ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0063%/8h= +6.9% APRnext payment +$0.63 per $10,000 · paid last 24h +0.012%

Price spread now: Paradex against Phemex−0.148%7-day average +0.102% · 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−$197as in the Price arb table

costs, in and out, $10k−$1721.719% of the position

Long on Phemex Short on Paradex

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)+0.355%+$36 · spread now −0.148%, 7d avg +0.102%

Together, before fees+0.385%+ Points / potential airdropParadex: Active · farm board+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Paradex is 0.250% cheaper against Phemex than usual: you would sell low and buy high (spread −0.148% now, against its 7-day average of +0.102%). If the spread goes back, that is −$25 on $10k: about 13 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.030% in total) that is about 30 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ETHUSDT	2,771.3	0.0037	pay 0.0037% / 8h	1h 59m	$267.0M	$66.0M	150x
Short	Paradex ETH-USD-PERP	2,767.2	0.0100	get 0.0100% / 8h	1h 59m	$15.9M	$10.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Phemex. 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 PhemexbpFee ParadexbpOrdersPrice spread, now −0.148%Rate

Funding earned: $13.19
Price spread: −0.148% → +0.102%: −$25.03
Slippage, 4 orders: −$155.9
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$183.75
Costs to cover: 1.719%
Break-even: 104.6 days

Slippage from Phemex: live order book, 5 min ago; Paradex: 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 Phemex live order book, 5 min ago	0.02 bp	6.7 bp −$7	7.8 bp −$78	9.8 bp −$976	13.7 bp −$6,860
Sell Paradex live order book, 5 min ago	72.47 bp	74.5 bp −$74	74.5 bp −$745	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
Nado ETH-PERP	−0.0243%	1h	2,770.3	−0.036%	$14.3M	$118.9M	50x	as long as short
Perpl ETH	−0.0112%	43m	2,769.5	−0.065%	$290K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,769	−0.083%	$5.8M	$12.1M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,768	−0.119%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0064%	1h	2,770	−0.047%	$169K	$1.2M	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,769.5	−0.065%	$119K	$22.5M	52x	as long as short
Phoenix ETH	−0.0023%	1h	2,770.5	−0.029%	$884K	$3.6M	25x	as long as short
Aftermath Perps ETHUSD	−0.0002%	1h	2,771	−0.011%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,768.5	−0.102%	$12.7M	$45.5M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,771.2	−0.004%	$22.4M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0017%	8h	2,770.9	−0.015%	—	$1.19B	—	as long as short
OKX ETH-USDT-SWAP	+0.0023%	8h	2,768.6	−0.096%	$1.71B	$11.86B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,771	−0.011%	$13.2M	—	200x	as long as short
Aster ETHUSDT	+0.0032%	8h	2,770.5	−0.028%	$256.2M	$995.5M	200x	as long as short
ApeX Omni ETHUSDT	+0.0034%	1h	2,770.6	−0.025%	$8.7M	$32.6M	100x	as long as short
Phemex ETHUSDTlong	+0.0037%	8h	2,771.3	long leg	$267.0M	$66.0M	150x
Aevo ETH-PERP	+0.0048%	1h	2,768.1	−0.115%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0052%	8h	2,771	−0.010%	$1.59B	$2.62B	500x	as long as short
Binance ETHUSDT	+0.0053%	8h	2,769.5	−0.066%	$6.43B	$17.23B	150x	as long as short
Bullet ETH-USD	+0.0059%	1h	2,770.2	−0.039%	$183K	$1.8M	20x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,770.9	−0.014%	$2.10B	$3.12B	150x	as long as short
Gate ETH_USDT	+0.0077%	8h	2,770.8	−0.018%	$3.28B	$9.52B	200x	as long as short
HTX ETH-USDT	+0.0095%	8h	2,770.2	−0.040%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,770.9	−0.015%	$114.7M	$493.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.4	+0.039%	$25.4M	$120.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,769.5	−0.064%	—	$41.8M	500x	as long as short
Variational Omni ETH	+0.0099%	8h	2,770.9	−0.015%	$140.8M	$321.1M	—	as long as short
Paradex ETH-USD-PERPshort	+0.0100%	8h	2,767.2	−0.148%	$15.9M	$10.8M	50x
Katana Perps ETH-USD	+0.0100%	8h	2,769.3	−0.072%	$481K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772.9	+0.058%	$3.19B	$2.40B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,767.9	−0.121%	$31.2M	$293.6M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,769	−0.084%	$2.51B	$4.63B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,768.1	−0.115%	$2.8M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,770.4	−0.032%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,771	−0.012%	$164.2M	$249.6M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,770.8	−0.019%	$422.3M	$742.1M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,771.4	+0.004%	$15.2M	$43.0M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,770.6	−0.026%	$179.5M	$783.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.5	+0.007%	$161.2M	$96.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,772.1	+0.029%	$21.4M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,770.1	−0.042%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,771.8	+0.018%	$10.8M	$7.7M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,771	−0.012%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,772.5	+0.042%	$42.6M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,767.9	−0.123%	$971K	$14.1M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,770.3	−0.036%	$55.2M	$228.6M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,769.7	−0.059%	$31.5M	$75.5M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0104%	1h	2,771.8	+0.018%	$258.4M	$225.3M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,771.6	+0.011%	$59.9M	$4.62B	50x	as long as short
Kalshi KXETHPERP	+0.0108%	8h	2,771.5	+0.008%	$8.5M	$673.6M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0137%	8h	2,773.1	+0.065%	$32.5M	$12.1M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,770.5	−0.027%	$86.0M	$331.8M	100x	as long as short
BloFin ETH-USDT	+0.0173%	8h	2,771	−0.012%	$285.9M	$195.0M	150x	as long as short
Reya ETHRUSDPERP	+0.0186%	1h	2,770.5	−0.029%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0472%	1h	2,771.3	+0.002%	$280K	$1.5M	20x	as long as short