Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0649%/8h= −71.1% APRpaid last 24h −0.144%

Price spread now: Deribit against MEXC+0.115%7-day average — · you sell dearer than you buy

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

Long on MEXC 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 0.115% dearer against MEXC than usual: you sell high and buy low (spread +0.115% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ETHFI_USDT	0.6986	0.0042	pay 0.0021% / 4h	1h 57m	$15.7M	$4.0M	125x
Short	Deribit ETHFI_USDC-PERPETUAL	0.6994	−0.0607	pay 0.0076% / 1h	57m 48s	$43K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against MEXC. 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 MEXCbpFee DeribitbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$136.32
Price spread: +0.115% → 0.000%: $11.45
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$135.87
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: MEXC: live order book, 4 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 MEXC live order book, 4 min ago	0.71 bp	6.4 bp −$6	15.5 bp −$155	60.9 bp −$6,091	119.7 bp −$59.9K
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 exchanges

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	−0.0607%	1h	0.6994	+0.115%	$43K	$13K	10x
Orderly PERP_ETHFI_USDC	−0.0309%	4h	0.6992	+0.086%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0148%	4h	0.6993	+0.105%	$932K	$713K	—	as long as short
HTX ETHFI-USDT	−0.0054%	4h	0.6986	0.000%	$84K	$133K	20x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+3.636%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERP	+0.0034%	8h	0.6989	+0.049%	$6K	—	5x	as long as short
Extended ETHFI-USD	+0.0040%	1h	0.6985	−0.020%	$111K	$499K	10x	as long as short
Binance ETHFIUSDT	+0.0040%	4h	0.6986	+0.004%	$24.5M	$32.1M	75x	as long as short
MEXC ETHFI_USDTlong	+0.0042%	4h	0.6986	long leg	$15.7M	$4.0M	125x
Aevo ETHFI-PERP	+0.0088%	1h	0.6995	+0.126%	$8K	—	3x	as long as short

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHFIUSDT	+0.0094%	4h	0.6984	−0.029%	$17.2M	$11.8M	25x	as long as short
Lighter ETHFI	+0.0096%	1h	0.6998	+0.169%	$1.1M	$726K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.6993	+0.096%	$16.8M	$8.0M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.6996	+0.139%	$179K	$162K	10x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.6989	+0.043%	$5.1M	$12.2M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.6995	+0.129%	$1.7M	$1.7M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7000	+0.200%	$1.2M	$180K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.6986	0.000%	$6.3M	$3.7M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.6993	+0.100%	—	$1.2M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7001	+0.215%	$53K	$148K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7001	+0.215%	$2K	$1.0M	20x	as long as short
BloFin ETHFI-USDT	+0.0169%	4h	0.7000	+0.200%	$1.2M	$235K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0320%	1h	0.7040	+0.773%	$32K	$5K	50x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0572%	1h	0.7004	+0.263%	$302K	$296K	20x	as long as short