Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.031%

Price spread now: Injective against Aster+1.252%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Injective

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Injective is 1.252% dearer against Aster than usual: you sell high and buy low (spread +1.252% now, against zero (this spread has no 7-day history yet)): +$125 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ETHFIUSDT	0.7151	0.0100	pay 0.0050% / 4h	2h 17m	$183K	$255K	10x
Short	Injective ETHFI/USDC PERP	0.7240	0.0033	get 0.0004% / 1h	17m 12s	$321	$51K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. 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 AsterbpFee InjectivebpOrdersPrice spread, now +1.252%Rate

Funding earned: −$14
Price spread: +1.252% → 0.000%: $125.16
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $103.14
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Aster: live order book, 4 min ago; Injective: 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 Aster live order book, 4 min ago	7.69 bp	45.5 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0728%	1h	0.7151	+0.007%	$42K	$18K	10x	as long as short
Kraken Futures PF_ETHFIUSD	−0.0213%	1h	0.7160	+0.127%	$282K	$144K	20x	as long as short
HTX ETHFI-USDT	−0.0199%	4h	0.7125	−0.357%	$83K	$165K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0172%	4h	0.7148	−0.035%	$16K	$1K	10x	as long as short
Injective ETHFI/USDC PERPshort	+0.0033%	1h	0.7240	+1.252%	$321	$51K	5.5x
Paradex ETHFI-USD-PERP	+0.0039%	8h	0.7148	−0.034%	$6K	—	5x	as long as short
Bitget ETHFIUSDT	+0.0042%	4h	0.7149	−0.021%	$6.1M	$5.6M	75x	as long as short
MEXC ETHFI_USDT	+0.0086%	4h	0.7147	−0.049%	$15.2M	$3.8M	125x	as long as short
Extended ETHFI-USD	+0.0088%	1h	0.7146	−0.062%	$92K	$495K	10x	as long as short
Binance ETHFIUSDT	+0.0088%	4h	0.7147	−0.049%	$24.9M	$36.9M	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	0.7153	+0.036%	$1.1M	$909K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7154	+0.049%	$18.3M	$8.8M	5x	as long as short
Aster ETHFIUSDTlong	+0.0100%	4h	0.7151	long leg	$183K	$255K	10x
Bybit ETHFIUSDT	+0.0100%	4h	0.7150	−0.007%	$18.3M	$12.7M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7150	−0.007%	$4.9M	$12.4M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7152	+0.021%	$1.7M	$2.1M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7149	−0.021%	$1.2M	$270K	50x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.7150	−0.007%	—	$25.9M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7150	−0.013%	$1.0M	$722K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7153	+0.032%	$60K	$85K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7153	+0.035%	$1K	$1.1M	20x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7146	−0.067%	$9K	—	3x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0152%	1h	0.7157	+0.091%	$31K	$9K	50x	as long as short
BloFin ETHFI-USDT	+0.0328%	4h	0.7145	−0.077%	$1.3M	$295K	75x	as long as short