Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.004%

Price spread now: Aevo against Bybit−0.112%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Aevo

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

Funding pays, the price is against you. Aevo is 0.112% cheaper against Bybit than usual: you would sell low and buy high (spread −0.112% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 4.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ETHFIUSDT	0.7173	0	get 0.0000% / 4h	3h 34m	$18.2M	$12.9M	25x
Short	Aevo ETHFI-PERP	0.7165	0.0088	get 0.0011% / 1h	34m 44s	$9K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bybit. 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 BybitbpFee AevobpOrdersPrice spread, now −0.112%Rate

Funding earned: $18.48
Price spread: −0.112% → 0.000%: −$11.15
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$19.67
Costs to cover: 0.270%
Break-even: 14.5 days

Slippage unknown: Bybit: live order book, 4 min ago; Aevo: 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 Bybit live order book, 4 min ago	2.09 bp	17.3 bp −$17	43.0 bp −$430	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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
HTX ETHFI-USDT	−0.0904%	4h	0.7168	−0.070%	$83K	$159K	20x	as long as short
Deribit ETHFI_USDC-PERPETUAL	−0.0447%	1h	0.7173	0.000%	$41K	$13K	10x	as long as short
Orderly PERP_ETHFI_USDC	−0.0199%	4h	0.7169	−0.056%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0055%	4h	0.7179	+0.089%	$1.0M	$734K	—	as long as short
Paradex ETHFI-USD-PERP	−0.0038%	8h	0.7173	−0.006%	$6K	—	5x	as long as short
Bybit ETHFIUSDTlong	0.0000%	4h	0.7173	long leg	$18.2M	$12.9M	25x
Extended ETHFI-USD	+0.0032%	1h	0.7171	−0.024%	$97K	$566K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+0.934%	$321	$51K	5.5x	as long as short
MEXC ETHFI_USDT	+0.0034%	4h	0.7172	−0.014%	$15.3M	$3.8M	125x	as long as short
Binance ETHFIUSDT	+0.0037%	4h	0.7170	−0.042%	$25.0M	$37.0M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo ETHFI-PERPshort	+0.0088%	1h	0.7165	−0.112%	$9K	—	3x
Lighter ETHFI	+0.0096%	1h	0.7182	+0.131%	$1.1M	$894K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7179	+0.084%	$18.0M	$8.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7170	−0.045%	$183K	$258K	10x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7181	+0.112%	$5.0M	$12.5M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7180	+0.098%	$1.7M	$2.0M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7177	+0.056%	$1.2M	$268K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7171	−0.028%	$6.1M	$5.6M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7174	+0.014%	—	$1.2M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7176	+0.047%	$71K	$116K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7177	+0.056%	$1K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0138%	4h	0.7173	0.000%	$1.3M	$273K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0168%	1h	0.7237	+0.892%	$32K	$6K	50x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0220%	1h	0.7181	+0.106%	$273K	$165K	20x	as long as short