ETHFI

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0720%/8h= +78.8% APRnext payment +$0.90 per $10,000 · paid last 24h −0.069%

Price spread now: Kraken Futures against Polymarket Perps+0.162%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$1011.008% of the position

Long on Polymarket Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.353%+$35 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.162%, 7d avg −0.014%

Together, before fees+0.262%+$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and Kraken Futures is 0.176% dearer against Polymarket Perps than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.014%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.353% in total (about 18.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.90 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ETHFI-USD	0.6962	0.0100	pay 0.0013% / 1h	8m 12s	$52K	$149K	5x
Short	Kraken Futures PF_ETHFIUSD	0.6973	0.0820	get 0.0102% / 1h	8m 12s	$291K	$283K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee Kraken FuturesbpOrdersPrice spread, now +0.162%Rate

Funding earned: $151.14
Price spread: +0.162% → −0.014%: $17.62
Slippage, 4 orders: −$82.75
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $68.01
Costs to cover: 1.008%
Break-even: 3.9 days

Slippage from Polymarket Perps: live order book, 60 min ago; Kraken Futures: live order book, 29 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 Polymarket Perps live order book, 60 min ago	2.16 bp	12.5 bp −$12	1614.1 bp −$16.1K	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 29 min ago	17.99 bp	46.7 bp −$47	162.9 bp −$1,629	doesn't fit	doesn't fit

ETHFI on 24 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
Deribit ETHFI_USDC-PERPETUAL	−0.0468%	1h	0.6957	−0.072%	$41K	$12K	10x	as long as short
HTX ETHFI-USDT	−0.0411%	4h	0.6953	−0.129%	$83K	$150K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0286%	4h	0.6956	−0.086%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0206%	4h	0.6944	−0.264%	$914K	$785K	—	as long as short
Paradex ETHFI-USD-PERP	−0.0095%	8h	0.6955	−0.096%	$6K	—	5x	as long as short
Bybit ETHFIUSDT	−0.0079%	4h	0.6952	−0.144%	$17.1M	$12.9M	25x	as long as short
Binance ETHFIUSDT	−0.0002%	4h	0.6952	−0.143%	$24.2M	$35.9M	75x	as long as short
MEXC ETHFI_USDT	−0.0002%	4h	0.6954	−0.115%	$15.7M	$4.2M	125x	as long as short
Extended ETHFI-USD	0.0000%	1h	0.6952	−0.142%	$94K	$503K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+3.993%	$321	$51K	5.5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo ETHFI-PERP	+0.0080%	1h	0.6955	−0.106%	$8K	—	3x	as long as short
Lighter ETHFI	+0.0096%	1h	0.6962	+0.006%	$1.1M	$828K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.6962	−0.003%	$16.7M	$8.7M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.6954	−0.109%	$178K	$253K	10x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.6958	−0.057%	$5.1M	$12.6M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.6962	0.000%	$1.7M	$2.0M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.6954	−0.115%	$1.2M	$217K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.6952	−0.144%	$6.1M	$4.7M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.6954	−0.115%	—	$1.2M	—	as long as short
Polymarket Perps ETHFI-USDlong	+0.0100%	1h	0.6962	long leg	$52K	$149K	5x
SunX ETHFI-USDT	+0.0100%	4h	0.6951	−0.158%	$2K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0238%	4h	0.6956	−0.086%	$1.2M	$241K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0272%	1h	0.6990	+0.402%	$32K	$6K	50x	as long as short
Kraken Futures PF_ETHFIUSDshort	+0.0820%	1h	0.6973	+0.162%	$291K	$283K	20x