Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0307%/8h= −33.6% APRpaid last 24h −0.004%

Price spread now: Bybit against Aevo−0.109%49s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Bybit is 0.109% cheaper against Aevo than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ETHFI-PERP	0.6917	0.0080	pay 0.0010% / 1h	39m 27s	$8K	—	3x
Short	Bybit ETHFIUSDT	0.6909	−0.0227	pay 0.0114% / 4h	2h 39m	$17.2M	$12.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aevo. 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 AevobpFee BybitbpOrdersPrice spread, now −0.109%Rate

Funding earned: −$64.49
Price spread: −0.109% → 0.000%: −$10.86
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$102.34
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Bybit: live order book, 4 min ago. Net counts fees only.

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 Aevo no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	1.44 bp	17.5 bp −$18	43.3 bp −$433	doesn't fit	doesn't fit

Aevo: 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.

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	−0.0473%	1h	0.6912	−0.065%	$39K	$10K	10x	as long as short
Kraken Futures PF_ETHFIUSD	−0.0413%	1h	0.6930	+0.195%	$277K	$263K	20x	as long as short
HTX ETHFI-USDT	−0.0398%	4h	0.6907	−0.137%	$80K	$183K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0261%	4h	0.6907	−0.137%	$16K	$1K	10x	as long as short
Bybit ETHFIUSDTshort	−0.0227%	4h	0.6909	−0.109%	$17.2M	$12.8M	25x
Variational Omni ETHFI	−0.0092%	4h	0.6932	+0.230%	$947K	$722K	—	as long as short
Binance ETHFIUSDT	−0.0022%	4h	0.6906	−0.152%	$23.9M	$35.5M	75x	as long as short
Extended ETHFI-USD	−0.0016%	1h	0.6903	−0.192%	$94K	$506K	10x	as long as short
MEXC ETHFI_USDT	−0.0014%	4h	0.6904	−0.181%	$15.6M	$4.1M	125x	as long as short
Aster ETHFIUSDT	−0.0009%	4h	0.6917	+0.011%	$177K	$260K	10x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ETHFI-USD-PERP	+0.0007%	8h	0.6907	−0.144%	$6K	—	5x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+4.677%	$321	$51K	5.5x	as long as short
Aevo ETHFI-PERPlong	+0.0080%	1h	0.6917	long leg	$8K	—	3x
Lighter ETHFI	+0.0096%	1h	0.6915	−0.015%	$1.1M	$830K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.6914	−0.042%	$16.8M	$8.4M	5x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.6914	−0.036%	$5.0M	$12.3M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.6911	−0.080%	$1.7M	$2.0M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.6910	−0.094%	$1.2M	$232K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.6912	−0.065%	$6.0M	$5.3M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.6911	−0.080%	—	$1.2M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.6908	−0.120%	$62K	$126K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.6919	+0.036%	$1K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0226%	4h	0.6933	+0.238%	$1.2M	$236K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0376%	1h	0.7054	+1.988%	$31K	$5K	50x	as long as short