Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0352%/8h= −38.6% APRpaid last 24h −0.115%

Price spread now: Kraken Futures against Gate+0.107%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1111.107% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.352%+$35 on $10k

Price spread, last 3 days (all we have)−0.016%−$2 · spread now +0.107%, 7d avg +0.050%

Together, before fees+0.336%+$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.057% dearer against Gate than usual: you sell high and buy low (spread +0.107% now, against its 7-day average of +0.050%): +$6 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 13 hours. Mind the row above: over the last 7 days funding on this pair paid +0.352%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ETHFI_USDT	0.7164	0.0100	pay 0.0050% / 4h	1h 12m	$1.7M	$2.1M	75x
Short	Kraken Futures PF_ETHFIUSD	0.7172	−0.0252	pay 0.0032% / 1h	12m 02s	$282K	$147K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.107%Rate

Funding earned: −$74.02
Price spread: +0.107% → +0.050%: $5.66
Slippage, 4 orders: −$85.69
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$179.05
Costs to cover: 1.107%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Kraken Futures: live order book, 6 min ago.

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 Gate live order book, 1 min ago	2.79 bp	26.4 bp −$26	225.3 bp −$2,253	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	11.16 bp	22.5 bp −$23	137.6 bp −$1,376	doesn't fit	doesn't fit

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	−0.0447%	1h	0.7165	+0.014%	$42K	$18K	10x	as long as short
Kraken Futures PF_ETHFIUSDshort	−0.0252%	1h	0.7172	+0.107%	$282K	$147K	20x
HTX ETHFI-USDT	−0.0251%	4h	0.7150	−0.195%	$83K	$165K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0186%	4h	0.7163	−0.014%	$16K	$1K	10x	as long as short
Paradex ETHFI-USD-PERP	+0.0023%	8h	0.7161	−0.044%	$6K	—	5x	as long as short
Extended ETHFI-USD	+0.0024%	1h	0.7161	−0.040%	$93K	$493K	10x	as long as short
Binance ETHFIUSDT	+0.0026%	4h	0.7162	−0.034%	$24.8M	$37.2M	75x	as long as short
MEXC ETHFI_USDT	+0.0026%	4h	0.7162	−0.028%	$15.1M	$3.8M	125x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.061%	$321	$51K	5.5x	as long as short
Aevo ETHFI-PERP	+0.0088%	1h	0.7160	−0.056%	$9K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ETHFIUSDT	+0.0090%	4h	0.7162	−0.028%	$6.1M	$5.7M	75x	as long as short
Lighter ETHFI	+0.0096%	1h	0.7169	+0.067%	$1.1M	$898K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7173	+0.127%	$18.1M	$8.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7162	−0.028%	$183K	$259K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7164	0.000%	$18.2M	$13.0M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7167	+0.042%	$4.9M	$12.5M	20x	as long as short
Gate ETHFI_USDTlong	+0.0100%	4h	0.7164	long leg	$1.7M	$2.1M	75x
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7162	−0.028%	$1.2M	$272K	50x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.7163	−0.014%	—	$26.1M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7158	−0.082%	$1.0M	$755K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7163	−0.010%	$59K	$93K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7165	+0.014%	$1K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0107%	4h	0.7152	−0.168%	$1.2M	$291K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0304%	1h	0.7177	+0.181%	$31K	$6K	50x	as long as short