Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0477%/8h= +52.2% APRpaid last 24h +0.132%

Price spread now: Coinbase International against Orderly+0.168%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Coinbase International

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

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Coinbase International is 0.168% dearer against Orderly than usual: you sell high and buy low: +$17 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ETHFI_USDC	0.7135	−0.0173	get 0.0087% / 4h	1h 53m	$16K	$1K	10x
Short	Coinbase International ETHFI-PERP-INTX	0.7147	0.0304	get 0.0038% / 1h	53m 46s	$31K	$8K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now +0.168%Rate

Funding earned: $100.2
Price spread: +0.168% → 0.000%: $16.82
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $101.02
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Coinbase International: 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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International no order-book sample	—	—	—	—	—

Orderly and Coinbase International: 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	−0.0590%	1h	0.7137	+0.028%	$42K	$18K	10x	as long as short
Kraken Futures PF_ETHFIUSD	−0.0253%	1h	0.7150	+0.205%	$281K	$145K	20x	as long as short
HTX ETHFI-USDT	−0.0200%	4h	0.7120	−0.210%	$83K	$165K	20x	as long as short
Orderly PERP_ETHFI_USDClong	−0.0173%	4h	0.7135	long leg	$16K	$1K	10x
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.472%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERP	+0.0041%	8h	0.7125	−0.142%	$6K	—	5x	as long as short
Bitget ETHFIUSDT	+0.0060%	4h	0.7122	−0.182%	$6.1M	$5.7M	75x	as long as short
Binance ETHFIUSDT	+0.0079%	4h	0.7125	−0.143%	$24.8M	$37.1M	75x	as long as short
Extended ETHFI-USD	+0.0080%	1h	0.7124	−0.160%	$92K	$495K	10x	as long as short
MEXC ETHFI_USDT	+0.0080%	4h	0.7125	−0.140%	$15.1M	$3.8M	125x	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	0.7132	−0.048%	$1.1M	$898K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7133	−0.027%	$18.1M	$8.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7135	0.000%	$182K	$256K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7133	−0.028%	$18.2M	$12.9M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7129	−0.084%	$4.9M	$12.5M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7138	+0.042%	$1.7M	$2.0M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7133	−0.028%	$1.2M	$270K	50x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.7131	−0.056%	—	$25.9M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7124	−0.156%	$1.0M	$746K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7138	+0.049%	$60K	$85K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7142	+0.098%	$2K	$1.1M	20x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7127	−0.112%	$8K	—	3x	as long as short
Coinbase International ETHFI-PERP-INTXshort	+0.0304%	1h	0.7147	+0.168%	$31K	$8K	50x
BloFin ETHFI-USDT	+0.0312%	4h	0.7135	0.000%	$1.3M	$292K	75x	as long as short