Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0075%/8h= +8.3% APRpaid last 24h +0.030%

Price spread now: Extended against Paradex−0.072%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Extended

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 · Extended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.072% cheaper against Paradex than usual: you would sell low and buy high (spread −0.072% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 3.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETHFI-USD-PERP	0.6951	−0.0083	get 0.0083% / 8h	15m 30s	$6K	—	5x
Short	Extended ETHFI-USD	0.6946	−0.0008	pay 0.0001% / 1h	15m 30s	$94K	$503K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.072%Rate

Funding earned: $15.83
Price spread: −0.072% → 0.000%: −$7.24
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$0.41
Costs to cover: 0.090%
Break-even: 7.2 days

Slippage unknown: Paradex: no order-book sample; Extended: live order book, 22 min ago. 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 no order-book sample	—	—	—	—	—
Sell Extended live order book, 22 min ago	3.32 bp	18.0 bp −$18	118.6 bp −$1,186	doesn't fit	doesn't fit

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 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
Deribit ETHFI_USDC-PERPETUAL	−0.0468%	1h	0.6954	+0.036%	$41K	$11K	10x	as long as short
HTX ETHFI-USDT	−0.0416%	4h	0.6952	+0.007%	$83K	$150K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0289%	4h	0.6952	+0.007%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0196%	4h	0.6952	+0.013%	$916K	$785K	—	as long as short
Paradex ETHFI-USD-PERPlong	−0.0083%	8h	0.6951	long leg	$6K	—	5x
Bybit ETHFIUSDT	−0.0065%	4h	0.6950	−0.021%	$17.1M	$12.9M	25x	as long as short
Extended ETHFI-USDshort	−0.0008%	1h	0.6946	−0.072%	$94K	$503K	10x
Binance ETHFIUSDT	−0.0008%	4h	0.6948	−0.045%	$24.2M	$36.2M	75x	as long as short
MEXC ETHFI_USDT	−0.0006%	4h	0.6950	−0.021%	$15.7M	$4.2M	125x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+4.150%	$321	$51K	5.5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo ETHFI-PERP	+0.0080%	1h	0.6950	−0.021%	$8K	—	3x	as long as short
Lighter ETHFI	+0.0096%	1h	0.6962	+0.155%	$1.1M	$828K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.6958	+0.092%	$16.7M	$8.7M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.6948	−0.055%	$178K	$253K	10x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.6953	+0.022%	$5.1M	$12.6M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.6958	+0.094%	$1.7M	$2.0M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.6951	−0.007%	$1.2M	$224K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.6953	+0.022%	$6.1M	$4.8M	75x	as long as short
BingX ETHFI-USDT	+0.0100%	4h	0.6953	+0.022%	—	$10.8M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.6963	+0.164%	$52K	$149K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.6954	+0.036%	$2K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0231%	4h	0.6959	+0.108%	$1.2M	$241K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0272%	1h	0.6990	+0.554%	$32K	$6K	50x	as long as short
Kraken Futures PF_ETHFIUSD	+0.0820%	1h	0.6969	+0.254%	$291K	$290K	20x	as long as short