Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.021%

Price spread now: Paradex against Extended−0.078%7-day average — · you buy dearer than you sell

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

Long on Extended 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 airdropExtended: Active · Paradex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.078% cheaper against Extended than usual: you would sell low and buy high (spread −0.078% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 22 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ETHFI-USD	0.7228	0.0032	pay 0.0004% / 1h	54m 16s	$93K	$493K	10x
Short	Paradex ETHFI-USD-PERP	0.7222	0.0044	get 0.0044% / 8h	54m 16s	$6K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Extended. 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 ExtendedbpFee ParadexbpOrdersPrice spread, now −0.078%Rate

Funding earned: $2.48
Price spread: −0.078% → 0.000%: −$7.79
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$14.31
Costs to cover: 0.090%
Break-even: 47.4 days

Slippage unknown: Extended: live order book, 24 min ago; 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 Extended live order book, 24 min ago	2.66 bp	17.9 bp −$18	183.1 bp −$1,831	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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	0.7234	+0.088%	$42K	$18K	10x	as long as short
HTX ETHFI-USDT	−0.0331%	4h	0.7212	−0.217%	$84K	$164K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0193%	4h	0.7231	+0.046%	$17K	$1K	10x	as long as short
MEXC ETHFI_USDT	+0.0030%	4h	0.7227	−0.009%	$15.3M	$3.8M	125x	as long as short
Binance ETHFIUSDT	+0.0031%	4h	0.7229	+0.014%	$25.1M	$37.2M	75x	as long as short
Extended ETHFI-USDlong	+0.0032%	1h	0.7228	long leg	$93K	$493K	10x
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+0.171%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERPshort	+0.0044%	8h	0.7222	−0.078%	$6K	—	5x
Aster ETHFIUSDT	+0.0069%	4h	0.7231	+0.042%	$185K	$260K	10x	as long as short
Aevo ETHFI-PERP	+0.0088%	1h	0.7238	+0.145%	$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	0.7239	+0.158%	$1.1M	$896K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7238	+0.149%	$18.3M	$8.9M	5x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7231	+0.046%	$18.4M	$13.0M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7231	+0.046%	$5.0M	$12.7M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7234	+0.088%	$1.7M	$2.0M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7229	+0.019%	$1.2M	$273K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7232	+0.060%	$6.2M	$5.8M	75x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.7231	+0.046%	—	$26.1M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7219	−0.126%	$1.0M	$747K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7228	+0.006%	$60K	$93K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7220	−0.106%	$1K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0122%	4h	0.7225	−0.037%	$1.3M	$293K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0216%	1h	0.7237	+0.129%	$32K	$6K	50x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0547%	1h	0.7238	+0.140%	$279K	$158K	20x	as long as short