Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.025%

Price spread now: Aster against Injective−1.153%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Aster

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 airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 1.153% cheaper against Injective than usual: you would sell low and buy high (spread −1.153% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$115 on $10k: about 58 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ETHFI/USDC PERP	0.7240	0.0033	pay 0.0004% / 1h	19m 14s	$321	$51K	5.5x
Short	Aster ETHFIUSDT	0.7157	0.0100	get 0.0050% / 4h	1h 19m	$183K	$256K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now −1.153%Rate

Funding earned: $14
Price spread: −1.153% → 0.000%: −$115.26
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$109.28
Costs to cover: 0.080%
Break-even: 61.6 days

Slippage unknown: Injective: no order-book sample; Aster: live order book, 42 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 Injective no order-book sample	—	—	—	—	—
Sell Aster live order book, 42 min ago	5.59 bp	23.4 bp −$23	doesn't fit	doesn't fit	doesn't fit

Injective: 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	−0.0448%	1h	0.7157	−1.146%	$41K	$12K	10x	as long as short
Orderly PERP_ETHFI_USDC	−0.0202%	4h	0.7152	−1.215%	$16K	$1K	10x	as long as short
HTX ETHFI-USDT	−0.0087%	4h	0.7123	−1.616%	$88K	$168K	20x	as long as short
Injective ETHFI/USDC PERPlong	+0.0033%	1h	0.7240	long leg	$321	$51K	5.5x
Paradex ETHFI-USD-PERP	+0.0079%	8h	0.7152	−1.219%	$6K	—	5x	as long as short
Lighter ETHFI	+0.0096%	1h	0.7165	−1.030%	$1.1M	$888K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7156	−1.159%	$17.9M	$8.1M	5x	as long as short
Aster ETHFIUSDTshort	+0.0100%	4h	0.7157	−1.153%	$183K	$256K	10x
Binance ETHFIUSDT	+0.0100%	4h	0.7151	−1.232%	$24.9M	$35.6M	75x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7156	−1.160%	$17.9M	$12.6M	25x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7160	−1.105%	$5.1M	$12.3M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7162	−1.077%	$1.7M	$2.0M	75x	as long as short
MEXC ETHFI_USDT	+0.0100%	4h	0.7150	−1.243%	$15.5M	$4.0M	125x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7161	−1.091%	$1.2M	$253K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7153	−1.202%	$6.2M	$5.3M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7157	−1.146%	—	$1.2M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7156	−1.165%	$1.0M	$716K	—	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7158	−1.133%	$2K	$1.1M	20x	as long as short
Extended ETHFI-USD	+0.0104%	1h	0.7151	−1.229%	$97K	$379K	10x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7151	−1.231%	$9K	—	3x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0305%	1h	0.7158	−1.134%	$271K	$202K	20x	as long as short
BloFin ETHFI-USDT	+0.0340%	4h	0.7146	−1.298%	$1.2M	$250K	75x	as long as short
Polymarket Perps ETHFI-USD	+0.0495%	1h	0.7165	−1.036%	$71K	$118K	5x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0512%	1h	0.7169	−0.981%	$31K	$6K	50x	as long as short