Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.045%

Price spread now: Jupiter Perps against Paradex−0.124%7-day average −0.086% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.164%−$16 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.124%, 7d avg −0.086%

Together, before fees−0.091%+ Points / potential airdropParadex: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Jupiter Perps is 0.038% cheaper against Paradex than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.086%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,749	0.0100	pay 0.0100% / 8h	6h 58m	$15.7M	$6.6M	50x
Short	Jupiter Perps ETH-PERP	2,745.6	L +0.0096% / S +0.0048%	pay 0.0006% / 1h	58m 29s	—	$24.6M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps 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 Jupiter PerpsbpOrdersPrice spread, now −0.124%Rate

Funding earned: −$31.06
Price spread: −0.124% → −0.086%: −$3.84
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$50.9
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: live order book, 1 min ago; Jupiter Perps: no order-book sample. Net counts fees only.

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, 1 min ago	0.49 bp	2.5 bp −$2	2.5 bp −$25	doesn't fit	doesn't fit
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ETH on 54 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
Hotstuff ETH-PERP	−0.0080%	1h	2,748.4	−0.021%	$5K	$1K	50x	as long as short
Bybit ETHUSDT	−0.0039%	8h	2,743.8	−0.189%	$2.36B	$4.15B	150x	as long as short
Hibachi ETH/USDT-P	−0.0024%	1h	2,750	+0.036%	$236K	$1.3M	20x	as long as short
Phoenix ETH	−0.0012%	1h	2,751.4	+0.088%	$814K	$2.8M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,748.9	−0.004%	$12.0M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,743.9	−0.183%	$11.1M	$41.4M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,747.9	−0.039%	$6.8M	$664.0M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,744.8	−0.151%	$271K	$5.2M	8.3x	as long as short
Deribit ETH-PERPETUAL	0.0000%	1h	2,746.2	−0.101%	$266.4M	$209.5M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,749.8	+0.029%	$33.2M	—	200x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0016%	1h	2,744.8	−0.152%	$179K	$943K	50x	as long as short
Phemex ETHUSDT	+0.0034%	8h	2,745.6	−0.124%	$264.2M	$59.4M	150x	as long as short
Gate ETH_USDT	+0.0037%	8h	2,743.7	−0.191%	$3.27B	$7.65B	200x	as long as short
OKX ETH-USDT-SWAP	+0.0069%	8h	2,743.5	−0.199%	$1.67B	$10.18B	100x	as long as short
ApeX Omni ETHUSDT	+0.0070%	1h	2,749.5	+0.019%	$8.3M	$30.3M	100x	as long as short
Aster ETHUSDT	+0.0071%	8h	2,744.4	−0.166%	$252.9M	$796.6M	200x	as long as short
SoDEX ETH-USD	+0.0078%	1h	2,745	−0.145%	$54.7M	$160.0M	40x	as long as short
HTX ETH-USDT	+0.0079%	8h	2,744.7	−0.154%	$1.05B	$1.16B	200x	as long as short
Kraken Futures PF_ETHUSD	+0.0080%	1h	2,745.8	−0.116%	$82.5M	$290.8M	100x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,742.8	−0.225%	$4.9M	$200K	20x	as long as short
MEXC ETH_USDT	+0.0081%	8h	2,744.2	−0.175%	$1.58B	$2.46B	500x	as long as short
Binance ETHUSDT	+0.0081%	8h	2,743.7	−0.191%	$6.40B	$15.42B	150x	as long as short
KuCoin ETHUSDTM	+0.0089%	8h	2,743.8	−0.188%	$367.6M	$481.9M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,744.3	−0.171%	$113.6M	$378.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,745.7	−0.118%	$24.8M	$91.7M	50x	as long as short
Jupiter Perps ETH-PERPshort	L +0.0096% / S +0.0048%	1h	2,745.6	−0.124%	—	$24.6M	500x
Katana Perps ETH-USD	+0.0100%	8h	2,744.4	−0.166%	$509K	$3.5M	50x	as long as short
Paradex ETH-USD-PERPlong	+0.0100%	8h	2,749	long leg	$15.7M	$6.6M	50x
Nado ETH-PERP	+0.0100%	1h	2,744.2	−0.174%	$14.6M	$100.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,746.2	−0.101%	$3.13B	$1.94B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,744.8	−0.152%	$32.1M	$326.2M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,744.1	−0.177%	$2.8M	$15.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,745	−0.143%	$1.5M	$15.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,751.4	+0.087%	$166.7M	$340.7M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,743.9	−0.186%	$2.11B	$2.55B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,742.7	−0.227%	—	$18.5M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,745.3	−0.132%	$14.9M	$37.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,746.4	−0.093%	$131.8M	$307.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,749	+0.001%	$186.3M	$695.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,749.1	+0.006%	$159.8M	$73.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,748.2	−0.028%	$21.1M	$72.3M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,746.4	−0.096%	—	$409K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,745.4	−0.130%	$11.3M	$9.0M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,744.1	−0.177%	$177K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,745.7	−0.119%	$20K	$15K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,746.3	−0.098%	$946K	$9.9M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,743.2	−0.209%	$30.4M	$68.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,745.9	−0.112%	$45.6M	$4.10B	50x	as long as short
Aftermath Perps ETHUSD	+0.0108%	1h	2,748.8	−0.007%	$30K	$12K	20x	as long as short
Reya ETHRUSDPERP	+0.0167%	1h	2,745	−0.146%	$7.3M	$880K	25x	as long as short
RISEx ETH/USDC	+0.0167%	1h	2,745.2	−0.136%	$5.6M	$11.2M	25x	as long as short
Orderly PERP_ETH_USDC	+0.0181%	8h	2,746.3	−0.097%	$32.4M	$10.4M	100x	as long as short
BloFin ETH-USDT	+0.0301%	8h	2,745	−0.144%	$281.8M	$166.0M	150x	as long as short
Injective ETH/USDC PERP	+0.0308%	1h	2,752.8	+0.139%	$122K	$19.9M	52x	as long as short