ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0128%/8h= +14.1% APRnext payment +$1.28 per $10,000 · paid last 24h +0.015%

Price spread now: Paradex against Phemex+0.233%7-day average +0.096% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1481.483% of the position

Long on Phemex Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.037%+$4 on $10k

Price spread, last 3 days (all we have)−0.117%−$12 · spread now +0.233%, 7d avg +0.096%

Together, before fees−0.079%+ Points / potential airdropParadex: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Paradex is 0.137% dearer against Phemex than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ETHUSDT	2,773.6	−0.0029	get 0.0029% / 8h	7h 26m	$269.9M	$67.5M	150x
Short	Paradex ETH-USD-PERP	2,780	0.0099	get 0.0099% / 8h	7h 26m	$16.0M	$8.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Phemex. 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 PhemexbpFee ParadexbpOrdersPrice spread, now +0.233%Rate

Funding earned: $26.95
Price spread: +0.233% → +0.096%: $13.66
Slippage, 4 orders: −$132.29
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$107.68
Costs to cover: 1.483%
Break-even: 35.0 days

Slippage from Phemex: live order book, 3 min ago; Paradex: 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 Phemex live order book, 3 min ago	0.02 bp	6.7 bp −$7	8.3 bp −$83	11.5 bp −$1,152	doesn't fit
Sell Paradex live order book, 3 min ago	29.10 bp	31.1 bp −$31	31.1 bp −$311	doesn't fit	doesn't fit

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
Injective ETH/USDC PERP	−0.0752%	1h	2,776.9	+0.121%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,772.7	−0.031%	$5.7M	$11.1M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,772.5	−0.038%	$321K	$6.3M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,773.2	−0.013%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,773.7	+0.005%	$168K	$1.1M	50x	as long as short
Phemex ETHUSDTlong	−0.0029%	8h	2,773.6	long leg	$269.9M	$67.5M	150x
Phoenix ETH	−0.0003%	1h	2,773.7	+0.005%	$879K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,774.8	+0.045%	$12.2M	$45.7M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,773.4	−0.005%	$22.4M	—	200x	as long as short
Bullet ETH-USD	+0.0023%	1h	2,772.8	−0.026%	$185K	$1.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0026%	8h	2,775.6	+0.075%	$1.71B	$11.19B	100x	as long as short
SoDEX ETH-USD	+0.0036%	1h	2,772.8	−0.027%	$55.2M	$188.0M	40x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,773.3	−0.009%	$12.7M	—	200x	as long as short
Aster ETHUSDT	+0.0045%	8h	2,773.4	−0.004%	$256.8M	$885.2M	200x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,770.5	−0.108%	$5.0M	$167K	20x	as long as short
MEXC ETH_USDT	+0.0058%	8h	2,774.8	+0.044%	$1.62B	$2.63B	500x	as long as short
Binance ETHUSDT	+0.0058%	8h	2,774.8	+0.045%	$6.49B	$16.31B	150x	as long as short
Aftermath Perps ETHUSD	+0.0067%	1h	2,772.6	−0.036%	$31K	$21K	20x	as long as short
Bitget ETHUSDT	+0.0072%	8h	2,774.3	+0.027%	$2.10B	$2.87B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,774.4	+0.032%	$60.3M	$4.44B	50x	as long as short
ApeX Omni ETHUSDT	+0.0080%	1h	2,769.8	−0.134%	$8.7M	$32.2M	100x	as long as short
Gate ETH_USDT	+0.0082%	8h	2,773.3	−0.011%	$3.37B	$9.01B	200x	as long as short
Vest ETH-PERP	+0.0082%	1h	2,773.6	+0.002%	—	$876K	50x	as long as short
KuCoin ETHUSDTM	+0.0085%	8h	2,776	+0.088%	$420.7M	$626.6M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,775.1	+0.056%	$115.3M	$457.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,776	+0.088%	$25.7M	$111.5M	50x	as long as short
Paradex ETH-USD-PERPshort	+0.0099%	8h	2,780	+0.233%	$16.0M	$8.6M	50x
Katana Perps ETH-USD	+0.0100%	8h	2,773	−0.020%	$485K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,773.7	+0.004%	$14.7M	$114.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,776.6	+0.110%	$3.18B	$2.24B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,775.3	+0.063%	$31.3M	$325.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,775.3	+0.064%	$2.51B	$4.36B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,772.5	−0.038%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,773.4	−0.007%	$2.8M	$16.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,772.8	−0.025%	$170.3M	$276.6M	25x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,773.1	−0.015%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,773.3	−0.010%	$15.2M	$42.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,770.6	−0.107%	$140.2M	$345.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,769.9	−0.131%	$181.9M	$783.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.9	−0.095%	$161.1M	$84.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,773.1	−0.016%	$21.4M	$63.7M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,773.5	−0.002%	$10.5M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,773.8	+0.008%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,774.9	+0.050%	$42.7M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,772.3	−0.045%	$972K	$13.2M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,773.4	−0.006%	$1.08B	$1.25B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,772.4	−0.042%	$31.0M	$74.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,774.3	+0.026%	—	$36.9M	500x	as long as short
Deribit ETH-PERPETUAL	+0.0107%	1h	2,774.5	+0.033%	$259.1M	$206.3M	50x	as long as short
Kalshi KXETHPERP	+0.0111%	8h	2,773.7	+0.005%	$8.0M	$681.0M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,774.3	+0.027%	$96.0M	$319.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0144%	1h	2,775	+0.054%	$253K	$1.5M	20x	as long as short
Orderly PERP_ETH_USDC	+0.0151%	8h	2,775.6	+0.073%	$32.7M	$11.2M	100x	as long as short
BloFin ETH-USDT	+0.0178%	8h	2,772.9	−0.024%	$288.1M	$182.1M	150x	as long as short
Reya ETHRUSDPERP	+0.0211%	1h	2,773.5	−0.003%	$7.4M	$1.2M	25x	as long as short