Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0408%/8h= +44.7% APRpaid last 24h +0.151%

Price spread now: Aster against Deribit−0.053%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.053% cheaper against Deribit than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 10 hours of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ETHFI_USDC-PERPETUAL	0.7161	−0.0308	get 0.0039% / 1h	33m 48s	$42K	$18K	10x
Short	Aster ETHFIUSDT	0.7157	0.0100	get 0.0050% / 4h	1h 33m	$183K	$258K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now −0.053%Rate

Funding earned: $85.74
Price spread: −0.053% → 0.000%: −$5.29
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: $65.45
Costs to cover: 0.150%
Break-even: 1.7 days

Slippage unknown: Deribit: no order-book sample; Aster: live order book, 48 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Aster live order book, 48 min ago	7.69 bp	24.9 bp −$25	doesn't fit	doesn't fit	doesn't fit

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-PERPETUALlong	−0.0308%	1h	0.7161	long leg	$42K	$18K	10x
HTX ETHFI-USDT	−0.0300%	4h	0.7147	−0.196%	$83K	$165K	20x	as long as short
Kraken Futures PF_ETHFIUSD	−0.0253%	1h	0.7168	+0.093%	$281K	$146K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0181%	4h	0.7155	−0.084%	$16K	$1K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.103%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERP	+0.0038%	8h	0.7147	−0.193%	$6K	—	5x	as long as short
Binance ETHFIUSDT	+0.0046%	4h	0.7159	−0.035%	$24.8M	$37.1M	75x	as long as short
Extended ETHFI-USD	+0.0048%	1h	0.7158	−0.048%	$93K	$493K	10x	as long as short
MEXC ETHFI_USDT	+0.0052%	4h	0.7159	−0.028%	$15.2M	$3.8M	125x	as long as short
Bitget ETHFIUSDT	+0.0080%	4h	0.7158	−0.042%	$6.1M	$5.7M	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	0.7164	+0.043%	$1.1M	$898K	5x	as long as short
Aevo ETHFI-PERP	+0.0096%	1h	0.7160	−0.014%	$9K	—	3x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7168	+0.099%	$18.1M	$8.9M	5x	as long as short
Aster ETHFIUSDTshort	+0.0100%	4h	0.7157	−0.053%	$183K	$258K	10x
Bybit ETHFIUSDT	+0.0100%	4h	0.7163	+0.028%	$18.2M	$13.0M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7165	+0.056%	$4.9M	$12.6M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7163	+0.028%	$1.7M	$2.1M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7157	−0.056%	$1.2M	$271K	50x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.7163	+0.028%	—	$25.9M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7161	−0.005%	$1.0M	$755K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7148	−0.179%	$59K	$93K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7151	−0.140%	$1K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0212%	4h	0.7144	−0.237%	$1.2M	$292K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0304%	1h	0.7176	+0.209%	$31K	$7K	50x	as long as short