Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0390%/8h= −42.7% APRpaid last 24h −0.105%

Price spread now: Paradex against Coinbase International−0.128%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Paradex is 0.128% cheaper against Coinbase International than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ETHFI-PERP-INTX	0.6900	0.0376	pay 0.0047% / 1h	27m 41s	$31K	$6K	50x
Short	Paradex ETHFI-USD-PERP	0.6891	−0.0014	pay 0.0014% / 8h	2h 27m	$6K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Coinbase International. 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 Coinbase InternationalbpFee ParadexbpOrdersPrice spread, now −0.128%Rate

Funding earned: −$81.84
Price spread: −0.128% → 0.000%: −$12.83
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$108.67
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Paradex: no order-book sample. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Coinbase International and Paradex: 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.

ETHFI on 24 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
Deribit ETHFI_USDC-PERPETUAL	−0.0475%	1h	0.6893	−0.101%	$39K	$10K	10x	as long as short
Kraken Futures PF_ETHFIUSD	−0.0414%	1h	0.6906	+0.083%	$280K	$281K	20x	as long as short
HTX ETHFI-USDT	−0.0386%	4h	0.6875	−0.362%	$80K	$183K	20x	as long as short
Bybit ETHFIUSDT	−0.0321%	4h	0.6891	−0.130%	$17.1M	$12.9M	25x	as long as short
Orderly PERP_ETHFI_USDC	−0.0264%	4h	0.6889	−0.159%	$16K	$1K	10x	as long as short
Variational Omni ETHFI	−0.0146%	4h	0.6900	+0.006%	$901K	$762K	—	as long as short
Binance ETHFIUSDT	−0.0032%	4h	0.6892	−0.116%	$23.9M	$35.7M	75x	as long as short
Extended ETHFI-USD	−0.0032%	1h	0.6890	−0.142%	$94K	$502K	10x	as long as short
MEXC ETHFI_USDT	−0.0032%	4h	0.6892	−0.116%	$15.6M	$4.1M	125x	as long as short
Paradex ETHFI-USD-PERPshort	−0.0014%	8h	0.6891	−0.128%	$6K	—	5x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ETHFIUSDT	+0.0025%	4h	0.6906	+0.086%	$177K	$260K	10x	as long as short
Injective ETHFI/USDC PERP	+0.0033%	1h	0.7240	+4.928%	$321	$51K	5.5x	as long as short
Aevo ETHFI-PERP	+0.0072%	1h	0.6890	−0.145%	$8K	—	3x	as long as short
Lighter ETHFI	+0.0096%	1h	0.6900	−0.001%	$1.1M	$831K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.6895	−0.067%	$16.7M	$8.4M	5x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.6899	−0.014%	$5.0M	$12.3M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.6896	−0.058%	$1.7M	$2.0M	75x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.6898	−0.029%	$1.2M	$230K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.6890	−0.145%	$6.0M	$5.3M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.6894	−0.087%	—	$1.2M	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.6893	−0.100%	$62K	$127K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.6899	−0.014%	$2K	$1.1M	20x	as long as short
BloFin ETHFI-USDT	+0.0209%	4h	0.6900	0.000%	$1.2M	$236K	75x	as long as short
Coinbase International ETHFI-PERP-INTXlong	+0.0376%	1h	0.6900	long leg	$31K	$6K	50x