Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0270%/8h= −29.6% APRpaid last 24h −0.078%

Price spread now: MEXC against Coinbase International−0.824%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 MEXC

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 −$8 a day on $10k at the current rate, and MEXC is 0.824% cheaper against Coinbase International than usual: you would sell low and buy high (−$82 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	0.7040	0.0328	pay 0.0041% / 1h	21m 24s	$32K	$5K	50x
Short	MEXC ETHFI_USDT	0.6982	0.0058	get 0.0029% / 4h	2h 21m	$15.7M	$4.2M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.824%Rate

Funding earned: −$56.7
Price spread: −0.824% → 0.000%: −$82.39
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$153.09
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; MEXC: live order book, 5 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 MEXC live order book, 5 min ago	0.71 bp	16.0 bp −$16	20.1 bp −$201	75.6 bp −$7,562	172.8 bp −$86.4K

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 exchanges

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	−0.0753%	1h	0.6975	−0.923%	$42K	$13K	10x	as long as short
Orderly PERP_ETHFI_USDC	−0.0303%	4h	0.6975	−0.923%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0199%	4h	0.6991	−0.695%	$932K	$752K	—	as long as short
HTX ETHFI-USDT	−0.0028%	4h	0.6983	−0.810%	$83K	$135K	20x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+2.841%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERP	+0.0047%	8h	0.6981	−0.842%	$6K	—	5x	as long as short
Extended ETHFI-USD	+0.0056%	1h	0.6974	−0.943%	$106K	$500K	10x	as long as short
MEXC ETHFI_USDTshort	+0.0058%	4h	0.6982	−0.824%	$15.7M	$4.2M	125x
Binance ETHFIUSDT	+0.0060%	4h	0.6976	−0.913%	$24.4M	$33.4M	75x	as long as short
Lighter ETHFI	+0.0096%	1h	0.6994	−0.651%	$1.1M	$729K	5x	as long as short

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo ETHFI-PERP	+0.0096%	1h	0.6972	−0.961%	$8K	—	3x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.6991	−0.692%	$16.8M	$8.1M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.6985	−0.781%	$179K	$181K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.6979	−0.866%	$17.2M	$12.2M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.6982	−0.824%	$5.1M	$12.5M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.6983	−0.810%	$1.7M	$1.8M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.6984	−0.795%	$1.2M	$191K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.6979	−0.866%	$6.2M	$3.9M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.6983	−0.810%	—	$1.2M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.6992	−0.689%	$53K	$148K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.6991	−0.696%	$1K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0237%	4h	0.6979	−0.866%	$1.2M	$235K	75x	as long as short
Coinbase International ETHFI-PERP-INTXlong	+0.0328%	1h	0.7040	long leg	$32K	$5K	50x
Kraken Futures PF_ETHFIUSD	+0.1000%	1h	0.6995	−0.638%	$299K	$298K	20x	as long as short