Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.053%

Price spread now: Paradex against Hotstuff+0.043%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · Paradex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Paradex is 0.043% dearer against Hotstuff than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BTC-PERP	86,521	−0.0080	get 0.0010% / 1h	53m 30s	$9K	$3K	50x
Short	Paradex BTC-USD-PERP	86,558.3	0.0100	get 0.0100% / 8h	53m 30s	$4.8M	$8.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Hotstuff. 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 HotstuffbpFee ParadexbpOrdersPrice spread, now +0.043%Rate

Funding earned: $37.78
Price spread: +0.043% → 0.000%: $4.31
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: $33.09
Costs to cover: 0.090%
Break-even: 0.9 days

Slippage unknown: Hotstuff: no order-book sample; Paradex: live order book, 1 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Paradex live order book, 1 min ago	0.08 bp	4.1 bp −$4	4.1 bp −$41	doesn't fit	doesn't fit

Hotstuff: 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	−0.0118%	1h	86,543	+0.025%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERPlong	−0.0080%	1h	86,521	long leg	$9K	$3K	50x
Injective BTC/USDC PERP	−0.0035%	1h	86,601	+0.092%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,596.2	+0.087%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,599.1	+0.090%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0004%	8h	86,581.5	+0.070%	$504.1M	$1.15B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,585.3	+0.074%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0009%	8h	86,583	+0.072%	$851.0M	$713.8M	125x	as long as short
Reya BTCRUSDPERP	+0.0024%	1h	86,573.8	+0.061%	$6.7M	$145.3M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0025%	1h	86,579.3	+0.067%	$917.2M	$1.49B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0040%	8h	86,572.6	+0.060%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0042%	8h	86,543.9	+0.026%	$149.8M	$478.3M	150x	as long as short
dYdX BTC-USD	+0.0046%	1h	86,547.3	+0.030%	$17.0M	$21.1M	50x	as long as short
Bitget BTCUSDT	+0.0051%	8h	86,585.4	+0.074%	$2.96B	$5.12B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,555	+0.039%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0070%	8h	86,575.5	+0.063%	$5.13B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0071%	8h	86,588.6	+0.078%	$9.44B	$24.53B	150x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,578.4	+0.066%	$5.88B	$10.70B	200x	as long as short
Aftermath Perps BTCUSD	+0.0091%	1h	86,502.3	−0.022%	$79K	$220K	20x	as long as short
Lighter BTC	+0.0096%	1h	86,534	+0.015%	$170.3M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,545.7	+0.029%	$24.0M	$151.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,589	+0.079%	$8.5M	$52.5M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,591.4	+0.081%	$5.27B	$9.81B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,565	+0.051%	$199K	$7.0M	50x	as long as short
Paradex BTC-USD-PERPshort	+0.0100%	8h	86,558.3	+0.043%	$4.8M	$8.5M	50x
Nado BTC-PERP	+0.0100%	1h	86,515.6	−0.006%	$21.9M	$234.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,661	+0.162%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,575.3	+0.063%	$41.2M	$521.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,590.3	+0.080%	$2.54B	$12.74B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,580	+0.068%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,622.8	+0.118%	$7.6M	$94.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,382.9	−0.160%	$571.1M	$18.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,544.2	+0.027%	$37.9M	$154.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,463.3	−0.067%	$155.7M	$568.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,512.3	−0.010%	$279.6M	$945.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,538.5	+0.020%	$217.2M	$173.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,442	−0.091%	$141.3M	$323.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,523.5	+0.003%	$30.7M	$204.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,620.9	+0.115%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,586	+0.075%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,571.7	+0.059%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,542.1	+0.024%	$2.4M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,572.5	+0.060%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,588.4	+0.078%	$30.6M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,531.5	+0.012%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,546	+0.029%	$60.5M	$337.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,535.6	+0.017%	$2.30B	$969.3M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,545.1	+0.028%	$45.4M	$226.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,554.8	+0.039%	—	$99.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,574.8	+0.062%	$192.1M	$948.0M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,582.9	+0.072%	$417K	$23.4M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,589.4	+0.079%	$132.7M	$5.68B	50x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	86,561.3	+0.047%	$718K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0189%	8h	86,530.5	+0.011%	$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	+0.033%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0203%	8h	86,567	+0.053%	$9.8M	$739.0M	6.4x	as long as short