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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%
Price spread now: Paradex against Bulk+0.072%7-day average +0.010% · 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−$7as in the Price arb table
costs, in and out, $10k−$130.132% of the position
Long on BulkShort on Paradex
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.004%$0 on $10k
Price spread, last 7 days+0.013%+$1 · spread now +0.072%, 7d avg +0.010%
Together, before fees+0.017%+ Points / potential airdropParadex: Active · farm board+$2 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 0.061% dearer against Bulk than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.010%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk BTC-USD86,606.90.0100pay 0.0013% / 1h32m 39s$571.9M$22.8M40x
ShortParadex BTC-USD-PERP86,668.90.0100get 0.0100% / 8h2h 32m$4.8M$8.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Paradex against Bulk. 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

Funding earned
−$0.04
Price spread: +0.072% → +0.010%
$6.14
Slippage, 4 orders
−$2.24
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee Paradex: 2 bp × 2 orders
−$4
Net
−$7.14
Costs to cover
0.132%
Break-even
never at this rate
Slippage from Bulk: 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
LegHalf-spread$10k$100k$1M$5M
Buy Bulk live order book, 2 min ago0.01 bp3.5 bp −$43.5 bp −$353.5 bp −$3514.4 bp −$2,185
Sell Paradex live order book, 2 min ago1.10 bp3.1 bp −$33.1 bp −$31doesn't fitdoesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps BTCUSD−0.0230%1h86,618.2+0.013%$85K$188K20xas long as short
Perpl BTC−0.0223%43m86,644.6+0.044%$428K$24.9M6.7xas long as short
Phoenix BTC−0.0103%1h86,539−0.078%$2.2M$12.4M40xas long as short
dYdX BTC-USD−0.0082%1h86,671.7+0.075%$17.6M$20.5M50xas long as short
Hotstuff BTC-PERP−0.0080%1h86,605−0.002%$9K$3K50xas long as short
01 Exchange BTCUSD0.0000%1h86,631.7+0.029%$363K$2.4M50xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,654.7+0.055%$935.6M$1.44B50xas long as short
KuCoin XBTUSDTM+0.0002%8h86,610.9+0.005%$844.1M$704.8M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h86,645.9+0.045%$37.0M—200xas long as short
Aster BTCUSDT+0.0009%8h86,602.5−0.005%$505.6M$1.16B200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0021%1h86,617.5+0.012%$6.7M$144.3M40xas long as short
BingX BTC-USDT+0.0022%8h86,604.2−0.003%—$1.59B—as long as short
Phemex BTCUSDT+0.0023%8h86,619.1+0.014%$149.6M$471.3M150xas long as short
Bitget BTCUSDT+0.0030%8h86,608+0.001%$2.95B$5.07B150xas long as short
Aevo BTC-PERP+0.0048%1h86,627.1+0.023%$2.4M$1.3M20xas long as short
Injective BTC/USDC PERP+0.0049%1h86,639+0.037%$315K$26.8M52xas long as short
MEXC BTC_USDT+0.0052%8h86,611.9+0.006%$5.19B$5.67B500xas long as short
Binance BTCUSDT+0.0053%8h86,602.1−0.006%$9.43B$24.31B150xas long as short
RISEx BTC/USDC+0.0063%1h86,614.2+0.008%$9.2M$42.0M25xas long as short
OKX BTC-USDT-SWAP+0.0072%8h86,615.2+0.010%$2.56B$12.70B100xas long as short
Gate BTC_USDT+0.0074%8h86,609.9+0.003%$5.86B$10.63B200xas long as short
Bybit BTCUSDT+0.0082%8h86,601.4−0.006%$5.27B$9.67B150xas long as short
Variational Omni BTC+0.0092%8h86,584.3−0.026%$160.0M$567.1M—as long as short
Lighter BTC+0.0096%1h86,629.3+0.026%$172.1M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,635.3+0.033%$24.0M$153.5M50xas long as short
Popdex BTCUSDT+0.0096%1h86,605−0.002%$8.5M$52.2M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,597−0.011%$194K$6.8M50xas long as short
Paradex BTC-USD-PERPshort+0.0100%8h86,668.9+0.072%$4.8M$8.2M50x
Nado BTC-PERP+0.0100%1h86,626+0.022%$21.6M$235.4M50xas long as short
Hyperliquid BTC+0.0100%1h86,687+0.092%$3.82B$5.12B40xas long as short
Pacifica BTC+0.0100%1h86,646.1+0.045%$41.3M$490.3M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,614+0.008%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,676.4+0.080%$7.5M$93.6M40xas long as short
Bulk BTC-USDlong+0.0100%1h86,606.9long leg$571.9M$22.8M40x
Backpack BTC_USDC_PERP+0.0100%1h86,616.6+0.011%$38.1M$148.4M75xas long as short
edgeX BTCUSDC+0.0100%4h86,587.1−0.023%$279.7M$950.3M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,619.4+0.014%$217.4M$187.8M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,686.6+0.092%$141.7M$322.9M100xas long as short
StandX BTC-USD+0.0100%1h86,593.6−0.015%$30.8M$205.3M40xas long as short
Vest BTC-PERP+0.0100%1h86,683.5+0.088%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,632+0.029%$11.1M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,624.6+0.020%$195K$3.4M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,642.7+0.041%$2.5M$8.5M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,647+0.046%$141K$619K40xas long as short
Derive BTC-PERP+0.0100%1h86,632.2+0.029%$30.0M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,628.9+0.025%$3.4M$5.5M100xas long as short
SoDEX BTC-USD+0.0100%1h86,620+0.015%$60.5M$336.5M40xas long as short
HTX BTC-USDT+0.0100%8h86,626.5+0.023%$2.30B$957.3M200xas long as short
Extended BTC-USD+0.0104%1h86,592.1−0.017%$46.4M$227.9M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,645.3+0.044%—$98.4M500xas long as short
Kraken Futures PF_XBTUSD+0.0116%1h86,657.7+0.059%$188.8M$930.8M100xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,665+0.067%$132.0M$5.86B50xas long as short
Kalshi KXBTCPERP+0.0123%8h86,654+0.054%$8.8M$723.5M6.4xas long as short
BloFin BTC-USDT+0.0173%8h86,611.4+0.005%$416.8M$652.9M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0178% / S −0.0185%1h86,638.2+0.036%$14.9M—200xas long as short
Hibachi BTC/USDT-P+0.0224%1h86,648.5+0.048%$614K$7.1M30xas long as short