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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 22:00 UTC+0.0206%/8h= +22.6% APRpaid last 24h +0.026%
Price spread now: Paradex against Injective+0.060%7-day average +0.036% · 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−$234as in the Price arb table
costs, in and out, $10k−$2362.360% of the position
Long on InjectiveShort on Paradex
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.023%+$2 on $10k
Price spread, last 3 days (all we have)+0.254%+$25 · spread now +0.060%, 7d avg +0.036%
Together, before fees+0.277%+ Points / potential airdropParadex: Active · farm board+$28 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Paradex is 0.024% dearer against Injective than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.036%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.023% in total (about 2.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective ETH/USDC PERP2,766.1−0.0107get 0.0013% / 1h36m 43s$119K$22.5M52x
ShortParadex ETH-USD-PERP2,767.80.0100get 0.0100% / 8h2h 36m$15.9M$10.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Paradex against Injective. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$43.33
Price spread: +0.060% → +0.036%
$2.44
Slippage, 4 orders
−$232
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee Paradex: 2 bp × 2 orders
−$4
Net
−$190.24
Costs to cover
2.360%
Break-even
37.7 days
Slippage from Injective: live order book, 2 min ago; Paradex: live order book, 2 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 Injective live order book, 2 min ago14.09 bp14.1 bp −$1414.1 bp −$14114.1 bp −$1,41020740.2 bp −$10.37M
Sell Paradex live order book, 2 min ago85.90 bp87.9 bp −$8887.9 bp −$879doesn't fitdoesn't fit

ETH on 55 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
Perpl ETH−0.0112%43m2,767.9+0.066%$289K$6.8M8.3xas long as short
Injective ETH/USDC PERPlong−0.0107%1h2,766.1long leg$119K$22.5M52x
Hotstuff ETH-PERP−0.0080%1h2,763.9−0.080%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0072%1h2,765.2−0.031%$10.4M$30.9M100xas long as short
01 Exchange ETHUSD−0.0064%1h2,767.8+0.061%$172K$1.2M50xas long as short
Phoenix ETH−0.0023%1h2,767.2+0.040%$795K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,767.8+0.060%$5.8M$11.9M25xas long as short
dYdX ETH-USD0.0000%1h2,765.6−0.020%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,768+0.067%$22.4M—200xas long as short
BingX ETH-USDT+0.0016%8h2,764.6−0.053%—$1.18B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAP+0.0022%8h2,763.9−0.080%$1.70B$11.82B100xas long as short
Aftermath Perps ETHUSD+0.0025%1h2,768.1+0.071%$29K$21K20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,767.8+0.063%$13.1M—200xas long as short
Phemex ETHUSDT+0.0029%8h2,767+0.033%$266.3M$66.0M150xas long as short
Aster ETHUSDT+0.0039%8h2,764.8−0.046%$255.6M$995.2M200xas long as short
MEXC ETH_USDT+0.0045%8h2,764.7−0.050%$1.62B$2.65B500xas long as short
Deribit ETH-PERPETUAL+0.0046%1h2,768.6+0.090%$258.4M$224.4M50xas long as short
Binance ETHUSDT+0.0046%8h2,764.2−0.067%$6.41B$17.19B150xas long as short
Aevo ETH-PERP+0.0048%1h2,765.1−0.037%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0063%8h2,764.9−0.044%$3.28B$9.60B200xas long as short
Bitget ETHUSDT+0.0074%8h2,764.4−0.060%$2.09B$3.13B150xas long as short
Bullet ETH-USD+0.0085%1h2,767+0.033%$183K$1.8M20xas long as short
Variational Omni ETH+0.0091%8h2,765.4−0.026%$140.3M$319.1M—as long as short
Lighter ETH+0.0096%1h2,764.6−0.053%$115.1M$511.3M50xas long as short
Lighter RH ETH+0.0096%1h2,766−0.003%$25.3M$122.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,768.4+0.082%—$41.7M500xas long as short
Paradex ETH-USD-PERPshort+0.0100%8h2,767.8+0.060%$15.9M$10.9M50x
Katana Perps ETH-USD+0.0100%8h2,767.8+0.061%$481K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,767.5+0.051%$14.8M$116.7M50xas long as short
Hyperliquid ETH+0.0100%1h2,767.4+0.047%$3.18B$2.38B25xas long as short
Pacifica ETH+0.0100%1h2,768.1+0.072%$31.2M$285.6M50xas long as short
Bybit ETHUSDT+0.0100%8h2,764.1−0.073%$2.50B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,767.4+0.047%$2.8M$16.5M25xas long as short
Arcus ETH-USD+0.0100%1h2,769.6+0.128%$2.7M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,765.5−0.020%$164.9M$254.7M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,765.1−0.037%$424.2M$741.8M100xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,767.2+0.039%$15.3M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,763.9−0.079%$177.7M$791.0M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,765.7−0.014%$160.8M$97.4M50xas long as short
StandX ETH-USD+0.0100%1h2,765.1−0.036%$21.3M$57.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,767.8+0.062%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,768.7+0.094%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,768.5+0.085%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,769.5+0.124%$42.6M$29.2M15xas long as short
SunX ETH-USDT+0.0100%8h2,766.2+0.005%$971K$14.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,766.8+0.025%$55.1M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,766.6+0.018%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,764.1−0.074%$31.4M$76.2M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,768.3+0.078%$60.2M$4.62B50xas long as short
Kalshi KXETHPERP+0.0118%8h2,768.5+0.087%$8.6M$671.9M4.9xas long as short
Orderly PERP_ETH_USDC+0.0131%8h2,770+0.141%$32.5M$11.9M100xas long as short
BloFin ETH-USDT+0.0165%8h2,766.7+0.021%$286.2M$194.2M150xas long as short
Reya ETHRUSDPERP+0.0186%1h2,766.3+0.006%$7.5M$992K25xas long as short
Kraken Futures PF_ETHUSD+0.0241%1h2,768+0.070%$87.9M$329.7M100xas long as short
Hibachi ETH/USDT-P+0.0416%1h2,767.6+0.054%$272K$1.5M20xas long as short