Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h +0.032%

Price spread now: MEXC against Paradex−0.040%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on MEXC

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

Funding pays, the price is against you. MEXC is 0.040% cheaper against Paradex than usual: you would sell low and buy high (spread −0.040% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 2.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETHFI-USD-PERP	0.7061	0.0051	pay 0.0051% / 8h	4h 26m	$6K	—	5x
Short	MEXC ETHFI_USDT	0.7058	0.0100	get 0.0050% / 4h	26m 17s	$15.7M	$4.0M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.040%Rate

Funding earned: $10.36
Price spread: −0.040% → 0.000%: −$4.04
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$1.68
Costs to cover: 0.080%
Break-even: 8.1 days

Slippage unknown: Paradex: no order-book sample; MEXC: live order book, 2 min ago. 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 MEXC live order book, 2 min ago	0.71 bp	13.0 bp −$13	20.3 bp −$203	71.6 bp −$7,158	194.0 bp −$97.0K

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	−0.0316%	1h	0.7058	−0.040%	$40K	$12K	10x	as long as short
HTX ETHFI-USDT	−0.0288%	4h	0.7039	−0.309%	$87K	$168K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0221%	4h	0.7054	−0.097%	$16K	$1K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+2.537%	$321	$51K	5.5x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0044%	1h	0.7058	−0.045%	$264K	$209K	20x	as long as short
Paradex ETHFI-USD-PERPlong	+0.0051%	8h	0.7061	long leg	$6K	—	5x
Lighter ETHFI	+0.0096%	1h	0.7062	+0.016%	$1.1M	$879K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7065	+0.053%	$17.5M	$8.0M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7062	+0.023%	$180K	$262K	10x	as long as short
Binance ETHFIUSDT	+0.0100%	4h	0.7056	−0.075%	$24.5M	$35.3M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHFIUSDT	+0.0100%	4h	0.7055	−0.083%	$17.6M	$12.6M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7065	+0.059%	$5.0M	$12.4M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7058	−0.040%	$1.7M	$2.0M	75x	as long as short
MEXC ETHFI_USDTshort	+0.0100%	4h	0.7058	−0.040%	$15.7M	$4.0M	125x
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7055	−0.083%	$1.2M	$233K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7059	−0.026%	$6.1M	$5.2M	75x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.7054	−0.097%	—	$26.0M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7066	+0.077%	$977K	$708K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7072	+0.161%	$70K	$118K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7064	+0.045%	$1K	$1.1M	20x	as long as short
Extended ETHFI-USD	+0.0104%	1h	0.7052	−0.123%	$97K	$379K	10x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7055	−0.083%	$8K	—	3x	as long as short
BloFin ETHFI-USDT	+0.0340%	4h	0.7063	+0.030%	$1.2M	$248K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0624%	1h	0.7090	+0.413%	$31K	$6K	50x	as long as short