Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0512%/8h= −56.1% APRpaid last 24h −0.095%

Price spread now: Kraken Futures against Gate+0.271%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1201.202% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.371%+$37 on $10k

Price spread, last 4 days (all we have)−0.222%−$22 · spread now +0.271%, 7d avg +0.050%

Together, before fees+0.149%+$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.221% dearer against Gate than usual: you sell high and buy low (spread +0.271% now, against its 7-day average of +0.050%): +$22 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 34 hours. Mind the row above: over the last 7 days funding on this pair paid +0.371%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ETHFI_USDT	0.6926	0.0100	pay 0.0050% / 4h	2h 33m	$1.7M	$2.0M	75x
Short	Kraken Futures PF_ETHFIUSD	0.6945	−0.0412	pay 0.0052% / 1h	33m 02s	$284K	$278K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.271%Rate

Funding earned: −$107.52
Price spread: +0.271% → +0.050%: $22.07
Slippage, 4 orders: −$95.21
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$205.67
Costs to cover: 1.202%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Kraken Futures: live order book, 15 min ago.

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 Gate live order book, 5 min ago	3.60 bp	29.5 bp −$30	268.3 bp −$2,683	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 15 min ago	12.19 bp	25.7 bp −$26	119.0 bp −$1,190	doesn't fit	doesn't fit

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	−0.0472%	1h	0.6923	−0.043%	$39K	$10K	10x	as long as short
HTX ETHFI-USDT	−0.0419%	4h	0.6912	−0.202%	$80K	$183K	20x	as long as short
Kraken Futures PF_ETHFIUSDshort	−0.0412%	1h	0.6945	+0.271%	$284K	$278K	20x
Bybit ETHFIUSDT	−0.0295%	4h	0.6922	−0.058%	$17.2M	$12.8M	25x	as long as short
Orderly PERP_ETHFI_USDC	−0.0264%	4h	0.6921	−0.072%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0121%	4h	0.6938	+0.179%	$906K	$762K	—	as long as short
Extended ETHFI-USD	−0.0032%	1h	0.6919	−0.106%	$94K	$502K	10x	as long as short
Binance ETHFIUSDT	−0.0028%	4h	0.6921	−0.076%	$24.0M	$35.7M	75x	as long as short
MEXC ETHFI_USDT	−0.0024%	4h	0.6921	−0.072%	$15.7M	$4.1M	125x	as long as short
Paradex ETHFI-USD-PERP	−0.0006%	8h	0.6920	−0.090%	$6K	—	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ETHFIUSDT	+0.0008%	4h	0.6931	+0.069%	$177K	$260K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+4.534%	$321	$51K	5.5x	as long as short
Aevo ETHFI-PERP	+0.0072%	1h	0.6916	−0.138%	$8K	—	3x	as long as short
Lighter ETHFI	+0.0096%	1h	0.6930	+0.061%	$1.1M	$831K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.6924	−0.033%	$16.8M	$8.4M	5x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.6927	+0.014%	$5.0M	$12.3M	20x	as long as short
Gate ETHFI_USDTlong	+0.0100%	4h	0.6926	long leg	$1.7M	$2.0M	75x
KuCoin ETHFIUSDTM	+0.0100%	4h	0.6920	−0.087%	$1.2M	$232K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.6920	−0.087%	$6.0M	$5.3M	75x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.6921	−0.072%	—	$8.8M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.6925	−0.010%	$62K	$127K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.6931	+0.072%	$1K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0212%	4h	0.6916	−0.144%	$1.2M	$236K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0376%	1h	0.7054	+1.848%	$31K	$5K	50x	as long as short