Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.005%

Price spread now: Paradex against Aevo+0.023%7-day average +0.160% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$215as in the Price arb table

costs, in and out, $10k−$2012.014% of the position

Long on Aevo Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.017%+$2 on $10k

Price spread, last 3 days (all we have)+0.250%+$25 · spread now +0.023%, 7d avg +0.160%

Together, before fees+0.266%+ Points / potential airdropParadex: Active · farm board+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. Paradex is 0.137% cheaper against Aevo than usual: you would sell low and buy high (spread +0.023% now, against its 7-day average of +0.160%). If the spread goes back, that is −$14 on $10k: about 10 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.017% in total) that is about 30 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ETH-PERP	2,772.2	0.0056	pay 0.0007% / 1h	53m 29s	$5.0M	$636K	20x
Short	Paradex ETH-USD-PERP	2,772.8	0.0100	get 0.0100% / 8h	1h 53m	$15.9M	$10.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Aevo. 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 AevobpFee ParadexbpOrdersPrice spread, now +0.023%Rate

Funding earned: $9.14
Price spread: +0.023% → +0.160%: −$13.71
Slippage, 4 orders: −$181.42
Fee Aevo: 8 bp × 2 orders: −$16
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$205.98
Costs to cover: 2.014%
Break-even: 164.7 days

Slippage from Aevo: live order book, 1 min ago; Paradex: live order book, 1 min ago.

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 Aevo live order book, 1 min ago	4.15 bp	12.6 bp −$13	37.7 bp −$377	97.4 bp −$9,740	doesn't fit
Sell Paradex live order book, 1 min ago	68.60 bp	70.6 bp −$71	70.6 bp −$706	doesn't fit	doesn't fit

ETH on 55 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
Perpl ETH	−0.0447%	43m	2,772.5	+0.011%	$290K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,772.2	0.000%	$5.7M	$12.1M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,774.7	+0.090%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,773.8	+0.057%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,772.6	+0.014%	$169K	$1.2M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,774.3	+0.075%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,775.6	+0.122%	$886K	$3.7M	25x	as long as short
Aftermath Perps ETHUSD	+0.0006%	1h	2,772.8	+0.023%	$29K	$22K	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,774.3	+0.074%	$22.4M	—	200x	as long as short
BingX ETH-USDT	+0.0018%	8h	2,772.2	0.000%	—	$1.18B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0022%	8h	2,772	−0.007%	$1.71B	$11.87B	100x	as long as short
Phemex ETHUSDT	+0.0023%	8h	2,773.2	+0.034%	$267.2M	$65.9M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,774.4	+0.078%	$13.2M	—	200x	as long as short
Hibachi ETH/USDT-P	+0.0032%	1h	2,776.1	+0.142%	$276K	$1.5M	20x	as long as short
Aster ETHUSDT	+0.0033%	8h	2,773.6	+0.049%	$256.5M	$993.6M	200x	as long as short
Nado ETH-PERP	+0.0038%	1h	2,772.5	+0.011%	$14.3M	$118.9M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0042%	1h	2,774.9	+0.097%	$258.4M	$225.0M	50x	as long as short
Bullet ETH-USD	+0.0045%	1h	2,771.4	−0.029%	$182K	$1.8M	20x	as long as short
Binance ETHUSDT	+0.0054%	8h	2,772.7	+0.016%	$6.43B	$17.19B	150x	as long as short
MEXC ETH_USDT	+0.0054%	8h	2,772.8	+0.022%	$1.61B	$2.63B	500x	as long as short
Aevo ETH-PERPlong	+0.0056%	1h	2,772.2	long leg	$5.0M	$636K	20x
Bitget ETHUSDT	+0.0074%	8h	2,771.5	−0.025%	$2.10B	$3.12B	150x	as long as short
Gate ETH_USDT	+0.0080%	8h	2,773	+0.027%	$3.29B	$9.54B	200x	as long as short
SoDEX ETH-USD	+0.0092%	1h	2,773.2	+0.036%	$55.2M	$228.6M	40x	as long as short
Lighter ETH	+0.0096%	1h	2,773.3	+0.040%	$115.0M	$495.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,774.8	+0.092%	$25.4M	$120.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,776.8	+0.166%	—	$41.7M	500x	as long as short
Variational Omni ETH	+0.0098%	8h	2,772.1	−0.002%	$135.2M	$326.5M	—	as long as short
HTX ETH-USDT	+0.0098%	8h	2,773.5	+0.045%	$1.08B	$1.32B	200x	as long as short
Paradex ETH-USD-PERPshort	+0.0100%	8h	2,772.8	+0.023%	$15.9M	$10.6M	50x
Katana Perps ETH-USD	+0.0100%	8h	2,772.9	+0.025%	$481K	$2.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,774.7	+0.090%	$3.19B	$2.38B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,773.3	+0.039%	$31.2M	$293.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,772.6	+0.015%	$2.51B	$4.63B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,772.5	+0.010%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,774.2	+0.072%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,771	−0.045%	$164.2M	$249.6M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,773.1	+0.033%	$424.1M	$740.7M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,773.2	+0.035%	$15.2M	$44.0M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,774.2	+0.071%	$179.8M	$779.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,776.1	+0.141%	$161.5M	$95.8M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,776.3	+0.147%	$8.7M	$32.7M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,775.5	+0.119%	$21.4M	$57.9M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,773.5	+0.047%	$10.8M	$7.7M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,774.7	+0.090%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,775.8	+0.130%	$42.7M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,774.9	+0.098%	$972K	$14.1M	100x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,773.3	+0.039%	—	$1.1M	50x	as long as short
Extended ETH-USD	+0.0104%	1h	2,771.7	−0.017%	$31.4M	$75.3M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,774.5	+0.083%	$59.9M	$4.62B	50x	as long as short
Kalshi KXETHPERP	+0.0109%	8h	2,776.8	+0.166%	$8.6M	$673.7M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0137%	8h	2,776.2	+0.144%	$32.6M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,774.1	+0.067%	$86.2M	$331.6M	100x	as long as short
BloFin ETH-USDT	+0.0173%	8h	2,775.7	+0.125%	$286.5M	$195.2M	150x	as long as short
Reya ETHRUSDPERP	+0.0187%	1h	2,771.5	−0.025%	$7.3M	$1.1M	25x	as long as short