Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0826%/8h= −90.4% APRpaid last 24h −0.145%

Price spread now: Deribit against Binance+0.078%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Deribit

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. Deribit is 0.078% dearer against Binance than usual: you sell high and buy low (spread +0.078% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ETHFIUSDT	0.7159	0.0100	pay 0.0050% / 4h	2h 39m	$25.3M	$35.7M	75x
Short	Deribit ETHFI_USDC-PERPETUAL	0.7165	−0.0726	pay 0.0091% / 1h	39m 09s	$42K	$18K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now +0.078%Rate

Funding earned: −$173.46
Price spread: +0.078% → 0.000%: $7.79
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$182.67
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 3 min ago; Deribit: 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 Binance live order book, 3 min ago	0.70 bp	13.4 bp −$13	32.9 bp −$329	174.7 bp −$17.5K	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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-PERPETUALshort	−0.0726%	1h	0.7165	+0.078%	$42K	$18K	10x
Kraken Futures PF_ETHFIUSD	−0.0213%	1h	0.7175	+0.216%	$279K	$131K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0150%	4h	0.7165	+0.078%	$16K	$1K	10x	as long as short
HTX ETHFI-USDT	−0.0006%	4h	0.7180	+0.287%	$83K	$161K	20x	as long as short
Bitget ETHFIUSDT	+0.0016%	4h	0.7158	−0.020%	$6.1M	$5.5M	75x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.126%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERP	+0.0044%	8h	0.7163	+0.054%	$6K	—	5x	as long as short
Variational Omni ETHFI	+0.0079%	4h	0.7192	+0.456%	$1.0M	$714K	—	as long as short
Lighter ETHFI	+0.0096%	1h	0.7165	+0.079%	$1.1M	$889K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7166	+0.096%	$19.4M	$7.6M	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ETHFIUSDT	+0.0100%	4h	0.7169	+0.134%	$183K	$247K	10x	as long as short
Binance ETHFIUSDTlong	+0.0100%	4h	0.7159	long leg	$25.3M	$35.7M	75x
Bybit ETHFIUSDT	+0.0100%	4h	0.7163	+0.050%	$18.4M	$12.4M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7163	+0.050%	$4.9M	$11.9M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7167	+0.106%	$1.7M	$2.0M	75x	as long as short
MEXC ETHFI_USDT	+0.0100%	4h	0.7163	+0.050%	$15.4M	$3.6M	125x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7164	+0.064%	$1.2M	$268K	50x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.7164	+0.064%	—	$25.9M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7180	+0.285%	$56K	$81K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7167	+0.106%	$2K	$1.1M	20x	as long as short
Extended ETHFI-USD	+0.0104%	1h	0.7161	+0.017%	$100K	$488K	10x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7160	+0.008%	$9K	—	3x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0152%	1h	0.7268	+1.517%	$32K	$9K	50x	as long as short
BloFin ETHFI-USDT	+0.0340%	4h	0.7159	−0.006%	$1.3M	$293K	75x	as long as short