Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Paradex against Vest+0.044%7-day average +0.066% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Vest Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 4 days (all we have)−0.172%−$17 · spread now +0.044%, 7d avg +0.066%

Together, before fees−0.159%+ Points / potential airdropVest: Active · Paradex: Active · farm board−$16 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: Paradex is 0.022% cheaper against Vest than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest ETH-PERP	2,732.3	0.0100	pay 0.0013% / 1h	20m 29s	—	$845K	50x
Short	Paradex ETH-USD-PERP	2,733.5	0.0100	get 0.0100% / 8h	3h 20m	$15.6M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpFee ParadexbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$0.03
Price spread: +0.044% → +0.066%: −$2.19
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$8.22
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Paradex: live order book, 4 min ago. Net counts fees only.

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 Vest no order-book sample	—	—	—	—	—
Sell Paradex live order book, 4 min ago	2.18 bp	4.2 bp −$4	4.2 bp −$42	doesn't fit	doesn't fit

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0335%	43m	2,731.6	−0.029%	$297K	$5.6M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,731	−0.049%	$5K	$1K	50x	as long as short
HTX ETH-USDT	−0.0016%	8h	2,730.6	−0.062%	$1.06B	$1.20B	200x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,732.2	−0.003%	$11.9M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,731.7	−0.023%	$817K	$2.9M	25x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,731.2	−0.041%	$6.4M	$684.8M	4.9x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,732.3	−0.001%	$28.1M	—	200x	as long as short
dYdX ETH-USD	+0.0008%	1h	2,731.1	−0.046%	$10.7M	$42.1M	50x	as long as short
Bullet ETH-USD	+0.0024%	1h	2,731.7	−0.023%	$178K	$1.7M	20x	as long as short
BingX ETH-USDT	+0.0030%	8h	2,731.8	−0.021%	—	$1.14B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0036%	8h	2,731.6	−0.027%	$2.36B	$4.38B	150x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	2,732.4	+0.003%	$187K	$814K	50x	as long as short
Deribit ETH-PERPETUAL	+0.0054%	1h	2,732	−0.012%	$258.6M	$201.7M	50x	as long as short
SunX ETH-USDT	+0.0065%	8h	2,730.4	−0.070%	$957K	$11.2M	100x	as long as short
ApeX Omni ETHUSDT	+0.0066%	1h	2,728.1	−0.157%	$8.6M	$31.1M	100x	as long as short
KuCoin ETHUSDTM	+0.0066%	8h	2,731.9	−0.017%	$377.6M	$574.8M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0076%	8h	2,732	−0.012%	$1.67B	$10.76B	100x	as long as short
Aster ETHUSDT	+0.0080%	8h	2,731.8	−0.019%	$250.9M	$840.3M	200x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,729.3	−0.112%	$4.9M	$155K	20x	as long as short
SoDEX ETH-USD	+0.0081%	1h	2,730.8	−0.056%	$54.4M	$187.7M	40x	as long as short
Phemex ETHUSDT	+0.0082%	8h	2,730.2	−0.078%	$264.6M	$64.9M	150x	as long as short
MEXC ETH_USDT	+0.0086%	8h	2,731.8	−0.018%	$1.55B	$2.57B	500x	as long as short
Binance ETHUSDT	+0.0087%	8h	2,731.8	−0.018%	$6.33B	$15.94B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,731	−0.048%	$112.4M	$434.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,731.8	−0.019%	$23.4M	$104.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,730.8	−0.058%	—	$31.0M	500x	as long as short
Injective ETH/USDC PERP	+0.0096%	1h	2,733.1	+0.028%	$117K	$22.5M	52x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,731.5	−0.030%	$499K	$3.4M	50x	as long as short
Paradex ETH-USD-PERPshort	+0.0100%	8h	2,733.5	+0.044%	$15.6M	$8.0M	50x
Nado ETH-PERP	+0.0100%	1h	2,730.2	−0.078%	$13.9M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,734.1	+0.065%	$3.09B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,732.5	+0.005%	$31.8M	$333.7M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,732	−0.012%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,732.6	+0.010%	$1.5M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,728.2	−0.150%	$169.5M	$307.4M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,732	−0.014%	$3.33B	$8.92B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,732.1	−0.008%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,730.4	−0.069%	$14.9M	$40.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,730.3	−0.073%	$134.3M	$322.7M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,728.1	−0.156%	$183.5M	$671.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,729.6	−0.099%	$158.8M	$86.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,730.7	−0.060%	$21.0M	$69.8M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,733.5	+0.043%	$11.2M	$9.4M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,731.9	−0.018%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,733.1	+0.027%	$41.0M	$29.9M	15x	as long as short
Vest ETH-PERPlong	+0.0100%	1h	2,732.3	long leg	—	$845K	50x
Extended ETH-USD	+0.0104%	1h	2,731.3	−0.039%	$30.5M	$73.4M	50x	as long as short
RISEx ETH/USDC	+0.0107%	1h	2,732.6	+0.011%	$5.6M	$11.8M	25x	as long as short
Aftermath Perps ETHUSD	+0.0109%	1h	2,731.8	−0.021%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,731.7	−0.024%	$50.6M	$4.28B	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0153%	1h	2,731.5	−0.030%	$83.6M	$315.9M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0193%	8h	2,733.6	+0.046%	$32.1M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0209%	1h	2,731.4	−0.033%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0240%	1h	2,732.8	+0.016%	$245K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0346%	8h	2,730.1	−0.081%	$282.9M	$174.8M	150x	as long as short