Funding arb · Price arb /

ETHFI

all ETHFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0017%/8h= +1.8% APRpaid last 24h −0.010%

Price spread now: Paradex against Injective−2.520%7-day average — · you buy dearer than you sell

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

Long on Injective 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

Funding pays, the price is against you. Paradex is 2.520% cheaper against Injective than usual: you would sell low and buy high (spread −2.520% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$252 on $10k: about 17 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ETHFI/USDC PERP	0.7240	0.0033	pay 0.0004% / 1h	20m 07s	$321	$51K	5.5x
Short	Paradex ETHFI-USD-PERP	0.7058	0.0050	get 0.0050% / 8h	4h 20m	$6K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Injective. 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 InjectivebpFee ParadexbpOrdersPrice spread, now −2.520%Rate

Funding earned: $3.54
Price spread: −2.520% → 0.000%: −$252
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$252.48
Costs to cover: 0.040%
Break-even: 506.6 days

Slippage unknown: Injective: 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 Injective no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Injective 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	−0.0458%	1h	0.7061	−2.472%	$40K	$12K	10x	as long as short
HTX ETHFI-USDT	−0.0315%	4h	0.7049	−2.638%	$87K	$168K	20x	as long as short
Orderly PERP_ETHFI_USDC	−0.0226%	4h	0.7056	−2.541%	$16K	$1K	10x	as long as short
Injective ETHFI/USDC PERPlong	+0.0033%	1h	0.7240	long leg	$321	$51K	5.5x
Kraken Futures PF_ETHFIUSD	+0.0044%	1h	0.7058	−2.508%	$264K	$209K	20x	as long as short
Paradex ETHFI-USD-PERPshort	+0.0050%	8h	0.7058	−2.520%	$6K	—	5x
Lighter ETHFI	+0.0096%	1h	0.7067	−2.391%	$1.1M	$879K	5x	as long as short
Hyperliquid ETHFI	+0.0100%	1h	0.7067	−2.384%	$17.5M	$7.9M	5x	as long as short
Aster ETHFIUSDT	+0.0100%	4h	0.7064	−2.431%	$180K	$263K	10x	as long as short
Binance ETHFIUSDT	+0.0100%	4h	0.7058	−2.514%	$24.5M	$35.2M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHFIUSDT	+0.0100%	4h	0.7062	−2.459%	$17.6M	$12.6M	25x	as long as short
OKX ETHFI-USDT-SWAP	+0.0100%	4h	0.7067	−2.390%	$5.1M	$12.4M	20x	as long as short
Gate ETHFI_USDT	+0.0100%	4h	0.7064	−2.431%	$1.7M	$2.0M	75x	as long as short
MEXC ETHFI_USDT	+0.0100%	4h	0.7057	−2.528%	$15.7M	$4.0M	125x	as long as short
KuCoin ETHFIUSDTM	+0.0100%	4h	0.7062	−2.459%	$1.2M	$228K	50x	as long as short
Bitget ETHFIUSDT	+0.0100%	4h	0.7061	−2.472%	$6.1M	$5.2M	75x	as long as short
BingX ETHFI-USDC	+0.0100%	4h	0.7062	−2.459%	—	$1.2M	—	as long as short
Variational Omni ETHFI	+0.0100%	4h	0.7055	−2.553%	$979K	$701K	—	as long as short
Polymarket Perps ETHFI-USD	+0.0100%	1h	0.7071	−2.330%	$70K	$118K	5x	as long as short
SunX ETHFI-USDT	+0.0100%	4h	0.7061	−2.472%	$1K	$1.1M	20x	as long as short
Extended ETHFI-USD	+0.0104%	1h	0.7054	−2.568%	$97K	$379K	10x	as long as short
Aevo ETHFI-PERP	+0.0104%	1h	0.7056	−2.548%	$8K	—	3x	as long as short
BloFin ETHFI-USDT	+0.0340%	4h	0.7052	−2.597%	$1.2M	$247K	75x	as long as short
Coinbase International ETHFI-PERP-INTX	+0.0624%	1h	0.7096	−1.989%	$31K	$6K	50x	as long as short