Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0411%/8h= −45.0% APRpaid last 24h −0.148%

Price spread now: Deribit against Gate+0.056%7-day average — · you sell dearer than you buy

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

Long on Gate 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 0.056% dearer against Gate than usual: you sell high and buy low (spread +0.056% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ETHFI_USDT	0.7121	0.0100	pay 0.0050% / 4h	1h 33m	$1.7M	$2.0M	75x
Short	Deribit ETHFI_USDC-PERPETUAL	0.7125	−0.0311	pay 0.0039% / 1h	33m 11s	$40K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Gate. 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 GatebpFee DeribitbpOrdersPrice spread, now +0.056%Rate

Funding earned: −$86.33
Price spread: +0.056% → 0.000%: $5.62
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$102.71
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 4 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 Gate live order book, 4 min ago	4.22 bp	24.9 bp −$25	201.5 bp −$2,015	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	−0.0311%	1h	0.7125	+0.056%	$40K	$13K	10x
Orderly PERP_ETHFI_USDC	−0.0199%	4h	0.7122	+0.014%	$16K	$1K	10x	as long as short
HTX ETHFI-USDT	−0.0040%	4h	0.7108	−0.183%	$87K	$168K	20x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.671%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERP	+0.0072%	8h	0.7120	−0.011%	$6K	—	5x	as long as short
Variational Omni ETHFI	+0.0084%	4h	0.7113	−0.118%	$1.0M	$732K	—	as long as short
Lighter ETHFI	+0.0096%	1h	0.7133	+0.163%	$1.1M	$888K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7127	+0.091%	$17.8M	$8.1M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7125	+0.061%	$182K	$256K	10x	as long as short
Binance ETHFIUSDT	+0.0100%	4h	0.7124	+0.042%	$24.8M	$35.6M	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	0.7127	+0.084%	$17.8M	$12.6M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7134	+0.183%	$5.0M	$12.3M	20x	as long as short
Gate ETHFI_USDTlong	+0.0100%	4h	0.7121	long leg	$1.7M	$2.0M	75x
MEXC ETHFI_USDT	+0.0100%	4h	0.7121	0.000%	$15.4M	$4.0M	125x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7119	−0.028%	$1.2M	$253K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7125	+0.056%	$6.1M	$5.3M	75x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.7127	+0.084%	—	$26.0M	—	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7127	+0.084%	$2K	$1.1M	20x	as long as short
Extended ETHFI-USD	+0.0104%	1h	0.7119	−0.021%	$99K	$376K	10x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7125	+0.056%	$8K	—	3x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0306%	1h	0.7127	+0.085%	$270K	$201K	20x	as long as short
BloFin ETHFI-USDT	+0.0340%	4h	0.7121	0.000%	$1.2M	$249K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0512%	1h	0.7253	+1.854%	$32K	$6K	50x	as long as short
Polymarket Perps ETHFI-USD	+0.0544%	1h	0.7145	+0.341%	$71K	$118K	5x	as long as short