Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h −0.014%

Price spread now: Paradex against dYdX+0.007%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on dYdX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.256%−$26 on $10k

Price spread, last 7 days−0.049%−$5 · spread now +0.007%, 7d avg +0.058%

Together, before fees−0.305%+ Points / potential airdropParadex: Active · farm board−$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. Paradex is 0.051% cheaper against dYdX than usual: you would sell low and buy high (spread +0.007% now, against its 7-day average of +0.058%). If the spread goes back, that is −$5 on $10k: about 44 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 4 days funding on this pair cost −0.256%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ETH-USD	2,728.3	0.0008	pay 0.0001% / 1h	22m 06s	$10.7M	$42.1M	50x
Short	Paradex ETH-USD-PERP	2,728.5	0.0100	get 0.0100% / 8h	3h 22m	$15.6M	$7.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against dYdX. 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 dYdXbpFee ParadexbpOrdersPrice spread, now +0.007%Rate

Funding earned: $19.29
Price spread: +0.007% → +0.058%: −$5.06
Slippage, 4 orders: −$25.9
Fee dYdX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$25.67
Costs to cover: 0.399%
Break-even: 16.3 days

Slippage from dYdX: live order book, 2 min ago; Paradex: live order book, 2 min ago.

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 dYdX live order book, 2 min ago	8.97 bp	17.6 bp −$18	36.7 bp −$367	48.5 bp −$4,851	80.5 bp −$40.2K
Sell Paradex live order book, 2 min ago	2.18 bp	4.2 bp −$4	4.2 bp −$42	doesn't fit	doesn't fit

ETH on 55 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
Perpl ETH	−0.0335%	43m	2,727.3	−0.036%	$296K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,727	−0.048%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0017%	8h	2,726.3	−0.073%	$1.05B	$1.20B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,727.6	−0.024%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,730.2	+0.070%	$816K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,727.8	−0.018%	$28.0M	—	200x	as long as short
dYdX ETH-USDlong	+0.0008%	1h	2,728.3	long leg	$10.7M	$42.1M	50x
Bullet ETH-USD	+0.0023%	1h	2,727	−0.047%	$177K	$1.7M	20x	as long as short
BingX ETH-USDT	+0.0030%	8h	2,726.7	−0.059%	—	$1.14B	—	as long as short
Bybit ETHUSDT	+0.0036%	8h	2,726.7	−0.060%	$2.36B	$4.37B	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ETH-PERPETUAL	+0.0043%	1h	2,728.2	−0.004%	$258.7M	$201.5M	50x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,727.3	−0.037%	$186K	$815K	50x	as long as short
SunX ETH-USDT	+0.0065%	8h	2,726.6	−0.062%	$956K	$11.2M	100x	as long as short
KuCoin ETHUSDTM	+0.0066%	8h	2,727.1	−0.043%	$378.7M	$574.0M	100x	as long as short
ApeX Omni ETHUSDT	+0.0074%	1h	2,732.1	+0.138%	$8.6M	$31.2M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,727	−0.049%	$1.67B	$10.73B	100x	as long as short
Aster ETHUSDT	+0.0079%	8h	2,726.9	−0.053%	$250.4M	$841.1M	200x	as long as short
SoDEX ETH-USD	+0.0082%	1h	2,727	−0.048%	$54.3M	$187.7M	40x	as long as short
MEXC ETH_USDT	+0.0087%	8h	2,726.5	−0.066%	$1.55B	$2.57B	500x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,726.8	−0.056%	$6.33B	$15.94B	150x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,725.4	−0.105%	$4.9M	$155K	20x	as long as short
Phemex ETHUSDT	+0.0090%	8h	2,727.7	−0.023%	$264.4M	$65.1M	150x	as long as short
Lighter ETH	+0.0096%	1h	2,727.3	−0.038%	$112.2M	$434.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,728.4	+0.005%	$23.4M	$104.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,728.2	−0.005%	—	$31.0M	500x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,733.1	+0.176%	$117K	$22.5M	52x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,726.2	−0.077%	$497K	$3.3M	50x	as long as short
Paradex ETH-USD-PERPshort	+0.0100%	8h	2,728.5	+0.007%	$15.6M	$7.9M	50x
Nado ETH-PERP	+0.0100%	1h	2,726.6	−0.062%	$13.7M	$104.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,728.7	+0.015%	$3.09B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,727.4	−0.033%	$31.8M	$333.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,726.1	−0.081%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,727.3	−0.038%	$1.5M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,728.2	−0.003%	$169.5M	$307.4M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,727	−0.048%	$3.32B	$8.92B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,727.3	−0.036%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,727.3	−0.035%	$14.8M	$40.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,729.6	+0.049%	$133.3M	$321.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,731.8	+0.129%	$183.8M	$670.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,729.6	+0.048%	$158.8M	$86.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,729.6	+0.048%	$21.0M	$69.7M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,728.5	+0.009%	—	$844K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,729.4	+0.040%	$11.2M	$9.3M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,728	−0.011%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,729.1	+0.031%	$41.2M	$29.9M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,726.2	−0.076%	$30.5M	$73.3M	50x	as long as short
Kalshi KXETHPERP	+0.0105%	8h	2,728.2	−0.004%	$6.5M	$684.2M	4.9x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,726.6	−0.063%	$5.6M	$11.8M	25x	as long as short
Aftermath Perps ETHUSD	+0.0109%	1h	2,731.9	+0.132%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,727.6	−0.025%	$50.8M	$4.27B	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,727.6	−0.027%	$83.1M	$315.2M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0194%	8h	2,729.9	+0.058%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0209%	1h	2,727.2	−0.040%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,730.4	+0.077%	$242K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0350%	8h	2,728	−0.011%	$282.6M	$174.7M	150x	as long as short