Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0230%/8h= −25.1% APRpaid last 24h −0.053%

Price spread now: Orderly against Extended+0.053%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Orderly

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 airdropExtended: Active · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.053% dearer against Extended than usual: you sell high and buy low (spread +0.053% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ETHFI-USD	0.7193	0.0040	pay 0.0005% / 1h	31m 32s	$93K	$493K	10x
Short	Orderly PERP_ETHFI_USDC	0.7197	−0.0190	pay 0.0095% / 4h	31m 32s	$16K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Extended. 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 ExtendedbpFee OrderlybpOrdersPrice spread, now +0.053%Rate

Funding earned: −$48.21
Price spread: +0.053% → 0.000%: $5.28
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$53.93
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 46 min ago; Orderly: 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 Extended live order book, 46 min ago	2.66 bp	17.9 bp −$18	183.1 bp −$1,831	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
HTX ETHFI-USDT	−0.0332%	4h	0.7176	−0.239%	$83K	$164K	20x	as long as short
Orderly PERP_ETHFI_USDCshort	−0.0190%	4h	0.7197	+0.053%	$16K	$1K	10x
Deribit ETHFI_USDC-PERPETUAL	−0.0166%	1h	0.7201	+0.108%	$42K	$18K	10x	as long as short
Paradex ETHFI-USD-PERP	+0.0026%	8h	0.7192	−0.014%	$6K	—	5x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+0.651%	$321	$51K	5.5x	as long as short
MEXC ETHFI_USDT	+0.0038%	4h	0.7194	+0.011%	$15.2M	$3.8M	125x	as long as short
Extended ETHFI-USDlong	+0.0040%	1h	0.7193	long leg	$93K	$493K	10x
Binance ETHFIUSDT	+0.0042%	4h	0.7193	−0.003%	$25.1M	$37.2M	75x	as long as short
Aster ETHFIUSDT	+0.0059%	4h	0.7202	+0.127%	$184K	$262K	10x	as long as short
Aevo ETHFI-PERP	+0.0088%	1h	0.7195	+0.025%	$9K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter ETHFI	+0.0096%	1h	0.7206	+0.181%	$1.1M	$897K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7206	+0.183%	$18.2M	$8.9M	5x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7195	+0.025%	$18.2M	$13.1M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7198	+0.067%	$5.0M	$12.7M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7197	+0.053%	$1.7M	$2.1M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7195	+0.025%	$1.2M	$270K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7195	+0.025%	$6.1M	$5.7M	75x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.7197	+0.053%	—	$26.1M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7192	−0.021%	$1.1M	$738K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7197	+0.056%	$60K	$94K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7199	+0.081%	$2K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0149%	4h	0.7196	+0.039%	$1.3M	$291K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0216%	1h	0.7237	+0.609%	$32K	$6K	50x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0550%	1h	0.7204	+0.148%	$277K	$161K	20x	as long as short