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: dYdX against Paradex−0.044%7-day average −0.053% · 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−$176as in the Price arb table

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

Long on Paradex Short on dYdX

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 paid +0.256%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,773.2	0.0099	pay 0.0099% / 8h	7h 31m	$15.9M	$8.7M	50x
Short	dYdX ETH-USD	2,772	0	get 0.0000% / 1h	31m 07s	$12.2M	$45.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.044%Rate

Funding earned: −$20.85
Price spread: −0.044% → −0.053%: $0.88
Slippage, 4 orders: −$162.7
Fee Paradex: 2 bp × 2 orders: −$4
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$196.67
Costs to cover: 1.767%
Break-even: never at this rate

Slippage from Paradex: live order book, 3 min ago; dYdX: 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 Paradex live order book, 3 min ago	32.74 bp	124.7 bp −$125	133.5 bp −$1,335	doesn't fit	doesn't fit
Sell dYdX live order book, 3 min ago	0.72 bp	7.9 bp −$8	12.2 bp −$122	16.1 bp −$1,608	27.9 bp −$13.9K

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	−0.011%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,771.7	−0.053%	$5.6M	$11.2M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,770.9	−0.084%	$321K	$6.4M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,772.1	−0.040%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,771.3	−0.069%	$168K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,771.1	−0.076%	$878K	$3.7M	25x	as long as short
dYdX ETH-USDshort	0.0000%	1h	2,772	−0.044%	$12.2M	$45.9M	50x
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,771.7	−0.056%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0019%	8h	2,770.6	−0.094%	$269.6M	$67.5M	150x	as long as short
Bullet ETH-USD	+0.0022%	1h	2,770.9	−0.083%	$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	−0.114%	$1.71B	$11.20B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0025% / S +0.0009%	1h	2,771.5	−0.063%	$12.7M	—	200x	as long as short
SoDEX ETH-USD	+0.0033%	1h	2,770.4	−0.101%	$55.2M	$188.0M	40x	as long as short
Aster ETHUSDT	+0.0038%	8h	2,770.1	−0.113%	$256.6M	$886.4M	200x	as long as short
MEXC ETH_USDT	+0.0054%	8h	2,770	−0.114%	$1.62B	$2.63B	500x	as long as short
Binance ETHUSDT	+0.0054%	8h	2,770	−0.114%	$6.47B	$16.36B	150x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,767.9	−0.192%	$5.0M	$165K	20x	as long as short
Aftermath Perps ETHUSD	+0.0065%	1h	2,772	−0.043%	$31K	$23K	20x	as long as short
Bitget ETHUSDT	+0.0072%	8h	2,770.3	−0.106%	$2.10B	$2.88B	150x	as long as short
HTX ETH-USDT	+0.0075%	8h	2,770.7	−0.090%	$1.08B	$1.25B	200x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,771.8	−0.052%	$60.4M	$4.44B	50x	as long as short
Vest ETH-PERP	+0.0082%	1h	2,771.2	−0.071%	—	$876K	50x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,770.6	−0.096%	$420.4M	$631.7M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,770.8	−0.088%	$115.2M	$457.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.2	−0.036%	$25.7M	$111.3M	50x	as long as short
Gate ETH_USDT	+0.0099%	8h	2,770.5	−0.099%	$3.36B	$8.99B	200x	as long as short
Paradex ETH-USD-PERPlong	+0.0099%	8h	2,773.2	long leg	$15.9M	$8.7M	50x
Katana Perps ETH-USD	+0.0100%	8h	2,771.5	−0.062%	$485K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,771	−0.081%	$14.8M	$114.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772.8	−0.015%	$3.17B	$2.24B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,771.6	−0.058%	$31.3M	$323.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,770.5	−0.098%	$2.51B	$4.38B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,767.9	−0.191%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,772.5	−0.027%	$2.8M	$17.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,769.8	−0.122%	$171.6M	$277.9M	25x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,770.3	−0.103%	—	$1.21B	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,770.7	−0.090%	$15.2M	$42.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,770.6	−0.095%	$140.2M	$345.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,769.9	−0.120%	$181.8M	$787.3M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,769.6	−0.132%	$161.0M	$84.9M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,771	−0.080%	$8.7M	$32.2M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,768.5	−0.170%	$21.4M	$62.9M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,771.1	−0.076%	$10.6M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,771.2	−0.072%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,772.7	−0.020%	$42.6M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,770.8	−0.086%	$972K	$13.3M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,769.9	−0.118%	$31.0M	$75.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,771.9	−0.048%	—	$37.0M	500x	as long as short
Kalshi KXETHPERP	+0.0110%	8h	2,771.9	−0.047%	$8.1M	$682.6M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0111%	1h	2,772.1	−0.040%	$259.1M	$207.1M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,771.9	−0.047%	$95.9M	$319.4M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0150%	8h	2,773.4	+0.007%	$32.6M	$11.2M	100x	as long as short
Hibachi ETH/USDT-P	+0.0152%	1h	2,770.1	−0.110%	$252K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0174%	8h	2,770.4	−0.103%	$287.6M	$182.0M	150x	as long as short
Reya ETHRUSDPERP	+0.0211%	1h	2,770.9	−0.082%	$7.3M	$1.2M	25x	as long as short