Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0277%/8h= −30.3% APRpaid last 24h −0.054%

Price spread now: Orderly against Aevo+0.113%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Orderly

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

The price spread pays, funding is against you. Orderly is 0.113% dearer against Aevo than usual: you sell high and buy low (spread +0.113% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ETHFI-PERP	0.7127	0.0104	pay 0.0013% / 1h	54m 11s	$8K	—	3x
Short	Orderly PERP_ETHFI_USDC	0.7135	−0.0173	pay 0.0087% / 4h	1h 54m	$16K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.113%Rate

Funding earned: −$58.2
Price spread: +0.113% → 0.000%: $11.25
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$68.95
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Aevo and Orderly: 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	−0.0590%	1h	0.7137	+0.141%	$42K	$18K	10x	as long as short
Kraken Futures PF_ETHFIUSD	−0.0253%	1h	0.7150	+0.318%	$281K	$145K	20x	as long as short
HTX ETHFI-USDT	−0.0200%	4h	0.7120	−0.098%	$83K	$165K	20x	as long as short
Orderly PERP_ETHFI_USDCshort	−0.0173%	4h	0.7135	+0.113%	$16K	$1K	10x
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.586%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERP	+0.0041%	8h	0.7137	+0.134%	$6K	—	5x	as long as short
Bitget ETHFIUSDT	+0.0060%	4h	0.7138	+0.155%	$6.1M	$5.7M	75x	as long as short
MEXC ETHFI_USDT	+0.0078%	4h	0.7129	+0.028%	$15.2M	$3.8M	125x	as long as short
Extended ETHFI-USD	+0.0080%	1h	0.7131	+0.062%	$92K	$495K	10x	as long as short
Binance ETHFIUSDT	+0.0081%	4h	0.7130	+0.042%	$24.8M	$37.1M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter ETHFI	+0.0096%	1h	0.7137	+0.148%	$1.1M	$898K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7143	+0.228%	$18.1M	$8.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7141	+0.196%	$182K	$256K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7136	+0.127%	$18.2M	$12.9M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7131	+0.056%	$4.9M	$12.5M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7143	+0.225%	$1.7M	$2.0M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7139	+0.169%	$1.2M	$270K	50x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7139	+0.169%	—	$1.2M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7124	−0.043%	$1.0M	$746K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7138	+0.162%	$60K	$85K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7142	+0.211%	$2K	$1.1M	20x	as long as short
Aevo ETHFI-PERPlong	+0.0104%	1h	0.7127	long leg	$8K	—	3x
Coinbase International ETHFI-PERP-INTX	+0.0304%	1h	0.7147	+0.281%	$31K	$8K	50x	as long as short
BloFin ETHFI-USDT	+0.0312%	4h	0.7135	+0.113%	$1.3M	$292K	75x	as long as short