Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0186%/8h= +20.4% APRpaid last 24h +0.077%

Price spread now: Coinbase International against MEXC+0.682%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Coinbase International

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

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.682% dearer against MEXC than usual: you sell high and buy low: +$68 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ETHFI_USDT	0.7188	0.0030	pay 0.0015% / 4h	19m 17s	$15.3M	$3.8M	125x
Short	Coinbase International ETHFI-PERP-INTX	0.7237	0.0216	get 0.0027% / 1h	19m 17s	$32K	$6K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now +0.682%Rate

Funding earned: $39.06
Price spread: +0.682% → 0.000%: $68.17
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $93.23
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: MEXC: live order book, 4 min ago; Coinbase International: 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 MEXC live order book, 4 min ago	0.70 bp	5.6 bp −$6	12.0 bp −$120	63.8 bp −$6,379	178.2 bp −$89.1K
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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-PERPETUAL	−0.0445%	1h	0.7191	+0.042%	$42K	$18K	10x	as long as short
HTX ETHFI-USDT	−0.0363%	4h	0.7186	−0.028%	$84K	$165K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0189%	4h	0.7186	−0.028%	$16K	$1K	10x	as long as short
Paradex ETHFI-USD-PERP	−0.0017%	8h	0.7178	−0.141%	$6K	—	5x	as long as short
Binance ETHFIUSDT	+0.0029%	4h	0.7188	+0.003%	$25.1M	$37.2M	75x	as long as short
MEXC ETHFI_USDTlong	+0.0030%	4h	0.7188	long leg	$15.3M	$3.8M	125x
Extended ETHFI-USD	+0.0032%	1h	0.7187	−0.016%	$93K	$492K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+0.723%	$321	$51K	5.5x	as long as short
Aevo ETHFI-PERP	+0.0088%	1h	0.7190	+0.028%	$9K	—	3x	as long as short
Aster ETHFIUSDT	+0.0089%	4h	0.7185	−0.036%	$183K	$259K	10x	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	0.7192	+0.061%	$1.1M	$897K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7198	+0.135%	$18.2M	$8.9M	5x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7188	0.000%	$18.2M	$13.1M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7192	+0.056%	$5.0M	$12.6M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7189	+0.014%	$1.7M	$2.1M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7186	−0.028%	$1.2M	$270K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7190	+0.028%	$6.1M	$5.7M	75x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.7187	−0.014%	—	$26.1M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7190	+0.028%	$1.1M	$738K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7187	−0.008%	$60K	$94K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7193	+0.070%	$2K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0120%	4h	0.7182	−0.083%	$1.3M	$286K	75x	as long as short
Coinbase International ETHFI-PERP-INTXshort	+0.0216%	1h	0.7237	+0.682%	$32K	$6K	50x
Kraken Futures PF_ETHFIUSD	+0.0550%	1h	0.7194	+0.089%	$276K	$162K	20x	as long as short