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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 21:20 UTC+0.0211%/8h= +23.1% APRpaid last 24h +0.021%
Price spread now: Paradex against Perpl−0.013%7-day average +0.034% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on PerplShort on Paradex
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.011%−$1 on $10k
Price spread, last 7 days+0.103%+$10 · spread now −0.013%, 7d avg +0.034%
Together, before fees+0.092%+ Points / potential airdropPerpl: Active · Paradex: Active · farm board+$9 on $10k · with fees, hour by hour
Funding pays, the price is against you. Paradex is 0.046% cheaper against Perpl than usual: you would sell low and buy high (spread −0.013% now, against its 7-day average of +0.034%). If the spread goes back, that is −$5 on $10k: about 18 hours of funding at the current rate (+$6 a day).
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.011% in total (about -1.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPerpl ETH2,764.8−0.0112get 0.0010% / 43m25m 04s$289K$6.8M8.3x
ShortParadex ETH-USD-PERP2,764.50.0100get 0.0100% / 8h2h 38m$15.9M$10.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Paradex against Perpl. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$44.38
Price spread: −0.013% → +0.034%
−$4.64
Slippage, 4 orders
no order book: not counted
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Fee Paradex: 2 bp × 2 orders
−$4
Net
$21.93
Costs to cover
0.178%
Break-even
3.5 days
Slippage unknown: Perpl: no order-book sample; Paradex: live order book, 1 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Perpl no order-book sample—————
Sell Paradex live order book, 1 min ago85.90 bp87.9 bp −$8887.9 bp −$879doesn't fitdoesn't fit
Perpl: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ETHlong−0.0112%43m2,764.8long leg$289K$6.8M8.3x
Injective ETH/USDC PERP−0.0107%1h2,766.1+0.046%$119K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,763.9−0.033%$5K$2K50xas long as short
ApeX Omni ETHUSDT−0.0072%1h2,765.2+0.015%$10.4M$30.9M100xas long as short
01 Exchange ETHUSD−0.0064%1h2,765.3+0.017%$172K$1.2M50xas long as short
Phoenix ETH−0.0023%1h2,766.8+0.072%$794K$3.7M25xas long as short
RISEx ETH/USDC−0.0011%1h2,765.2+0.013%$5.8M$11.9M25xas long as short
dYdX ETH-USD0.0000%1h2,764−0.028%$12.7M$45.5M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,767.6+0.099%$22.3M—200xas long as short
OKX ETH-USDT-SWAP+0.0022%8h2,767.9+0.111%$1.70B$11.83B100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps ETHUSD+0.0024%1h2,767.7+0.102%$29K$21K20xas long as short
GMX ETH/USD [ETH-USDC]L +0.0028% / S +0.0009%1h2,767.3+0.091%$13.1M—200xas long as short
Phemex ETHUSDT+0.0030%8h2,766.7+0.067%$266.2M$66.0M150xas long as short
Aster ETHUSDT+0.0038%8h2,767.4+0.093%$255.9M$995.5M200xas long as short
MEXC ETH_USDT+0.0045%8h2,766.7+0.068%$1.62B$2.65B500xas long as short
Binance ETHUSDT+0.0045%8h2,767.9+0.110%$6.43B$17.19B150xas long as short
Aevo ETH-PERP+0.0048%1h2,764.5−0.011%$5.0M$636K20xas long as short
Gate ETH_USDT+0.0064%8h2,767.3+0.089%$3.29B$9.59B200xas long as short
Bitget ETHUSDT+0.0074%8h2,768+0.115%$2.09B$3.13B150xas long as short
Bullet ETH-USD+0.0085%1h2,766.2+0.049%$183K$1.8M20xas long as short
Variational Omni ETH+0.0091%8h2,765.4+0.020%$140.3M$319.1M—as long as short
Lighter ETH+0.0096%1h2,767.1+0.082%$115.4M$510.9M50xas long as short
Lighter RH ETH+0.0096%1h2,768.6+0.135%$25.3M$122.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,765.7+0.031%—$41.7M500xas long as short
Paradex ETH-USD-PERPshort+0.0100%8h2,764.5−0.013%$15.9M$10.9M50x
Katana Perps ETH-USD+0.0100%8h2,765.3+0.017%$480K$2.7M50xas long as short
Nado ETH-PERP+0.0100%1h2,764.4−0.014%$14.8M$116.6M50xas long as short
Hyperliquid ETH+0.0100%1h2,769.4+0.166%$3.19B$2.38B25xas long as short
Pacifica ETH+0.0100%1h2,765.1+0.010%$31.1M$285.6M50xas long as short
Bybit ETHUSDT+0.0100%8h2,768+0.116%$2.50B$4.64B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,764.1−0.026%$2.8M$16.5M25xas long as short
Arcus ETH-USD+0.0100%1h2,766.9+0.075%$2.7M$17.5M25xas long as short
Bulk ETH-USD+0.0100%1h2,765.5+0.026%$164.9M$254.7M25xas long as short
KuCoin ETHUSDTM+0.0100%8h2,766.6+0.066%$424.6M$742.8M100xas long as short
BingX ETH-USDC+0.0100%8h2,766.7+0.069%—$17.3M—as long as short
Backpack ETH_USDC_PERP+0.0100%1h2,767.4+0.094%$15.3M$42.4M50xas long as short
edgeX ETHUSDC+0.0100%4h2,765.4+0.021%$177.8M$790.5M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,765.7+0.032%$160.8M$97.4M50xas long as short
StandX ETH-USD+0.0100%1h2,766.5+0.061%$21.4M$57.7M40xas long as short
Vest ETH-PERP+0.0100%1h2,766.2+0.051%—$1.1M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,767.2+0.086%$10.8M$7.8M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,767.2+0.085%$21K$25K25xas long as short
Derive ETH-PERP+0.0100%1h2,769.1+0.154%$42.6M$29.3M15xas long as short
SunX ETH-USDT+0.0100%8h2,766+0.042%$971K$14.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,766.7+0.068%$55.1M$228.6M40xas long as short
HTX ETH-USDT+0.0100%8h2,765.9+0.040%$1.08B$1.32B200xas long as short
Extended ETH-USD+0.0104%1h2,767.7+0.105%$31.4M$76.2M50xas long as short
Coinbase International ETH-PERP-INTX+0.0104%1h2,768.4+0.128%$60.2M$4.62B50xas long as short
Deribit ETH-PERPETUAL+0.0115%1h2,768.5+0.132%$258.4M$224.5M50xas long as short
Kalshi KXETHPERP+0.0118%8h2,765.3+0.017%$8.6M$671.9M4.9xas long as short
Orderly PERP_ETH_USDC+0.0131%8h2,769.7+0.175%$32.5M$11.9M100xas long as short
BloFin ETH-USDT+0.0165%8h2,763.1−0.061%$285.6M$194.7M150xas long as short
Reya ETHRUSDPERP+0.0186%1h2,765.1+0.010%$7.4M$992K25xas long as short
Kraken Futures PF_ETHUSD+0.0241%1h2,768.2+0.121%$88.3M$329.4M100xas long as short
Hibachi ETH/USDT-P+0.0416%1h2,767.9+0.112%$272K$1.5M20xas long as short