Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0352%/8h= −38.6% APRpaid last 24h −0.117%

Price spread now: Kraken Futures against SunX+0.077%7-day average +0.041% · you sell dearer than you buy

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

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.257%+$26 on $10k

Price spread, last 3 days (all we have)+0.104%+$10 · spread now +0.077%, 7d avg +0.041%

Together, before fees+0.361%+$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.036% dearer against SunX than usual: you sell high and buy low (spread +0.077% now, against its 7-day average of +0.041%): +$4 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 8 hours. Mind the row above: over the last 7 days funding on this pair paid +0.257%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ETHFI-USDT	0.7168	0.0100	pay 0.0050% / 4h	1h 37m	$2K	$1.1M	20x
Short	Kraken Futures PF_ETHFIUSD	0.7174	−0.0252	pay 0.0032% / 1h	37m 04s	$281K	$146K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now +0.077%Rate

Funding earned: −$74
Price spread: +0.077% → +0.041%: $3.59
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$88.41
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 6 min ago; Kraken Futures: live order book, 46 min ago. 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 SunX live order book, 6 min ago	500.38 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 46 min ago	16.06 bp	36.3 bp −$36	139.5 bp −$1,395	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	−0.0448%	1h	0.7159	−0.126%	$42K	$18K	10x	as long as short
HTX ETHFI-USDT	−0.0293%	4h	0.7155	−0.181%	$83K	$165K	20x	as long as short
Kraken Futures PF_ETHFIUSDshort	−0.0252%	1h	0.7174	+0.077%	$281K	$146K	20x
Orderly PERP_ETHFI_USDC	−0.0180%	4h	0.7156	−0.167%	$16K	$1K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.004%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERP	+0.0043%	8h	0.7161	−0.092%	$6K	—	5x	as long as short
Extended ETHFI-USD	+0.0056%	1h	0.7153	−0.204%	$93K	$493K	10x	as long as short
Binance ETHFIUSDT	+0.0058%	4h	0.7157	−0.153%	$24.9M	$37.0M	75x	as long as short
MEXC ETHFI_USDT	+0.0060%	4h	0.7157	−0.153%	$15.2M	$3.8M	125x	as long as short
Bitget ETHFIUSDT	+0.0080%	4h	0.7157	−0.153%	$6.1M	$5.7M	75x	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	0.7163	−0.068%	$1.1M	$898K	5x	as long as short
Aevo ETHFI-PERP	+0.0096%	1h	0.7155	−0.181%	$9K	—	3x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7168	−0.006%	$18.1M	$8.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7169	+0.014%	$183K	$257K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7161	−0.098%	$18.2M	$12.9M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7164	−0.056%	$4.9M	$12.5M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7166	−0.028%	$1.7M	$2.1M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7162	−0.084%	$1.2M	$271K	50x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7162	−0.084%	—	$1.2M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7161	−0.095%	$1.0M	$755K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7164	−0.061%	$59K	$93K	5x	as long as short
SunX ETHFI-USDTlong	+0.0100%	4h	0.7168	long leg	$2K	$1.1M	20x
BloFin ETHFI-USDT	+0.0232%	4h	0.7159	−0.126%	$1.2M	$293K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0304%	1h	0.7176	+0.112%	$31K	$7K	50x	as long as short