Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0524%/8h= +57.4% APRpaid last 24h +0.086%

Price spread now: Coinbase International against Bitget+0.325%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Coinbase International

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 for this trade now. Funding pays +$16 a day on $10k at the current rate, and Coinbase International is 0.325% dearer against Bitget than usual: you sell high and buy low: +$33 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ETHFIUSDT	0.7072	0.0100	pay 0.0050% / 4h	54m 46s	$6.1M	$5.2M	75x
Short	Coinbase International ETHFI-PERP-INTX	0.7095	0.0624	get 0.0078% / 1h	54m 46s	$31K	$6K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now +0.325%Rate

Funding earned: $110.04
Price spread: +0.325% → 0.000%: $32.52
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $120.56
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Bitget: live order book, 3 min ago; Coinbase International: 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 Bitget live order book, 3 min ago	2.83 bp	14.4 bp −$14	32.0 bp −$320	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.0739%	1h	0.7072	0.000%	$40K	$12K	10x	as long as short
Orderly PERP_ETHFI_USDC	−0.0208%	4h	0.7070	−0.028%	$16K	$1K	10x	as long as short
HTX ETHFI-USDT	−0.0068%	4h	0.7059	−0.184%	$87K	$168K	20x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+2.376%	$321	$51K	5.5x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0044%	1h	0.7081	+0.121%	$263K	$212K	20x	as long as short
Paradex ETHFI-USD-PERP	+0.0071%	8h	0.7070	−0.035%	$6K	—	5x	as long as short
Lighter ETHFI	+0.0096%	1h	0.7082	+0.144%	$1.1M	$878K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7080	+0.110%	$17.6M	$7.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7076	+0.057%	$181K	$256K	10x	as long as short
Binance ETHFIUSDT	+0.0100%	4h	0.7070	−0.023%	$24.6M	$35.5M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHFIUSDT	+0.0100%	4h	0.7075	+0.042%	$17.7M	$12.5M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7076	+0.057%	$5.0M	$12.2M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7078	+0.085%	$1.7M	$1.9M	75x	as long as short
MEXC ETHFI_USDT	+0.0100%	4h	0.7072	0.000%	$15.8M	$3.9M	125x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7074	+0.028%	$1.2M	$241K	50x	as long as short
Bitget ETHFIUSDTlong	+0.0100%	4h	0.7072	long leg	$6.1M	$5.2M	75x
BingX ETHFI-USDT	+0.0100%	4h	0.7076	+0.057%	—	$26.0M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7085	+0.189%	$1.0M	$703K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7090	+0.253%	$70K	$118K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7081	+0.127%	$2K	$1.1M	20x	as long as short
Extended ETHFI-USD	+0.0104%	1h	0.7071	−0.009%	$96K	$378K	10x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7070	−0.028%	$8K	—	3x	as long as short
BloFin ETHFI-USDT	+0.0340%	4h	0.7068	−0.057%	$1.2M	$245K	75x	as long as short
Coinbase International ETHFI-PERP-INTXshort	+0.0624%	1h	0.7095	+0.325%	$31K	$6K	50x