Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h 0.000%

Price spread now: Pacifica against Paradex−0.129%7-day average −0.043% · 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−$167as in the Price arb table

costs, in and out, $10k−$1591.588% of the position

Long on Paradex Short on Pacifica

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+0.119%+$12 · spread now −0.129%, 7d avg −0.043%

Together, before fees+0.118%+ Points / potential airdropParadex: Active · Pacifica: Active · farm board+$12 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: Pacifica is 0.086% cheaper against Paradex than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,775.2	0.0099	pay 0.0099% / 8h	7h 08m	$15.9M	$8.2M	50x
Short	Pacifica ETH	2,771.6	0.0100	get 0.0013% / 1h	8m 33s	$31.4M	$328.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.129%Rate

Funding earned: $0.12
Price spread: −0.129% → −0.043%: −$8.64
Slippage, 4 orders: −$146.81
Fee Paradex: 2 bp × 2 orders: −$4
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$167.33
Costs to cover: 1.588%
Break-even: 9779.6 days

Slippage from Paradex: live order book, 1 min ago; Pacifica: live order book, 6 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, 1 min ago	36.27 bp	110.6 bp −$111	148.2 bp −$1,482	doesn't fit	doesn't fit
Sell Pacifica live order book, 6 min ago	0.18 bp	4.2 bp −$4	4.8 bp −$48	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	2,773.8	−0.051%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,771.3	−0.140%	$5.6M	$11.1M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,773.8	−0.052%	$323K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,773	−0.079%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0032%	1h	2,771.5	−0.134%	$169K	$1.1M	50x	as long as short
Phoenix ETH	−0.0003%	1h	2,770.8	−0.159%	$872K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,771.7	−0.126%	$12.3M	$42.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,773.2	−0.072%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0006%	8h	2,772.4	−0.101%	$269.8M	$65.9M	150x	as long as short
Bullet ETH-USD	+0.0015%	1h	2,772.8	−0.087%	$185K	$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	+0.0032%	8h	2,771.5	−0.132%	$1.71B	$10.97B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,773.2	−0.071%	$12.7M	—	200x	as long as short
SoDEX ETH-USD	+0.0045%	1h	2,771.8	−0.123%	$55.2M	$187.7M	40x	as long as short
Aster ETHUSDT	+0.0051%	8h	2,771.9	−0.119%	$256.3M	$855.8M	200x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,770.8	−0.161%	$5.0M	$156K	20x	as long as short
MEXC ETH_USDT	+0.0059%	8h	2,770.6	−0.165%	$1.61B	$2.66B	500x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,771.1	−0.147%	$6.48B	$16.04B	150x	as long as short
Aftermath Perps ETHUSD	+0.0072%	1h	2,771.4	−0.136%	$31K	$21K	20x	as long as short
HTX ETH-USDT	+0.0077%	8h	2,771.9	−0.119%	$1.08B	$1.23B	200x	as long as short
Bitget ETHUSDT	+0.0079%	8h	2,771.8	−0.122%	$2.10B	$2.82B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,773.3	−0.068%	$60.4M	$4.40B	50x	as long as short
Gate ETH_USDT	+0.0084%	8h	2,771.2	−0.145%	$3.38B	$9.11B	200x	as long as short
Vest ETH-PERP	+0.0085%	1h	2,772.1	−0.113%	—	$876K	50x	as long as short
ApeX Omni ETHUSDT	+0.0089%	1h	2,769	−0.224%	$8.6M	$31.4M	100x	as long as short
KuCoin ETHUSDTM	+0.0089%	8h	2,772.5	−0.099%	$420.9M	$594.3M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,771.4	−0.139%	$115.2M	$460.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.5	−0.097%	$25.6M	$112.1M	50x	as long as short
Paradex ETH-USD-PERPlong	+0.0099%	8h	2,775.2	long leg	$15.9M	$8.2M	50x
Katana Perps ETH-USD	+0.0100%	8h	2,771.8	−0.123%	$486K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,771.5	−0.134%	$14.5M	$112.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,774	−0.043%	$3.17B	$2.10B	25x	as long as short
Pacifica ETHshort	+0.0100%	1h	2,771.6	−0.129%	$31.4M	$328.9M	50x
Bybit ETHUSDT	+0.0100%	8h	2,771.9	−0.118%	$2.51B	$4.27B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,770.8	−0.159%	$2.8M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,771.8	−0.123%	$2.8M	$16.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,763.5	−0.421%	$172.0M	$292.0M	25x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,770.9	−0.154%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,772.3	−0.107%	$15.2M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,769.2	−0.218%	$134.1M	$347.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,768.6	−0.240%	$183.7M	$750.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.4	−0.138%	$161.1M	$84.1M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,773.8	−0.051%	$21.5M	$64.3M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,771.6	−0.130%	$10.5M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,773.3	−0.070%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,774.2	−0.036%	$42.6M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,772.3	−0.104%	$972K	$12.8M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.5	−0.168%	$30.9M	$74.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,773.9	−0.047%	—	$36.0M	500x	as long as short
Kalshi KXETHPERP	+0.0116%	8h	2,774.8	−0.015%	$8.2M	$673.4M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,773.4	−0.065%	$98.0M	$314.3M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0157%	8h	2,775.1	−0.005%	$32.7M	$11.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0160%	1h	2,774.3	−0.034%	$253K	$1.5M	20x	as long as short
Deribit ETH-PERPETUAL	+0.0168%	1h	2,773.5	−0.060%	$259.1M	$201.6M	50x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,771.6	−0.132%	$288.0M	$175.4M	150x	as long as short
Reya ETHRUSDPERP	+0.0214%	1h	2,771.6	−0.129%	$7.3M	$1.1M	25x	as long as short