Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h −0.010%

Price spread now: 01 Exchange against Paradex+0.042%7-day average −0.074% · 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−$160as in the Price arb table

costs, in and out, $10k−$1721.716% of the position

Long on Paradex Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.056%−$6 on $10k

Price spread, last 4 days (all we have)−0.127%−$13 · spread now +0.042%, 7d avg −0.074%

Together, before fees−0.182%+ Points / potential airdropParadex: Active · farm board−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. 01 Exchange is 0.116% dearer against Paradex than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of −0.074%): +$12 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.8 days. At the pace of the last 3 days (−0.056% in total) that is about 7.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,779.2	0.0099	pay 0.0099% / 8h	56m 43s	$16.0M	$10.5M	50x
Short	01 Exchange ETHUSD	2,780.4	−0.0040	pay 0.0005% / 1h	56m 43s	$169K	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.042%Rate

Funding earned: −$29.19
Price spread: +0.042% → −0.074%: $11.59
Slippage, 4 orders: −$160.58
Fee Paradex: 2 bp × 2 orders: −$4
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$189.19
Costs to cover: 1.716%
Break-even: never at this rate

Slippage from Paradex: live order book, 2 min ago; 01 Exchange: 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	78.33 bp	80.3 bp −$80	80.3 bp −$803	doesn't fit	doesn't fit
Sell 01 Exchange live order book, 2 min ago	0.18 bp	4.9 bp −$5	9.4 bp −$94	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	2,779.7	+0.018%	$288K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,779.8	+0.019%	$5.7M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,777.7	−0.055%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,779.7	+0.017%	$5K	$2K	50x	as long as short
01 Exchange ETHUSDshort	−0.0040%	1h	2,780.4	+0.042%	$169K	$1.2M	50x
dYdX ETH-USD	0.0000%	1h	2,782.7	+0.125%	$12.8M	$45.8M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,778.7	−0.019%	$881K	$3.7M	25x	as long as short
Aftermath Perps ETHUSD	+0.0001%	1h	2,777.9	−0.046%	$29K	$22K	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,781.4	+0.078%	$22.5M	—	200x	as long as short
BingX ETH-USDT	+0.0014%	8h	2,781.9	+0.096%	—	$1.21B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0019%	8h	2,782.3	+0.110%	$1.70B	$11.90B	100x	as long as short
Phemex ETHUSDT	+0.0022%	8h	2,780.5	+0.047%	$270.9M	$68.8M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,781.3	+0.075%	$12.9M	—	200x	as long as short
Bullet ETH-USD	+0.0028%	1h	2,780.5	+0.047%	$182K	$1.7M	20x	as long as short
Aster ETHUSDT	+0.0034%	8h	2,781.6	+0.085%	$255.0M	$998.0M	200x	as long as short
ApeX Omni ETHUSDT	+0.0049%	1h	2,776.4	−0.104%	$8.8M	$32.7M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0056%	1h	2,782.1	+0.105%	$258.7M	$222.8M	50x	as long as short
MEXC ETH_USDT	+0.0061%	8h	2,781.3	+0.074%	$1.60B	$2.62B	500x	as long as short
Binance ETHUSDT	+0.0062%	8h	2,782	+0.098%	$6.45B	$17.24B	150x	as long as short
Nado ETH-PERP	+0.0062%	1h	2,780.2	+0.034%	$14.3M	$118.2M	50x	as long as short
Bitget ETHUSDT	+0.0064%	8h	2,782.1	+0.102%	$2.10B	$3.10B	150x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,779.4	+0.008%	$5.0M	$636K	20x	as long as short
Gate ETH_USDT	+0.0070%	8h	2,781.8	+0.093%	$3.31B	$9.56B	200x	as long as short
SoDEX ETH-USD	+0.0084%	1h	2,780.7	+0.053%	$55.4M	$229.0M	40x	as long as short
HTX ETH-USDT	+0.0088%	8h	2,780.3	+0.038%	$1.08B	$1.32B	200x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,782	+0.101%	$60.2M	$4.61B	50x	as long as short
Bybit ETHUSDT	+0.0090%	8h	2,782.4	+0.115%	$2.52B	$4.62B	150x	as long as short
KuCoin ETHUSDTM	+0.0092%	8h	2,780.8	+0.058%	$423.8M	$739.4M	100x	as long as short
Vest ETH-PERP	+0.0095%	1h	2,780.5	+0.047%	—	$1.1M	50x	as long as short
Lighter ETH	+0.0096%	1h	2,782.3	+0.112%	$116.3M	$494.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,783.9	+0.168%	$25.5M	$120.4M	50x	as long as short
Paradex ETH-USD-PERPlong	+0.0099%	8h	2,779.2	long leg	$16.0M	$10.5M	50x
Katana Perps ETH-USD	+0.0100%	8h	2,779.9	+0.024%	$478K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,784.9	+0.204%	$3.20B	$2.35B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,782.6	+0.121%	$31.3M	$306.5M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,779	−0.008%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,781.1	+0.065%	$2.7M	$17.1M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,777.9	−0.046%	$168.1M	$250.4M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,780.7	+0.054%	$15.1M	$44.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,775.9	−0.119%	$147.5M	$336.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,776.8	−0.086%	$181.7M	$779.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,776.9	−0.084%	$161.5M	$90.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,779.1	−0.005%	$21.5M	$58.2M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,782	+0.100%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,780.7	+0.054%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,782.9	+0.133%	$42.8M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,780.1	+0.030%	$974K	$13.9M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,780.8	+0.056%	$32.6M	$77.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,781.3	+0.074%	—	$41.8M	500x	as long as short
Kraken Futures PF_ETHUSD	+0.0122%	1h	2,781.9	+0.097%	$86.6M	$332.6M	100x	as long as short
Kalshi KXETHPERP	+0.0124%	8h	2,780.7	+0.053%	$8.3M	$681.6M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0135%	8h	2,783.5	+0.152%	$32.7M	$12.0M	100x	as long as short
BloFin ETH-USDT	+0.0181%	8h	2,780.3	+0.040%	$285.2M	$195.1M	150x	as long as short
Reya ETHRUSDPERP	+0.0196%	1h	2,780.7	+0.051%	$7.4M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0296%	1h	2,780.2	+0.036%	$270K	$1.5M	20x	as long as short