Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.015%

Price spread now: Variational Omni against Aevo+0.527%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.527% dearer against Aevo than usual: you sell high and buy low (spread +0.527% now, against zero (this spread has no 7-day history yet)): +$53 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ETHFI-PERP	0.7165	0.0104	pay 0.0013% / 1h	9m 18s	$9K	—	3x
Short	Variational Omni ETHFI	0.7203	0.0012	get 0.0006% / 4h	2h 09m	$1.1M	$717K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.527%Rate

Funding earned: −$19.41
Price spread: +0.527% → 0.000%: $52.67
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $17.26
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Aevo: no order-book sample; Variational Omni: RFQ quote, 5 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 Variational Omni RFQ quote, 5 min ago	4.85 bp	doesn't fit	43.7 bp −$437	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 23 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	−0.0447%	1h	0.7168	+0.042%	$41K	$13K	10x	as long as short
Orderly PERP_ETHFI_USDC	−0.0203%	4h	0.7164	−0.014%	$16K	$1K	10x	as long as short
HTX ETHFI-USDT	−0.0137%	4h	0.7167	+0.028%	$88K	$168K	20x	as long as short
Variational Omni ETHFIshort	+0.0012%	4h	0.7203	+0.527%	$1.1M	$717K	—
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.047%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERP	+0.0060%	8h	0.7167	+0.028%	$6K	—	5x	as long as short
Lighter ETHFI	+0.0096%	1h	0.7174	+0.130%	$1.1M	$888K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7175	+0.135%	$18.0M	$8.0M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7173	+0.109%	$183K	$258K	10x	as long as short
Binance ETHFIUSDT	+0.0100%	4h	0.7162	−0.045%	$24.9M	$36.0M	75x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHFIUSDT	+0.0100%	4h	0.7165	0.000%	$18.0M	$12.6M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7174	+0.126%	$5.0M	$12.3M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7169	+0.056%	$1.7M	$2.0M	75x	as long as short
MEXC ETHFI_USDT	+0.0100%	4h	0.7162	−0.042%	$15.5M	$4.0M	125x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7164	−0.014%	$1.2M	$256K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7169	+0.056%	$6.1M	$5.3M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7168	+0.042%	—	$1.2M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7183	+0.250%	$71K	$118K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7167	+0.028%	$1K	$1.1M	20x	as long as short
Extended ETHFI-USD	+0.0104%	1h	0.7161	−0.053%	$97K	$376K	10x	as long as short
Aevo ETHFI-PERPlong	+0.0104%	1h	0.7165	long leg	$9K	—	3x
Coinbase International ETHFI-PERP-INTX	+0.0160%	1h	0.7253	+1.228%	$32K	$6K	50x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0226%	1h	0.7178	+0.178%	$275K	$186K	20x	as long as short