Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0524%/8h= +57.4% APRpaid last 24h +0.072%

Price spread now: Coinbase International against SunX+0.354%7-day average — · you sell dearer than you buy

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

Long on SunX 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 +$16 a day on $10k at the current rate, and Coinbase International is 0.354% dearer against SunX than usual: you sell high and buy low: +$35 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	SunX ETHFI-USDT	0.7071	0.0100	pay 0.0050% / 4h	21m 59s	$2K	$1.1M	20x
Short	Coinbase International ETHFI-PERP-INTX	0.7096	0.0624	get 0.0078% / 1h	21m 59s	$31K	$6K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.354%Rate

Funding earned: $110.04
Price spread: +0.354% → 0.000%: $35.36
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $127.4
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: SunX: live order book, 1 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 SunX live order book, 1 min ago	516.47 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
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	−0.0599%	1h	0.7062	−0.127%	$40K	$12K	10x	as long as short
HTX ETHFI-USDT	−0.0309%	4h	0.7046	−0.354%	$87K	$168K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0223%	4h	0.7058	−0.184%	$16K	$1K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+2.390%	$321	$51K	5.5x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0044%	1h	0.7063	−0.112%	$264K	$209K	20x	as long as short
Paradex ETHFI-USD-PERP	+0.0049%	8h	0.7060	−0.158%	$6K	—	5x	as long as short
Lighter ETHFI	+0.0096%	1h	0.7068	−0.044%	$1.1M	$879K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7061	−0.144%	$17.5M	$7.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7062	−0.120%	$180K	$263K	10x	as long as short
Binance ETHFIUSDT	+0.0100%	4h	0.7058	−0.184%	$24.5M	$35.3M	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	0.7062	−0.127%	$17.6M	$12.6M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7066	−0.071%	$5.1M	$12.4M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7065	−0.085%	$1.7M	$2.0M	75x	as long as short
MEXC ETHFI_USDT	+0.0100%	4h	0.7057	−0.198%	$15.7M	$4.0M	125x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7066	−0.071%	$1.2M	$228K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7060	−0.156%	$6.1M	$5.2M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7063	−0.113%	—	$1.2M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7054	−0.238%	$977K	$710K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7079	+0.109%	$70K	$118K	5x	as long as short
SunX ETHFI-USDTlong	+0.0100%	4h	0.7071	long leg	$2K	$1.1M	20x
Extended ETHFI-USD	+0.0104%	1h	0.7053	−0.254%	$97K	$379K	10x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7061	−0.147%	$8K	—	3x	as long as short
BloFin ETHFI-USDT	+0.0340%	4h	0.7062	−0.127%	$1.2M	$248K	75x	as long as short
Coinbase International ETHFI-PERP-INTXshort	+0.0624%	1h	0.7096	+0.354%	$31K	$6K	50x