Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0627%/8h= −68.6% APRpaid last 24h −0.130%

Price spread now: Deribit against Bitget+0.042%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Deribit

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

The price spread pays, funding is against you. Deribit is 0.042% dearer against Bitget than usual: you sell high and buy low (spread +0.042% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ETHFIUSDT	0.7146	0.0038	pay 0.0019% / 4h	2h 22m	$6.1M	$5.6M	75x
Short	Deribit ETHFI_USDC-PERPETUAL	0.7149	−0.0589	pay 0.0074% / 1h	22m 03s	$42K	$18K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bitget. 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 BitgetbpFee DeribitbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$131.58
Price spread: +0.042% → 0.000%: $4.2
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$146.38
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 1 min ago; Deribit: 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 Bitget live order book, 1 min ago	3.50 bp	16.5 bp −$16	37.7 bp −$377	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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-PERPETUALshort	−0.0589%	1h	0.7149	+0.042%	$42K	$18K	10x
Kraken Futures PF_ETHFIUSD	−0.0213%	1h	0.7156	+0.146%	$282K	$144K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0167%	4h	0.7144	−0.028%	$16K	$1K	10x	as long as short
HTX ETHFI-USDT	−0.0127%	4h	0.7135	−0.154%	$83K	$165K	20x	as long as short
Paradex ETHFI-USD-PERP	+0.0031%	8h	0.7144	−0.028%	$6K	—	5x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.315%	$321	$51K	5.5x	as long as short
Bitget ETHFIUSDTlong	+0.0038%	4h	0.7146	long leg	$6.1M	$5.6M	75x
Extended ETHFI-USD	+0.0088%	1h	0.7144	−0.026%	$92K	$495K	10x	as long as short
MEXC ETHFI_USDT	+0.0088%	4h	0.7145	−0.014%	$15.2M	$3.8M	125x	as long as short
Binance ETHFIUSDT	+0.0089%	4h	0.7144	−0.022%	$24.9M	$36.9M	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	0.7151	+0.064%	$1.1M	$909K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7150	+0.059%	$18.3M	$8.8M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7150	+0.058%	$182K	$255K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7149	+0.042%	$18.3M	$12.8M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7147	+0.014%	$4.9M	$12.4M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7149	+0.042%	$1.7M	$2.1M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7150	+0.056%	$1.2M	$270K	50x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7147	+0.014%	—	$1.2M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7115	−0.437%	$1.0M	$718K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7151	+0.076%	$60K	$85K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7153	+0.098%	$1K	$1.1M	20x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7143	−0.048%	$9K	—	3x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0152%	1h	0.7157	+0.154%	$31K	$9K	50x	as long as short
BloFin ETHFI-USDT	+0.0328%	4h	0.7144	−0.028%	$1.3M	$295K	75x	as long as short