Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: Polymarket Perps against Binance+0.473%56s7-day average +0.105% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.482% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 4 days (all we have)−1.230%−$123 · spread now +0.473%, 7d avg +0.105%

Together, before fees−1.274%−$127 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: Polymarket Perps is 0.368% dearer against Binance than usual: you sell high and buy low, +$37 on $10k if it goes back to its 7-day average of +0.105%. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ETHFIUSDT	0.7151	0.0100	pay 0.0050% / 4h	2h 00m	$24.9M	$35.7M	75x
Short	Polymarket Perps ETHFI-USD	0.7185	0.0100	get 0.0013% / 1h	0m 33s	$71K	$118K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Binance. 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 BinancebpFee Polymarket PerpsbpOrdersPrice spread, now +0.473%Rate

Funding earned: $0
Price spread: +0.473% → +0.105%: $36.79
Slippage, 4 orders: −$30.22
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$11.43
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Polymarket Perps: live order book, 32 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 Binance live order book, 11 min ago	0.69 bp	15.1 bp −$15	31.4 bp −$314	170.8 bp −$17.1K	doesn't fit
Sell Polymarket Perps live order book, 32 min ago	4.81 bp	9.4 bp −$9	doesn't fit	doesn't fit	doesn't fit

ETHFI on 23 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	−0.0308%	1h	0.7161	+0.140%	$41K	$13K	10x	as long as short
Orderly PERP_ETHFI_USDC	−0.0198%	4h	0.7157	+0.084%	$16K	$1K	10x	as long as short
HTX ETHFI-USDT	−0.0124%	4h	0.7149	−0.028%	$88K	$168K	20x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.245%	$321	$51K	5.5x	as long as short
Variational Omni ETHFI	+0.0064%	4h	0.7160	+0.122%	$1.1M	$717K	—	as long as short
Paradex ETHFI-USD-PERP	+0.0066%	8h	0.7150	−0.019%	$6K	—	5x	as long as short
Lighter ETHFI	+0.0096%	1h	0.7164	+0.186%	$1.1M	$888K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7158	+0.094%	$17.9M	$8.1M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7163	+0.167%	$183K	$258K	10x	as long as short
Binance ETHFIUSDTlong	+0.0100%	4h	0.7151	long leg	$24.9M	$35.7M	75x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHFIUSDT	+0.0100%	4h	0.7155	+0.056%	$18.0M	$12.5M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7160	+0.126%	$5.0M	$12.2M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7158	+0.098%	$1.7M	$2.0M	75x	as long as short
MEXC ETHFI_USDT	+0.0100%	4h	0.7153	+0.028%	$15.4M	$4.0M	125x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7161	+0.140%	$1.2M	$254K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7157	+0.084%	$6.1M	$5.3M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7157	+0.084%	—	$1.2M	—	as long as short
Polymarket Perps ETHFI-USDshort	+0.0100%	1h	0.7185	+0.473%	$71K	$118K	5x
SunX ETHFI-USDT	+0.0100%	4h	0.7163	+0.168%	$2K	$1.1M	20x	as long as short
Extended ETHFI-USD	+0.0104%	1h	0.7149	−0.035%	$100K	$381K	10x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7156	+0.076%	$9K	—	3x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0160%	1h	0.7253	+1.426%	$32K	$6K	50x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0226%	1h	0.7171	+0.275%	$275K	$188K	20x	as long as short