Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0172%/8h= −18.9% APRpaid last 24h −0.100%

Price spread now: Paradex against Coinbase International−0.083%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Paradex is 0.083% cheaper against Coinbase International than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ETHFI-PERP-INTX	0.7228	0.0216	pay 0.0027% / 1h	54m 28s	$32K	$6K	50x
Short	Paradex ETHFI-USD-PERP	0.7222	0.0044	get 0.0044% / 8h	54m 28s	$6K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Coinbase International. 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 Coinbase InternationalbpFee ParadexbpOrdersPrice spread, now −0.083%Rate

Funding earned: −$36.16
Price spread: −0.083% → 0.000%: −$8.27
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$58.44
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Paradex: 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Coinbase International and Paradex: 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.

ETHFI on 24 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
Deribit ETHFI_USDC-PERPETUAL	−0.0441%	1h	0.7232	+0.055%	$42K	$18K	10x	as long as short
HTX ETHFI-USDT	−0.0324%	4h	0.7213	−0.208%	$84K	$164K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0193%	4h	0.7231	+0.042%	$17K	$1K	10x	as long as short
MEXC ETHFI_USDT	+0.0030%	4h	0.7229	+0.014%	$15.3M	$3.8M	125x	as long as short
Binance ETHFIUSDT	+0.0031%	4h	0.7231	+0.042%	$25.1M	$37.2M	75x	as long as short
Extended ETHFI-USD	+0.0032%	1h	0.7221	−0.102%	$93K	$493K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+0.166%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERPshort	+0.0044%	8h	0.7222	−0.083%	$6K	—	5x
Aster ETHFIUSDT	+0.0069%	4h	0.7231	+0.042%	$185K	$260K	10x	as long as short
Aevo ETHFI-PERP	+0.0088%	1h	0.7237	+0.120%	$9K	—	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter ETHFI	+0.0096%	1h	0.7235	+0.095%	$1.1M	$896K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7238	+0.144%	$18.3M	$8.9M	5x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7234	+0.083%	$18.4M	$13.0M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7235	+0.097%	$5.0M	$12.7M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7234	+0.083%	$1.7M	$2.0M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7228	0.000%	$1.2M	$273K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7227	−0.014%	$6.2M	$5.7M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7232	+0.055%	—	$1.2M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7219	−0.131%	$1.0M	$747K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7228	+0.001%	$60K	$93K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7225	−0.042%	$1K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0122%	4h	0.7225	−0.042%	$1.3M	$293K	75x	as long as short
Coinbase International ETHFI-PERP-INTXlong	+0.0216%	1h	0.7228	long leg	$32K	$6K	50x
Kraken Futures PF_ETHFIUSD	+0.0547%	1h	0.7236	+0.111%	$279K	$158K	20x	as long as short