Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0026%/8h= +2.9% APRpaid last 24h +0.014%

Price spread now: Paradex against ApeX Omni−0.069%7-day average +0.047% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on ApeX Omni Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.115%+$11 on $10k

Price spread, last 7 days+0.079%+$8 · spread now −0.069%, 7d avg +0.047%

Together, before fees+0.194%+ Points / potential airdropParadex: Active · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Paradex is 0.116% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.069% now, against its 7-day average of +0.047%). If the spread goes back, that is −$12 on $10k: about 15 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.115% in total) that is about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ETHUSDT	2,732.1	0.0074	pay 0.0009% / 1h	23m 30s	$8.6M	$31.2M	100x
Short	Paradex ETH-USD-PERP	2,730.2	0.0100	get 0.0100% / 8h	3h 23m	$15.6M	$7.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against ApeX Omni. 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 ApeX OmnibpFee ParadexbpOrdersPrice spread, now −0.069%Rate

Funding earned: $5.5
Price spread: −0.069% → +0.047%: −$11.63
Slippage, 4 orders: −$5.77
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$25.91
Costs to cover: 0.198%
Break-even: 40.0 days

Slippage from ApeX Omni: live order book, 1 min ago; Paradex: live order book, 1 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 ApeX Omni live order book, 1 min ago	0.28 bp	5.3 bp −$5	5.3 bp −$53	15.0 bp −$1,502	49.4 bp −$24.7K
Sell Paradex live order book, 1 min ago	2.18 bp	4.2 bp −$4	4.2 bp −$42	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
Perpl ETH	−0.0335%	43m	2,728.4	−0.133%	$296K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,729.5	−0.094%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0016%	8h	2,728.3	−0.139%	$1.05B	$1.20B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,729.4	−0.099%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,730.2	−0.068%	$816K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,728.8	−0.119%	$28.0M	—	200x	as long as short
dYdX ETH-USD	+0.0008%	1h	2,729.7	−0.086%	$10.7M	$42.1M	50x	as long as short
Bullet ETH-USD	+0.0023%	1h	2,728.1	−0.145%	$178K	$1.7M	20x	as long as short
BingX ETH-USDT	+0.0033%	8h	2,728.2	−0.140%	—	$1.14B	—	as long as short
Bybit ETHUSDT	+0.0038%	8h	2,728	−0.148%	$2.36B	$4.37B	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ETHUSD	+0.0048%	1h	2,728.9	−0.116%	$186K	$815K	50x	as long as short
Deribit ETH-PERPETUAL	+0.0065%	1h	2,730.2	−0.069%	$259.5M	$200.2M	50x	as long as short
KuCoin ETHUSDTM	+0.0066%	8h	2,728.4	−0.133%	$378.9M	$574.0M	100x	as long as short
SunX ETH-USDT	+0.0066%	8h	2,728	−0.150%	$956K	$11.2M	100x	as long as short
ApeX Omni ETHUSDTlong	+0.0074%	1h	2,732.1	long leg	$8.6M	$31.2M	100x
OKX ETH-USDT-SWAP	+0.0076%	8h	2,728.2	−0.141%	$1.67B	$10.73B	100x	as long as short
Aster ETHUSDT	+0.0080%	8h	2,728.3	−0.139%	$250.6M	$841.0M	200x	as long as short
Phemex ETHUSDT	+0.0086%	8h	2,729	−0.111%	$264.5M	$65.1M	150x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,728.2	−0.140%	$6.34B	$15.93B	150x	as long as short
MEXC ETH_USDT	+0.0088%	8h	2,728.2	−0.143%	$1.55B	$2.57B	500x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,727.6	−0.162%	$4.9M	$155K	20x	as long as short
SoDEX ETH-USD	+0.0090%	1h	2,728.9	−0.116%	$54.3M	$187.7M	40x	as long as short
Lighter ETH	+0.0096%	1h	2,729.4	−0.097%	$112.6M	$434.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,730.6	−0.053%	$23.4M	$104.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,729.6	−0.092%	—	$31.0M	500x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,733.1	+0.038%	$117K	$22.5M	52x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,728.2	−0.141%	$497K	$3.3M	50x	as long as short
Paradex ETH-USD-PERPshort	+0.0100%	8h	2,730.2	−0.069%	$15.6M	$7.9M	50x
Nado ETH-PERP	+0.0100%	1h	2,729.2	−0.103%	$13.7M	$104.5M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,730.3	−0.064%	$3.09B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,729.5	−0.094%	$31.8M	$333.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,728.5	−0.130%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,729.3	−0.102%	$1.5M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,728.2	−0.140%	$169.5M	$307.4M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,728.6	−0.128%	$3.33B	$8.91B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,728.5	−0.131%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,729.2	−0.104%	$14.9M	$40.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,729.6	−0.089%	$133.3M	$321.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,731.8	−0.009%	$183.8M	$670.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,729.6	−0.090%	$158.8M	$86.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,729.6	−0.090%	$21.0M	$69.7M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,729.6	−0.091%	—	$844K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,729.8	−0.083%	$11.2M	$9.3M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,729.8	−0.081%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,731	−0.040%	$41.2M	$29.9M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,727.4	−0.169%	$30.6M	$73.2M	50x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,728.9	−0.114%	$5.6M	$11.8M	25x	as long as short
Aftermath Perps ETHUSD	+0.0110%	1h	2,732.7	+0.025%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0113%	8h	2,730	−0.075%	$6.5M	$684.1M	4.9x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,729.7	−0.086%	$50.9M	$4.28B	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,729.5	−0.092%	$83.2M	$315.1M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0195%	8h	2,731.6	−0.016%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0210%	1h	2,727.4	−0.169%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,730.4	−0.061%	$242K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0358%	8h	2,728.9	−0.114%	$282.7M	$174.8M	150x	as long as short