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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 04:00 UTC+0.0089%/8h= +9.8% APRpaid last 24h +0.008%
Price spread now: Paradex against Bullet+0.185%7-day average +0.039% · 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−$5as in the Price arb table
costs, in and out, $10k−$190.195% of the position
Long on BulletShort on Paradex
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.047%+$5 on $10k
Price spread, last 7 days−0.168%−$17 · spread now +0.185%, 7d avg +0.039%
Together, before fees−0.121%+ Points / potential airdropParadex: Active · farm board−$12 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Paradex is 0.147% dearer against Bullet than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.039%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet ETH-USD2,732.50.0009pay 0.0001% / 1h20m 20s$179K$1.7M20x
ShortParadex ETH-USD-PERP2,737.60.0099get 0.0099% / 8h4h 20m$15.5M$8.0M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Paradex against Bullet. 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

Funding earned
$18.75
Price spread: +0.185% → +0.039%
$14.67
Slippage, 4 orders
−$7.47
Fee Bullet: 4 bp × 2 orders
−$8
Fee Paradex: 2 bp × 2 orders
−$4
Net
$13.94
Costs to cover
0.195%
Break-even
1.8 days
Slippage from Bullet: live order book, 4 min ago; Paradex: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bullet live order book, 4 min ago0.18 bp5.7 bp −$69.3 bp −$93doesn't fitdoesn't fit
Sell Paradex live order book, 4 min ago2.34 bp4.3 bp −$44.3 bp −$43doesn't fitdoesn't fit

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ETH−0.0447%43m2,733.5+0.035%$297K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,734.2+0.062%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,732.8+0.011%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,733+0.019%$11.9M—200xas long as short
dYdX ETH-USD0.0000%1h2,733+0.018%$10.8M$41.6M50xas long as short
01 Exchange ETHUSD0.0000%1h2,733+0.018%$187K$823K50xas long as short
Phoenix ETH0.0000%1h2,735+0.091%$830K$2.9M25xas long as short
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,733.1+0.020%$28.1M—200xas long as short
Bullet ETH-USDlong+0.0009%1h2,732.5long leg$179K$1.7M20x
ApeX Omni ETHUSDT+0.0043%1h2,735+0.090%$8.7M$31.3M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX ETH-USDT+0.0046%8h2,731.4−0.041%$1.06B$1.20B200xas long as short
BingX ETH-USDC+0.0055%8h2,731.9−0.021%—$18.4M—as long as short
Bybit ETHUSDT+0.0061%8h2,732.4−0.003%$2.38B$4.35B150xas long as short
KuCoin ETHUSDTM+0.0064%8h2,733+0.019%$380.3M$574.5M100xas long as short
OKX ETH-USDT-SWAP+0.0071%8h2,732.5+0.001%$1.67B$10.71B100xas long as short
Phemex ETHUSDT+0.0074%8h2,731.9−0.023%$265.6M$65.3M150xas long as short
Aster ETHUSDT+0.0086%8h2,733.3+0.028%$251.0M$842.5M200xas long as short
SoDEX ETH-USD+0.0088%1h2,732.50.000%$54.4M$187.6M40xas long as short
Binance ETHUSDT+0.0095%8h2,732.8+0.012%$6.35B$15.87B150xas long as short
MEXC ETH_USDT+0.0095%8h2,732.7+0.008%$1.55B$2.56B500xas long as short
Lighter ETH+0.0096%1h2,733.6+0.039%$112.9M$440.1M50xas long as short
Lighter RH ETH+0.0096%1h2,734.8+0.085%$23.4M$106.5M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,732.7+0.007%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,730.1−0.087%$4.9M$155K20xas long as short
Paradex ETH-USD-PERPshort+0.0099%8h2,737.6+0.185%$15.5M$8.0M50x
RISEx ETH/USDC+0.0099%1h2,734.1+0.060%$5.5M$11.6M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,732.6+0.004%$500K$3.2M50xas long as short
Nado ETH-PERP+0.0100%1h2,733.5+0.037%$13.7M$104.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,734.6+0.078%$3.10B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,734.4+0.070%$31.9M$334.7M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,732.6+0.004%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,734.1+0.060%$1.6M$16.2M25xas long as short
Gate ETH_USDT+0.0100%8h2,732.7+0.006%$3.34B$8.91B200xas long as short
Bitget ETHUSDT+0.0100%8h2,732.6+0.004%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,731.8−0.025%$15.0M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,731.5−0.038%$133.7M$325.4M—as long as short
edgeX ETHUSDC+0.0100%4h2,734.1+0.059%$183.9M$671.3M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,734.9+0.087%$159.1M$86.4M50xas long as short
StandX ETH-USD+0.0100%1h2,734.3+0.066%$21.1M$68.1M40xas long as short
Vest ETH-PERP+0.0100%1h2,733.5+0.035%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,734.2+0.062%$11.2M$9.2M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,733.2+0.025%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,733.7+0.045%$41.3M$29.9M15xas long as short
SunX ETH-USDT+0.0100%8h2,731.4−0.041%$958K$11.3M100xas long as short
Bulk ETH-USD+0.0100%1h2,734.8+0.085%$164.8M$300.4M25xas long as short
Extended ETH-USD+0.0104%1h2,732.8+0.012%$30.3M$72.6M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,733.5+0.037%$51.3M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0114%1h2,734.4+0.069%$30K$20K20xas long as short
Deribit ETH-PERPETUAL+0.0127%1h2,733.9+0.052%$260.1M$195.7M50xas long as short
Kalshi KXETHPERP+0.0139%8h2,732.50.000%$6.8M$678.5M4.9xas long as short
Orderly PERP_ETH_USDC+0.0194%8h2,734.9+0.087%$32.2M$11.6M100xas long as short
Reya ETHRUSDPERP+0.0219%1h2,731.7−0.029%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,733.1+0.021%$83.3M$314.7M100xas long as short
Hibachi ETH/USDT-P+0.0264%1h2,735.3+0.102%$253K$1.4M20xas long as short
BloFin ETH-USDT+0.0381%8h2,732.1−0.014%$282.3M$175.5M150xas long as short