Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0132%/8h= −14.4% APRpaid last 24h +0.008%

Price spread now: Coinbase International against BloFin+1.201%7-day average — · you sell dearer than you buy

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

Long on BloFin 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

The price spread pays, funding is against you. Coinbase International is 1.201% dearer against BloFin than usual: you sell high and buy low (spread +1.201% now, against zero (this spread has no 7-day history yet)): +$120 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 30 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ETHFI-USDT	0.7080	0.0284	pay 0.0142% / 4h	2h 04m	$1.2M	$292K	75x
Short	Coinbase International ETHFI-PERP-INTX	0.7165	0.0152	get 0.0019% / 1h	4m 37s	$31K	$8K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now +1.201%Rate

Funding earned: −$27.62
Price spread: +1.201% → 0.000%: $120.06
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $70.44
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: BloFin: live order book, 3 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 BloFin live order book, 3 min ago	1.41 bp	15.7 bp −$16	41.1 bp −$411	122.0 bp −$12.2K	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	−0.0737%	1h	0.7086	+0.085%	$41K	$18K	10x	as long as short
HTX ETHFI-USDT	−0.0230%	4h	0.7081	+0.014%	$82K	$165K	20x	as long as short
Kraken Futures PF_ETHFIUSD	−0.0215%	1h	0.7090	+0.139%	$279K	$145K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0174%	4h	0.7083	+0.042%	$16K	$1K	10x	as long as short
Paradex ETHFI-USD-PERP	+0.0029%	8h	0.7078	−0.029%	$6K	—	5x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+2.260%	$321	$51K	5.5x	as long as short
Bitget ETHFIUSDT	+0.0034%	4h	0.7077	−0.042%	$6.0M	$5.7M	75x	as long as short
Binance ETHFIUSDT	+0.0066%	4h	0.7079	−0.014%	$24.6M	$37.1M	75x	as long as short
MEXC ETHFI_USDT	+0.0070%	4h	0.7080	0.000%	$15.0M	$3.9M	125x	as long as short
Extended ETHFI-USD	+0.0072%	1h	0.7078	−0.032%	$92K	$495K	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	0.7086	+0.082%	$1.1M	$909K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7083	+0.045%	$18.0M	$8.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7087	+0.101%	$181K	$256K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7085	+0.071%	$18.1M	$12.8M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7082	+0.028%	$4.9M	$12.4M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7078	−0.028%	$1.7M	$2.1M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7087	+0.099%	$1.2M	$270K	50x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7081	+0.014%	—	$1.2M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7087	+0.094%	$1.0M	$739K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7086	+0.090%	$59K	$85K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7091	+0.155%	$1K	$1.1M	20x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7085	+0.071%	$8K	—	3x	as long as short
Coinbase International ETHFI-PERP-INTXshort	+0.0152%	1h	0.7165	+1.201%	$31K	$8K	50x
BloFin ETHFI-USDTlong	+0.0284%	4h	0.7080	long leg	$1.2M	$292K	75x