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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Paradex against Backpack+0.156%7-day average +0.032% · 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−$4as in the Price arb table
costs, in and out, $10k−$170.169% of the position
Long on BackpackShort on Paradex
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.009%−$1 on $10k
Price spread, last 7 days+0.853%+$85 · spread now +0.156%, 7d avg +0.032%
Together, before fees+0.844%+ Points / potential airdropParadex: Active · farm board+$84 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.125% dearer against Backpack than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.032%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack ETH_USDC_PERP2,732.40.0100pay 0.0013% / 1h8m 15s$15.1M$41.8M50x
ShortParadex ETH-USD-PERP2,736.60.0100get 0.0100% / 8h1h 08m$15.4M$7.8M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Paradex against Backpack. 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

Funding earned
−$0.01
Price spread: +0.156% → +0.032%
$12.46
Slippage, 4 orders
−$2.91
Fee Backpack: 5 bp × 2 orders
−$10
Fee Paradex: 2 bp × 2 orders
−$4
Net
−$4.46
Costs to cover
0.169%
Break-even
never at this rate
Slippage from Backpack: 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
LegHalf-spread$10k$100k$1M$5M
Buy Backpack live order book, 1 min ago0.02 bp5.0 bp −$57.0 bp −$7029.8 bp −$2,976doesn't fit
Sell Paradex live order book, 1 min ago0.75 bp4.1 bp −$45.6 bp −$56doesn't fitdoesn't fit

ETH on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hotstuff ETH-PERP−0.0080%1h2,732−0.013%$5K$1K50xas long as short
Injective ETH/USDC PERP−0.0040%1h2,733.1+0.027%$117K$22.5M52xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,732.8+0.017%$11.9M—200xas long as short
Phoenix ETH−0.0006%1h2,733.1+0.027%$813K$3.0M25xas long as short
dYdX ETH-USD0.0000%1h2,732.40.000%$10.5M$42.9M50xas long as short
Kalshi KXETHPERP0.0000%8h2,732.4+0.002%$6.6M$683.3M4.9xas long as short
Perpl ETH0.0000%43m2,732−0.011%$288K$5.8M8.3xas long as short
Deribit ETH-PERPETUAL0.0000%1h2,733.5+0.041%$262.6M$213.3M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0006%1h2,732.8+0.017%$33.0M—200xas long as short
ApeX Omni ETHUSDT+0.0012%1h2,731.7−0.025%$8.6M$31.5M100xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
01 Exchange ETHUSD+0.0016%1h2,732.2−0.005%$191K$889K50xas long as short
BingX ETH-USDC+0.0024%8h2,731.4−0.034%—$18.6M—as long as short
HTX ETH-USDT+0.0027%8h2,732.30.000%$1.05B$1.22B200xas long as short
Bybit ETHUSDT+0.0028%8h2,732.2−0.007%$2.34B$4.38B150xas long as short
KuCoin ETHUSDTM+0.0068%8h2,731.9−0.016%$379.4M$576.7M100xas long as short
SoDEX ETH-USD+0.0072%1h2,732.4+0.002%$54.4M$187.1M40xas long as short
OKX ETH-USDT-SWAP+0.0081%8h2,732.3−0.004%$1.65B$10.87B100xas long as short
Aster ETHUSDT+0.0083%8h2,732.3−0.001%$253.1M$846.8M200xas long as short
Bullet ETH-USD+0.0089%1h2,732.6+0.008%$189K$1.7M20xas long as short
Phemex ETHUSDT+0.0090%8h2,732.3−0.003%$263.1M$64.5M150xas long as short
MEXC ETH_USDT+0.0095%8h2,732.5+0.006%$1.54B$2.61B500xas long as short
Binance ETHUSDT+0.0095%8h2,732.6+0.008%$6.33B$16.11B150xas long as short
Lighter ETH+0.0096%1h2,732.2−0.005%$112.8M$438.8M50xas long as short
Lighter RH ETH+0.0096%1h2,733.3+0.036%$23.5M$103.4M50xas long as short
Aevo ETH-PERP+0.0096%1h2,729.7−0.095%$4.9M$171K20xas long as short
Aftermath Perps ETHUSD+0.0099%1h2,733.2+0.030%$30K$20K20xas long as short
Katana Perps ETH-USD+0.0100%8h2,731.4−0.035%$502K$3.5M50xas long as short
Paradex ETH-USD-PERPshort+0.0100%8h2,736.6+0.156%$15.4M$7.8M50x
Nado ETH-PERP+0.0100%1h2,731.4−0.033%$14.1M$104.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,734.2+0.068%$3.11B$2.04B25xas long as short
Pacifica ETH+0.0100%1h2,732.5+0.006%$32.0M$332.9M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,731.6−0.027%$2.7M$16.8M25xas long as short
Arcus ETH-USD+0.0100%1h2,732.4+0.002%$1.5M$16.1M25xas long as short
Bulk ETH-USD+0.0100%1h2,731.8−0.020%$164.2M$349.6M25xas long as short
Gate ETH_USDT+0.0100%8h2,732.6+0.008%$3.31B$9.04B200xas long as short
Bitget ETHUSDT+0.0100%8h2,732.4+0.002%$2.10B$2.77B150xas long as short
Backpack ETH_USDC_PERPlong+0.0100%1h2,732.4long leg$15.1M$41.8M50x
Variational Omni ETH+0.0100%8h2,731.2−0.042%$134.1M$321.9M—as long as short
edgeX ETHUSDC+0.0100%4h2,732.2−0.007%$185.8M$682.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,732−0.012%$158.8M$85.9M50xas long as short
StandX ETH-USD+0.0100%1h2,733+0.024%$21.0M$70.5M40xas long as short
Vest ETH-PERP+0.0100%1h2,733.7+0.048%—$445K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,733.6+0.046%$11.2M$9.5M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,732.8+0.016%$22K$21K25xas long as short
SunX ETH-USDT+0.0100%8h2,732.2−0.007%$959K$10.9M100xas long as short
Extended ETH-USD+0.0104%1h2,731.5−0.030%$30.4M$72.9M50xas long as short
Jupiter Perps ETH-PERPL +0.0104% / S +0.0056%1h2,732.2−0.004%—$30.4M500xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,733.7+0.048%$46.6M$4.31B50xas long as short
RISEx ETH/USDC+0.0115%1h2,732.3−0.001%$5.6M$11.6M25xas long as short
Hibachi ETH/USDT-P+0.0144%1h2,733+0.024%$243K$1.4M20xas long as short
Orderly PERP_ETH_USDC+0.0185%8h2,734.8+0.088%$32.2M$11.3M100xas long as short
Reya ETHRUSDPERP+0.0187%1h2,731.5−0.030%$7.3M$975K25xas long as short
Kraken Futures PF_ETHUSD+0.0210%1h2,733+0.023%$82.2M$309.8M100xas long as short
BloFin ETH-USDT+0.0381%8h2,732.4+0.003%$281.0M$175.4M150xas long as short