ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0053%/8h= −5.8% APRnext payment −$0.53 per $10,000 · paid last 24h +0.017%

Price spread now: Paradex against Kalshi+0.182%7-day average +0.060% · 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−$9as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on Kalshi Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.064%+$6 on $10k

Price spread, last 7 days−0.187%−$19 · spread now +0.182%, 7d avg +0.060%

Together, before fees−0.124%+ Points / potential airdropParadex: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Paradex is 0.122% dearer against Kalshi than usual: you sell high and buy low (spread +0.182% now, against its 7-day average of +0.060%): +$12 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.6 days. Mind the row above: over the last 4 days funding on this pair paid +0.064%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXETHPERP	2,730.9	0.0152	pay 0.0152% / 8h	43m 06s	$6.3M	$677.0M	4.9x
Short	Paradex ETH-USD-PERP	2,735.9	0.0099	get 0.0099% / 8h	4h 43m	$15.6M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Kalshi. 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 KalshibpFee ParadexbpOrdersPrice spread, now +0.182%Rate

Funding earned: −$11.17
Price spread: +0.182% → +0.060%: $12.2
Slippage, 4 orders: −$7.35
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$20.31
Costs to cover: 0.213%
Break-even: never at this rate

Slippage from Kalshi: live order book, 6 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 Kalshi live order book, 6 min ago	0.92 bp	6.3 bp −$6	6.6 bp −$66	9.9 bp −$993	15.2 bp −$7,614
Sell Paradex live order book, 1 min ago	2.16 bp	4.2 bp −$4	4.2 bp −$42	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	2,730	−0.031%	$298K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,732.2	+0.048%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,731.7	+0.029%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,729.6	−0.046%	$11.9M	—	200x	as long as short
ApeX Omni ETHUSDT	−0.0005%	1h	2,729.9	−0.038%	$8.9M	$31.3M	100x	as long as short
dYdX ETH-USD	0.0000%	1h	2,732.3	+0.052%	$10.7M	$41.7M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,731.2	+0.011%	$188K	$841K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,728.1	−0.103%	$830K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,729.6	−0.046%	$26.2M	—	200x	as long as short
Bullet ETH-USD	+0.0009%	1h	2,728.8	−0.077%	$181K	$1.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX ETH-USD	+0.0050%	1h	2,727.6	−0.121%	$54.3M	$187.6M	40x	as long as short
Deribit ETH-PERPETUAL	+0.0054%	1h	2,729	−0.070%	$260.1M	$196.8M	50x	as long as short
BingX ETH-USDC	+0.0057%	8h	2,727.5	−0.125%	—	$18.4M	—	as long as short
KuCoin ETHUSDTM	+0.0071%	8h	2,727.4	−0.129%	$380.0M	$575.6M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0073%	8h	2,728	−0.107%	$1.66B	$10.69B	100x	as long as short
Aster ETHUSDT	+0.0080%	8h	2,730	−0.032%	$252.1M	$844.2M	200x	as long as short
HTX ETH-USDT	+0.0085%	8h	2,726.8	−0.152%	$1.05B	$1.19B	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,726.2	−0.172%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDT	+0.0089%	8h	2,727.5	−0.124%	$1.52B	$2.55B	500x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,727.8	−0.112%	$6.34B	$15.86B	150x	as long as short
Bybit ETHUSDT	+0.0094%	8h	2,727.1	−0.138%	$2.39B	$4.34B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,727.8	−0.112%	$111.9M	$435.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,729	−0.071%	$23.2M	$105.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,732.8	+0.069%	—	$30.6M	500x	as long as short
Paradex ETH-USD-PERPshort	+0.0099%	8h	2,735.9	+0.182%	$15.6M	$8.0M	50x
RISEx ETH/USDC	+0.0099%	1h	2,731.6	+0.024%	$5.6M	$11.5M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,731	+0.004%	$498K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,732.1	+0.044%	$13.8M	$104.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,729.7	−0.044%	$3.10B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,733.2	+0.084%	$31.6M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,731	+0.004%	$2.7M	$17.0M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,732	+0.041%	$2.8M	$16.2M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,728	−0.108%	$3.34B	$8.81B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,727.9	−0.111%	$2.07B	$2.75B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,727	−0.142%	$14.9M	$39.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,728.4	−0.092%	$133.1M	$325.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,726.2	−0.172%	$182.6M	$671.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,730.7	−0.009%	$158.9M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,731	+0.004%	$21.1M	$69.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,731.2	+0.012%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,731.5	+0.022%	$11.1M	$9.1M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,729.4	−0.055%	$41.2M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,728	−0.105%	$957K	$11.4M	100x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,728	−0.106%	$265.2M	$65.5M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,730.9	0.000%	$166.8M	$318.0M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,726.6	−0.157%	$30.4M	$72.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,729.3	−0.060%	$51.8M	$4.26B	50x	as long as short
Aftermath Perps ETHUSD	+0.0119%	1h	2,732.4	+0.056%	$30K	$20K	20x	as long as short
Kalshi KXETHPERPlong	+0.0152%	8h	2,730.9	long leg	$6.3M	$677.0M	4.9x
Orderly PERP_ETH_USDC	+0.0193%	8h	2,729.8	−0.041%	$32.1M	$11.6M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,728.2	−0.098%	$84.5M	$313.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0223%	1h	2,728.6	−0.085%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,732.7	+0.068%	$254K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0333%	8h	2,728.7	−0.079%	$284.6M	$174.8M	150x	as long as short
Bluefin ETH-PERP	+0.0464%	1h	2,728.5	−0.090%	$21K	$20K	25x	as long as short