Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h −0.013%

Price spread now: ApeX Omni against Paradex+0.081%7-day average −0.048% · 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−$8as in the Price arb table

costs, in and out, $10k−$210.206% of the position

Long on Paradex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.114%−$11 on $10k

Price spread, last 7 days−0.100%−$10 · spread now +0.081%, 7d avg −0.048%

Together, before fees−0.213%+ Points / potential airdropParadex: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.129% dearer against Paradex than usual: you sell high and buy low (spread +0.081% now, against its 7-day average of −0.048%): +$13 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 18 days. At the pace of the last 4 days (−0.114% in total) that is about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,718.5	0.0100	pay 0.0100% / 8h	2h 27m	$15.1M	$8.0M	50x
Short	ApeX Omni ETHUSDT	2,720.7	0.0076	get 0.0010% / 1h	27m 13s	$8.6M	$31.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now +0.081%Rate

Funding earned: −$4.99
Price spread: +0.081% → −0.048%: $12.92
Slippage, 4 orders: −$6.57
Fee Paradex: 2 bp × 2 orders: −$4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$12.64
Costs to cover: 0.206%
Break-even: never at this rate

Slippage from Paradex: live order book, 2 min ago; ApeX Omni: live order book, 2 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, 2 min ago	1.93 bp	4.1 bp −$4	4.3 bp −$43	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 2 min ago	0.46 bp	5.5 bp −$5	5.5 bp −$55	19.9 bp −$1,985	72.9 bp −$36.5K

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	−0.0447%	43m	2,716.2	−0.085%	$281K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,716.5	−0.074%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0013%	8h	2,715	−0.129%	$1.05B	$1.21B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,715.5	−0.112%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0009%	1h	2,719.7	+0.044%	$814K	$3.0M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,715.4	−0.115%	$31.6M	—	200x	as long as short
Injective ETH/USDC PERP	+0.0009%	1h	2,713.7	−0.177%	$116K	$22.5M	52x	as long as short
dYdX ETH-USD	+0.0009%	1h	2,717.3	−0.045%	$10.7M	$42.0M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0030%	1h	2,716.5	−0.074%	$258.8M	$206.6M	50x	as long as short
BingX ETH-USDT	+0.0033%	8h	2,715.2	−0.124%	—	$1.14B	—	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	+0.0040%	1h	2,716.6	−0.070%	$189K	$799K	50x	as long as short
Bybit ETHUSDT	+0.0043%	8h	2,715.4	−0.116%	$2.34B	$4.40B	150x	as long as short
SunX ETH-USDT	+0.0066%	8h	2,714.7	−0.139%	$953K	$11.1M	100x	as long as short
Bullet ETH-USD	+0.0071%	1h	2,715.3	−0.118%	$179K	$1.7M	20x	as long as short
ApeX Omni ETHUSDTshort	+0.0076%	1h	2,720.7	+0.081%	$8.6M	$31.4M	100x
KuCoin ETHUSDTM	+0.0077%	8h	2,715.5	−0.111%	$374.2M	$577.6M	100x	as long as short
Aftermath Perps ETHUSD	+0.0077%	1h	2,719.6	+0.040%	$30K	$20K	20x	as long as short
Aster ETHUSDT	+0.0084%	8h	2,715.7	−0.104%	$251.2M	$843.2M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,712.7	−0.213%	$4.9M	$155K	20x	as long as short
MEXC ETH_USDT	+0.0091%	8h	2,715.7	−0.104%	$1.54B	$2.58B	500x	as long as short
Binance ETHUSDT	+0.0091%	8h	2,715.5	−0.113%	$6.28B	$16.07B	150x	as long as short
OKX ETH-USDT-SWAP	+0.0093%	8h	2,715.5	−0.109%	$1.65B	$10.77B	100x	as long as short
Lighter ETH	+0.0096%	1h	2,716	−0.091%	$111.5M	$433.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,716.9	−0.059%	$23.3M	$103.4M	50x	as long as short
Phemex ETHUSDT	+0.0098%	8h	2,715.5	−0.110%	$262.1M	$64.5M	150x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,715.7	−0.103%	$496K	$3.4M	50x	as long as short
Paradex ETH-USD-PERPlong	+0.0100%	8h	2,718.5	long leg	$15.1M	$8.0M	50x
Nado ETH-PERP	+0.0100%	1h	2,715.8	−0.101%	$13.8M	$105.1M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,718.1	−0.015%	$3.08B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,717.2	−0.048%	$31.9M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,715.6	−0.107%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,716.5	−0.076%	$1.5M	$16.2M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,719	+0.017%	$161.7M	$327.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,715.4	−0.116%	$3.29B	$8.96B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,715.2	−0.121%	$2.07B	$2.78B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,716	−0.091%	$14.9M	$43.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,716.7	−0.065%	$132.7M	$328.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,719.8	+0.047%	$184.2M	$675.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,720.2	+0.060%	$158.3M	$87.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,718	−0.019%	$20.9M	$70.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,717.6	−0.035%	—	$875K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,717.1	−0.052%	$11.1M	$9.5M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,715.9	−0.095%	$22K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,716.8	−0.064%	$40.7M	$30.1M	15x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,715.3	−0.118%	$54.1M	$187.8M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,714.5	−0.148%	$30.5M	$74.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,716.1	−0.088%	—	$31.3M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,716.4	−0.076%	$49.6M	$4.28B	50x	as long as short
RISEx ETH/USDC	+0.0108%	1h	2,716.4	−0.079%	$5.5M	$11.8M	25x	as long as short
Kalshi KXETHPERP	+0.0157%	8h	2,716	−0.092%	$6.5M	$692.5M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0177%	1h	2,715.9	−0.096%	$82.6M	$315.3M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0188%	8h	2,717.2	−0.049%	$32.0M	$11.4M	100x	as long as short
Reya ETHRUSDPERP	+0.0200%	1h	2,714.9	−0.134%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0256%	1h	2,717.1	−0.052%	$248K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0365%	8h	2,715.6	−0.106%	$280.3M	$173.7M	150x	as long as short