Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h −0.080%

Price spread now: Binance against Coinbase International−1.000%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 Binance

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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Binance is 1.000% cheaper against Coinbase International than usual: you would sell low and buy high (−$100 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	0.7154	0.0160	pay 0.0020% / 1h	54m 37s	$31K	$6K	50x
Short	Binance ETHFIUSDT	0.7082	0.0099	get 0.0049% / 4h	2h 54m	$24.7M	$36.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −1.000%Rate

Funding earned: −$12.83
Price spread: −1.000% → 0.000%: −$99.98
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$132.81
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Binance: live order book, 2 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 Binance live order book, 2 min ago	0.71 bp	15.6 bp −$16	41.0 bp −$410	157.7 bp −$15.8K	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	−0.0598%	1h	0.7073	−1.132%	$40K	$13K	10x	as long as short
HTX ETHFI-USDT	−0.0384%	4h	0.7060	−1.314%	$82K	$160K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0212%	4h	0.7072	−1.146%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0021%	4h	0.7074	−1.120%	$1.0M	$721K	—	as long as short
Paradex ETHFI-USD-PERP	+0.0032%	8h	0.7076	−1.087%	$6K	—	5x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.202%	$321	$51K	5.5x	as long as short
Lighter ETHFI	+0.0096%	1h	0.7095	−0.823%	$1.1M	$887K	5x	as long as short
Extended ETHFI-USD	+0.0096%	1h	0.7077	−1.079%	$97K	$389K	10x	as long as short
MEXC ETHFI_USDT	+0.0098%	4h	0.7083	−0.992%	$15.0M	$3.8M	125x	as long as short
Binance ETHFIUSDTshort	+0.0099%	4h	0.7082	−1.000%	$24.7M	$36.6M	75x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ETHFI	+0.0100%	1h	0.7093	−0.854%	$17.8M	$8.5M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7081	−1.027%	$181K	$258K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7079	−1.048%	$17.8M	$12.6M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7083	−0.992%	$5.0M	$12.2M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7084	−0.978%	$1.7M	$2.0M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7083	−0.992%	$1.2M	$259K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7076	−1.090%	$6.0M	$5.5M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7083	−0.992%	—	$1.2M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7072	−1.141%	$70K	$116K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7078	−1.062%	$2K	$1.1M	20x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7071	−1.163%	$8K	—	3x	as long as short
Coinbase International ETHFI-PERP-INTXlong	+0.0160%	1h	0.7154	long leg	$31K	$6K	50x
Kraken Futures PF_ETHFIUSD	+0.0229%	1h	0.7078	−1.059%	$269K	$172K	20x	as long as short
BloFin ETHFI-USDT	+0.0339%	4h	0.7080	−1.034%	$1.2M	$258K	75x	as long as short