Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0288%/8h= +31.5% APRpaid last 24h +0.077%

Price spread now: Coinbase International against MEXC+0.990%7-day average — · you sell dearer than you buy

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

Long on MEXC 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

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Coinbase International is 0.990% dearer against MEXC than usual: you sell high and buy low: +$99 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ETHFI_USDT	0.6971	0.0032	pay 0.0016% / 4h	1h 52m	$15.7M	$4.0M	125x
Short	Coinbase International ETHFI-PERP-INTX	0.7040	0.0320	get 0.0040% / 1h	52m 36s	$32K	$5K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now +0.990%Rate

Funding earned: $60.48
Price spread: +0.990% → 0.000%: $98.98
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $145.46
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: MEXC: live order book, 4 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 MEXC live order book, 4 min ago	0.72 bp	9.8 bp −$10	37.4 bp −$374	73.9 bp −$7,391	155.2 bp −$77.6K
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 exchanges

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	−0.0608%	1h	0.6983	+0.172%	$42K	$13K	10x	as long as short
Orderly PERP_ETHFI_USDC	−0.0308%	4h	0.6980	+0.129%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0165%	4h	0.6971	+0.003%	$930K	$711K	—	as long as short
Paradex ETHFI-USD-PERP	−0.0010%	8h	0.6969	−0.035%	$6K	—	5x	as long as short
HTX ETHFI-USDT	−0.0009%	4h	0.6967	−0.057%	$83K	$133K	20x	as long as short
Extended ETHFI-USD	+0.0032%	1h	0.6969	−0.033%	$110K	$499K	10x	as long as short
MEXC ETHFI_USDTlong	+0.0032%	4h	0.6971	long leg	$15.7M	$4.0M	125x
Binance ETHFIUSDT	+0.0033%	4h	0.6970	−0.014%	$24.5M	$32.0M	75x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+3.859%	$321	$51K	5.5x	as long as short
Bybit ETHFIUSDT	+0.0042%	4h	0.6970	−0.014%	$17.2M	$11.8M	25x	as long as short

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo ETHFI-PERP	+0.0088%	1h	0.6980	+0.129%	$8K	—	3x	as long as short
Lighter ETHFI	+0.0096%	1h	0.6982	+0.159%	$1.1M	$726K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.6979	+0.118%	$16.8M	$8.0M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.6980	+0.129%	$179K	$162K	10x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.6975	+0.057%	$5.1M	$12.2M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.6974	+0.043%	$1.7M	$1.7M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.6974	+0.043%	$1.2M	$180K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.6973	+0.029%	$6.2M	$3.7M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.6974	+0.043%	—	$1.2M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.6992	+0.301%	$53K	$148K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.6990	+0.273%	$2K	$1.0M	20x	as long as short
BloFin ETHFI-USDT	+0.0143%	4h	0.6984	+0.186%	$1.2M	$235K	75x	as long as short
Coinbase International ETHFI-PERP-INTXshort	+0.0320%	1h	0.7040	+0.990%	$32K	$5K	50x
Kraken Futures PF_ETHFIUSD	+0.0573%	1h	0.6992	+0.307%	$302K	$296K	20x	as long as short