Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: Arcus against Paradex−0.042%7-day average +0.021% · 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−$21as in the Price arb table

costs, in and out, $10k−$140.143% of the position

Long on Paradex Short on Arcus

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 7 days+0.100%+$10 · spread now −0.042%, 7d avg +0.021%

Together, before fees+0.082%+ Points / potential airdropParadex: Active · farm board+$8 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: Arcus is 0.063% cheaper against Paradex than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BTC-USD-PERP	85,791.2	0.0100	pay 0.0100% / 8h	7h 22m	$5.8M	$9.3M	50x
Short	Arcus BTC-USD	85,755.2	0.0100	get 0.0013% / 1h	22m 18s	$5.0M	$96.4M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.042%Rate

Funding earned: $0.01
Price spread: −0.042% → +0.021%: −$6.27
Slippage, 4 orders: −$5.76
Fee Paradex: 2 bp × 2 orders: −$4
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$20.52
Costs to cover: 0.143%
Break-even: 21405.1 days

Slippage from Paradex: live order book, 2 min ago; Arcus: live order book, 2 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, 2 min ago	2.29 bp	4.3 bp −$4	4.3 bp −$43	doesn't fit	doesn't fit
Sell Arcus live order book, 2 min ago	0.19 bp	2.6 bp −$3	2.9 bp −$29	3.9 bp −$387	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
Bluefin BTC-PERP	−0.0784%	1h	85,854.9	+0.074%	$195K	$785K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,694	−0.113%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,706.9	−0.098%	$425.8M	$654.2M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,652	−0.162%	$307K	$26.2M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,741.1	−0.058%	$355K	$2.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,715	−0.089%	$36.7M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0022%	8h	85,746.5	−0.052%	$944.3M	$755.2M	125x	as long as short
Aster BTCUSDT	+0.0039%	8h	85,762.9	−0.033%	$504.5M	$1.05B	200x	as long as short
dYdX BTC-USD	+0.0051%	1h	85,738.3	−0.062%	$16.8M	$20.7M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,805	+0.016%	$186.5M	$911.9M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,520	−0.316%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDC	+0.0080%	8h	85,791.7	+0.001%	—	$17.3M	—	as long as short
Nado BTC-PERP	+0.0083%	1h	85,738.8	−0.061%	$24.4M	$213.6M	50x	as long as short
Lighter BTC	+0.0096%	1h	85,784.4	−0.008%	$172.1M	$951.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,759	−0.038%	$23.5M	$135.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,742	−0.057%	$8.7M	$56.0M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,785.2	−0.007%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,726	−0.076%	$266K	$8.6M	50x	as long as short
Paradex BTC-USD-PERPlong	+0.0100%	8h	85,791.2	long leg	$5.8M	$9.3M	50x
Pacifica BTC	+0.0100%	1h	85,783.5	−0.009%	$40.4M	$602.4M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,790	−0.001%	$9.42B	$24.38B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,809.6	+0.021%	$5.10B	$9.68B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,811.6	+0.024%	$2.62B	$11.65B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,726	−0.076%	$3.9M	$17.1M	25x	as long as short
Arcus BTC-USDshort	+0.0100%	1h	85,755.2	−0.042%	$5.0M	$96.4M	40x
Bulk BTC-USD	+0.0100%	1h	85,303.3	−0.569%	$702.0M	$164.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,794.7	+0.004%	$5.51B	$9.97B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,780.8	−0.012%	$5.07B	$5.79B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,800	+0.010%	$2.99B	$4.91B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,705.3	−0.100%	$37.7M	$192.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,352.3	−0.512%	$155.8M	$535.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,427	−0.425%	$285.6M	$964.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,464	−0.381%	$214.5M	$157.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,415	−0.439%	$136.6M	$312.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,531.9	−0.302%	$30.2M	$217.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,818.3	+0.032%	—	$9.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,775	−0.019%	$10.9M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,808.4	+0.020%	$210K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,812.3	+0.025%	$2.6M	$9.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,444.6	−0.404%	$28.8M	$52.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,792.7	+0.002%	$3.1M	$7.0M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,788	−0.004%	$60.0M	$311.8M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,722.5	−0.080%	$2.27B	$954.8M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,787.8	−0.004%	$165.6M	$509.2M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,769	−0.026%	$45.7M	$236.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,755.5	−0.042%	—	$103.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,833	+0.049%	$112.1M	$5.40B	50x	as long as short
Reya BTCRUSDPERP	+0.0151%	1h	85,769.4	−0.025%	$6.6M	$135.8M	40x	as long as short
Hyperliquid BTC	+0.0155%	1h	85,856	+0.075%	$3.86B	$4.74B	40x	as long as short
Kalshi KXBTCPERP	+0.0190%	8h	85,686	−0.123%	$10.8M	$735.9M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,776.3	−0.017%	$9.0M	$41.7M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0198% / S −0.0175%	1h	85,718.7	−0.085%	$12.9M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0218%	1h	85,833.8	+0.050%	$833.2M	$1.64B	50x	as long as short
Hibachi BTC/USDT-P	+0.0344%	1h	85,721.6	−0.081%	$694K	$7.5M	30x	as long as short
Aftermath Perps BTCUSD	+0.0348%	1h	85,560.4	−0.269%	$81K	$259K	20x	as long as short
Perpl BTC	+0.0447%	43m	85,792.3	+0.001%	$459K	$17.3M	6.7x	as long as short