Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: StandX against Paradex+0.013%49s7-day average −0.015% · 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—prices read too far apart to compare

costs, in and out, $10k−$170.168% of the position

Long on Paradex Short on StandX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.002%$0 on $10k

Price spread, last 7 days−0.099%−$10 · spread now +0.013%, 7d avg −0.015%

Together, before fees−0.102%+ Points / potential airdropParadex: Active · StandX: Active · farm board−$10 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: StandX is 0.028% dearer against Paradex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.015%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BTC-USD-PERP	86,486.1	0.0100	pay 0.0100% / 8h	1h 31m	$4.8M	$8.4M	50x
Short	StandX BTC-USD	86,497.5	0.0100	get 0.0013% / 1h	31m 37s	$30.7M	$203.6M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX 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 StandXbpOrdersPrice spread, now +0.013%Rate

Funding earned: $0.03
Price spread: +0.013% → −0.015%: $2.82
Slippage, 4 orders: −$4.84
Fee Paradex: 2 bp × 2 orders: −$4
Fee StandX: 4 bp × 2 orders: −$8
Net: −$13.99
Costs to cover: 0.168%
Break-even: 3056.8 days

Slippage from Paradex: live order book, 3 min ago; StandX: 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	0.15 bp	3.8 bp −$4	3.8 bp −$38	doesn't fit	doesn't fit
Sell StandX live order book, 3 min ago	0.64 bp	5.4 bp −$5	6.2 bp −$62	7.1 bp −$707	9.8 bp −$4,880

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	−0.0534%	1h	86,457	−0.034%	$140K	$618K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,627	+0.163%	$2.2M	$11.8M	40x	as long as short
Aftermath Perps BTCUSD	−0.0101%	1h	86,569	+0.096%	$83K	$216K	20x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,440	−0.053%	$9K	$3K	50x	as long as short
Aster BTCUSDT	−0.0011%	8h	86,431.9	−0.063%	$504.4M	$1.15B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,456.2	−0.035%	$358K	$2.4M	50x	as long as short
dYdX BTC-USD	−0.0002%	1h	86,483.7	−0.003%	$17.1M	$20.7M	50x	as long as short
KuCoin XBTUSDTM	−0.0001%	8h	86,434.5	−0.060%	$851.2M	$708.9M	125x	as long as short
Perpl BTC	0.0000%	43m	86,500.3	+0.016%	$422K	$23.8M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,487	+0.001%	$922.9M	$1.48B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,470.9	−0.018%	$36.8M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,447.8	−0.044%	$8.5M	$43.2M	25x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,427.6	−0.068%	$6.7M	$144.9M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.084%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0032%	8h	86,464.9	−0.025%	$149.6M	$475.9M	150x	as long as short
BingX BTC-USDC	+0.0034%	8h	86,420.3	−0.076%	—	$15.3M	—	as long as short
Bitget BTCUSDT	+0.0043%	8h	86,436.3	−0.058%	$2.94B	$5.08B	150x	as long as short
Hibachi BTC/USDT-P	+0.0048%	1h	86,530.4	+0.051%	$730K	$8.2M	30x	as long as short
Binance BTCUSDT	+0.0060%	8h	86,442.7	−0.050%	$9.41B	$24.33B	150x	as long as short
MEXC BTC_USDT	+0.0060%	8h	86,447.6	−0.045%	$5.15B	$5.66B	500x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,432.2	−0.062%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0074%	8h	86,444.1	−0.049%	$5.84B	$10.67B	200x	as long as short
Bybit BTCUSDT	+0.0089%	8h	86,439.6	−0.054%	$5.27B	$9.71B	150x	as long as short
SoDEX BTC-USD	+0.0090%	1h	86,447	−0.045%	$60.4M	$337.2M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,450.1	−0.042%	$171.4M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,461.8	−0.028%	$24.0M	$152.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,443	−0.050%	$8.5M	$52.2M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,429	−0.066%	$200K	$6.9M	50x	as long as short
Paradex BTC-USD-PERPlong	+0.0100%	8h	86,486.1	long leg	$4.8M	$8.4M	50x
Nado BTC-PERP	+0.0100%	1h	86,455.6	−0.035%	$21.9M	$233.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,523.1	+0.043%	$3.81B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,477.2	−0.010%	$41.0M	$505.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,436.6	−0.057%	$2.54B	$12.69B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,446	−0.046%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,517.7	+0.037%	$7.4M	$93.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,703.1	+0.251%	$573.0M	$18.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,432.2	−0.062%	$38.3M	$153.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,541.3	+0.064%	$156.5M	$566.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,509.2	+0.027%	$279.5M	$944.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,543.9	+0.067%	$217.3M	$174.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,543.1	+0.066%	$141.5M	$323.1M	100x	as long as short
StandX BTC-USDshort	+0.0100%	1h	86,497.5	+0.013%	$30.7M	$203.6M	40x
Vest BTC-PERP	+0.0100%	1h	86,498	+0.014%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,435	−0.059%	$11.0M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,446.8	−0.045%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,457.1	−0.034%	$2.4M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,449.2	−0.043%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,462.6	−0.027%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,442.7	−0.050%	$2.29B	$965.2M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,416.7	−0.080%	$46.4M	$225.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,483.1	−0.003%	—	$98.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,502.9	+0.019%	$131.7M	$5.70B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,498.6	+0.014%	$191.1M	$937.7M	100x	as long as short
BloFin BTC-USDT	+0.0180%	8h	86,473.2	−0.015%	$414.5M	$651.6M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0183% / S −0.0216%	1h	86,463.2	−0.027%	$15.4M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0195%	8h	86,478	−0.009%	$9.8M	$729.6M	6.4x	as long as short