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Funding arb /

ETH

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding spread now, next payment 15:00 UTC−0.0059%/8h
paid, last 24h0.000%paid, last 3 days+0.106%to open and close $10k−$52
Long on ParadexShort on Backpack
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongParadex ETH-USD-PERP2,727.90.0099pay 0.0099% / 8h1h 54m$13.7M$11.1M50x
ShortBackpack ETH_USDC_PERP2,717.40.0040get 0.0005% / 1h54m 04s$15.4M$38.0M50x

Funding history

latest
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Funding on every exchange

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latest

Profit calculator

Funding earned
−$12.46
Slippage, 4 orders
−$38.16
Fee Paradex: 2 bp × 2 orders
−$4
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$64.62
Break-even
never at this rate
Slippage from Paradex: live order book, 2 min ago; Backpack: live order book, 2 min ago.

Price risk

price view
Price gap now
−0.388%
Avg gap 7d
−0.058%
A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Paradex live order book, 2 min ago15.86 bp23.4 bp −$2328.5 bp −$285doesn't fitdoesn't fit
Sell Backpack live order book, 2 min ago0.22 bp5.2 bp −$55.5 bp −$5517.2 bp −$1,719doesn't fit

ETH on 54 venues

lowest funding first. Swap a leg.
ExchangeFunding /8hEveryOIVol 24hMax lev
Injective ETH/USDC PERP−0.0112%1h$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h$5K$1K50xas long as short
Gate ETH_USDT−0.0041%8h$3.69B$8.19B200xas long as short
GMX ETH/USD [ETH-USDC]L −0.0014% / S +0.0046%1h$11.6M—200xas long as short
Kalshi KXETHPERP0.0000%8h$4.4M$475.4M4.9xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h$22.1M—200xas long as short
OKX ETH-USDT-SWAP+0.0018%8h$1.71B$10.47B100xas long as short
Phemex ETHUSDT+0.0029%8h$263.1M$65.6M150xas long as short
SoDEX ETH-USD+0.0034%1h$55.3M$139.7M40xas long as short
Backpack ETH_USDC_PERPshort+0.0040%1h$15.4M$38.0M50x
Show all 54 venues
ExchangeFunding /8hEveryOIVol 24hMax lev
Coinbase International ETH-PERP-INTX+0.0056%1h$61.2M$4.63B50xas long as short
Bullet ETH-USD+0.0060%1h$182K$1.9M20xas long as short
Phoenix ETH+0.0070%1h$1.4M$2.3M25xas long as short
Bitget ETHUSDT+0.0082%8h$2.12B$2.93B150xas long as short
Lighter ETH+0.0096%1h$118.5M$466.8M50xas long as short
Lighter RH ETH+0.0096%1h$25.5M$113.2M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h—$41.4M500xas long as short
Aevo ETH-PERP+0.0096%1h$4.9M$781K20xas long as short
Paradex ETH-USD-PERPlong+0.0099%8h$13.7M$11.1M50x
Katana Perps ETH-USD+0.0100%8h$466K$1.8M50xas long as short
Nado ETH-PERP+0.0100%1h$19.2M$109.6M50xas long as short
Aster ETHUSDT+0.0100%8h$265.8M$801.7M200xas long as short
Pacifica ETH+0.0100%1h$31.0M$185.4M50xas long as short
Binance ETHUSDT+0.0100%8h$6.55B$14.35B150xas long as short
Bybit ETHUSDT+0.0100%8h$2.43B$4.22B150xas long as short
Arcus ETH-USD+0.0100%1h$2.3M$13.6M25xas long as short
MEXC ETH_USDT+0.0100%8h$1.53B$2.30B500xas long as short
KuCoin ETHUSDTM+0.0100%8h$391.8M$666.6M100xas long as short
BingX ETH-USDT+0.0100%8h—$1.05B—as long as short
Variational Omni ETH+0.0100%8h$155.1M$289.1M—as long as short
edgeX ETHUSDC+0.0100%4h$192.9M$659.7M100xas long as short
ApeX Omni ETHUSDT+0.0100%1h$7.6M$27.3M100xas long as short
StandX ETH-USD+0.0100%1h$20.9M$55.3M40xas long as short
Vest ETH-PERP+0.0100%1h—$1.2M50xas long as short
Polymarket Perps ETH-USD+0.0100%1h$10.7M$4.7M50xas long as short
Bluefin ETH-PERP+0.0100%1h$19K$24K25xas long as short
SunX ETH-USDT+0.0100%8h$938K$13.8M100xas long as short
HTX ETH-USDT+0.0100%8h$1.08B$1.12B200xas long as short
Bulk ETH-USD+0.0100%1h$150.8M$274.0M25xas long as short
Extended ETH-USD+0.0104%1h$33.0M$71.9M50xas long as short
Perpl ETH+0.0112%43m$177K$5.2M8.3xas long as short
Reya ETHRUSDPERP+0.0147%1h$7.3M$910K25xas long as short
Deribit ETH-PERPETUAL+0.0176%1h$259.4M$208.2M50xas long as short
Orderly PERP_ETH_USDC+0.0215%8h$31.9M$11.1M100xas long as short
Aftermath Perps ETHUSD+0.0215%1h$29K$34K20xas long as short
BloFin ETH-USDT+0.0220%8h$293.0M$164.9M150xas long as short
Hibachi ETH/USDT-P+0.0232%1h$302K$1.2M20xas long as short
Kraken Futures PF_ETHUSD+0.0262%1h$85.6M$311.8M100xas long as short
RISEx ETH/USDC+0.0266%1h$5.8M$13.2M25xas long as short
Hyperliquid ETH+0.0334%1h$3.19B$2.02B25xas long as short
Ondo Perps ETH-USD.P+0.0340%1h$3.3M$12.5M25xas long as short
dYdX ETH-USD+0.0452%1h$24.3M$21.0M50xas long as short
01 Exchange ETHUSD+0.0600%1h$186K$1.0M50xas long as short
Derive ETH-PERP+0.0658%1h$42.1M$18.9M15xas long as short