Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.010%

Price spread now: edgeX against Paradex−0.091%7-day average −0.049% · 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−$20as in the Price arb table

costs, in and out, $10k−$160.162% of the position

Long on Paradex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.162%−$16 on $10k

Price spread, last 7 days+0.077%+$8 · spread now −0.091%, 7d avg −0.049%

Together, before fees−0.085%+ Points / potential airdropParadex: Active · edgeX: 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: edgeX is 0.042% cheaper against Paradex than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BTC-USD-PERP	85,567.3	0.0100	pay 0.0100% / 8h	3h 30m	$5.7M	$9.4M	50x
Short	edgeX BTCUSDC	85,489.2	0.0100	get 0.0050% / 4h	3h 30m	$279.3M	$927.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.091%Rate

Funding earned: $0.01
Price spread: −0.091% → −0.049%: −$4.23
Slippage, 4 orders: −$3.19
Fee Paradex: 2 bp × 2 orders: −$4
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$20.41
Costs to cover: 0.162%
Break-even: 10281.6 days

Slippage from Paradex: live order book, 3 min ago; edgeX: live order book, 3 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, 3 min ago	1.57 bp	3.6 bp −$4	3.6 bp −$36	doesn't fit	doesn't fit
Sell edgeX live order book, 3 min ago	0.02 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$469	5.6 bp −$2,787

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	−0.0140%	1h	85,533	−0.040%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,531	−0.042%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0041%	8h	85,561.7	−0.007%	$919.5M	$756.8M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,579.1	+0.014%	$419.6M	$675.6M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,587.7	+0.024%	$366K	$2.3M	50x	as long as short
Aster BTCUSDT	+0.0003%	8h	85,575	+0.009%	$515.4M	$1.10B	200x	as long as short
Nado BTC-PERP	+0.0003%	1h	85,521.7	−0.053%	$24.7M	$223.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,594.6	+0.032%	$36.6M	—	200x	as long as short
dYdX BTC-USD	+0.0025%	1h	85,526.9	−0.047%	$16.8M	$21.2M	50x	as long as short
Injective BTC/USDC PERP	+0.0044%	1h	85,574	+0.008%	$340K	$26.9M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BTCUSDT	+0.0065%	8h	85,593.7	+0.031%	$148.1M	$494.4M	150x	as long as short
BingX BTC-USDT	+0.0065%	8h	85,593.9	+0.031%	—	$1.54B	—	as long as short
Deribit BTC-PERPETUAL	+0.0080%	1h	85,642.4	+0.088%	$884.6M	$1.59B	50x	as long as short
Bitget BTCUSDT	+0.0081%	8h	85,579.5	+0.014%	$2.96B	$5.12B	150x	as long as short
SoDEX BTC-USD	+0.0085%	1h	85,591	+0.028%	$60.0M	$336.0M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,607.4	+0.047%	$172.1M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,605	+0.044%	$24.0M	$148.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,578	+0.013%	$8.4M	$55.1M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,605.5	+0.045%	$2.5M	$1.7M	20x	as long as short
Reya BTCRUSDPERP	+0.0098%	1h	85,586.1	+0.022%	$6.6M	$147.0M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,560	−0.008%	$200K	$8.3M	50x	as long as short
Paradex BTC-USD-PERPlong	+0.0100%	8h	85,567.3	long leg	$5.7M	$9.4M	50x
Hyperliquid BTC	+0.0100%	1h	85,674	+0.125%	$3.79B	$5.02B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,570	+0.003%	$40.3M	$584.0M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,586.5	+0.022%	$9.42B	$24.39B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,579.2	+0.014%	$5.19B	$9.86B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,586.1	+0.022%	$2.59B	$12.14B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,575	+0.009%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,578.7	+0.013%	$4.7M	$100.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,517.4	−0.058%	$680.3M	$725.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,594.2	+0.031%	$5.55B	$10.80B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,579.3	+0.014%	$5.08B	$5.66B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,588.1	+0.024%	$36.2M	$179.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,584.9	+0.021%	$154.4M	$565.9M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	85,489.2	−0.091%	$279.3M	$927.3M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,522	−0.053%	$214.9M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,519.9	−0.055%	$139.8M	$315.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,549	−0.021%	$30.2M	$207.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,632	+0.076%	—	$11.4M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,591	+0.028%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,580	+0.015%	$197K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,609.1	+0.049%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,655.4	+0.103%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,597.6	+0.035%	$30.1M	$50.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,583.5	+0.019%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,580.2	+0.015%	$2.27B	$948.7M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,539.1	−0.033%	$44.9M	$233.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,520.8	−0.054%	—	$107.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,627	+0.070%	$117.5M	$5.25B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,613.8	+0.054%	$187.9M	$954.8M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,612.1	+0.052%	$8.7M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0153%	1h	85,592.7	+0.030%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0204%	8h	85,589	+0.025%	$11.7M	$755.0M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0245%	1h	85,555.3	−0.014%	$78K	$221K	20x	as long as short
Hibachi BTC/USDT-P	+0.0248%	1h	85,568.4	+0.001%	$697K	$7.9M	30x	as long as short
Perpl BTC	+0.0335%	43m	85,580.7	+0.016%	$504K	$18.8M	6.7x	as long as short