Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0238%/8h= +26.1% APRpaid last 24h +0.056%

Price spread now: BloFin against Polymarket Perps−0.197%7-day average −0.114% · you buy dearer than you sell

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$520.520% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.515%+$52 on $10k

Price spread, last 4 days (all we have)+0.056%+$6 · spread now −0.197%, 7d avg −0.114%

Together, before fees+0.571%+$57 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.083% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.197% now, against its 7-day average of −0.114%). If the spread goes back, that is −$8 on $10k: about 28 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ETHFI-USD	0.7060	0.0100	pay 0.0013% / 1h	0m 49s	$70K	$118K	5x
Short	BloFin ETHFI-USDT	0.7046	0.0338	get 0.0169% / 4h	0m 49s	$1.2M	$246K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Polymarket Perps. 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 Polymarket PerpsbpFee BloFinbpOrdersPrice spread, now −0.197%Rate

Funding earned: $50
Price spread: −0.197% → −0.114%: −$8.33
Slippage, 4 orders: −$31.99
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$10.33
Costs to cover: 0.520%
Break-even: 8.4 days

Slippage from Polymarket Perps: live order book, 22 min ago; BloFin: live order book, 2 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 Polymarket Perps live order book, 22 min ago	3.67 bp	8.4 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	1.42 bp	10.5 bp −$11	22.2 bp −$222	71.3 bp −$7,131	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	−0.0460%	1h	0.7042	−0.254%	$40K	$12K	10x	as long as short
HTX ETHFI-USDT	−0.0420%	4h	0.7033	−0.381%	$87K	$168K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0236%	4h	0.7039	−0.296%	$16K	$1K	10x	as long as short
Paradex ETHFI-USD-PERP	+0.0001%	8h	0.7045	−0.217%	$6K	—	5x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+2.551%	$321	$51K	5.5x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0044%	1h	0.7043	−0.238%	$264K	$209K	20x	as long as short
Variational Omni ETHFI	+0.0078%	4h	0.7044	−0.221%	$983K	$706K	—	as long as short
Lighter ETHFI	+0.0096%	1h	0.7049	−0.159%	$1.1M	$883K	5x	as long as short
Extended ETHFI-USD	+0.0096%	1h	0.7037	−0.325%	$95K	$381K	10x	as long as short
Binance ETHFIUSDT	+0.0098%	4h	0.7040	−0.282%	$24.5M	$35.1M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ETHFI_USDT	+0.0098%	4h	0.7039	−0.296%	$15.8M	$4.1M	125x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7048	−0.171%	$17.4M	$7.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7049	−0.160%	$180K	$264K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7040	−0.282%	$17.6M	$12.6M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7046	−0.197%	$5.0M	$12.3M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7046	−0.197%	$1.7M	$2.0M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7042	−0.254%	$1.2M	$230K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7038	−0.310%	$6.0M	$5.2M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7043	−0.239%	—	$1.2M	—	as long as short
Polymarket Perps ETHFI-USDlong	+0.0100%	1h	0.7060	long leg	$70K	$118K	5x
SunX ETHFI-USDT	+0.0100%	4h	0.7045	−0.211%	$2K	$1.1M	20x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7040	−0.282%	$8K	—	3x	as long as short
BloFin ETHFI-USDTshort	+0.0338%	4h	0.7046	−0.197%	$1.2M	$246K	75x
Coinbase International ETHFI-PERP-INTX	+0.0624%	1h	0.7096	+0.511%	$31K	$6K	50x	as long as short