Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0208%/8h= −22.8% APRpaid last 24h −0.012%

Price spread now: ApeX Omni against Paradex−0.156%7-day average −0.050% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$210.209% of the position

Long on Paradex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.112%−$11 on $10k

Price spread, last 7 days+0.089%+$9 · spread now −0.156%, 7d avg −0.050%

Together, before fees−0.023%+ Points / potential airdropParadex: Active · farm board−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and ApeX Omni is 0.107% cheaper against Paradex than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.050%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,731	0.0100	pay 0.0100% / 8h	1h 47m	$15.3M	$8.0M	50x
Short	ApeX Omni ETHUSDT	2,726.7	−0.0108	pay 0.0014% / 1h	47m 32s	$8.6M	$31.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.156%Rate

Funding earned: −$43.75
Price spread: −0.156% → −0.050%: −$10.68
Slippage, 4 orders: −$6.88
Fee Paradex: 2 bp × 2 orders: −$4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$75.32
Costs to cover: 0.209%
Break-even: never at this rate

Slippage from Paradex: live order book, 2 min ago; ApeX Omni: 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 Paradex live order book, 2 min ago	2.65 bp	4.7 bp −$5	4.7 bp −$47	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 2 min ago	0.61 bp	6.0 bp −$6	7.6 bp −$76	24.9 bp −$2,487	82.7 bp −$41.3K

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	−0.0112%	43m	2,726	−0.183%	$287K	$5.8M	8.3x	as long as short
ApeX Omni ETHUSDTshort	−0.0108%	1h	2,726.7	−0.156%	$8.6M	$31.5M	100x
Hotstuff ETH-PERP	−0.0080%	1h	2,726.6	−0.161%	$5K	$1K	50x	as long as short
Injective ETH/USDC PERP	−0.0040%	1h	2,731	0.000%	$117K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,726.4	−0.167%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,730	−0.036%	$817K	$3.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,726.8	−0.152%	$10.5M	$42.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,726.6	−0.161%	$6.6M	$691.4M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,726.6	−0.161%	$262.2M	$214.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,726.6	−0.163%	$32.9M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ETH-USDT	+0.0008%	8h	2,725.7	−0.194%	$1.05B	$1.23B	200x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,726.8	−0.154%	$191K	$892K	50x	as long as short
BingX ETH-USDT	+0.0031%	8h	2,726.4	−0.170%	—	$1.12B	—	as long as short
Bybit ETHUSDT	+0.0037%	8h	2,726.2	−0.177%	$2.34B	$4.42B	150x	as long as short
Aftermath Perps ETHUSD	+0.0076%	1h	2,729.4	−0.060%	$30K	$20K	20x	as long as short
KuCoin ETHUSDTM	+0.0077%	8h	2,726.5	−0.165%	$375.1M	$576.1M	100x	as long as short
SunX ETH-USDT	+0.0086%	8h	2,725.5	−0.203%	$955K	$11.1M	100x	as long as short
Aster ETHUSDT	+0.0088%	8h	2,726.6	−0.162%	$251.9M	$850.0M	200x	as long as short
OKX ETH-USDT-SWAP	+0.0092%	8h	2,726.2	−0.176%	$1.66B	$10.93B	100x	as long as short
Binance ETHUSDT	+0.0095%	8h	2,726.4	−0.168%	$6.32B	$16.18B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,727	−0.145%	$111.9M	$432.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,728.3	−0.099%	$23.4M	$102.8M	50x	as long as short
MEXC ETH_USDT	+0.0096%	8h	2,726.5	−0.164%	$1.52B	$2.58B	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,723.8	−0.265%	$4.9M	$161K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,726	−0.183%	$507K	$3.5M	50x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,725.9	−0.186%	$54.3M	$187.4M	40x	as long as short
Paradex ETH-USD-PERPlong	+0.0100%	8h	2,731	long leg	$15.3M	$8.0M	50x
Nado ETH-PERP	+0.0100%	1h	2,725.8	−0.191%	$14.0M	$105.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,729.1	−0.069%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,727.6	−0.124%	$31.9M	$333.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,726.5	−0.165%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,727.1	−0.143%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,725.9	−0.186%	$161.8M	$340.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,726.5	−0.166%	$3.27B	$8.94B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,726.4	−0.170%	$2.08B	$2.79B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,726	−0.183%	$15.0M	$42.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,727	−0.145%	$133.2M	$326.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,727.4	−0.130%	$184.9M	$682.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,727.1	−0.141%	$158.5M	$87.7M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,728.1	−0.106%	$21.0M	$70.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,728.1	−0.106%	—	$767K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,727.4	−0.132%	$11.2M	$9.5M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,726.1	−0.180%	$179K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,727	−0.146%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,727.9	−0.114%	$40.9M	$30.2M	15x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,726.2	−0.177%	$262.8M	$65.1M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,725.5	−0.200%	$30.3M	$74.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,728.4	−0.094%	—	$30.6M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,727	−0.147%	$50.2M	$4.32B	50x	as long as short
RISEx ETH/USDC	+0.0115%	1h	2,727.3	−0.134%	$5.6M	$11.8M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0187%	8h	2,728.5	−0.090%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0194%	1h	2,725.1	−0.216%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0211%	1h	2,726.6	−0.160%	$83.2M	$311.2M	100x	as long as short
Hibachi ETH/USDT-P	+0.0272%	1h	2,730.9	−0.003%	$246K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0390%	8h	2,726.9	−0.150%	$282.3M	$175.0M	150x	as long as short