ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0064%/8h= −7.0% APRnext payment −$0.64 per $10,000 · paid last 24h −0.012%

Price spread now: Phemex against Paradex−0.007%7-day average −0.097% · 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−$189as in the Price arb table

costs, in and out, $10k−$1981.978% of the position

Long on Paradex Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.030%−$3 on $10k

Price spread, last 3 days (all we have)−0.104%−$10 · spread now −0.007%, 7d avg −0.097%

Together, before fees−0.134%+ Points / potential airdropParadex: Active · farm board−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.090% dearer against Paradex than usual: you sell high and buy low (spread −0.007% now, against its 7-day average of −0.097%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.7 days. At the pace of the last 4 days (−0.030% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,768.8	0.0099	pay 0.0099% / 8h	20m 48s	$15.9M	$10.1M	50x
Short	Phemex ETHUSDT	2,768.6	0.0036	get 0.0036% / 8h	20m 48s	$270.0M	$68.9M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$13.37
Price spread: −0.007% → −0.097%: $8.99
Slippage, 4 orders: −$181.79
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$202.17
Costs to cover: 1.978%
Break-even: never at this rate

Slippage from Paradex: live order book, 3 min ago; Phemex: 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	90.88 bp	92.9 bp −$93	98.3 bp −$983	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	0.02 bp	6.0 bp −$6	7.2 bp −$72	10.9 bp −$1,095	15.4 bp −$7,711

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	−0.0223%	43m	2,770.1	+0.048%	$286K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,769.6	+0.027%	$5.6M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,762.1	−0.243%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,769.4	+0.021%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0043%	1h	2,766.6	−0.082%	$8.8M	$32.9M	100x	as long as short
01 Exchange ETHUSD	−0.0008%	1h	2,770.7	+0.068%	$168K	$1.2M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,771.7	+0.102%	$12.7M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,769.9	+0.039%	$876K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,768.8	0.000%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0022%	8h	2,770.3	+0.054%	$1.70B	$11.88B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps ETHUSD	+0.0023%	1h	2,771.4	+0.092%	$29K	$22K	20x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,769.1	+0.011%	$12.8M	—	200x	as long as short
BingX ETH-USDC	+0.0031%	8h	2,770	+0.041%	—	$17.4M	—	as long as short
Aster ETHUSDT	+0.0031%	8h	2,770.6	+0.062%	$255.8M	$1.00B	200x	as long as short
Phemex ETHUSDTshort	+0.0036%	8h	2,768.6	−0.007%	$270.0M	$68.9M	150x
SoDEX ETH-USD	+0.0036%	1h	2,767.7	−0.041%	$55.1M	$229.1M	40x	as long as short
Bullet ETH-USD	+0.0045%	1h	2,769.2	+0.012%	$182K	$1.7M	20x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,765.5	−0.119%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0057%	8h	2,770.8	+0.073%	$1.61B	$2.66B	500x	as long as short
Binance ETHUSDT	+0.0058%	8h	2,770.1	+0.046%	$6.45B	$17.31B	150x	as long as short
Deribit ETH-PERPETUAL	+0.0064%	1h	2,769.3	+0.016%	$259.0M	$222.5M	50x	as long as short
Bitget ETHUSDT	+0.0066%	8h	2,771	+0.078%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0069%	8h	2,770.6	+0.064%	$3.29B	$9.67B	200x	as long as short
KuCoin ETHUSDTM	+0.0082%	8h	2,770.1	+0.045%	$420.9M	$739.6M	100x	as long as short
Bybit ETHUSDT	+0.0088%	8h	2,770.3	+0.054%	$2.50B	$4.63B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,769.7	+0.030%	$60.1M	$4.59B	50x	as long as short
Vest ETH-PERP	+0.0094%	1h	2,770.1	+0.047%	—	$1.1M	50x	as long as short
HTX ETH-USDT	+0.0095%	8h	2,768.4	−0.014%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,771	+0.078%	$115.1M	$499.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.8	+0.143%	$25.3M	$121.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,771.7	+0.103%	—	$43.4M	500x	as long as short
Paradex ETH-USD-PERPlong	+0.0099%	8h	2,768.8	long leg	$15.9M	$10.1M	50x
Katana Perps ETH-USD	+0.0100%	8h	2,769.4	+0.021%	$476K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,769.1	+0.009%	$14.3M	$118.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,773.3	+0.162%	$3.17B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,770.1	+0.045%	$31.2M	$312.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,769.5	+0.024%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,770.5	+0.059%	$2.7M	$17.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,772.9	+0.147%	$167.0M	$259.0M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,769.5	+0.026%	$15.1M	$44.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,769	+0.005%	$147.5M	$336.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,766.1	−0.098%	$181.6M	$784.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,767.9	−0.032%	$161.0M	$89.3M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,767.1	−0.062%	$21.4M	$58.6M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,769.8	+0.035%	$10.7M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,768.7	−0.005%	$21K	$24K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,768.6	−0.007%	$970K	$13.9M	100x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,770.2	+0.048%	$42.6M	$29.4M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,770.2	+0.051%	$32.5M	$78.2M	50x	as long as short
Kalshi KXETHPERP	+0.0113%	8h	2,770.2	+0.050%	$8.2M	$687.1M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,769.1	+0.010%	$88.7M	$336.9M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0141%	8h	2,770.4	+0.057%	$32.6M	$12.1M	100x	as long as short
BloFin ETH-USDT	+0.0178%	8h	2,768.5	−0.011%	$286.6M	$194.5M	150x	as long as short
Reya ETHRUSDPERP	+0.0203%	1h	2,769	+0.006%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0224%	1h	2,772.9	+0.146%	$251K	$1.6M	20x	as long as short