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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 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%
Price spread now: Paradex against Lighter+0.040%7-day average +0.001% · 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−$3as in the Price arb table
costs, in and out, $10k−$70.069% of the position
Long on LighterShort on Paradex
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.005%$0 on $10k
Price spread, last 7 days+0.033%+$3 · spread now +0.040%, 7d avg +0.001%
Together, before fees+0.029%+ Points / potential airdropLighter: Season 3 · Paradex: Active · farm board+$3 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% dearer against Lighter than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.001%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter BTC86,347.90.0096pay 0.0012% / 1h30m 36s$171.0M$1.01B50x
ShortParadex BTC-USD-PERP86,382.50.0100get 0.0100% / 8h1h 30m$4.8M$8.4M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Paradex against Lighter. 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

Funding earned
$0.8
Price spread: +0.040% → +0.001%
$3.91
Slippage, 4 orders
−$2.88
Fee Lighter: 0 bp × 2 orders
$0
Fee Paradex: 2 bp × 2 orders
−$4
Net
−$2.17
Costs to cover
0.069%
Break-even
25.8 days
Slippage from Lighter: live order book, 9 min ago; Paradex: live order book, 4 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 Lighter live order book, 9 min ago0.01 bp0.1 bp $00.5 bp −$51.0 bp −$1033.0 bp −$1,502
Sell Paradex live order book, 4 min ago0.15 bp2.2 bp −$22.2 bp −$22doesn'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
Bluefin BTC-PERP−0.0500%1h86,397.1+0.057%$140K$618K40xas long as short
Phoenix BTC−0.0159%1h86,459+0.129%$2.2M$11.8M40xas long as short
Aftermath Perps BTCUSD−0.0092%1h86,549.1+0.233%$83K$216K20xas long as short
Hotstuff BTC-PERP−0.0080%1h86,341−0.008%$9K$3K50xas long as short
Aster BTCUSDT−0.0012%8h86,334.6−0.015%$503.8M$1.15B200xas long as short
01 Exchange BTCUSD−0.0008%1h86,361+0.015%$358K$2.4M50xas long as short
KuCoin XBTUSDTM−0.0001%8h86,331.8−0.019%$850.6M$709.2M125xas long as short
Perpl BTC0.0000%43m86,456.1+0.125%$421K$23.8M6.7xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,400.7+0.061%$921.9M$1.48B50xas long as short
dYdX BTC-USD+0.0001%1h86,364.7+0.019%$16.9M$21.1M50xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,460.7+0.131%$36.8M—200xas long as short
RISEx BTC/USDC+0.0006%1h86,354+0.007%$8.5M$43.2M25xas long as short
Reya BTCRUSDPERP+0.0022%1h86,339.8−0.009%$6.7M$144.9M40xas long as short
Injective BTC/USDC PERP+0.0024%1h86,559+0.244%$315K$26.8M52xas long as short
Phemex BTCUSDT+0.0032%8h86,360+0.014%$149.3M$476.0M150xas long as short
BingX BTC-USDT+0.0034%8h86,348.7+0.001%—$1.59B—as long as short
Bitget BTCUSDT+0.0043%8h86,342.3−0.006%$2.94B$5.09B150xas long as short
Hibachi BTC/USDT-P+0.0056%1h86,482.2+0.156%$724K$8.2M30xas long as short
MEXC BTC_USDT+0.0059%8h86,344.3−0.004%$5.12B$5.67B500xas long as short
Binance BTCUSDT+0.0060%8h86,349+0.001%$9.40B$24.36B150xas long as short
Aevo BTC-PERP+0.0064%1h86,359.9+0.014%$2.4M$1.3M20xas long as short
Gate BTC_USDT+0.0074%8h86,347−0.001%$5.85B$10.67B200xas long as short
SoDEX BTC-USD+0.0089%1h86,370+0.026%$60.4M$337.2M40xas long as short
Bybit BTCUSDT+0.0089%8h86,349.2+0.002%$5.25B$9.73B150xas long as short
Lighter BTClong+0.0096%1h86,347.9long leg$171.0M$1.01B50x
Lighter RH BTC+0.0096%1h86,367.9+0.023%$24.0M$152.0M50xas long as short
Popdex BTCUSDT+0.0096%1h86,350+0.002%$8.4M$52.2M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,332−0.018%$201K$6.9M50xas long as short
Paradex BTC-USD-PERPshort+0.0100%8h86,382.5+0.040%$4.8M$8.4M50x
Nado BTC-PERP+0.0100%1h86,341.9−0.007%$21.8M$233.8M50xas long as short
Hyperliquid BTC+0.0100%1h86,409+0.071%$3.80B$5.10B40xas long as short
Pacifica BTC+0.0100%1h86,380.8+0.038%$41.0M$505.2M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,349.9+0.002%$2.53B$12.70B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,353+0.006%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,419.6+0.083%$7.4M$94.1M40xas long as short
Bulk BTC-USD+0.0100%1h86,343.9−0.005%$570.6M$18.8M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,337−0.013%$38.2M$153.9M75xas long as short
Variational Omni BTC+0.0100%8h86,541.3+0.224%$156.5M$566.0M—as long as short
edgeX BTCUSDC+0.0100%4h86,500.3+0.176%$279.4M$945.4M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,543.9+0.227%$217.3M$174.1M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,518.6+0.198%$141.4M$323.0M100xas long as short
StandX BTC-USD+0.0100%1h86,432+0.097%$30.7M$203.6M40xas long as short
Vest BTC-PERP+0.0100%1h86,402.4+0.063%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,342−0.007%$11.0M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,439.5+0.106%$191K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,380.6+0.038%$2.4M$8.6M100xas long as short
Derive BTC-PERP+0.0100%1h86,375.3+0.032%$30.0M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,422.7+0.087%$3.4M$5.4M100xas long as short
HTX BTC-USDT+0.0100%8h86,330.8−0.020%$2.29B$967.5M200xas long as short
Extended BTC-USD+0.0104%1h86,332.2−0.018%$45.9M$226.1M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,468.4+0.140%—$98.5M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,407.9+0.069%$131.4M$5.69B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,394.1+0.054%$190.3M$939.6M100xas long as short
BloFin BTC-USDT+0.0180%8h86,337.5−0.012%$413.9M$651.2M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0183% / S −0.0217%1h86,451.9+0.120%$15.4M—200xas long as short
Kalshi KXBTCPERP+0.0195%8h86,435+0.101%$9.6M$730.2M6.4xas long as short