Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%
Price spread now: Paradex against Derive−0.010%7-day average +0.030% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.039%+$4 on $10k
+Price spread, last 3 days (all we have)+0.101%+$10 · spread now −0.010%, 7d avg +0.030%
=Together, before fees+0.139%+ Points / potential airdropParadex: Active · farm board+$14 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 0.039% cheaper against Derive than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.030%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive BTC-PERP | 86,571.2 | 0.0100 | pay 0.0013% / 1h | 54m 22s | $30.6M | $62.6M | 15x |
| Short | Paradex BTC-USD-PERP | 86,562.9 | 0.0100 | get 0.0100% / 8h | 54m 22s | $4.8M | $8.5M | 50x |
Derive BTC-PERP
Paradex BTC-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paradex against Derive. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$0.02
- Price spread: −0.010% → +0.030%
- −$3.94
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Paradex: 2 bp × 2 orders
- −$4
- Net
- −$13.97
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; Paradex: live order book, 5 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 Derive no order-book sample | — | — | — | — | — |
| Sell Paradex live order book, 5 min ago | 1.00 bp | 3.0 bp −$3 | 3.0 bp −$30 | doesn't fit | doesn't fit |
Derive: 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.
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0159% | 1h | 86,468 | −0.119% | $2.2M | $11.8M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,528 | −0.050% | $9K | $3K | 50x | as long as short |
| Injective BTC/USDC PERP | −0.0035% | 1h | 86,601 | +0.034% | $333K | $26.8M | 52x | as long as short |
| RISEx BTC/USDC | −0.0024% | 1h | 86,548.4 | −0.026% | $8.3M | $42.9M | 25x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 86,551.1 | −0.023% | $358K | $2.5M | 50x | as long as short |
| Aster BTCUSDT | −0.0004% | 8h | 86,537.2 | −0.039% | $503.8M | $1.15B | 200x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,554.4 | −0.019% | $36.9M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0009% | 8h | 86,533.7 | −0.043% | $850.4M | $713.8M | 125x | as long as short |
| Deribit BTC-PERPETUAL | +0.0021% | 1h | 86,563.8 | −0.009% | $917.2M | $1.49B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0024% | 1h | 86,533 | −0.044% | $6.7M | $145.2M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
Injective BTC/USDC PERP
RISEx BTC/USDC
01 Exchange BTCUSD
Aster BTCUSDT
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Deribit BTC-PERPETUAL
Reya BTCRUSDPERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0040% | 8h | 86,542.2 | −0.033% | — | $1.59B | — | as long as short |
| dYdX BTC-USD | +0.0041% | 1h | 86,547.3 | −0.028% | $17.0M | $21.1M | 50x | as long as short |
| Phemex BTCUSDT | +0.0042% | 8h | 86,535.8 | −0.041% | $149.9M | $478.0M | 150x | as long as short |
| Bitget BTCUSDT | +0.0051% | 8h | 86,535.7 | −0.041% | $2.96B | $5.12B | 150x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,533.5 | −0.043% | $2.4M | $1.3M | 20x | as long as short |
| MEXC BTC_USDT | +0.0069% | 8h | 86,537.5 | −0.039% | $5.13B | $5.62B | 500x | as long as short |
| Binance BTCUSDT | +0.0070% | 8h | 86,539.3 | −0.037% | $9.43B | $24.52B | 150x | as long as short |
| Gate BTC_USDT | +0.0081% | 8h | 86,538.9 | −0.037% | $5.88B | $10.70B | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0089% | 1h | 86,483.1 | −0.102% | $79K | $220K | 20x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,538.2 | −0.038% | $170.5M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,538.2 | −0.038% | $24.0M | $151.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,541 | −0.035% | $8.5M | $52.5M | 100x | as long as short |
| Bybit BTCUSDT | +0.0099% | 8h | 86,544.2 | −0.031% | $5.26B | $9.80B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,526 | −0.052% | $199K | $7.0M | 50x | as long as short |
| Paradex BTC-USD-PERPshort | +0.0100% | 8h | 86,562.9 | −0.010% | $4.8M | $8.5M | 50x | |
| Nado BTC-PERP | +0.0100% | 1h | 86,546.4 | −0.029% | $21.9M | $234.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,613 | +0.048% | $3.80B | $5.10B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,554.3 | −0.019% | $41.2M | $521.5M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,546.3 | −0.029% | $2.54B | $12.73B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,530 | −0.048% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,571.9 | +0.001% | $7.6M | $94.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,382.9 | −0.217% | $571.1M | $18.1M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,528.6 | −0.049% | $37.9M | $154.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,463.3 | −0.125% | $155.7M | $568.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,420.7 | −0.174% | $279.3M | $944.4M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,455.1 | −0.134% | $217.0M | $173.5M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,442 | −0.149% | $141.3M | $323.3M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,523.5 | −0.055% | $30.7M | $204.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,583.1 | +0.014% | — | $11.7M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,536 | −0.041% | $11.1M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,542 | −0.034% | $190K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,542.1 | −0.034% | $2.4M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,572.5 | +0.002% | $140K | $663K | 40x | as long as short |
| Derive BTC-PERPlong | +0.0100% | 1h | 86,571.2 | long leg | $30.6M | $62.6M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 86,459.3 | −0.129% | $3.4M | $5.4M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,531 | −0.046% | $60.5M | $337.6M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,522.6 | −0.056% | $2.30B | $969.4M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,524.1 | −0.054% | $45.3M | $226.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,554.8 | −0.019% | — | $99.0M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0110% | 1h | 86,555.1 | −0.019% | $192.1M | $948.0M | 100x | as long as short |
| Perpl BTC | +0.0112% | 43m | 86,536.9 | −0.040% | $416K | $23.4M | 6.7x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 86,573.2 | +0.002% | $132.6M | $5.68B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0168% | 1h | 86,576.8 | +0.007% | $718K | $8.1M | 30x | as long as short |
| BloFin BTC-USDT | +0.0189% | 8h | 86,530.5 | −0.047% | $414.8M | $656.3M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0190% / S −0.0212% | 1h | 86,549.5 | −0.025% | $15.1M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0202% | 8h | 86,556 | −0.018% | $9.7M | $738.6M | 6.4x | as long as short |
BingX BTC-USDT
dYdX BTC-USD
Phemex BTCUSDT
Bitget BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Gate BTC_USDT
Aftermath Perps BTCUSD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Bybit BTCUSDT
Katana Perps BTC-USD
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Perpl BTC
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP