ETHFI

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0014%/8h= +1.6% APRnext payment +$0.07 per $10,000 · paid last 24h +0.049%

Price spread now: Variational Omni against Orderly−0.296%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.296% cheaper against Orderly than usual: you would sell low and buy high (spread −0.296% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$30 on $10k: about 2 months of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ETHFI_USDC	0.6969	−0.0284	get 0.0142% / 4h	3h 51m	$16K	$1K	10x
Short	Variational Omni ETHFI	0.6948	−0.0269	pay 0.0135% / 4h	3h 51m	$915K	$785K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.296%Rate

Funding earned: $3.02
Price spread: −0.296% → 0.000%: −$29.63
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$32.6
Costs to cover: 0.060%
Break-even: 82.5 days

Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 17 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 Variational Omni RFQ quote, 17 min ago	5.03 bp	doesn't fit	35.2 bp −$352	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	−0.0467%	1h	0.6967	−0.029%	$41K	$12K	10x	as long as short
Bybit ETHFIUSDT	−0.0419%	4h	0.6965	−0.057%	$17.1M	$12.9M	25x	as long as short
HTX ETHFI-USDT	−0.0332%	4h	0.6963	−0.086%	$83K	$149K	20x	as long as short
Orderly PERP_ETHFI_USDClong	−0.0284%	4h	0.6969	long leg	$16K	$1K	10x
Variational Omni ETHFIshort	−0.0269%	4h	0.6948	−0.296%	$915K	$785K	—
Paradex ETHFI-USD-PERP	−0.0124%	8h	0.6963	−0.083%	$6K	—	5x	as long as short
Extended ETHFI-USD	0.0000%	1h	0.6960	−0.133%	$95K	$505K	10x	as long as short
MEXC ETHFI_USDT	0.0000%	4h	0.6963	−0.086%	$15.9M	$4.1M	125x	as long as short
Binance ETHFIUSDT	+0.0001%	4h	0.6963	−0.086%	$24.3M	$36.0M	75x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+3.889%	$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	+0.0080%	1h	0.6962	−0.100%	$8K	—	3x	as long as short
Lighter ETHFI	+0.0096%	1h	0.6975	+0.086%	$1.1M	$825K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.6971	+0.030%	$16.7M	$8.6M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.6973	+0.060%	$178K	$223K	10x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.6970	+0.014%	$5.1M	$12.6M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.6971	+0.029%	$1.7M	$1.9M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.6970	+0.014%	$1.2M	$214K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.6966	−0.043%	$6.1M	$4.7M	75x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.6966	−0.043%	—	$10.7M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.6980	+0.158%	$52K	$149K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.6985	+0.230%	$2K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0200%	4h	0.6975	+0.086%	$1.2M	$232K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0336%	1h	0.6990	+0.301%	$32K	$6K	50x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0865%	1h	0.6982	+0.180%	$291K	$283K	20x	as long as short