Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: Paradex against HTX+0.065%7-day average +0.043% · 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−$16as in the Price arb table

costs, in and out, $10k−$180.181% of the position

Long on HTX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.045%+$4 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.065%, 7d avg +0.043%

Together, before fees+0.069%+ Points / potential airdropParadex: Active · farm board+$7 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 0.022% dearer against HTX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BTC-USDT	85,404.3	0.0100	pay 0.0100% / 8h	3h 08m	$2.26B	$950.1M	200x
Short	Paradex BTC-USD-PERP	85,459.8	0.0100	get 0.0100% / 8h	3h 08m	$5.7M	$9.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against HTX. 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 HTXbpFee ParadexbpOrdersPrice spread, now +0.065%Rate

Funding earned: $0
Price spread: +0.065% → +0.043%: $2.2
Slippage, 4 orders: −$2.11
Fee HTX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$15.91
Costs to cover: 0.181%
Break-even: never at this rate

Slippage from HTX: live order book, 1 min ago; Paradex: live order book, 1 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 HTX live order book, 1 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.0 bp −$602	8.6 bp −$4,312
Sell Paradex live order book, 1 min ago	1.05 bp	3.0 bp −$3	3.0 bp −$30	175.4 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
Phoenix BTC	−0.0140%	1h	85,444	+0.046%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,426	+0.025%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0046%	8h	85,402.5	−0.002%	$919.0M	$758.0M	125x	as long as short
BloFin BTC-USDT	−0.0029%	8h	85,430	+0.030%	$419.7M	$675.3M	150x	as long as short
Aster BTCUSDT	−0.0011%	8h	85,411.4	+0.008%	$514.2M	$1.10B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	85,422	+0.021%	$363K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,415.1	+0.013%	$502K	$18.7M	6.7x	as long as short
Nado BTC-PERP	+0.0003%	1h	85,407.3	+0.003%	$24.4M	$222.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,432.8	+0.033%	$36.5M	—	200x	as long as short
dYdX BTC-USD	+0.0027%	1h	85,448.7	+0.052%	$16.8M	$21.2M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0044%	1h	85,552	+0.173%	$340K	$26.9M	52x	as long as short
SoDEX BTC-USD	+0.0045%	1h	85,421	+0.020%	$59.8M	$335.9M	40x	as long as short
BingX BTC-USDC	+0.0063%	8h	85,403.2	−0.001%	—	$17.1M	—	as long as short
Phemex BTCUSDT	+0.0066%	8h	85,421.5	+0.020%	$148.6M	$497.8M	150x	as long as short
Bitget BTCUSDT	+0.0079%	8h	85,418.7	+0.017%	$2.95B	$5.12B	150x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,415	+0.012%	$2.9M	$3.9M	20x	as long as short
MEXC BTC_USDT	+0.0090%	8h	85,417.9	+0.016%	$5.07B	$5.68B	500x	as long as short
Binance BTCUSDT	+0.0091%	8h	85,421.4	+0.020%	$9.45B	$24.48B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0094%	1h	85,466.2	+0.072%	$872.3M	$1.60B	50x	as long as short
Lighter BTC	+0.0096%	1h	85,430.4	+0.031%	$171.9M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,424.6	+0.024%	$23.9M	$149.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,404	0.000%	$8.4M	$55.2M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,393	−0.013%	$228K	$8.4M	50x	as long as short
Paradex BTC-USD-PERPshort	+0.0100%	8h	85,459.8	+0.065%	$5.7M	$9.4M	50x
Hyperliquid BTC	+0.0100%	1h	85,494	+0.105%	$3.78B	$5.02B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,452.1	+0.056%	$40.4M	$590.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,414.1	+0.011%	$5.17B	$9.86B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,425.7	+0.025%	$2.59B	$12.11B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,417	+0.015%	$3.8M	$17.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,412.3	+0.009%	$4.7M	$99.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,455.5	+0.060%	$679.5M	$683.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,421.7	+0.020%	$5.53B	$10.86B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,403.6	−0.001%	$36.4M	$178.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,415.2	+0.013%	$154.4M	$565.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,455.6	+0.060%	$279.2M	$930.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,470.5	+0.078%	$214.8M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,468.6	+0.075%	$139.7M	$316.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,468	+0.075%	$30.2M	$206.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,474.1	+0.082%	—	$11.0M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,422	+0.021%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,418.3	+0.016%	$204K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,416.3	+0.014%	$2.5M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,466.4	+0.073%	$206K	$737K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,402.5	−0.002%	$30.0M	$50.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,386.3	−0.021%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDTlong	+0.0100%	8h	85,404.3	long leg	$2.26B	$950.1M	200x
Extended BTC-USD	+0.0104%	1h	85,396.1	−0.010%	$45.8M	$234.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,430.3	+0.030%	—	$106.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,448.2	+0.051%	$117.6M	$5.26B	50x	as long as short
Reya BTCRUSDPERP	+0.0105%	1h	85,405.6	+0.001%	$6.6M	$147.2M	40x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,442.9	+0.045%	$187.7M	$956.8M	100x	as long as short
Kalshi KXBTCPERP	+0.0159%	8h	85,455	+0.059%	$11.4M	$752.9M	6.4x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,443.2	+0.046%	$8.6M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,430.1	+0.030%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0232%	1h	85,465.9	+0.072%	$700K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0255%	1h	85,479.2	+0.088%	$79K	$222K	20x	as long as short