Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.032%

Price spread now: Gate against Paradex−0.114%7-day average −0.058% · 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−$30as in the Price arb table

costs, in and out, $10k−$240.244% of the position

Long on Paradex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.071%−$7 on $10k

Price spread, last 7 days+0.054%+$5 · spread now −0.114%, 7d avg −0.058%

Together, before fees−0.018%+ Points / potential airdropParadex: Active · farm board−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.057% cheaper against Paradex than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,731.3	0.0100	pay 0.0100% / 8h	1h 31m	$15.3M	$7.9M	50x
Short	Gate ETH_USDT	2,728.2	0.0100	get 0.0100% / 8h	1h 31m	$3.30B	$8.98B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.114%Rate

Funding earned: $0.02
Price spread: −0.114% → −0.058%: −$5.67
Slippage, 4 orders: −$5.41
Fee Paradex: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$30.06
Costs to cover: 0.244%
Break-even: 12538.8 days

Slippage from Paradex: live order book, 3 min ago; Gate: 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	2.58 bp	4.6 bp −$5	4.6 bp −$46	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	0.02 bp	7.5 bp −$8	7.5 bp −$75	10.0 bp −$1,002	18.4 bp −$9,194

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	2,727	−0.161%	$288K	$5.8M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,727.9	−0.126%	$5K	$1K	50x	as long as short
ApeX Omni ETHUSDT	−0.0064%	1h	2,727.5	−0.142%	$8.6M	$31.5M	100x	as long as short
Injective ETH/USDC PERP	−0.0040%	1h	2,727.6	−0.137%	$117K	$22.5M	52x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,726.5	−0.179%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,725.7	−0.207%	$811K	$3.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,727.5	−0.139%	$10.5M	$42.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,727	−0.159%	$6.6M	$688.1M	4.9x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,726.7	−0.172%	$262.6M	$215.0M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,726.5	−0.179%	$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	+0.0011%	8h	2,725.8	−0.203%	$1.05B	$1.23B	200x	as long as short
01 Exchange ETHUSD	+0.0016%	1h	2,728.2	−0.115%	$191K	$893K	50x	as long as short
BingX ETH-USDT	+0.0026%	8h	2,728	−0.124%	—	$1.11B	—	as long as short
Bybit ETHUSDT	+0.0033%	8h	2,728	−0.123%	$2.34B	$4.41B	150x	as long as short
KuCoin ETHUSDTM	+0.0071%	8h	2,727.9	−0.125%	$375.7M	$577.0M	100x	as long as short
SoDEX ETH-USD	+0.0074%	1h	2,725.8	−0.203%	$54.3M	$187.3M	40x	as long as short
Aster ETHUSDT	+0.0081%	8h	2,727.9	−0.126%	$252.1M	$848.8M	200x	as long as short
SunX ETH-USDT	+0.0086%	8h	2,725.4	−0.216%	$955K	$11.0M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0087%	8h	2,728	−0.122%	$1.65B	$10.91B	100x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,723.5	−0.289%	$4.9M	$167K	20x	as long as short
MEXC ETH_USDT	+0.0089%	8h	2,728.2	−0.117%	$1.53B	$2.59B	500x	as long as short
Binance ETHUSDT	+0.0089%	8h	2,728.2	−0.114%	$6.33B	$16.15B	150x	as long as short
Aftermath Perps ETHUSD	+0.0090%	1h	2,727.3	−0.146%	$30K	$20K	20x	as long as short
Lighter ETH	+0.0096%	1h	2,727.9	−0.127%	$112.0M	$434.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,728.9	−0.092%	$23.4M	$103.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,728.2	−0.115%	$510K	$3.5M	50x	as long as short
Paradex ETH-USD-PERPlong	+0.0100%	8h	2,731.3	long leg	$15.3M	$7.9M	50x
Nado ETH-PERP	+0.0100%	1h	2,727.9	−0.125%	$14.1M	$105.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,730.7	−0.024%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,728.7	−0.097%	$31.9M	$333.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,727	−0.159%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,728.8	−0.093%	$1.5M	$16.3M	25x	as long as short
Gate ETH_USDTshort	+0.0100%	8h	2,728.2	−0.114%	$3.30B	$8.98B	200x
Bitget ETHUSDT	+0.0100%	8h	2,728	−0.124%	$2.08B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,726.2	−0.190%	$15.0M	$41.8M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,724.8	−0.241%	$133.4M	$324.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,726	−0.195%	$184.9M	$681.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,727.5	−0.143%	$158.5M	$86.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,727.2	−0.152%	$21.0M	$69.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,729.2	−0.079%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,729.4	−0.071%	$11.2M	$9.5M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,728.2	−0.117%	$179K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,727	−0.160%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,727.3	−0.149%	$40.9M	$30.3M	15x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,726	−0.196%	$262.7M	$64.7M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,726.2	−0.188%	$161.6M	$349.5M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,727.3	−0.150%	$30.4M	$74.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,727.7	−0.133%	—	$30.5M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,727.2	−0.154%	$49.9M	$4.31B	50x	as long as short
RISEx ETH/USDC	+0.0115%	1h	2,728.7	−0.097%	$5.6M	$11.7M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0186%	8h	2,728.2	−0.114%	$32.1M	$11.4M	100x	as long as short
Reya ETHRUSDPERP	+0.0191%	1h	2,727.3	−0.148%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0211%	1h	2,726.3	−0.184%	$82.4M	$312.5M	100x	as long as short
Hibachi ETH/USDT-P	+0.0232%	1h	2,727.2	−0.151%	$245K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0359%	8h	2,727.9	−0.127%	$281.9M	$175.4M	150x	as long as short