Funding arb · Price arb /

ETHFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0063%/8h= +6.9% APRpaid last 24h +0.021%

Price spread now: SunX against Paradex−0.068%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 SunX

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

Funding pays, the price is against you. SunX is 0.068% cheaper against Paradex than usual: you would sell low and buy high (spread −0.068% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 3.6 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	0.7136	0.0037	pay 0.0037% / 8h	1h 47m	$6K	—	5x
Short	SunX ETHFI-USDT	0.7131	0.0100	get 0.0050% / 4h	1h 47m	$1K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.068%Rate

Funding earned: $13.31
Price spread: −0.068% → 0.000%: −$6.79
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee SunX: 4 bp × 2 orders: −$8
Net: −$5.49
Costs to cover: 0.120%
Break-even: 9.9 days

Slippage unknown: Paradex: no order-book sample; SunX: live order book, 6 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 SunX live order book, 6 min ago	495.16 bp	doesn't fit	doesn't fit	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	−0.0451%	1h	0.7129	−0.096%	$42K	$18K	10x	as long as short
Kraken Futures PF_ETHFIUSD	−0.0254%	1h	0.7137	+0.016%	$281K	$145K	20x	as long as short
HTX ETHFI-USDT	−0.0220%	4h	0.7110	−0.362%	$82K	$165K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0177%	4h	0.7125	−0.152%	$16K	$1K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+1.460%	$321	$51K	5.5x	as long as short
Paradex ETHFI-USD-PERPlong	+0.0037%	8h	0.7136	long leg	$6K	—	5x
Extended ETHFI-USD	+0.0064%	1h	0.7132	−0.053%	$92K	$493K	10x	as long as short
MEXC ETHFI_USDT	+0.0066%	4h	0.7134	−0.026%	$15.1M	$3.8M	125x	as long as short
Bitget ETHFIUSDT	+0.0066%	4h	0.7129	−0.096%	$6.1M	$5.7M	75x	as long as short
Binance ETHFIUSDT	+0.0066%	4h	0.7133	−0.034%	$24.8M	$37.1M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter ETHFI	+0.0096%	1h	0.7139	+0.040%	$1.1M	$898K	5x	as long as short
Aevo ETHFI-PERP	+0.0096%	1h	0.7121	−0.211%	$8K	—	3x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7139	+0.039%	$18.1M	$8.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7131	−0.073%	$182K	$257K	10x	as long as short
Bybit ETHFIUSDT	+0.0100%	4h	0.7140	+0.058%	$18.2M	$12.9M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7137	+0.016%	$4.9M	$12.5M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7132	−0.054%	$1.7M	$2.0M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7129	−0.096%	$1.2M	$270K	50x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7138	+0.030%	—	$1.2M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7124	−0.168%	$1.0M	$745K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7135	−0.008%	$59K	$85K	5x	as long as short
SunX ETHFI-USDTshort	+0.0100%	4h	0.7131	−0.068%	$1K	$1.1M	20x
BloFin ETHFI-USDT	+0.0293%	4h	0.7114	−0.306%	$1.2M	$291K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0304%	1h	0.7147	+0.156%	$31K	$6K	50x	as long as short