Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0444%/8h= +48.6% APRpaid last 24h +0.077%

Price spread now: Coinbase International against BingX+0.340%7-day average — · you sell dearer than you buy

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

Long on BingX 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 +$13 a day on $10k at the current rate, and Coinbase International is 0.340% dearer against BingX than usual: you sell high and buy low: +$34 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	BingX ETHFI-USDT	0.7051	0.0100	pay 0.0050% / 4h	3h 51m	—	$8.8M	—
Short	Coinbase International ETHFI-PERP-INTX	0.7075	0.0544	get 0.0068% / 1h	51m 35s	$31K	$6K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BingX. 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 BingXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.340%Rate

Funding earned: $93.24
Price spread: +0.340% → 0.000%: $34.04
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $107.28
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: BingX: 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 BingX live order book, 1 min ago	2.13 bp	7.6 bp −$8	12.4 bp −$124	26.8 bp −$2,681	75.3 bp −$37.7K
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
HTX ETHFI-USDT	−0.1027%	4h	0.7036	−0.213%	$85K	$171K	20x	as long as short
Deribit ETHFI_USDC-PERPETUAL	−0.0316%	1h	0.7057	+0.085%	$40K	$11K	10x	as long as short
Kraken Futures PF_ETHFIUSD	−0.0304%	1h	0.7057	+0.088%	$264K	$209K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0237%	4h	0.7055	+0.057%	$16K	$1K	10x	as long as short
Paradex ETHFI-USD-PERP	+0.0004%	8h	0.7044	−0.096%	$6K	—	5x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+2.680%	$321	$51K	5.5x	as long as short
Variational Omni ETHFI	+0.0065%	4h	0.7037	−0.202%	$980K	$703K	—	as long as short
MEXC ETHFI_USDT	+0.0086%	4h	0.7043	−0.113%	$16.0M	$4.0M	125x	as long as short
Extended ETHFI-USD	+0.0088%	1h	0.7042	−0.126%	$95K	$379K	10x	as long as short
Binance ETHFIUSDT	+0.0088%	4h	0.7046	−0.071%	$24.5M	$35.0M	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	0.7060	+0.128%	$1.1M	$841K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7054	+0.043%	$17.5M	$7.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7053	+0.032%	$180K	$224K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7048	−0.043%	$17.6M	$12.5M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7053	+0.028%	$5.1M	$12.3M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7052	+0.014%	$1.7M	$1.9M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7052	+0.014%	$1.2M	$229K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7044	−0.099%	$6.1M	$5.2M	75x	as long as short
BingX ETHFI-USDTlong	+0.0100%	4h	0.7051	long leg	—	$8.8M	—
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7071	+0.284%	$70K	$118K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7061	+0.142%	$2K	$1.1M	20x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7055	+0.057%	$8K	—	3x	as long as short
BloFin ETHFI-USDT	+0.0327%	4h	0.7048	−0.043%	$1.2M	$244K	75x	as long as short
Coinbase International ETHFI-PERP-INTXshort	+0.0544%	1h	0.7075	+0.340%	$31K	$6K	50x