Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.031%

Price spread now: Paradex against edgeX+0.191%52s7-day average +0.050% · 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—prices read too far apart to compare

costs, in and out, $10k−$150.147% of the position

Long on edgeX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.162%+$16 on $10k

Price spread, last 7 days−0.097%−$10 · spread now +0.191%, 7d avg +0.050%

Together, before fees+0.065%+ Points / potential airdropedgeX: Active · Paradex: Active · farm board+$6 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 0.141% dearer against edgeX than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.050%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BTCUSDC	86,587	0.0100	pay 0.0050% / 4h	2h 26m	$279.7M	$950.9M	100x
Short	Paradex BTC-USD-PERP	86,752.1	0.0100	get 0.0100% / 8h	2h 26m	$4.8M	$8.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against edgeX. 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 edgeXbpFee ParadexbpOrdersPrice spread, now +0.191%Rate

Funding earned: −$0.04
Price spread: +0.191% → +0.050%: $14.1
Slippage, 4 orders: −$1.74
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$0.68
Costs to cover: 0.147%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; Paradex: live order book, 3 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 edgeX live order book, 3 min ago	0.02 bp	4.5 bp −$5	4.5 bp −$45	4.8 bp −$479	5.9 bp −$2,974
Sell Paradex live order book, 3 min ago	0.85 bp	2.9 bp −$3	2.9 bp −$29	doesn't fit	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
Aftermath Perps BTCUSD	−0.0235%	1h	86,655	+0.078%	$85K	$188K	20x	as long as short
Perpl BTC	−0.0223%	43m	86,737.5	+0.174%	$431K	$24.8M	6.7x	as long as short
Phoenix BTC	−0.0103%	1h	86,583	−0.005%	$2.2M	$12.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,653	+0.076%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0075%	1h	86,733.4	+0.169%	$17.6M	$20.5M	50x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,756.3	+0.195%	$364K	$2.4M	50x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,785.2	+0.229%	$935.2M	$1.45B	50x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,749.9	+0.188%	$845.2M	$704.6M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,782.1	+0.225%	$36.9M	—	200x	as long as short
Aster BTCUSDT	+0.0008%	8h	86,741.3	+0.178%	$506.6M	$1.16B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0021%	1h	86,736.1	+0.172%	$6.7M	$144.4M	40x	as long as short
Phemex BTCUSDT	+0.0023%	8h	86,747.9	+0.186%	$150.3M	$471.8M	150x	as long as short
BingX BTC-USDT	+0.0025%	8h	86,755.2	+0.194%	—	$1.60B	—	as long as short
Bitget BTCUSDT	+0.0032%	8h	86,750.4	+0.189%	$2.96B	$5.08B	150x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,639	+0.060%	$315K	$26.8M	52x	as long as short
MEXC BTC_USDT	+0.0055%	8h	86,751.3	+0.190%	$5.19B	$5.68B	500x	as long as short
Binance BTCUSDT	+0.0055%	8h	86,757.3	+0.197%	$9.45B	$24.33B	150x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,754	+0.193%	$2.4M	$1.3M	20x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,726	+0.160%	$9.2M	$42.0M	25x	as long as short
OKX BTC-USDT-SWAP	+0.0078%	8h	86,763.5	+0.204%	$2.56B	$12.74B	100x	as long as short
Gate BTC_USDT	+0.0079%	8h	86,755.3	+0.194%	$5.86B	$10.64B	200x	as long as short
Bybit BTCUSDT	+0.0083%	8h	86,760.6	+0.200%	$5.27B	$9.69B	150x	as long as short
Variational Omni BTC	+0.0095%	8h	86,614.5	+0.032%	$160.3M	$564.8M	—	as long as short
Lighter BTC	+0.0096%	1h	86,765.1	+0.206%	$171.9M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,767.2	+0.208%	$24.0M	$153.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,731	+0.166%	$8.5M	$52.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,723	+0.157%	$195K	$6.8M	50x	as long as short
Paradex BTC-USD-PERPshort	+0.0100%	8h	86,752.1	+0.191%	$4.8M	$8.2M	50x
Nado BTC-PERP	+0.0100%	1h	86,698.7	+0.129%	$21.8M	$235.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,828	+0.278%	$3.82B	$5.13B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,757.7	+0.197%	$41.0M	$492.6M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,718	+0.151%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,787.2	+0.231%	$7.8M	$94.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,577.9	−0.011%	$571.8M	$22.4M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,760.1	+0.200%	$38.2M	$148.4M	75x	as long as short
edgeX BTCUSDClong	+0.0100%	4h	86,587	long leg	$279.7M	$950.9M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,622.1	+0.040%	$217.5M	$187.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,626.6	+0.046%	$141.4M	$322.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,625.2	+0.044%	$30.8M	$205.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,777.7	+0.220%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,739	+0.176%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,756.5	+0.196%	$198K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,783.6	+0.227%	$2.5M	$8.5M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,793.6	+0.239%	$141K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,758.8	+0.198%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,741.8	+0.179%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,751	+0.189%	$60.6M	$336.4M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,759.1	+0.199%	$2.30B	$958.2M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,738.1	+0.174%	$46.3M	$228.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,759.8	+0.200%	—	$98.4M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0116%	1h	86,783.4	+0.227%	$188.5M	$932.5M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,796	+0.241%	$132.3M	$5.86B	50x	as long as short
Kalshi KXBTCPERP	+0.0130%	8h	86,763	+0.203%	$9.6M	$725.8M	6.4x	as long as short
BloFin BTC-USDT	+0.0175%	8h	86,679.4	+0.107%	$417.3M	$653.6M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0179% / S −0.0201%	1h	86,773.4	+0.215%	$14.7M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	86,666.7	+0.092%	$614K	$7.1M	30x	as long as short