Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Ondo Perps against Paradex−0.062%7-day average −0.072% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Ondo Perps

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−0.177%−$18 · spread now −0.062%, 7d avg −0.072%

Together, before fees−0.167%+ Points / potential airdropParadex: Active · Ondo Perps: Active · farm board−$17 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,781	0.0100	pay 0.0100% / 8h	1h 42m	$16.0M	$10.5M	50x
Short	Ondo Perps ETH-USD.P	2,779.3	0.0100	get 0.0013% / 1h	42m 29s	$2.8M	$16.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Paradex. 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 ParadexbpFee Ondo PerpsbpOrdersPrice spread, now −0.062%Rate

Funding earned: $0.08
Price spread: −0.062% → −0.072%: $0.92
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$8
Costs to cover: 0.090%
Break-even: 679.9 days

Slippage unknown: Paradex: live order book, 2 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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 Paradex live order book, 2 min ago	61.49 bp	72.0 bp −$72	92.4 bp −$924	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	2,776.6	−0.161%	$289K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,780.4	−0.022%	$5.8M	$12.0M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,778.1	−0.106%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,775.7	−0.192%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,781.1	+0.002%	$170K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0020%	1h	2,775	−0.218%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,781.6	+0.019%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,774.2	−0.246%	$885K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,777.5	−0.127%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0012%	8h	2,777	−0.144%	$267.4M	$65.7M	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0017%	8h	2,780.3	−0.025%	—	$1.18B	—	as long as short
OKX ETH-USDT-SWAP	+0.0019%	8h	2,780.1	−0.033%	$1.71B	$11.83B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,777.3	−0.135%	$13.2M	—	200x	as long as short
Aster ETHUSDT	+0.0034%	8h	2,780.2	−0.029%	$257.0M	$989.7M	200x	as long as short
Bullet ETH-USD	+0.0036%	1h	2,776.4	−0.165%	$182K	$1.8M	20x	as long as short
Nado ETH-PERP	+0.0039%	1h	2,780.1	−0.035%	$14.3M	$117.8M	50x	as long as short
MEXC ETH_USDT	+0.0056%	8h	2,780.6	−0.016%	$1.62B	$2.64B	500x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,774.6	−0.231%	$5.0M	$636K	20x	as long as short
Binance ETHUSDT	+0.0056%	8h	2,780.3	−0.028%	$6.46B	$17.10B	150x	as long as short
Bitget ETHUSDT	+0.0073%	8h	2,780.3	−0.027%	$2.11B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0079%	8h	2,780.1	−0.033%	$3.29B	$9.56B	200x	as long as short
Deribit ETH-PERPETUAL	+0.0081%	1h	2,778.8	−0.081%	$258.4M	$221.6M	50x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,777.4	−0.131%	$1.08B	$1.31B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,780.5	−0.020%	$115.1M	$497.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,782.9	+0.066%	$25.5M	$120.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,777.4	−0.130%	—	$41.3M	500x	as long as short
Bybit ETHUSDT	+0.0096%	8h	2,780.2	−0.029%	$2.53B	$4.59B	150x	as long as short
SoDEX ETH-USD	+0.0098%	1h	2,777.1	−0.141%	$55.3M	$228.7M	40x	as long as short
Paradex ETH-USD-PERPlong	+0.0100%	8h	2,781	long leg	$16.0M	$10.5M	50x
Katana Perps ETH-USD	+0.0100%	8h	2,780.6	−0.016%	$482K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,782.9	+0.067%	$3.20B	$2.39B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,780.9	−0.005%	$31.3M	$295.5M	50x	as long as short
Ondo Perps ETH-USD.Pshort	+0.0100%	1h	2,779.3	−0.062%	$2.8M	$16.8M	25x
Arcus ETH-USD	+0.0100%	1h	2,782.2	+0.043%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.6	−0.375%	$166.0M	$246.3M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,781	−0.003%	$426.4M	$737.5M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,778.8	−0.082%	$15.2M	$44.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,773.8	−0.259%	$135.8M	$327.0M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,775.5	−0.198%	$179.9M	$780.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,776.5	−0.162%	$161.5M	$93.1M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,776.6	−0.161%	$8.7M	$32.6M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,776.2	−0.174%	$21.4M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,780.4	−0.023%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,781.6	+0.020%	$10.8M	$7.7M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,779.3	−0.063%	$42.8M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,776.2	−0.174%	$975K	$14.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,779.9	−0.041%	$31.4M	$74.6M	50x	as long as short
Hibachi ETH/USDT-P	+0.0104%	1h	2,778.9	−0.077%	$281K	$1.5M	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,778.7	−0.084%	$60.1M	$4.60B	50x	as long as short
Kalshi KXETHPERP	+0.0110%	8h	2,778.2	−0.102%	$8.6M	$672.9M	4.9x	as long as short
Bluefin ETH-PERP	+0.0125%	1h	2,777.6	−0.124%	$21K	$24K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0139%	8h	2,779.4	−0.059%	$32.6M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0169%	1h	2,778.5	−0.091%	$86.2M	$330.4M	100x	as long as short
BloFin ETH-USDT	+0.0176%	8h	2,778	−0.111%	$285.6M	$194.6M	150x	as long as short
Reya ETHRUSDPERP	+0.0189%	1h	2,780.6	−0.016%	$7.4M	$1.1M	25x	as long as short