Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.008%

Price spread now: Aevo against Paradex−0.009%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on Paradex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.018%−$2 on $10k

Price spread, last 3 days (all we have)−0.056%−$6 · spread now −0.009%, 7d avg −0.044%

Together, before fees−0.074%+ Points / potential airdropParadex: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aevo is 0.035% dearer against Paradex than usual: you sell high and buy low (spread −0.009% now, against its 7-day average of −0.044%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 4 days (−0.018% in total) that is about 7.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BTC-USD-PERP	86,562.9	0.0100	pay 0.0100% / 8h	54m 06s	$4.8M	$8.5M	50x
Short	Aevo BTC-PERP	86,555	0.0064	get 0.0008% / 1h	54m 06s	$2.4M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Paradex. 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 ParadexbpFee AevobpOrdersPrice spread, now −0.009%Rate

Funding earned: −$7.54
Price spread: −0.009% → −0.044%: $3.49
Slippage, 4 orders: −$6.09
Fee Paradex: 2 bp × 2 orders: −$4
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$30.14
Costs to cover: 0.261%
Break-even: never at this rate

Slippage from Paradex: live order book, 5 min ago; Aevo: live order book, 5 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 Paradex live order book, 5 min ago	1.00 bp	3.0 bp −$3	3.0 bp −$30	doesn't fit	doesn't fit
Sell Aevo live order book, 5 min ago	0.90 bp	10.2 bp −$10	11.3 bp −$113	13.1 bp −$1,311	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	−0.0159%	1h	86,468	−0.110%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,528	−0.040%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,601	+0.044%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,548.4	−0.017%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,551.1	−0.014%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0004%	8h	86,549.9	−0.015%	$503.9M	$1.15B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,554.4	−0.010%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0009%	8h	86,551.2	−0.014%	$850.5M	$713.8M	125x	as long as short
Reya BTCRUSDPERP	+0.0024%	1h	86,533	−0.035%	$6.7M	$145.2M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0025%	1h	86,579.3	+0.019%	$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	86,546.5	−0.019%	—	$1.59B	—	as long as short
dYdX BTC-USD	+0.0041%	1h	86,547.3	−0.018%	$17.0M	$21.1M	50x	as long as short
Phemex BTCUSDT	+0.0042%	8h	86,543.9	−0.022%	$149.8M	$478.3M	150x	as long as short
Bitget BTCUSDT	+0.0051%	8h	86,543.2	−0.023%	$2.96B	$5.12B	150x	as long as short
Aevo BTC-PERPshort	+0.0064%	1h	86,555	−0.009%	$2.4M	$1.3M	20x
MEXC BTC_USDT	+0.0069%	8h	86,546.4	−0.019%	$5.13B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0070%	8h	86,544.3	−0.022%	$9.43B	$24.52B	150x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,543.8	−0.022%	$5.88B	$10.70B	200x	as long as short
Aftermath Perps BTCUSD	+0.0089%	1h	86,483.1	−0.092%	$79K	$220K	20x	as long as short
Lighter BTC	+0.0096%	1h	86,558.6	−0.005%	$170.4M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,569.3	+0.007%	$24.1M	$151.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,541	−0.025%	$8.5M	$52.5M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,541.9	−0.024%	$5.26B	$9.80B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,526	−0.043%	$199K	$7.0M	50x	as long as short
Paradex BTC-USD-PERPlong	+0.0100%	8h	86,562.9	long leg	$4.8M	$8.5M	50x
Nado BTC-PERP	+0.0100%	1h	86,546.4	−0.019%	$21.9M	$234.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,622	+0.068%	$3.80B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,554.3	−0.010%	$41.2M	$521.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,545.9	−0.020%	$2.54B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,530	−0.038%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,571.9	+0.010%	$7.6M	$94.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,382.9	−0.208%	$571.1M	$18.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,544.2	−0.022%	$37.9M	$154.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,463.3	−0.115%	$155.7M	$568.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,420.7	−0.164%	$279.3M	$944.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,455.1	−0.125%	$217.0M	$173.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,442	−0.140%	$141.3M	$323.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,523.5	−0.046%	$30.7M	$204.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,583.1	+0.023%	—	$11.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,536	−0.031%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,542	−0.024%	$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	+0.011%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,588.4	+0.029%	$30.6M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,531.5	−0.036%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,546	−0.020%	$60.5M	$337.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,535.6	−0.032%	$2.30B	$969.3M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,537.9	−0.029%	$45.3M	$226.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,554.8	−0.009%	—	$99.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,574.8	+0.014%	$192.1M	$948.0M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,536.9	−0.030%	$416K	$23.4M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,589.4	+0.031%	$132.7M	$5.68B	50x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	86,576.8	+0.016%	$718K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0189%	8h	86,530.5	−0.037%	$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	−0.016%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0203%	8h	86,567	+0.005%	$9.8M	$739.0M	6.4x	as long as short