Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h +0.025%

Price spread now: Aster against Injective−3.299%57s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 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 3.299% cheaper against Injective than usual: you would sell low and buy high (spread −3.299% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$330 on $10k: about 17 months of funding at the current rate (+$1 a day). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ETHFI/USDC PERP	0.7240	0.0033	pay 0.0004% / 1h	16m 15s	$321	$51K	5.5x
Short	Aster ETHFIUSDT	0.7001	0.0055	get 0.0028% / 4h	3h 16m	$179K	$228K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now −3.299%Rate

Funding earned: $4.63
Price spread: −3.299% → 0.000%: −$329.87
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$333.26
Costs to cover: 0.080%
Break-even: 510.4 days

Slippage unknown: Injective: no order-book sample; Aster: live order book, 15 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 Injective no order-book sample	—	—	—	—	—
Sell Aster live order book, 15 min ago	2.88 bp	14.8 bp −$15	doesn't fit	doesn't fit	doesn't fit

Injective: 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	−0.0464%	1h	0.6998	−3.343%	$41K	$12K	10x	as long as short
HTX ETHFI-USDT	−0.0330%	4h	0.6985	−3.522%	$83K	$144K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0277%	4h	0.6994	−3.398%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0229%	4h	0.6992	−3.419%	$932K	$790K	—	as long as short
Paradex ETHFI-USD-PERP	−0.0059%	8h	0.6990	−3.452%	$6K	—	5x	as long as short
Injective ETHFI/USDC PERPlong	+0.0033%	1h	0.7240	long leg	$321	$51K	5.5x
MEXC ETHFI_USDT	+0.0054%	4h	0.7000	−3.315%	$15.8M	$4.3M	125x	as long as short
Binance ETHFIUSDT	+0.0055%	4h	0.6996	−3.368%	$24.5M	$35.4M	75x	as long as short
Aster ETHFIUSDTshort	+0.0055%	4h	0.7001	−3.299%	$179K	$228K	10x
Extended ETHFI-USD	+0.0056%	1h	0.6993	−3.413%	$95K	$501K	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	0.7005	−3.240%	$1.1M	$836K	5x	as long as short
Aevo ETHFI-PERP	+0.0096%	1h	0.6996	−3.366%	$8K	—	3x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7004	−3.264%	$16.7M	$8.6M	5x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.6998	−3.343%	$17.1M	$12.7M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.6997	−3.356%	$5.1M	$12.5M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7003	−3.273%	$1.7M	$1.9M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7004	−3.260%	$1.2M	$209K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.6995	−3.384%	$6.1M	$4.2M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.6999	−3.329%	—	$1.2M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7007	−3.218%	$53K	$148K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7004	−3.260%	$2K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0219%	4h	0.6992	−3.425%	$1.2M	$233K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0336%	1h	0.7020	−3.039%	$32K	$6K	50x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0862%	1h	0.7011	−3.166%	$298K	$294K	20x	as long as short