Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0345%/8h= −37.8% APRpaid last 24h −0.118%

Price spread now: Paradex against Coinbase International−1.092%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Paradex is 1.092% cheaper against Coinbase International than usual: you would sell low and buy high (−$109 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ETHFI-PERP-INTX	0.7040	0.0320	pay 0.0040% / 1h	50m 04s	$32K	$5K	50x
Short	Paradex ETHFI-USD-PERP	0.6963	−0.0025	pay 0.0025% / 8h	5h 50m	$6K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Coinbase International. 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 Coinbase InternationalbpFee ParadexbpOrdersPrice spread, now −1.092%Rate

Funding earned: −$72.44
Price spread: −1.092% → 0.000%: −$109.17
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$195.6
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Paradex: 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Coinbase International and Paradex: 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.

ETHFI on 24 exchanges

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
Deribit ETHFI_USDC-PERPETUAL	−0.0611%	1h	0.6961	−1.122%	$42K	$13K	10x	as long as short
Orderly PERP_ETHFI_USDC	−0.0310%	4h	0.6958	−1.165%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0189%	4h	0.6962	−1.112%	$928K	$704K	—	as long as short
Paradex ETHFI-USD-PERPshort	−0.0025%	8h	0.6963	−1.092%	$6K	—	5x
HTX ETHFI-USDT	+0.0022%	4h	0.6956	−1.193%	$83K	$133K	20x	as long as short
Bybit ETHFIUSDT	+0.0026%	4h	0.6956	−1.193%	$17.1M	$11.8M	25x	as long as short
MEXC ETHFI_USDT	+0.0028%	4h	0.6953	−1.236%	$15.7M	$4.0M	125x	as long as short
Binance ETHFIUSDT	+0.0030%	4h	0.6957	−1.179%	$24.4M	$32.0M	75x	as long as short
Extended ETHFI-USD	+0.0032%	1h	0.6951	−1.268%	$110K	$499K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+2.841%	$321	$51K	5.5x	as long as short

Show all 24 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo ETHFI-PERP	+0.0088%	1h	0.6957	−1.182%	$8K	—	3x	as long as short
Lighter ETHFI	+0.0096%	1h	0.6968	−1.028%	$1.1M	$726K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.6964	−1.085%	$16.7M	$8.0M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.6969	−1.006%	$178K	$162K	10x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.6959	−1.151%	$5.1M	$12.2M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.6962	−1.108%	$1.7M	$1.7M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.6968	−1.023%	$1.2M	$180K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.6964	−1.080%	$6.2M	$3.7M	75x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.6963	−1.094%	—	$11.5M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.6976	−0.909%	$52K	$148K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.6973	−0.952%	$1K	$1.0M	20x	as long as short
BloFin ETHFI-USDT	+0.0132%	4h	0.6964	−1.080%	$1.2M	$234K	75x	as long as short
Coinbase International ETHFI-PERP-INTXlong	+0.0320%	1h	0.7040	long leg	$32K	$5K	50x
Kraken Futures PF_ETHFIUSD	+0.0575%	1h	0.6973	−0.956%	$303K	$298K	20x	as long as short