Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h −0.023%

Price spread now: Paradex against dYdX+0.044%7-day average +0.053% · 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−$178as in the Price arb table

costs, in and out, $10k−$1771.767% of the position

Long on dYdX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.256%−$26 on $10k

Price spread, last 7 days−0.119%−$12 · spread now +0.044%, 7d avg +0.053%

Together, before fees−0.375%+ Points / potential airdropParadex: Active · farm board−$37 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.053%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.256%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ETH-USD	2,772	0	get 0.0000% / 1h	30m 49s	$12.2M	$45.9M	50x
Short	Paradex ETH-USD-PERP	2,773.2	0.0099	get 0.0099% / 8h	7h 30m	$15.9M	$8.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against dYdX. 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 dYdXbpFee ParadexbpOrdersPrice spread, now +0.044%Rate

Funding earned: $20.85
Price spread: +0.044% → +0.053%: −$0.88
Slippage, 4 orders: −$162.7
Fee dYdX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$156.74
Costs to cover: 1.767%
Break-even: 59.6 days

Slippage from dYdX: live order book, 3 min ago; Paradex: live order book, 3 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 dYdX live order book, 3 min ago	0.72 bp	9.3 bp −$9	18.2 bp −$182	23.3 bp −$2,329	32.6 bp −$16.3K
Sell Paradex live order book, 3 min ago	32.74 bp	34.7 bp −$35	39.0 bp −$390	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
Injective ETH/USDC PERP	−0.0752%	1h	2,772.9	+0.033%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,771.7	−0.009%	$5.6M	$11.2M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,770.9	−0.040%	$321K	$6.4M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,772.1	+0.004%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,771.3	−0.024%	$168K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,771.1	−0.032%	$878K	$3.7M	25x	as long as short
dYdX ETH-USDlong	0.0000%	1h	2,772	long leg	$12.2M	$45.9M	50x
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,771.7	−0.011%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0019%	8h	2,770.6	−0.050%	$269.6M	$67.5M	150x	as long as short
Bullet ETH-USD	+0.0022%	1h	2,770.9	−0.039%	$183K	$1.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0025%	8h	2,770	−0.070%	$1.71B	$11.20B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0025% / S +0.0009%	1h	2,771.5	−0.018%	$12.7M	—	200x	as long as short
SoDEX ETH-USD	+0.0033%	1h	2,770.4	−0.057%	$55.2M	$188.0M	40x	as long as short
Aster ETHUSDT	+0.0038%	8h	2,770.1	−0.066%	$256.6M	$886.4M	200x	as long as short
MEXC ETH_USDT	+0.0054%	8h	2,770	−0.071%	$1.62B	$2.63B	500x	as long as short
Binance ETHUSDT	+0.0054%	8h	2,770	−0.071%	$6.47B	$16.36B	150x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,767.9	−0.147%	$5.0M	$165K	20x	as long as short
Aftermath Perps ETHUSD	+0.0065%	1h	2,772	+0.001%	$31K	$23K	20x	as long as short
Bitget ETHUSDT	+0.0072%	8h	2,770.1	−0.068%	$2.10B	$2.88B	150x	as long as short
HTX ETH-USDT	+0.0075%	8h	2,770.7	−0.046%	$1.08B	$1.25B	200x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,771.8	−0.008%	$60.4M	$4.44B	50x	as long as short
Vest ETH-PERP	+0.0082%	1h	2,771.2	−0.026%	—	$876K	50x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,770.3	−0.061%	$420.4M	$631.7M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,770.8	−0.044%	$115.2M	$457.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.2	+0.008%	$25.7M	$111.3M	50x	as long as short
Gate ETH_USDT	+0.0099%	8h	2,770.3	−0.062%	$3.36B	$8.99B	200x	as long as short
Paradex ETH-USD-PERPshort	+0.0099%	8h	2,773.2	+0.044%	$15.9M	$8.7M	50x
Katana Perps ETH-USD	+0.0100%	8h	2,771.5	−0.017%	$485K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,771	−0.036%	$14.8M	$114.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772.8	+0.030%	$3.17B	$2.24B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,771.6	−0.014%	$31.3M	$323.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,770.5	−0.055%	$2.51B	$4.38B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,767.9	−0.147%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,772.5	+0.018%	$2.8M	$17.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,769.8	−0.077%	$171.6M	$277.9M	25x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,770.2	−0.064%	—	$1.21B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,770.7	−0.045%	$15.2M	$42.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,770.6	−0.051%	$140.2M	$345.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,769.9	−0.075%	$181.8M	$787.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,769.6	−0.087%	$161.0M	$84.9M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,771	−0.036%	$8.7M	$32.2M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,768.5	−0.125%	$21.4M	$62.9M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,771.1	−0.032%	$10.6M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,771.2	−0.028%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,772.7	+0.025%	$42.6M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,770.8	−0.042%	$972K	$13.3M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,769.5	−0.090%	$31.0M	$74.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,771.9	−0.004%	—	$37.0M	500x	as long as short
Kalshi KXETHPERP	+0.0110%	8h	2,771.9	−0.003%	$8.1M	$682.6M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0111%	1h	2,772.1	+0.004%	$259.1M	$207.1M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,771.9	−0.003%	$95.9M	$319.4M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0150%	8h	2,773.4	+0.052%	$32.6M	$11.2M	100x	as long as short
Hibachi ETH/USDT-P	+0.0152%	1h	2,770.1	−0.066%	$252K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0174%	8h	2,770.4	−0.058%	$287.6M	$182.0M	150x	as long as short
Reya ETHRUSDPERP	+0.0211%	1h	2,770.9	−0.038%	$7.3M	$1.2M	25x	as long as short