Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0260%/8h= +28.4% APRpaid last 24h +0.054%

Price spread now: Extended against Orderly−0.079%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Extended

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 airdropExtended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.079% cheaper against Orderly than usual: you would sell low and buy high (spread −0.079% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 24 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ETHFI_USDC	0.7140	−0.0172	get 0.0086% / 4h	2h 09m	$16K	$1K	10x
Short	Extended ETHFI-USD	0.7134	0.0088	get 0.0011% / 1h	9m 55s	$92K	$495K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Orderly. 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 OrderlybpFee ExtendedbpOrdersPrice spread, now −0.079%Rate

Funding earned: $54.54
Price spread: −0.079% → 0.000%: −$7.89
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $35.65
Costs to cover: 0.110%
Break-even: 2.4 days

Slippage unknown: Orderly: no order-book sample; Extended: live order book, 13 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 Orderly no order-book sample	—	—	—	—	—
Sell Extended live order book, 13 min ago	1.89 bp	17.7 bp −$18	181.6 bp −$1,816	doesn't fit	doesn't fit

Orderly: 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	−0.0589%	1h	0.7145	+0.070%	$42K	$18K	10x	as long as short
HTX ETHFI-USDT	−0.0254%	4h	0.7128	−0.168%	$83K	$165K	20x	as long as short
Kraken Futures PF_ETHFIUSD	−0.0213%	1h	0.7153	+0.179%	$281K	$145K	20x	as long as short
Orderly PERP_ETHFI_USDClong	−0.0172%	4h	0.7140	long leg	$16K	$1K	10x
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.401%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERP	+0.0041%	8h	0.7140	+0.006%	$6K	—	5x	as long as short
Bitget ETHFIUSDT	+0.0044%	4h	0.7132	−0.112%	$6.1M	$5.6M	75x	as long as short
Binance ETHFIUSDT	+0.0086%	4h	0.7132	−0.112%	$24.8M	$37.0M	75x	as long as short
Extended ETHFI-USDshort	+0.0088%	1h	0.7134	−0.079%	$92K	$495K	10x
MEXC ETHFI_USDT	+0.0088%	4h	0.7134	−0.084%	$15.1M	$3.9M	125x	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	0.7146	+0.090%	$1.1M	$909K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7142	+0.025%	$18.1M	$8.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7146	+0.089%	$183K	$255K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7143	+0.042%	$18.3M	$12.8M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7140	0.000%	$4.9M	$12.4M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7140	0.000%	$1.7M	$2.1M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7138	−0.028%	$1.2M	$270K	50x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7140	0.000%	—	$1.2M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7143	+0.047%	$1.0M	$729K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7146	+0.084%	$60K	$85K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7149	+0.126%	$2K	$1.1M	20x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7140	−0.002%	$9K	—	3x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0152%	1h	0.7165	+0.350%	$31K	$9K	50x	as long as short
BloFin ETHFI-USDT	+0.0329%	4h	0.7129	−0.154%	$1.3M	$293K	75x	as long as short