Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1020%/8h= −111.7% APRpaid last 24h −0.217%

Price spread now: Deribit against BloFin+0.085%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 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 0.085% dearer against BloFin than usual: you sell high and buy low (spread +0.085% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 7 hours.

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 05m	$1.2M	$292K	75x
Short	Deribit ETHFI_USDC-PERPETUAL	0.7086	−0.0737	pay 0.0092% / 1h	5m 13s	$41K	$18K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.085%Rate

Funding earned: −$214.29
Price spread: +0.085% → 0.000%: $8.47
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$224.81
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 2 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 BloFin live order book, 2 min ago	1.41 bp	15.7 bp −$16	41.1 bp −$411	122.0 bp −$12.2K	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	−0.0737%	1h	0.7086	+0.085%	$41K	$18K	10x
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	+0.0030%	8h	0.7081	+0.020%	$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	0.7081	+0.014%	$6.0M	$5.7M	75x	as long as short
Binance ETHFIUSDT	+0.0071%	4h	0.7080	+0.005%	$24.6M	$37.1M	75x	as long as short
Extended ETHFI-USD	+0.0072%	1h	0.7080	0.000%	$92K	$495K	10x	as long as short
MEXC ETHFI_USDT	+0.0076%	4h	0.7081	+0.014%	$15.0M	$3.9M	125x	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	0.7091	+0.158%	$1.1M	$909K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7088	+0.119%	$18.0M	$8.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7094	+0.198%	$181K	$256K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7084	+0.056%	$18.1M	$12.8M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7084	+0.056%	$4.9M	$12.4M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7081	+0.014%	$1.7M	$2.1M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7094	+0.198%	$1.2M	$270K	50x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.7085	+0.071%	—	$25.9M	—	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-INTX	+0.0152%	1h	0.7165	+1.201%	$31K	$8K	50x	as long as short
BloFin ETHFI-USDTlong	+0.0284%	4h	0.7080	long leg	$1.2M	$292K	75x