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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 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%
Price spread now: Paradex against Lighter RH+0.039%7-day average 0.000% · 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−$4as in the Price arb table
costs, in and out, $10k−$80.083% of the position
Long on Lighter RHShort on Paradex
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.004%$0 on $10k
Price spread, last 7 days−0.002%$0 · spread now +0.039%, 7d avg 0.000%
Together, before fees+0.002%+ Points / potential airdropLighter RH: Points live · Paradex: Active · farm board$0 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 RH than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of 0.000%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter RH BTC86,187.80.0096pay 0.0012% / 1h1m 55s$23.4M$137.8M50x
ShortParadex BTC-USD-PERP86,221.40.0100get 0.0100% / 8h7h 01m$6.1M$8.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Paradex against Lighter RH. 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
$0.81
Price spread: +0.039% → 0.000%
$3.86
Slippage, 4 orders
−$4.28
Fee Lighter RH: 0 bp × 2 orders
$0
Fee Paradex: 2 bp × 2 orders
−$4
Net
−$3.6
Costs to cover
0.083%
Break-even
38.1 days
Slippage from Lighter RH: live order book, 2 min ago; Paradex: live order book, 2 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 RH live order book, 2 min ago0.58 bp0.6 bp −$10.8 bp −$82.8 bp −$28126.5 bp −$13.2K
Sell Paradex live order book, 2 min ago1.20 bp3.2 bp −$33.2 bp −$32216.3 bp −$21.6Kdoesn't fit

BTC on 55 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−0.0205%1h86,224.6+0.043%$196K$673K40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,184−0.004%$8K$2K50xas long as short
BloFin BTC-USDT−0.0020%8h86,210.2+0.026%$423.4M$623.5M150xas long as short
01 Exchange BTCUSD−0.0016%1h86,190.9+0.004%$360K$2.1M50xas long as short
Injective BTC/USDC PERP−0.0006%1h86,248+0.070%$471K$28.2M52xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h86,183−0.006%$36.9M—200xas long as short
dYdX BTC-USD+0.0033%1h86,197.2+0.011%$16.9M$17.6M50xas long as short
KuCoin XBTUSDTM+0.0034%8h86,187.70.000%$938.0M$667.1M125xas long as short
Aster BTCUSDT+0.0049%8h86,181.5−0.007%$504.4M$973.5M200xas long as short
Bybit BTCUSDT+0.0050%8h86,174.2−0.016%$5.12B$9.03B150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDC+0.0058%8h86,162.3−0.030%—$16.8M—as long as short
Kraken Futures PF_XBTUSD+0.0068%1h86,183.1−0.005%$189.3M$866.6M100xas long as short
Phemex BTCUSDT+0.0074%8h86,169.2−0.022%$167.9M$498.5M150xas long as short
Phoenix BTC+0.0075%1h86,283+0.110%$2.3M$10.4M40xas long as short
Lighter BTC+0.0096%1h86,178.9−0.010%$173.7M$969.6M50xas long as short
Lighter RH BTClong+0.0096%1h86,187.8long leg$23.4M$137.8M50x
Popdex BTCUSDT+0.0096%1h86,186−0.002%$8.8M$52.5M100xas long as short
Aevo BTC-PERP+0.0096%1h86,171.9−0.018%$2.4M$6.7M20xas long as short
Katana Perps BTC-USD+0.0100%8h86,164−0.028%$222K$8.2M50xas long as short
Paradex BTC-USD-PERPshort+0.0100%8h86,221.4+0.039%$6.1M$8.6M50x
Nado BTC-PERP+0.0100%1h86,186.5−0.002%$22.0M$210.0M50xas long as short
Pacifica BTC+0.0100%1h86,222.9+0.041%$40.3M$585.4M50xas long as short
Binance BTCUSDT+0.0100%8h86,187−0.001%$9.47B$23.05B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,182.8−0.006%$2.62B$10.77B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,189+0.001%$4.0M$16.4M25xas long as short
Arcus BTC-USD+0.0100%1h86,223.4+0.041%$4.6M$93.5M40xas long as short
Bulk BTC-USD+0.0100%1h86,176.9−0.013%$711.8M$175.1M40xas long as short
Gate BTC_USDT+0.0100%8h86,187−0.001%$5.47B$10.33B200xas long as short
MEXC BTC_USDT+0.0100%8h86,190.5+0.003%$5.08B$5.92B500xas long as short
Bitget BTCUSDT+0.0100%8h86,181.9−0.007%$2.99B$4.54B150xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,160.6−0.032%$37.6M$187.6M75xas long as short
Variational Omni BTC+0.0100%8h86,275.4+0.102%$158.2M$510.0M—as long as short
edgeX BTCUSDC+0.0100%4h86,267.1+0.092%$289.9M$986.6M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,243.6+0.065%$216.7M$143.1M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,270.8+0.096%$137.3M$302.2M100xas long as short
StandX BTC-USD+0.0100%1h86,255.9+0.079%$30.4M$212.6M40xas long as short
Vest BTC-PERP+0.0100%1h86,272.9+0.099%—$10.4M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,194+0.007%$11.0M$13.5M50xas long as short
Bullet BTC-USD+0.0100%1h86,190.8+0.003%$207K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,182.2−0.006%$2.6M$9.5M100xas long as short
SunX BTC-USDT+0.0100%8h86,196.5+0.010%$3.2M$7.0M100xas long as short
SoDEX BTC-USD+0.0100%1h86,170−0.021%$60.3M$257.8M40xas long as short
HTX BTC-USDT+0.0100%8h86,170.7−0.020%$2.28B$909.6M200xas long as short
Extended BTC-USD+0.0104%1h86,162.5−0.029%$46.4M$219.8M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,196+0.010%—$93.5M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,217.7+0.035%$112.7M$5.27B50xas long as short
Hyperliquid BTC+0.0137%1h86,250+0.072%$3.87B$4.74B40xas long as short
Reya BTCRUSDPERP+0.0154%1h86,154.3−0.039%$6.7M$132.4M40xas long as short
Deribit BTC-PERPETUAL+0.0160%1h86,226.9+0.045%$835.6M$1.61B50xas long as short
Kalshi KXBTCPERP+0.0186%8h86,211+0.027%$11.1M$725.9M6.4xas long as short
RISEx BTC/USDC+0.0194%1h86,253.2+0.076%$9.0M$40.7M25xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0200% / S −0.0185%1h86,185.1−0.003%$13.3M—200xas long as short
Hibachi BTC/USDT-P+0.0280%1h86,292.6+0.122%$684K$7.4M30xas long as short
Aftermath Perps BTCUSD+0.0403%1h86,242.2+0.063%$82K$252K20xas long as short
Perpl BTC+0.0447%43m86,219.8+0.037%$495K$16.5M6.7xas long as short