Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h −0.007%

Price spread now: Aevo against Paradex−0.276%7-day average −0.155% · 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−$52as in the Price arb table

costs, in and out, $10k−$390.395% of the position

Long on Paradex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.024%−$2 on $10k

Price spread, last 3 days (all we have)+0.091%+$9 · spread now −0.276%, 7d avg −0.155%

Together, before fees+0.068%+ Points / potential airdropParadex: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aevo is 0.121% cheaper against Paradex than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.155%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,750.7	0.0099	pay 0.0099% / 8h	6h 19m	$16.3M	$8.2M	50x
Short	Aevo ETH-PERP	2,743.1	0.0080	get 0.0010% / 1h	19m 56s	$4.9M	$168K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo 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 AevobpOrdersPrice spread, now −0.276%Rate

Funding earned: −$4.08
Price spread: −0.276% → −0.155%: −$12.07
Slippage, 4 orders: −$19.49
Fee Paradex: 2 bp × 2 orders: −$4
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$55.64
Costs to cover: 0.395%
Break-even: never at this rate

Slippage from Paradex: live order book, 4 min ago; Aevo: live order book, 4 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 Paradex live order book, 4 min ago	1.54 bp	3.5 bp −$4	3.5 bp −$35	doesn't fit	doesn't fit
Sell Aevo live order book, 4 min ago	3.93 bp	19.7 bp −$20	42.3 bp −$423	doesn't fit	doesn't fit

ETH on 54 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	−0.0112%	43m	2,747.6	−0.112%	$310K	$6.0M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,750	−0.026%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,746.6	−0.149%	$5.7M	$11.4M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,746.4	−0.156%	$12.1M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,752.8	+0.076%	$849K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,747	−0.134%	$10.8M	$42.1M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,746.4	−0.156%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0024%	1h	2,747.1	−0.131%	$181K	$1.1M	50x	as long as short
ApeX Omni ETHUSDT	+0.0028%	1h	2,751.6	+0.033%	$8.7M	$31.5M	100x	as long as short
BingX ETH-USDT	+0.0037%	8h	2,747.2	−0.128%	—	$1.18B	—	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0047%	8h	2,747.8	−0.106%	$1.69B	$10.96B	100x	as long as short
HTX ETH-USDT	+0.0055%	8h	2,745.6	−0.185%	$1.06B	$1.20B	200x	as long as short
Aster ETHUSDT	+0.0070%	8h	2,747.5	−0.118%	$253.0M	$858.2M	200x	as long as short
KuCoin ETHUSDTM	+0.0071%	8h	2,747.6	−0.114%	$372.4M	$610.1M	100x	as long as short
Aevo ETH-PERPshort	+0.0080%	1h	2,743.1	−0.276%	$4.9M	$168K	20x
MEXC ETH_USDT	+0.0081%	8h	2,747.8	−0.107%	$1.56B	$2.57B	500x	as long as short
Binance ETHUSDT	+0.0081%	8h	2,747.7	−0.110%	$6.38B	$16.22B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,746.9	−0.139%	$58.9M	$4.34B	50x	as long as short
Gate ETH_USDT	+0.0091%	8h	2,747.6	−0.113%	$3.39B	$8.91B	200x	as long as short
Bitget ETHUSDT	+0.0094%	8h	2,747.9	−0.102%	$2.08B	$2.84B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,746.1	−0.169%	$112.9M	$443.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,747.7	−0.110%	$24.8M	$107.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,746.6	−0.148%	—	$35.6M	500x	as long as short
Paradex ETH-USD-PERPlong	+0.0099%	8h	2,750.7	long leg	$16.3M	$8.2M	50x
Katana Perps ETH-USD	+0.0100%	8h	2,746	−0.171%	$478K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,746.2	−0.163%	$14.0M	$112.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,748.5	−0.080%	$3.13B	$2.10B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,747.3	−0.126%	$31.5M	$333.9M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,747.7	−0.108%	$2.46B	$4.33B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,746.1	−0.168%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,747	−0.136%	$2.8M	$16.5M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,746.8	−0.142%	$15.0M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,748.7	−0.072%	$133.2M	$345.9M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,750.9	+0.007%	$181.9M	$703.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,752	+0.046%	$160.0M	$83.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,752.7	+0.072%	$21.3M	$68.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,748	−0.099%	—	$869K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,746.8	−0.142%	$10.7M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,746	−0.170%	$182K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,746.5	−0.155%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,747.5	−0.115%	$41.8M	$29.5M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,746.2	−0.164%	$963K	$12.3M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,745.5	−0.189%	$54.7M	$187.7M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,745.9	−0.174%	$267.0M	$65.9M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,751.8	+0.040%	$165.7M	$300.7M	25x	as long as short
Aftermath Perps ETHUSD	+0.0101%	1h	2,750.5	−0.008%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,747	−0.134%	$30.5M	$73.5M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0118%	1h	2,747.1	−0.131%	$258.5M	$199.9M	50x	as long as short
Kalshi KXETHPERP	+0.0143%	8h	2,747.3	−0.124%	$7.7M	$674.5M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0172%	8h	2,748.3	−0.087%	$32.3M	$11.1M	100x	as long as short
Hibachi ETH/USDT-P	+0.0208%	1h	2,750.9	+0.008%	$250K	$1.5M	20x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,750.8	+0.003%	$118K	$22.5M	52x	as long as short
Reya ETHRUSDPERP	+0.0221%	1h	2,746	−0.172%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0354%	1h	2,746.5	−0.155%	$89.1M	$317.0M	100x	as long as short