Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0330%/8h= +36.1% APRpaid last 24h +0.102%

Price spread now: Coinbase International against Paradex+0.351%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Coinbase International

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 for this trade now. Funding pays +$10 a day on $10k at the current rate, and Coinbase International is 0.351% dearer against Paradex than usual: you sell high and buy low: +$35 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETHFI-USD-PERP	0.6966	−0.0058	get 0.0058% / 8h	43m 16s	$6K	—	5x
Short	Coinbase International ETHFI-PERP-INTX	0.6990	0.0272	get 0.0034% / 1h	43m 16s	$32K	$6K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.351%Rate

Funding earned: $69.25
Price spread: +0.351% → 0.000%: $35.15
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $90.4
Costs to cover: 0.140%
Break-even: from the start

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

Paradex and Coinbase International: 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	−0.0468%	1h	0.6961	−0.065%	$41K	$11K	10x	as long as short
HTX ETHFI-USDT	−0.0421%	4h	0.6957	−0.122%	$83K	$168K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0291%	4h	0.6961	−0.065%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0126%	4h	0.6961	−0.063%	$917K	$785K	—	as long as short
Paradex ETHFI-USD-PERPlong	−0.0058%	8h	0.6966	long leg	$6K	—	5x
Extended ETHFI-USD	−0.0032%	1h	0.6959	−0.093%	$95K	$503K	10x	as long as short
Binance ETHFIUSDT	−0.0030%	4h	0.6958	−0.108%	$24.2M	$36.0M	75x	as long as short
MEXC ETHFI_USDT	−0.0028%	4h	0.6962	−0.051%	$15.8M	$4.2M	125x	as long as short
Bybit ETHFIUSDT	+0.0003%	4h	0.6958	−0.108%	$17.2M	$13.1M	25x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+3.941%	$321	$51K	5.5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo ETHFI-PERP	+0.0072%	1h	0.6955	−0.151%	$8K	—	3x	as long as short
Lighter ETHFI	+0.0096%	1h	0.6964	−0.023%	$1.1M	$828K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.6969	+0.057%	$16.7M	$8.7M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.6968	+0.036%	$178K	$263K	10x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.6964	−0.022%	$5.1M	$12.6M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.6971	+0.079%	$1.7M	$2.0M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.6970	+0.064%	$1.2M	$223K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.6959	−0.094%	$6.1M	$4.8M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.6964	−0.022%	—	$1.2M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.6971	+0.076%	$52K	$149K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.6961	−0.065%	$2K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0210%	4h	0.6964	−0.022%	$1.2M	$241K	75x	as long as short
Coinbase International ETHFI-PERP-INTXshort	+0.0272%	1h	0.6990	+0.351%	$32K	$6K	50x
Kraken Futures PF_ETHFIUSD	+0.0820%	1h	0.6972	+0.099%	$291K	$285K	20x	as long as short