Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0172%/8h= +18.8% APRpaid last 24h +0.083%

Price spread now: Coinbase International against OKX+0.691%7-day average — · you sell dearer than you buy

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

Long on OKX 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 +$5 a day on $10k at the current rate, and Coinbase International is 0.691% dearer against OKX than usual: you sell high and buy low: +$69 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	OKX ETHFI-USDT-SWAP	0.6942	0.0100	pay 0.0050% / 4h	19m 59s	$5.1M	$12.6M	20x
Short	Coinbase International ETHFI-PERP-INTX	0.6990	0.0272	get 0.0034% / 1h	19m 59s	$32K	$6K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.691%Rate

Funding earned: $36.12
Price spread: +0.691% → 0.000%: $69.14
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $85.26
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: OKX: live order book, 3 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 OKX live order book, 3 min ago	0.72 bp	13.6 bp −$14	41.3 bp −$413	doesn't fit	doesn't fit
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 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
HTX ETHFI-USDT	−0.0414%	4h	0.6912	−0.432%	$82K	$150K	20x	as long as short
Deribit ETHFI_USDC-PERPETUAL	−0.0327%	1h	0.6934	−0.115%	$41K	$11K	10x	as long as short
Orderly PERP_ETHFI_USDC	−0.0292%	4h	0.6931	−0.158%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0201%	4h	0.6915	−0.385%	$911K	$785K	—	as long as short
Paradex ETHFI-USD-PERP	−0.0095%	8h	0.6925	−0.239%	$6K	—	5x	as long as short
Bybit ETHFIUSDT	−0.0064%	4h	0.6938	−0.058%	$17.1M	$13.0M	25x	as long as short
MEXC ETHFI_USDT	−0.0020%	4h	0.6933	−0.130%	$15.7M	$4.2M	125x	as long as short
Binance ETHFIUSDT	−0.0017%	4h	0.6935	−0.101%	$24.2M	$36.2M	75x	as long as short
Extended ETHFI-USD	−0.0016%	1h	0.6935	−0.099%	$94K	$503K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+4.293%	$321	$51K	5.5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo ETHFI-PERP	+0.0072%	1h	0.6930	−0.173%	$8K	—	3x	as long as short
Lighter ETHFI	+0.0096%	1h	0.6939	−0.037%	$1.1M	$828K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.6940	−0.030%	$16.6M	$8.7M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.6933	−0.125%	$177K	$253K	10x	as long as short
OKX ETHFI-USDT-SWAPlong	+0.0100%	4h	0.6942	long leg	$5.1M	$12.6M	20x
Gate ETHFI_USDT	+0.0100%	4h	0.6937	−0.072%	$1.7M	$2.0M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.6930	−0.173%	$1.2M	$224K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.6938	−0.058%	$6.1M	$4.8M	75x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.6933	−0.130%	—	$10.8M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.6936	−0.079%	$52K	$149K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.6923	−0.274%	$2K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0220%	4h	0.6923	−0.274%	$1.2M	$240K	75x	as long as short
Coinbase International ETHFI-PERP-INTXshort	+0.0272%	1h	0.6990	+0.691%	$32K	$6K	50x
Kraken Futures PF_ETHFIUSD	+0.0823%	1h	0.6943	+0.008%	$290K	$290K	20x	as long as short