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= +0.2% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Paradex−0.103%7-day average −0.039% · 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−$23as in the Price arb table

costs, in and out, $10k−$170.170% of the position

Long on Paradex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.005%$0 on $10k

Price spread, last 7 days+0.082%+$8 · spread now −0.103%, 7d avg −0.039%

Together, before fees+0.087%+ Points / potential airdropParadex: Active · farm board+$9 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: Polymarket Perps is 0.064% cheaper against Paradex than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ETH-USD-PERP	2,738.6	0.0099	pay 0.0099% / 8h	4h 22m	$15.6M	$8.0M	50x
Short	Polymarket Perps ETH-USD	2,735.8	0.0100	get 0.0013% / 1h	22m 20s	$11.2M	$9.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.103%Rate

Funding earned: $0.31
Price spread: −0.103% → −0.039%: −$6.39
Slippage, 4 orders: −$5.04
Fee Paradex: 2 bp × 2 orders: −$4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$23.11
Costs to cover: 0.170%
Break-even: 522.7 days

Slippage from Paradex: live order book, 2 min ago; Polymarket Perps: 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	2.34 bp	4.3 bp −$4	4.3 bp −$43	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	0.18 bp	4.2 bp −$4	4.2 bp −$42	13.3 bp −$1,327	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
Perpl ETH	−0.0447%	43m	2,734.9	−0.136%	$297K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,735.3	−0.121%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,734.9	−0.136%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,734	−0.170%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,735.1	−0.128%	$10.8M	$41.6M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,735.2	−0.125%	$187K	$823K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,735	−0.132%	$830K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,734.1	−0.166%	$28.1M	—	200x	as long as short
Bullet ETH-USD	+0.0008%	1h	2,733.6	−0.183%	$179K	$1.7M	20x	as long as short
ApeX Omni ETHUSDT	+0.0043%	1h	2,735	−0.134%	$8.7M	$31.3M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX ETH-USDT	+0.0048%	8h	2,731.7	−0.253%	$1.06B	$1.20B	200x	as long as short
BingX ETH-USDT	+0.0052%	8h	2,733.5	−0.186%	—	$1.15B	—	as long as short
Bybit ETHUSDT	+0.0063%	8h	2,732	−0.241%	$2.39B	$4.35B	150x	as long as short
KuCoin ETHUSDTM	+0.0065%	8h	2,734	−0.169%	$380.3M	$574.6M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0071%	8h	2,732.4	−0.229%	$1.67B	$10.71B	100x	as long as short
Phemex ETHUSDT	+0.0071%	8h	2,733.6	−0.183%	$265.8M	$65.3M	150x	as long as short
SoDEX ETH-USD	+0.0085%	1h	2,733.7	−0.180%	$54.4M	$187.6M	40x	as long as short
Aster ETHUSDT	+0.0087%	8h	2,733.9	−0.172%	$250.9M	$842.7M	200x	as long as short
MEXC ETH_USDT	+0.0094%	8h	2,733.9	−0.171%	$1.55B	$2.56B	500x	as long as short
Binance ETHUSDT	+0.0095%	8h	2,732.8	−0.213%	$6.35B	$15.86B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,733.8	−0.177%	$112.9M	$440.1M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,734.3	−0.157%	$23.4M	$106.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,734.6	−0.147%	—	$30.9M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,731.3	−0.269%	$4.9M	$155K	20x	as long as short
Paradex ETH-USD-PERPlong	+0.0099%	8h	2,738.6	long leg	$15.6M	$8.0M	50x
RISEx ETH/USDC	+0.0099%	1h	2,735.1	−0.129%	$5.5M	$11.6M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,734.7	−0.143%	$500K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,733.8	−0.176%	$13.8M	$104.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,736.5	−0.077%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,734.8	−0.139%	$31.9M	$334.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,734.1	−0.165%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,735.2	−0.125%	$1.6M	$16.2M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,733.8	−0.176%	$3.34B	$8.90B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,734	−0.168%	$2.07B	$2.74B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,734.4	−0.156%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,732.8	−0.214%	$133.6M	$325.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,733.7	−0.181%	$183.9M	$671.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,733.7	−0.180%	$159.0M	$86.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,734.3	−0.158%	$21.1M	$68.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,735.1	−0.129%	—	$843K	50x	as long as short
Polymarket Perps ETH-USDshort	+0.0100%	1h	2,735.8	−0.103%	$11.2M	$9.1M	50x
Bluefin ETH-PERP	+0.0100%	1h	2,734.6	−0.148%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,735.6	−0.111%	$41.3M	$29.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,733.7	−0.178%	$958K	$11.3M	100x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,734.8	−0.138%	$164.8M	$300.4M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,733.4	−0.192%	$30.3M	$72.5M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0108%	1h	2,735	−0.133%	$260.1M	$195.7M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,734.9	−0.138%	$51.4M	$4.27B	50x	as long as short
Aftermath Perps ETHUSD	+0.0116%	1h	2,735	−0.132%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0139%	8h	2,734.4	−0.154%	$6.7M	$678.2M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0194%	8h	2,736.2	−0.089%	$32.2M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0219%	1h	2,733.1	−0.203%	$7.3M	$1.2M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,734.3	−0.158%	$83.3M	$314.7M	100x	as long as short
Hibachi ETH/USDT-P	+0.0256%	1h	2,736	−0.094%	$253K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0379%	8h	2,735.3	−0.123%	$282.7M	$175.2M	150x	as long as short