Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0549%/8h= −60.1% APRpaid last 24h −0.152%

Price spread now: Deribit against KuCoin+0.028%7-day average — · you sell dearer than you buy

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

Long on KuCoin 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 0.028% dearer against KuCoin than usual: you sell high and buy low (spread +0.028% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ETHFIUSDTM	0.7146	0.0100	pay 0.0050% / 4h	1m 39s	$1.2M	$269K	50x
Short	Deribit ETHFI_USDC-PERPETUAL	0.7148	−0.0449	pay 0.0056% / 1h	1m 39s	$41K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$115.29
Price spread: +0.028% → 0.000%: $2.8
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$131.49
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	6.30 bp	46.1 bp −$46	180.0 bp −$1,800	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	−0.0449%	1h	0.7148	+0.028%	$41K	$13K	10x
HTX ETHFI-USDT	−0.0361%	4h	0.7130	−0.224%	$83K	$165K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0192%	4h	0.7145	−0.014%	$16K	$1K	10x	as long as short
Paradex ETHFI-USD-PERP	−0.0048%	8h	0.7146	−0.005%	$6K	—	5x	as long as short
MEXC ETHFI_USDT	+0.0020%	4h	0.7147	+0.014%	$15.2M	$3.8M	125x	as long as short
Binance ETHFIUSDT	+0.0022%	4h	0.7148	+0.028%	$24.9M	$37.4M	75x	as long as short
Extended ETHFI-USD	+0.0024%	1h	0.7147	+0.008%	$92K	$492K	10x	as long as short
Variational Omni ETHFI	+0.0028%	4h	0.7132	−0.202%	$1.0M	$745K	—	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.315%	$321	$51K	5.5x	as long as short
BloFin ETHFI-USDT	+0.0078%	4h	0.7151	+0.070%	$1.2M	$282K	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo ETHFI-PERP	+0.0088%	1h	0.7141	−0.065%	$9K	—	3x	as long as short
Lighter ETHFI	+0.0096%	1h	0.7158	+0.168%	$1.1M	$897K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7154	+0.106%	$18.0M	$9.1M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7151	+0.070%	$183K	$259K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7149	+0.042%	$18.1M	$13.1M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7154	+0.112%	$5.0M	$12.6M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7151	+0.070%	$1.7M	$2.1M	75x	as long as short
KuCoin ETHFIUSDTMlong	+0.0100%	4h	0.7146	long leg	$1.2M	$269K	50x
Bitget ETHFIUSDT	+0.0100%	4h	0.7150	+0.056%	$6.1M	$5.7M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7151	+0.070%	—	$1.2M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7152	+0.078%	$59K	$94K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7158	+0.168%	$1K	$1.1M	20x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0216%	1h	0.7237	+1.273%	$32K	$6K	50x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0553%	1h	0.7158	+0.163%	$275K	$163K	20x	as long as short