Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.007%

Price spread now: Paradex against Aevo+0.017%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$270.269% of the position

Long on Aevo Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.018%+$2 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now +0.017%, 7d avg +0.045%

Together, before fees+0.051%+ Points / potential airdropParadex: Active · farm board+$5 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 0.029% cheaper against Aevo than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo BTC-PERP	85,420.1	0.0096	pay 0.0012% / 1h	42m 19s	$2.4M	$6.7M	20x
Short	Paradex BTC-USD-PERP	85,434.5	0.0100	get 0.0100% / 8h	42m 19s	$5.8M	$9.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Aevo. 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 AevobpFee ParadexbpOrdersPrice spread, now +0.017%Rate

Funding earned: $0.84
Price spread: +0.017% → +0.045%: −$2.85
Slippage, 4 orders: −$6.89
Fee Aevo: 8 bp × 2 orders: −$16
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$28.9
Costs to cover: 0.269%
Break-even: 248.8 days

Slippage from Aevo: live order book, 2 min ago; Paradex: 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 Aevo live order book, 2 min ago	0.90 bp	10.9 bp −$11	12.8 bp −$128	doesn't fit	doesn't fit
Sell Paradex live order book, 2 min ago	1.01 bp	3.0 bp −$3	3.0 bp −$30	175.0 bp −$17.5K	doesn't fit

BTC on 56 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
Hotstuff BTC-PERP	−0.0080%	1h	85,414	−0.007%	$8K	$3K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,472	+0.061%	$2.3M	$10.8M	40x	as long as short
KuCoin XBTUSDTM	−0.0025%	8h	85,429.5	+0.011%	$932.0M	$775.2M	125x	as long as short
BloFin BTC-USDT	−0.0022%	8h	85,380.7	−0.046%	$420.7M	$682.4M	150x	as long as short
Aster BTCUSDT	−0.0005%	8h	85,413.5	−0.008%	$512.3M	$1.08B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,409.3	−0.013%	$348K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,445.8	+0.030%	$467K	$18.3M	6.7x	as long as short
dYdX BTC-USD	+0.0004%	1h	85,390.6	−0.034%	$16.7M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,432.2	+0.014%	$36.5M	—	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,432.3	+0.014%	$185.8M	$952.5M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni BTCUSDT	+0.0066%	1h	85,421.4	+0.002%	$139.6M	$312.8M	100x	as long as short
Injective BTC/USDC PERP	+0.0067%	1h	85,367	−0.062%	$338K	$24.6M	52x	as long as short
BingX BTC-USDC	+0.0068%	8h	85,401.1	−0.022%	—	$17.4M	—	as long as short
Nado BTC-PERP	+0.0081%	1h	85,371.1	−0.057%	$24.1M	$220.1M	50x	as long as short
Bybit BTCUSDT	+0.0084%	8h	85,413.6	−0.008%	$5.14B	$9.98B	150x	as long as short
Bitget BTCUSDT	+0.0092%	8h	85,423.6	+0.004%	$2.97B	$5.18B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,403.2	−0.020%	$169.0M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,402.8	−0.020%	$23.6M	$148.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,402	−0.021%	$8.4M	$57.4M	100x	as long as short
Aevo BTC-PERPlong	+0.0096%	1h	85,420.1	long leg	$2.4M	$6.7M	20x
MEXC BTC_USDT	+0.0097%	8h	85,429	+0.010%	$5.05B	$5.73B	500x	as long as short
Binance BTCUSDT	+0.0098%	8h	85,419.9	0.000%	$9.42B	$25.02B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,375	−0.053%	$272K	$8.7M	50x	as long as short
Paradex BTC-USD-PERPshort	+0.0100%	8h	85,434.5	+0.017%	$5.8M	$9.5M	50x
Hyperliquid BTC	+0.0100%	1h	85,513	+0.109%	$3.76B	$5.07B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,424.6	+0.005%	$40.1M	$605.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,419	−0.001%	$2.60B	$12.22B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,399	−0.025%	$3.9M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,409.9	−0.012%	$4.7M	$96.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,349	−0.083%	$691.7M	$275.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,426.8	+0.008%	$5.53B	$11.03B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,379.7	−0.047%	$37.3M	$185.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,426.4	+0.007%	$156.0M	$554.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,436.8	+0.020%	$283.3M	$959.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,426.5	+0.008%	$214.4M	$159.5M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,395.3	−0.029%	$30.1M	$209.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,478.6	+0.069%	—	$10.1M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,431	+0.013%	$11.0M	$14.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,426	+0.007%	$198K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,421.7	+0.002%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,462.6	+0.050%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,375.9	−0.052%	$30.0M	$45.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,386.9	−0.039%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,420	0.000%	$59.8M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,395.7	−0.029%	$2.26B	$966.6M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,408.6	−0.013%	$158.9M	$514.1M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,396.3	−0.028%	$45.5M	$241.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,410.4	−0.011%	—	$106.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,455	+0.041%	$112.2M	$5.48B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0134%	1h	85,463.6	+0.051%	$840.7M	$1.66B	50x	as long as short
Reya BTCRUSDPERP	+0.0138%	1h	85,415.8	−0.005%	$6.6M	$146.3M	40x	as long as short
Kalshi KXBTCPERP	+0.0173%	8h	85,416	−0.005%	$12.1M	$736.5M	6.4x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,450	+0.035%	$8.8M	$42.8M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0147%	1h	85,432.1	+0.014%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,445.2	+0.029%	$684K	$7.7M	30x	as long as short
Aftermath Perps BTCUSD	+0.0293%	1h	85,458.6	+0.045%	$79K	$252K	20x	as long as short