Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.017%

Price spread now: OKX against SunX+0.014%7-day average −0.017% · you sell dearer than you buy

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

Long on SunX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 4 days (all we have)+0.271%+$27 · spread now +0.014%, 7d avg −0.017%

Together, before fees+0.240%+$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.031% dearer against SunX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ETHFI-USDT	0.7126	0.0100	pay 0.0050% / 4h	1h 42m	$1K	$1.1M	20x
Short	OKX ETHFI-USDT-SWAP	0.7127	0.0100	get 0.0050% / 4h	1h 42m	$5.0M	$12.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → −0.017%: $3.07
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$14.93
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 1 min ago; OKX: live order book, 1 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, 1 min ago	500.56 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	1.40 bp	13.3 bp −$13	39.5 bp −$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	−0.0311%	1h	0.7123	−0.042%	$40K	$13K	10x	as long as short
Orderly PERP_ETHFI_USDC	−0.0199%	4h	0.7121	−0.070%	$16K	$1K	10x	as long as short
HTX ETHFI-USDT	−0.0031%	4h	0.7114	−0.168%	$88K	$168K	20x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.600%	$321	$51K	5.5x	as long as short
Variational Omni ETHFI	+0.0058%	4h	0.7092	−0.473%	$1.0M	$731K	—	as long as short
Paradex ETHFI-USD-PERP	+0.0069%	8h	0.7128	+0.026%	$6K	—	5x	as long as short
Lighter ETHFI	+0.0096%	1h	0.7134	+0.107%	$1.1M	$888K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7129	+0.036%	$17.8M	$8.1M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7134	+0.114%	$182K	$256K	10x	as long as short
Binance ETHFIUSDT	+0.0100%	4h	0.7123	−0.048%	$24.8M	$35.7M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHFIUSDT	+0.0100%	4h	0.7126	0.000%	$17.8M	$12.6M	25x	as long as short
OKX ETHFI-USDT-SWAPshort	+0.0100%	4h	0.7127	+0.014%	$5.0M	$12.3M	20x
Gate ETHFI_USDT	+0.0100%	4h	0.7129	+0.042%	$1.7M	$2.0M	75x	as long as short
MEXC ETHFI_USDT	+0.0100%	4h	0.7123	−0.042%	$15.4M	$3.9M	125x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7125	−0.014%	$1.2M	$253K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7122	−0.056%	$6.1M	$5.3M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7129	+0.042%	—	$1.2M	—	as long as short
SunX ETHFI-USDTlong	+0.0100%	4h	0.7126	long leg	$1K	$1.1M	20x
Extended ETHFI-USD	+0.0104%	1h	0.7120	−0.078%	$99K	$381K	10x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7125	−0.014%	$8K	—	3x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0306%	1h	0.7127	+0.020%	$270K	$200K	20x	as long as short
BloFin ETHFI-USDT	+0.0340%	4h	0.7124	−0.028%	$1.3M	$249K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0512%	1h	0.7253	+1.782%	$32K	$6K	50x	as long as short
Polymarket Perps ETHFI-USD	+0.0553%	1h	0.7147	+0.296%	$71K	$118K	5x	as long as short