Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −11.0% APRpaid last 24h +0.004%

Price spread now: dYdX against Paradex−0.153%7-day average −0.061% · 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−$37as in the Price arb table

costs, in and out, $10k−$270.273% of the position

Long on Paradex Short on dYdX

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+0.136%+$14 · spread now −0.153%, 7d avg −0.061%

Together, before fees+0.392%+ Points / potential airdropParadex: Active · farm board+$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.092% cheaper against Paradex than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.061%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.256%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,730.6	0.0100	pay 0.0100% / 8h	16m 01s	$15.3M	$7.5M	50x
Short	dYdX ETH-USD	2,726.4	0.0000	pay 0.0000% / 1h	16m 01s	$10.5M	$41.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.153%Rate

Funding earned: −$21.04
Price spread: −0.153% → −0.061%: −$9.18
Slippage, 4 orders: −$13.33
Fee Paradex: 2 bp × 2 orders: −$4
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$57.55
Costs to cover: 0.273%
Break-even: never at this rate

Slippage from Paradex: live order book, 3 min ago; dYdX: live order book, 3 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, 3 min ago	1.54 bp	3.5 bp −$4	3.5 bp −$35	doesn't fit	doesn't fit
Sell dYdX live order book, 3 min ago	4.03 bp	11.2 bp −$11	21.5 bp −$215	29.1 bp −$2,908	43.8 bp −$21.9K

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	−0.0447%	43m	2,726.2	−0.160%	$276K	$5.7M	8.3x	as long as short
BloFin ETH-USDT	−0.0179%	8h	2,726.3	−0.156%	$281.2M	$177.6M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,725.5	−0.186%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,727	−0.131%	$809K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,725.1	−0.200%	$11.9M	—	200x	as long as short
dYdX ETH-USDshort	0.0000%	1h	2,726.4	−0.153%	$10.5M	$41.9M	50x
Kalshi KXETHPERP	0.0000%	8h	2,726.1	−0.164%	$6.7M	$677.7M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,725.5	−0.187%	$263.6M	$214.4M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,725.3	−0.192%	$32.9M	—	200x	as long as short
BingX ETH-USDT	+0.0016%	8h	2,724.5	−0.224%	—	$1.08B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0020%	8h	2,724.3	−0.230%	$2.31B	$4.33B	150x	as long as short
HTX ETH-USDT	+0.0032%	8h	2,724.9	−0.209%	$1.05B	$1.22B	200x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,726.6	−0.145%	$190K	$883K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,730.9	+0.012%	$117K	$21.8M	52x	as long as short
Hibachi ETH/USDT-P	+0.0056%	1h	2,727.1	−0.129%	$242K	$1.4M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,725.1	−0.200%	$81.8M	$310.7M	100x	as long as short
ApeX Omni ETHUSDT	+0.0068%	1h	2,726.3	−0.156%	$8.5M	$31.4M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,724.6	−0.220%	$1.65B	$10.78B	100x	as long as short
KuCoin ETHUSDTM	+0.0074%	8h	2,724.6	−0.218%	$382.3M	$576.9M	100x	as long as short
Aster ETHUSDT	+0.0079%	8h	2,724.7	−0.214%	$252.5M	$849.0M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,722.7	−0.288%	$4.9M	$172K	20x	as long as short
MEXC ETH_USDT	+0.0089%	8h	2,724.4	−0.225%	$1.58B	$2.59B	500x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,724.4	−0.225%	$6.30B	$16.11B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,725.2	−0.198%	$112.3M	$433.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,726.5	−0.151%	$23.4M	$102.4M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,725.6	−0.182%	$500K	$3.6M	50x	as long as short
Paradex ETH-USD-PERPlong	+0.0100%	8h	2,730.6	long leg	$15.3M	$7.5M	50x
Nado ETH-PERP	+0.0100%	1h	2,725.3	−0.192%	$14.0M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,726.9	−0.134%	$3.10B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,726.5	−0.150%	$32.1M	$333.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,726.1	−0.164%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,726.1	−0.164%	$1.6M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,724.6	−0.218%	$3.30B	$8.94B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,724.5	−0.224%	$2.10B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,724.3	−0.229%	$15.0M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,722.2	−0.305%	$133.6M	$316.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,725.2	−0.198%	$185.4M	$683.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,726.9	−0.133%	$158.5M	$82.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,726.4	−0.153%	$20.9M	$70.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,727.2	−0.122%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,726.8	−0.138%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,725	−0.203%	$192K	$1.7M	20x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,727.6	−0.108%	$40.8M	$29.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,725	−0.206%	$955K	$10.8M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,724.7	−0.215%	$54.3M	$182.7M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,724.6	−0.219%	$262.4M	$64.3M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,726.7	−0.141%	$161.2M	$356.8M	25x	as long as short
Aftermath Perps ETHUSD	+0.0101%	1h	2,725.7	−0.179%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,723.8	−0.248%	$30.4M	$71.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,725.4	−0.189%	—	$30.2M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,726	−0.166%	$46.6M	$4.27B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,726.2	−0.160%	$5.6M	$11.7M	25x	as long as short
Reya ETHRUSDPERP	+0.0179%	1h	2,724.9	−0.208%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0185%	8h	2,727.1	−0.126%	$32.2M	$11.2M	100x	as long as short
Bluefin ETH-PERP	+0.0343%	1h	2,725.5	−0.185%	$20K	$23K	25x	as long as short