Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0169%/8h= −18.5% APRpaid last 24h −0.132%

Price spread now: Deribit against HTX+0.308%7-day average — · you sell dearer than you buy

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

Long on HTX Short on Deribit

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

The price spread pays, funding is against you. Deribit is 0.308% dearer against HTX than usual: you sell high and buy low (spread +0.308% now, against zero (this spread has no 7-day history yet)): +$31 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 6.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ETHFI-USDT	0.7149	−0.0278	get 0.0139% / 4h	1h 40m	$83K	$165K	20x
Short	Deribit ETHFI_USDC-PERPETUAL	0.7171	−0.0447	pay 0.0056% / 1h	40m 00s	$42K	$18K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. 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 HTXbpFee DeribitbpOrdersPrice spread, now +0.308%Rate

Funding earned: −$35.43
Price spread: +0.308% → 0.000%: $30.77
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$23.66
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: HTX: live order book, 41 min ago; Deribit: 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 HTX live order book, 41 min ago	14.73 bp	22.6 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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-PERPETUALshort	−0.0447%	1h	0.7171	+0.308%	$42K	$18K	10x
HTX ETHFI-USDTlong	−0.0278%	4h	0.7149	long leg	$83K	$165K	20x
Kraken Futures PF_ETHFIUSD	−0.0252%	1h	0.7176	+0.379%	$281K	$146K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0179%	4h	0.7168	+0.266%	$16K	$1K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.273%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERP	+0.0044%	8h	0.7163	+0.199%	$6K	—	5x	as long as short
Binance ETHFIUSDT	+0.0062%	4h	0.7165	+0.224%	$24.9M	$37.0M	75x	as long as short
Extended ETHFI-USD	+0.0064%	1h	0.7165	+0.218%	$93K	$493K	10x	as long as short
MEXC ETHFI_USDT	+0.0064%	4h	0.7166	+0.238%	$15.2M	$3.8M	125x	as long as short
Bitget ETHFIUSDT	+0.0078%	4h	0.7169	+0.280%	$6.1M	$5.7M	75x	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	0.7171	+0.312%	$1.1M	$898K	5x	as long as short
Aevo ETHFI-PERP	+0.0096%	1h	0.7165	+0.224%	$9K	—	3x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7176	+0.375%	$18.2M	$8.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7166	+0.243%	$183K	$259K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7168	+0.266%	$18.2M	$12.9M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7173	+0.336%	$4.9M	$12.6M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7171	+0.308%	$1.7M	$2.1M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7168	+0.266%	$1.2M	$271K	50x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.7171	+0.308%	—	$25.9M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7161	+0.170%	$1.0M	$755K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7166	+0.231%	$59K	$87K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7167	+0.252%	$1K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0258%	4h	0.7154	+0.070%	$1.2M	$292K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0304%	1h	0.7176	+0.378%	$31K	$7K	50x	as long as short