B$4.17B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,745.8+0.036%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,746.8+0.073%$2.7M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,741.5−0.119%$164.1M$300.8M25xas long as short
Gate ETH_USDT+0.0100%8h2,746.3+0.055%$3.39B$8.73B200xas long as short
Bitget ETHUSDT+0.0100%8h2,747.3+0.091%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,743.8−0.036%$15.0M$40.9M50xas long as short
Variational Omni ETH+0.0100%8h2,740.7−0.150%$132.6M$333.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,743.5−0.047%$182.3M$691.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,744.9+0.004%$159.6M$84.1M50xas long as short
StandX ETH-USDlong+0.0100%1h2,744.8long leg$21.2M$68.0M40x
Vest ETH-PERP+0.0100%1h2,746.8+0.074%—$819K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,747.4+0.095%$11.0M$8.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,746.4+0.059%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,748.2+0.123%$41.6M$29.6M15xas long as short
SunX ETH-USDT+0.0100%8h2,745.4+0.021%$963K$11.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,746.8+0.073%$54.7M$187.5M40xas long as short
HTX ETH-USDT+0.0100%8h2,746.4+0.058%$1.06B$1.18B200xas long as short
Phemex ETHUSDT+0.0100%8h2,746.8+0.073%$267.1M$65.0M150xas long as short
Extended ETH-USD+0.0104%1h2,746+0.044%$30.6M$72.3M50xas long as short
Aftermath Perps ETHUSD+0.0131%1h2,743.5−0.049%$30K$20K20xas long as short
Deribit ETH-PERPETUAL+0.0140%1h2,748.1+0.121%$258.7M$196.0M50xas long as short
Kalshi KXETHPERP+0.0159%8h2,746.8+0.073%$7.5M$669.8M4.9xas long as short
Orderly PERP_ETH_USDC+0.0190%8h2,748.5+0.134%$32.3M$11.3M100xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,747.8+0.109%$87.0M$310.1M100xas long as short
Reya ETHRUSDPERP+0.0227%1h2,745.7+0.033%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,746.5+0.063%$252K$1.4M20xas long as short
BloFin ETH-USDT+0.0330%8h2,746.8+0.073%$285.3M$182.2M150xas long as short