Third-party funding (TPF) in international arbitration has emerged as a significant mechanism for financing legal disputes, allowing parties with limited financial resources to pursue claims against well-funded opponents. While TPF enhances access to justice, it also raises critical ethical and procedural concerns, including conflicts of interest, transparency, and potential impacts on arbitral independence and impartiality. This paper examines the role of third-party funders in international arbitration, analyzing their influence on case strategy, settlement dynamics, and overall procedural fairness. Additionally, it explores the ethical implications of TPF, focusing on disclosure obligations, regulatory frameworks, and the potential risks of excessive funder control over proceedings. By assessing the evolving landscape of TPF, this study aims to provide insights into best practices and recommendations for ensuring a balanced and ethical approach to third-party funding in international arbitration.