Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0248%/8h= −27.1% APRpaid last 24h −0.068%

Price spread now: Aster against Coinbase International−0.542%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Aster

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

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Aster is 0.542% cheaper against Coinbase International than usual: you would sell low and buy high (−$54 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ETHFI-PERP-INTX	0.7020	0.0336	pay 0.0042% / 1h	40m 13s	$32K	$6K	50x
Short	Aster ETHFIUSDT	0.6982	0.0088	get 0.0044% / 4h	3h 40m	$179K	$230K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now −0.542%Rate

Funding earned: −$52
Price spread: −0.542% → 0.000%: −$54.19
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$124.19
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Aster: live order book, 57 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Aster live order book, 57 min ago	4.33 bp	20.2 bp −$20	doesn't fit	doesn't fit	doesn't fit

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	−0.0467%	1h	0.6972	−0.684%	$41K	$12K	10x	as long as short
Bybit ETHFIUSDT	−0.0313%	4h	0.6976	−0.627%	$17.1M	$13.0M	25x	as long as short
Orderly PERP_ETHFI_USDC	−0.0279%	4h	0.6969	−0.726%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0273%	4h	0.6973	−0.665%	$929K	$795K	—	as long as short
HTX ETHFI-USDT	−0.0231%	4h	0.6963	−0.812%	$83K	$149K	20x	as long as short
Paradex ETHFI-USD-PERP	−0.0110%	8h	0.6969	−0.723%	$6K	—	5x	as long as short
MEXC ETHFI_USDT	+0.0012%	4h	0.6972	−0.684%	$15.8M	$4.1M	125x	as long as short
Binance ETHFIUSDT	+0.0014%	4h	0.6972	−0.684%	$24.4M	$36.1M	75x	as long as short
Extended ETHFI-USD	+0.0016%	1h	0.6966	−0.768%	$95K	$505K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+3.134%	$321	$51K	5.5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin ETHFI-USDT	+0.0055%	4h	0.6982	−0.541%	$1.2M	$233K	75x	as long as short
Aevo ETHFI-PERP	+0.0080%	1h	0.6968	−0.740%	$8K	—	3x	as long as short
Aster ETHFIUSDTshort	+0.0088%	4h	0.6982	−0.542%	$179K	$230K	10x
Lighter ETHFI	+0.0096%	1h	0.6984	−0.507%	$1.1M	$828K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.6982	−0.548%	$16.7M	$8.7M	5x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.6977	−0.613%	$5.1M	$12.7M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.6978	−0.598%	$1.7M	$1.9M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.6979	−0.584%	$1.2M	$215K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.6973	−0.670%	$6.1M	$4.7M	75x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.6974	−0.655%	—	$10.7M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.6973	−0.670%	$52K	$149K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.6982	−0.541%	$2K	$1.1M	20x	as long as short
Coinbase International ETHFI-PERP-INTXlong	+0.0336%	1h	0.7020	long leg	$32K	$6K	50x
Kraken Futures PF_ETHFIUSD	+0.0865%	1h	0.6988	−0.459%	$294K	$287K	20x	as long as short