Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.007%

Price spread now: Extended against KuCoin−0.055%7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$155as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1541.542% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)−0.566%−$57 · spread now −0.055%, 7d avg −0.088%

Together, before fees−0.577%+ Points / potential airdropExtended: Active · farm board−$58 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.034% dearer against KuCoin than usual: you sell high and buy low (spread −0.055% now, against its 7-day average of −0.088%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.2 days. At the pace of the last 7 days (−0.011% in total) that is about 22 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ETHFIUSDTM	0.6985	0.0100	pay 0.0050% / 4h	3h 18m	$1.2M	$209K	50x
Short	Extended ETHFI-USD	0.6981	0.0048	get 0.0006% / 1h	18m 02s	$94K	$501K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$10.92
Price spread: −0.055% → −0.088%: $3.35
Slippage, 4 orders: −$137.19
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$161.76
Costs to cover: 1.542%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Extended: live order book, 15 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 KuCoin live order book, 7 min ago	10.07 bp	61.5 bp −$62	167.8 bp −$1,678	doesn't fit	doesn't fit
Sell Extended live order book, 15 min ago	2.67 bp	17.3 bp −$17	134.3 bp −$1,343	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	−0.0322%	1h	0.6986	+0.014%	$41K	$12K	10x	as long as short
HTX ETHFI-USDT	−0.0320%	4h	0.6980	−0.072%	$83K	$151K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0277%	4h	0.6981	−0.057%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0229%	4h	0.6992	+0.107%	$932K	$790K	—	as long as short
Paradex ETHFI-USD-PERP	−0.0065%	8h	0.6978	−0.094%	$6K	—	5x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+3.651%	$321	$51K	5.5x	as long as short
MEXC ETHFI_USDT	+0.0042%	4h	0.6984	−0.014%	$15.9M	$4.3M	125x	as long as short
Aster ETHFIUSDT	+0.0048%	4h	0.6993	+0.112%	$179K	$230K	10x	as long as short
Extended ETHFI-USDshort	+0.0048%	1h	0.6981	−0.055%	$94K	$501K	10x
Binance ETHFIUSDT	+0.0050%	4h	0.6984	−0.013%	$24.4M	$35.6M	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	0.6985	0.000%	$8K	—	3x	as long as short
Lighter ETHFI	+0.0096%	1h	0.6994	+0.125%	$1.1M	$836K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.6990	+0.072%	$16.6M	$8.6M	5x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.6986	+0.014%	$17.1M	$12.8M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.6989	+0.057%	$5.1M	$12.5M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.6994	+0.129%	$1.7M	$1.9M	75x	as long as short
KuCoin ETHFIUSDTMlong	+0.0100%	4h	0.6985	long leg	$1.2M	$209K	50x
Bitget ETHFIUSDT	+0.0100%	4h	0.6985	0.000%	$6.1M	$4.2M	75x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.6988	+0.043%	—	$10.6M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.6986	+0.007%	$53K	$148K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.6991	+0.086%	$2K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0176%	4h	0.6974	−0.157%	$1.2M	$233K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0336%	1h	0.7020	+0.501%	$32K	$6K	50x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0863%	1h	0.7000	+0.222%	$297K	$293K	20x	as long as short