BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.16 per $10,000 · paid last 24h −0.001%

Price spread now: Bybit against Paradex−0.082%7-day average −0.010% · 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−$24as in the Price arb table

costs, in and out, $10k−$170.170% of the position

Long on Paradex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.015%−$1 on $10k

Price spread, last 7 days+0.068%+$7 · spread now −0.082%, 7d avg −0.010%

Together, before fees+0.053%+ Points / potential airdropParadex: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Bybit is 0.073% cheaper against Paradex than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.010%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BTC-USD-PERP	85,447.4	0.0100	pay 0.0100% / 8h	43m 56s	$5.8M	$9.5M	50x
Short	Bybit BTCUSDT	85,377	0.0084	get 0.0084% / 8h	43m 56s	$5.14B	$9.98B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.082%Rate

Funding earned: −$3.4
Price spread: −0.082% → −0.010%: −$7.26
Slippage, 4 orders: −$2.03
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$27.69
Costs to cover: 0.170%
Break-even: never at this rate

Slippage from Paradex: live order book, just now; Bybit: 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, just now	1.01 bp	3.0 bp −$3	3.0 bp −$30	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.01 bp	5.5 bp −$6	5.5 bp −$55	6.3 bp −$635	7.6 bp −$3,782

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
Hotstuff BTC-PERP	−0.0080%	1h	85,414	−0.039%	$8K	$3K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,472	+0.029%	$2.3M	$10.8M	40x	as long as short
KuCoin XBTUSDTM	−0.0026%	8h	85,384.8	−0.073%	$931.0M	$774.5M	125x	as long as short
BloFin BTC-USDT	−0.0022%	8h	85,423.5	−0.028%	$420.9M	$682.7M	150x	as long as short
Aster BTCUSDT	−0.0006%	8h	85,376.4	−0.083%	$512.2M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,431.9	−0.018%	$348K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,439	−0.010%	$484K	$18.3M	6.7x	as long as short
dYdX BTC-USD	+0.0004%	1h	85,444.2	−0.004%	$16.7M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,437.2	−0.012%	$36.5M	—	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,427.2	−0.024%	$185.6M	$952.3M	100x	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	+0.0067%	1h	85,367	−0.094%	$338K	$24.6M	52x	as long as short
ApeX Omni BTCUSDT	+0.0067%	1h	85,418	−0.034%	$139.6M	$313.0M	100x	as long as short
BingX BTC-USDT	+0.0068%	8h	85,384.4	−0.074%	—	$1.57B	—	as long as short
Nado BTC-PERP	+0.0078%	1h	85,435.4	−0.014%	$24.1M	$220.0M	50x	as long as short
Deribit BTC-PERPETUAL	+0.0083%	1h	85,456.5	+0.011%	$841.6M	$1.65B	50x	as long as short
Bybit BTCUSDTshort	+0.0084%	8h	85,377	−0.082%	$5.14B	$9.98B	150x
Bitget BTCUSDT	+0.0091%	8h	85,387.5	−0.070%	$2.97B	$5.18B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,423.9	−0.028%	$169.1M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,427.6	−0.023%	$23.6M	$147.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,419	−0.033%	$8.4M	$57.4M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,422.3	−0.029%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0097%	8h	85,388.9	−0.068%	$5.05B	$5.72B	500x	as long as short
Binance BTCUSDT	+0.0097%	8h	85,389	−0.068%	$9.41B	$25.01B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,399	−0.057%	$272K	$8.7M	50x	as long as short
Paradex BTC-USD-PERPlong	+0.0100%	8h	85,447.4	long leg	$5.8M	$9.5M	50x
Hyperliquid BTC	+0.0100%	1h	85,486	+0.045%	$3.75B	$5.07B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,444.5	−0.003%	$40.1M	$605.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,386	−0.072%	$2.60B	$12.21B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,423	−0.029%	$3.9M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,424.6	−0.027%	$4.7M	$96.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,349	−0.115%	$691.7M	$275.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,405	−0.050%	$5.53B	$11.03B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,390.7	−0.066%	$37.3M	$185.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,426.4	−0.025%	$156.0M	$554.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,436.8	−0.012%	$283.3M	$959.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,457.4	+0.012%	$214.5M	$159.5M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,410.5	−0.043%	$30.1M	$209.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,488.7	+0.048%	—	$10.1M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,429	−0.022%	$11.0M	$14.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,430	−0.020%	$197K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,430.3	−0.020%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,455.2	+0.009%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,379.9	−0.079%	$30.0M	$45.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,406.9	−0.047%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,419	−0.033%	$59.8M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,414.7	−0.038%	$2.26B	$966.2M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,430.1	−0.020%	$158.6M	$513.8M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,367.7	−0.093%	$45.5M	$241.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,429.3	−0.021%	—	$105.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,445.3	−0.002%	$112.1M	$5.48B	50x	as long as short
Reya BTCRUSDPERP	+0.0137%	1h	85,414.3	−0.039%	$6.6M	$146.5M	40x	as long as short
Kalshi KXBTCPERP	+0.0173%	8h	85,452	+0.005%	$12.2M	$736.4M	6.4x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,453	+0.007%	$8.8M	$42.8M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0147%	1h	85,436.8	−0.012%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,484.1	+0.043%	$684K	$7.7M	30x	as long as short
Aftermath Perps BTCUSD	+0.0286%	1h	85,446.5	−0.001%	$79K	$252K	20x	as long as short