Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h 0.000%

Price spread now: edgeX against Paradex+0.079%52s7-day average −0.081% · 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—prices read too far apart to compare

costs, in and out, $10k−$1711.706% of the position

Long on Paradex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days−0.109%−$11 · spread now +0.079%, 7d avg −0.081%

Together, before fees−0.108%+ Points / potential airdropParadex: Active · edgeX: Active · farm board−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.161% dearer against Paradex than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.081%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,770.8	0.0099	pay 0.0099% / 8h	7h 33m	$15.9M	$8.8M	50x
Short	edgeX ETHUSDC	2,773	0.0100	get 0.0050% / 4h	3h 33m	$182.0M	$786.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.079%Rate

Funding earned: $0.15
Price spread: +0.079% → −0.081%: $16.07
Slippage, 4 orders: −$157.64
Fee Paradex: 2 bp × 2 orders: −$4
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$154.42
Costs to cover: 1.706%
Break-even: 7082.3 days

Slippage from Paradex: live order book, just now; edgeX: live order book, 5 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, just now	32.74 bp	124.7 bp −$125	133.5 bp −$1,335	doesn't fit	doesn't fit
Sell edgeX live order book, 5 min ago	0.09 bp	5.2 bp −$5	5.2 bp −$52	5.4 bp −$544	7.3 bp −$3,665

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	2,762.9	−0.283%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,770.8	+0.002%	$5.6M	$11.3M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,769.6	−0.041%	$321K	$6.3M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,771	+0.009%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,770.3	−0.016%	$168K	$1.1M	50x	as long as short
Phemex ETHUSDT	−0.0020%	8h	2,770.8	+0.001%	$269.7M	$67.4M	150x	as long as short
Phoenix ETH	−0.0003%	1h	2,771.5	+0.027%	$876K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,771	+0.009%	$12.2M	$45.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,771.4	+0.025%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0024%	8h	2,771.3	+0.021%	$1.71B	$11.21B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet ETH-USD	+0.0024%	1h	2,770.6	−0.007%	$184K	$1.7M	20x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0025% / S +0.0009%	1h	2,771.3	+0.019%	$12.7M	—	200x	as long as short
SoDEX ETH-USD	+0.0036%	1h	2,771	+0.009%	$55.2M	$188.0M	40x	as long as short
Aster ETHUSDT	+0.0039%	8h	2,771.2	+0.016%	$256.7M	$885.7M	200x	as long as short
MEXC ETH_USDT	+0.0054%	8h	2,771.4	+0.024%	$1.63B	$2.63B	500x	as long as short
Binance ETHUSDT	+0.0054%	8h	2,771.3	+0.021%	$6.47B	$16.38B	150x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,768.6	−0.079%	$5.0M	$165K	20x	as long as short
Aftermath Perps ETHUSD	+0.0062%	1h	2,772.2	+0.054%	$31K	$23K	20x	as long as short
HTX ETH-USDT	+0.0066%	8h	2,770.6	−0.006%	$1.08B	$1.26B	200x	as long as short
Bitget ETHUSDT	+0.0071%	8h	2,770.8	+0.002%	$2.10B	$2.88B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,772.4	+0.059%	$60.3M	$4.45B	50x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,770.3	−0.015%	$420.1M	$632.9M	100x	as long as short
Vest ETH-PERP	+0.0083%	1h	2,770.9	+0.005%	—	$878K	50x	as long as short
Gate ETH_USDT	+0.0089%	8h	2,770.3	−0.017%	$3.35B	$8.97B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,772	+0.044%	$115.3M	$457.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.6	+0.066%	$25.8M	$111.2M	50x	as long as short
Paradex ETH-USD-PERPlong	+0.0099%	8h	2,770.8	long leg	$15.9M	$8.8M	50x
SunX ETH-USDT	+0.0099%	8h	2,770.3	−0.015%	$972K	$13.3M	100x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,770.4	−0.013%	$486K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,770.6	−0.004%	$14.8M	$114.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,773.3	+0.092%	$3.17B	$2.24B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,771.7	+0.034%	$31.3M	$323.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,771.7	+0.035%	$2.51B	$4.38B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,770.2	−0.020%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,771.4	+0.024%	$2.8M	$17.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,769.8	−0.033%	$171.6M	$277.9M	25x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,770.6	−0.004%	—	$17.4M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,771.6	+0.030%	$15.2M	$42.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,772.3	+0.055%	$142.1M	$343.8M	—	as long as short
edgeX ETHUSDCshort	+0.0100%	4h	2,773	+0.079%	$182.0M	$786.6M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.5	+0.026%	$161.2M	$84.7M	50x	as long as short
ApeX Omni ETHUSDT	+0.0100%	1h	2,772.1	+0.048%	$8.7M	$32.2M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	2,770.5	−0.009%	$21.4M	$62.1M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,770.6	−0.006%	$10.6M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,771.1	+0.013%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,773	+0.083%	$42.6M	$29.0M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,769.7	−0.038%	$30.9M	$74.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,771.4	+0.024%	—	$37.0M	500x	as long as short
Kalshi KXETHPERP	+0.0108%	8h	2,771.5	+0.027%	$8.0M	$682.9M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0111%	1h	2,772.5	+0.063%	$259.1M	$207.2M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,772.5	+0.064%	$93.4M	$316.5M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0149%	8h	2,773.9	+0.112%	$32.6M	$11.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0152%	1h	2,773.9	+0.112%	$253K	$1.5M	20x	as long as short
BloFin ETH-USDT	+0.0175%	8h	2,768.4	−0.084%	$287.6M	$185.9M	150x	as long as short
Reya ETHRUSDPERP	+0.0210%	1h	2,770.5	−0.009%	$7.3M	$1.2M	25x	as long as short