Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0037%/8h= +4.1% APRpaid last 24h −0.007%

Price spread now: RISEx against Paradex−0.075%7-day average −0.048% · 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−$18as in the Price arb table

costs, in and out, $10k−$150.153% of the position

Long on Paradex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.010%+$1 on $10k

Price spread, last 7 days+0.026%+$3 · spread now −0.075%, 7d avg −0.048%

Together, before fees+0.036%+ Points / potential airdropParadex: Active · farm board+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.027% cheaper against Paradex than usual: you would sell low and buy high (spread −0.075% now, against its 7-day average of −0.048%). If the spread goes back, that is −$3 on $10k: about 2.4 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.010% in total) that is about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,728.5	0.0100	pay 0.0100% / 8h	7h 55m	$15.4M	$7.4M	50x
Short	RISEx ETH/USDC	2,726.5	0.0137	get 0.0017% / 1h	55m 13s	$5.6M	$11.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.075%Rate

Funding earned: $7.84
Price spread: −0.075% → −0.048%: −$2.67
Slippage, 4 orders: −$5.34
Fee Paradex: 2 bp × 2 orders: −$4
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$10.17
Costs to cover: 0.153%
Break-even: 16.1 days

Slippage from Paradex: live order book, 4 min ago; RISEx: live order book, 4 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, 4 min ago	2.27 bp	4.3 bp −$4	4.3 bp −$43	doesn't fit	doesn't fit
Sell RISEx live order book, 4 min ago	0.02 bp	3.3 bp −$3	4.5 bp −$45	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	2,726.3	−0.080%	$275K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,727.9	−0.022%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,728.7	+0.007%	$805K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,726.7	−0.068%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,725.4	−0.114%	$10.5M	$41.8M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,726.4	−0.077%	$6.7M	$672.6M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,727.1	−0.053%	$264.5M	$219.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,726.7	−0.066%	$32.9M	—	200x	as long as short
HTX ETH-USDT	+0.0039%	8h	2,726.9	−0.061%	$1.05B	$1.22B	200x	as long as short
SunX ETH-USDT	+0.0045%	8h	2,726	−0.093%	$953K	$10.7M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0075%	8h	2,727.9	−0.023%	$2.32B	$4.32B	150x	as long as short
OKX ETH-USDT-SWAP	+0.0079%	8h	2,725.7	−0.103%	$1.65B	$10.72B	100x	as long as short
01 Exchange ETHUSD	+0.0080%	1h	2,726.3	−0.081%	$191K	$884K	50x	as long as short
Hibachi ETH/USDT-P	+0.0080%	1h	2,730.8	+0.084%	$242K	$1.4M	20x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,726	−0.093%	$383.4M	$576.3M	100x	as long as short
Aster ETHUSDT	+0.0087%	8h	2,728	−0.018%	$252.1M	$850.6M	200x	as long as short
ApeX Omni ETHUSDT	+0.0089%	1h	2,726.3	−0.080%	$8.4M	$31.2M	100x	as long as short
Gate ETH_USDT	+0.0094%	8h	2,726.4	−0.079%	$3.30B	$8.20B	200x	as long as short
MEXC ETH_USDT	+0.0095%	8h	2,726	−0.092%	$1.56B	$2.54B	500x	as long as short
Binance ETHUSDT	+0.0095%	8h	2,726.5	−0.075%	$6.31B	$16.08B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,727.5	−0.036%	$112.1M	$400.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,729	+0.019%	$23.6M	$95.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,728.2	−0.010%	—	$30.5M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,724.1	−0.162%	$4.9M	$191K	20x	as long as short
Aftermath Perps ETHUSD	+0.0096%	1h	2,726.7	−0.067%	$30K	$20K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,725.5	−0.110%	$500K	$3.6M	50x	as long as short
Paradex ETH-USD-PERPlong	+0.0100%	8h	2,728.5	long leg	$15.4M	$7.4M	50x
Nado ETH-PERP	+0.0100%	1h	2,725.7	−0.103%	$14.1M	$103.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,728.1	−0.015%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,726.1	−0.086%	$32.1M	$332.5M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,724.8	−0.136%	$2.7M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,725.9	−0.094%	$1.6M	$15.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,727.1	−0.051%	$161.7M	$337.0M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,726.1	−0.087%	$2.10B	$2.76B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,726.3	−0.083%	—	$1.07B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,727.6	−0.032%	$15.2M	$40.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,727.3	−0.044%	$131.3M	$315.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,728.4	−0.003%	$185.6M	$683.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,725.7	−0.104%	$158.4M	$81.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,729.3	+0.029%	$21.0M	$70.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,727.9	−0.023%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,724.7	−0.139%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,726.5	−0.075%	$179K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,726.2	−0.084%	$20K	$23K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,731.7	+0.116%	$40.6M	$29.2M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,726.7	−0.066%	$54.3M	$182.6M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,727.6	−0.033%	$262.8M	$64.0M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,725	−0.130%	$30.4M	$71.1M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,727.3	−0.045%	$81.8M	$310.5M	100x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,728.6	+0.004%	$46.6M	$4.25B	50x	as long as short
RISEx ETH/USDCshort	+0.0137%	1h	2,726.5	−0.075%	$5.6M	$11.6M	25x
BloFin ETH-USDT	+0.0144%	8h	2,726.8	−0.063%	$282.7M	$177.5M	150x	as long as short
Reya ETHRUSDPERP	+0.0176%	1h	2,725.2	−0.123%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0187%	8h	2,728.2	−0.011%	$32.2M	$11.3M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,725.2	−0.121%	$117K	$19.3M	52x	as long as short