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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 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%
Price spread now: Bybit against Variational Omni−0.062%7-day average −0.006% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on Variational OmniShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.015%−$1 on $10k
Price spread, last 7 days+0.077%+$8 · spread now −0.062%, 7d avg −0.006%
Together, before fees+0.062%+ Points / potential airdropVariational Omni: Active · farm board+$6 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.056% cheaper against Variational Omni than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.006%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni ETH2,740.40.0100pay 0.0100% / 8h5h 41m$132.4M$336.6M—
ShortBybit ETHUSDT2,738.70.0100get 0.0100% / 8h5h 41m$2.45B$4.18B150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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
$0
Price spread: −0.062% → −0.006%
−$5.63
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$16.63
Costs to cover
0.110%
Break-even
never at this rate
Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Bybit: live order book, 3 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 Variational Omni RFQ quote, 3 min ago0.55 bpdoesn't fit0.5 bp −$53.8 bp −$379doesn't fit
Sell Bybit live order book, 3 min ago0.02 bp5.5 bp −$65.5 bp −$557.1 bp −$70810.2 bp −$5,101

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−0.0112%43m2,743.9+0.130%$305K$5.6M8.3xas long as short
Hotstuff ETH-PERP−0.0080%1h2,740−0.014%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0044%1h2,743.1+0.099%$118K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,745+0.167%$12.1M—200xas long as short
dYdX ETH-USD0.0000%1h2,739.2−0.045%$10.8M$41.8M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,745+0.167%$22.2M—200xas long as short
Phoenix ETH+0.0017%1h2,740.6+0.008%$845K$2.9M25xas long as short
01 Exchange ETHUSD+0.0040%1h2,738.3−0.076%$182K$916K50xas long as short
BingX ETH-USDT+0.0047%8h2,738.7−0.063%—$1.15B—as long as short
OKX ETH-USDT-SWAP+0.0062%8h2,737.9−0.091%$1.70B$10.56B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin ETHUSDTM+0.0063%8h2,738.8−0.059%$383.2M$597.9M100xas long as short
RISEx ETH/USDC+0.0077%1h2,738.3−0.076%$5.6M$11.2M25xas long as short
Aster ETHUSDT+0.0081%8h2,739.1−0.046%$251.9M$841.2M200xas long as short
Aevo ETH-PERP+0.0088%1h2,741.7+0.048%$4.9M$159K20xas long as short
MEXC ETH_USDT+0.0089%8h2,738.1−0.082%$1.56B$2.53B500xas long as short
Binance ETHUSDT+0.0089%8h2,738−0.089%$6.36B$15.71B150xas long as short
Bullet ETH-USD+0.0090%1h2,744.5+0.151%$183K$1.7M20xas long as short
Lighter ETH+0.0096%1h2,739.2−0.043%$112.6M$432.2M50xas long as short
Lighter RH ETH+0.0096%1h2,740.6+0.008%$24.6M$103.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,743.6+0.119%—$30.9M500xas long as short
Coinbase International ETH-PERP-INTX+0.0096%1h2,746+0.205%$59.0M$4.28B50xas long as short
HTX ETH-USDT+0.0096%8h2,744+0.132%$1.06B$1.18B200xas long as short
Paradex ETH-USD-PERP+0.0100%8h2,741.5+0.042%$16.0M$8.0M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,738.5−0.069%$467K$3.0M50xas long as short
Nado ETH-PERP+0.0100%1h2,738.2−0.081%$13.9M$106.2M50xas long as short
Hyperliquid ETH+0.0100%1h2,740.9+0.019%$3.12B$2.06B25xas long as short
Pacifica ETH+0.0100%1h2,739.3−0.040%$31.6M$334.0M50xas long as short
Bybit ETHUSDTshort+0.0100%8h2,738.7−0.062%$2.45B$4.18B150x
Ondo Perps ETH-USD.P+0.0100%1h2,738.4−0.072%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,739.1−0.048%$2.7M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,743.5+0.115%$165.1M$304.9M25xas long as short
Gate ETH_USDT+0.0100%8h2,738.9−0.055%$3.39B$8.70B200xas long as short
Bitget ETHUSDT+0.0100%8h2,738.6−0.066%$2.08B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,743.3+0.107%$15.0M$40.9M50xas long as short
Variational Omni ETHlong+0.0100%8h2,740.4long leg$132.4M$336.6M—
edgeX ETHUSDC+0.0100%4h2,742.3+0.070%$182.2M$689.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,743.5+0.114%$159.5M$82.5M50xas long as short
ApeX Omni ETHUSDT+0.0100%1h2,742.5+0.075%$8.9M$31.0M100xas long as short
StandX ETH-USD+0.0100%1h2,744.7+0.157%$21.2M$69.0M40xas long as short
Vest ETH-PERP+0.0100%1h2,740.2−0.006%—$819K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,745.8+0.198%$11.0M$8.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,744.5+0.150%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,746.5+0.225%$41.6M$29.5M15xas long as short
SunX ETH-USDT+0.0100%8h2,743.9+0.128%$962K$11.5M100xas long as short
SoDEX ETH-USD+0.0100%1h2,744.8+0.161%$54.7M$187.5M40xas long as short
Phemex ETHUSDT+0.0100%8h2,744.3+0.144%$267.0M$65.0M150xas long as short
Extended ETH-USD+0.0104%1h2,738.1−0.083%$30.6M$72.4M50xas long as short
Aftermath Perps ETHUSD+0.0133%1h2,743.6+0.118%$30K$20K20xas long as short
Kalshi KXETHPERP+0.0154%8h2,745+0.168%$7.7M$668.4M4.9xas long as short
Deribit ETH-PERPETUAL+0.0176%1h2,746.2+0.210%$258.8M$195.8M50xas long as short
Orderly PERP_ETH_USDC+0.0188%8h2,746.6+0.228%$32.3M$11.3M100xas long as short
BloFin ETH-USDT+0.0209%8h2,743+0.097%$286.0M$177.5M150xas long as short
Kraken Futures PF_ETHUSD+0.0221%1h2,745.6+0.192%$87.3M$310.4M100xas long as short
Reya ETHRUSDPERP+0.0225%1h2,744.3+0.141%$7.3M$1.1M25xas long as short
Hibachi ETH/USDT-P+0.0248%1h2,742.4+0.074%$249K$1.4M20xas long as short