Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Paradex−0.091%7-day average −0.040% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$180.182% of the position

Long on Paradex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.006%+$1 on $10k

Price spread, last 7 days+0.077%+$8 · spread now −0.091%, 7d avg −0.040%

Together, before fees+0.083%+ Points / potential airdropParadex: Active · farm board+$8 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: Polymarket Perps is 0.051% cheaper against Paradex than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,740	0.0099	pay 0.0099% / 8h	3h 32m	$15.6M	$8.0M	50x
Short	Polymarket Perps ETH-USD	2,737.5	0.0100	get 0.0013% / 1h	32m 17s	$11.2M	$9.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now −0.091%Rate

Funding earned: $0.11
Price spread: −0.091% → −0.040%: −$5.11
Slippage, 4 orders: −$6.18
Fee Paradex: 2 bp × 2 orders: −$4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$23.17
Costs to cover: 0.182%
Break-even: 1444.3 days

Slippage from Paradex: live order book, 2 min ago; Polymarket Perps: live order book, 2 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 Paradex live order book, 2 min ago	2.26 bp	4.3 bp −$4	4.3 bp −$43	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	0.18 bp	4.5 bp −$5	5.0 bp −$50	12.7 bp −$1,269	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	2,737	−0.110%	$297K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,736.8	−0.116%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,736.3	−0.135%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,737.1	−0.105%	$822K	$2.9M	25x	as long as short
HTX ETH-USDT	−0.0001%	8h	2,735.4	−0.168%	$1.06B	$1.20B	200x	as long as short
dYdX ETH-USD	+0.0004%	1h	2,737.1	−0.106%	$10.8M	$42.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,736.3	−0.134%	$28.1M	—	200x	as long as short
Bullet ETH-USD	+0.0028%	1h	2,735.8	−0.153%	$179K	$1.7M	20x	as long as short
BingX ETH-USDT	+0.0032%	8h	2,735.8	−0.153%	—	$1.15B	—	as long as short
Bybit ETHUSDT	+0.0041%	8h	2,735.4	−0.169%	$2.37B	$4.37B	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ETHUSDT	+0.0044%	1h	2,737.4	−0.094%	$8.7M	$31.2M	100x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,736.5	−0.127%	$187K	$816K	50x	as long as short
Deribit ETH-PERPETUAL	+0.0064%	1h	2,737	−0.108%	$259.5M	$200.1M	50x	as long as short
KuCoin ETHUSDTM	+0.0067%	8h	2,735.8	−0.153%	$381.2M	$573.8M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,735.5	−0.164%	$1.67B	$10.74B	100x	as long as short
Phemex ETHUSDT	+0.0078%	8h	2,735.8	−0.152%	$265.2M	$65.1M	150x	as long as short
SunX ETH-USDT	+0.0084%	8h	2,734.8	−0.191%	$960K	$11.2M	100x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,735.7	−0.156%	$251.3M	$842.2M	200x	as long as short
MEXC ETH_USDT	+0.0092%	8h	2,735.7	−0.158%	$1.55B	$2.56B	500x	as long as short
Binance ETHUSDT	+0.0093%	8h	2,735.8	−0.154%	$6.36B	$15.89B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,736.1	−0.142%	$112.9M	$432.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,737.4	−0.096%	$23.4M	$104.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,737.5	−0.090%	—	$30.9M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,734.5	−0.199%	$4.9M	$155K	20x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,737.8	−0.080%	$117K	$22.5M	52x	as long as short
Paradex ETH-USD-PERPlong	+0.0099%	8h	2,740	long leg	$15.6M	$8.0M	50x
Katana Perps ETH-USD	+0.0100%	8h	2,736.1	−0.142%	$505K	$3.3M	50x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,735.8	−0.153%	$54.5M	$187.7M	40x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,737.3	−0.096%	$13.8M	$104.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,738.3	−0.062%	$3.11B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,737.8	−0.080%	$32.1M	$333.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,736.9	−0.113%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,736.8	−0.116%	$1.5M	$15.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,736.4	−0.130%	$170.3M	$327.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,735.9	−0.148%	$3.34B	$8.88B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,735.9	−0.148%	$2.07B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,736.6	−0.125%	$15.2M	$40.8M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,735.4	−0.168%	$133.6M	$322.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,735.7	−0.156%	$184.0M	$670.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,737.6	−0.088%	$159.3M	$86.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,737.4	−0.094%	$21.1M	$69.2M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,737.1	−0.106%	—	$844K	50x	as long as short
Polymarket Perps ETH-USDshort	+0.0100%	1h	2,737.5	−0.091%	$11.2M	$9.2M	50x
Bluefin ETH-PERP	+0.0100%	1h	2,737	−0.108%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,737.8	−0.080%	$41.3M	$29.9M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,735.1	−0.178%	$30.6M	$73.0M	50x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,736.7	−0.122%	$5.6M	$11.7M	25x	as long as short
Aftermath Perps ETHUSD	+0.0110%	1h	2,737.3	−0.096%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,736.4	−0.133%	$51.0M	$4.28B	50x	as long as short
Kalshi KXETHPERP	+0.0138%	8h	2,737.7	−0.084%	$6.5M	$683.4M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,736.2	−0.137%	$83.4M	$315.1M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0197%	8h	2,738.3	−0.062%	$32.2M	$11.7M	100x	as long as short
Reya ETHRUSDPERP	+0.0211%	1h	2,735.1	−0.177%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0264%	1h	2,737.7	−0.084%	$245K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0372%	8h	2,736.6	−0.125%	$283.4M	$175.3M	150x	as long as short