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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: SunX against Paradex−0.022%7-day average −0.036% · 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−$15as in the Price arb table

costs, in and out, $10k−$160.165% of the position

Long on Paradex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 3 days (all we have)−0.038%−$4 · spread now −0.022%, 7d avg −0.036%

Together, before fees−0.044%+ Points / potential airdropParadex: Active · farm board−$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BTC-USD-PERP	85,740.5	0.0100	pay 0.0100% / 8h	6h 24m	$3.8M	$8.4M	50x
Short	SunX BTC-USDT	85,722	0.0100	get 0.0100% / 8h	6h 24m	$2.9M	$6.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.022%Rate

Funding earned: $0.03
Price spread: −0.022% → −0.036%: $1.47
Slippage, 4 orders: −$4.47
Fee Paradex: 2 bp × 2 orders: −$4
Fee SunX: 4 bp × 2 orders: −$8
Net: −$14.98
Costs to cover: 0.165%
Break-even: 4070.0 days

Slippage from Paradex: live order book, 5 min ago; SunX: 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	0.71 bp	2.7 bp −$3	2.7 bp −$27	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	0.23 bp	4.2 bp −$4	5.7 bp −$57	9.0 bp −$902	doesn't fit

BTC on 55 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	−0.0144%	1h	85,733	−0.009%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,777	+0.043%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,745.4	+0.006%	$365K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,805.5	+0.076%	$514K	$20.5M	6.7x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,800	+0.069%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,768.7	+0.033%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	−0.058%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0033%	8h	85,735.7	−0.006%	$903.4M	$754.4M	125x	as long as short
Aster BTCUSDT	+0.0037%	8h	85,753	+0.015%	$516.6M	$1.14B	200x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,779.1	+0.045%	$8.2M	$42.0M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0055%	1h	85,792.9	+0.061%	$22.6M	$227.5M	50x	as long as short
BingX BTC-USDT	+0.0055%	8h	85,763.7	+0.027%	—	$1.57B	—	as long as short
Reya BTCRUSDPERP	+0.0058%	1h	85,751.1	+0.012%	$6.7M	$146.3M	40x	as long as short
Bitget BTCUSDT	+0.0070%	8h	85,753.8	+0.015%	$2.95B	$5.08B	150x	as long as short
ApeX Omni BTCUSDT	+0.0070%	1h	85,752.5	+0.014%	$140.2M	$319.5M	100x	as long as short
HTX BTC-USDT	+0.0075%	8h	85,734.1	−0.007%	$2.27B	$946.6M	200x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,746.3	+0.007%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0091%	8h	85,751.4	+0.013%	$5.07B	$5.73B	500x	as long as short
Binance BTCUSDT	+0.0092%	8h	85,751.2	+0.012%	$9.34B	$24.30B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,762.3	+0.025%	$170.4M	$990.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,769.6	+0.034%	$23.5M	$147.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,757	+0.019%	$8.4M	$51.9M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,732	−0.010%	$202K	$7.5M	50x	as long as short
Paradex BTC-USD-PERPlong	+0.0100%	8h	85,740.5	long leg	$3.8M	$8.4M	50x
Hyperliquid BTC	+0.0100%	1h	85,816	+0.088%	$3.76B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,808	+0.079%	$40.3M	$571.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,765.7	+0.029%	$5.31B	$9.74B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,770.9	+0.035%	$2.54B	$12.36B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,764	+0.027%	$4.0M	$18.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,726.5	−0.016%	$7.3M	$98.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,744.8	+0.005%	$590.5M	$195.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,759.3	+0.022%	$5.61B	$10.54B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,745.8	+0.006%	$35.4M	$164.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,799.4	+0.069%	$156.6M	$556.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,740.4	0.000%	$278.7M	$939.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,752.4	+0.014%	$215.2M	$166.3M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,779.6	+0.046%	$30.3M	$208.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,819.6	+0.092%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,752	+0.013%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,764	+0.027%	$187K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,754.9	+0.017%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,781.2	+0.047%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,760.3	+0.023%	$30.0M	$56.2M	15x	as long as short
SunX BTC-USDTshort	+0.0100%	8h	85,722	−0.022%	$2.9M	$6.6M	100x
SoDEX BTC-USD	+0.0100%	1h	85,756	+0.018%	$60.0M	$337.3M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,756.3	+0.018%	$154.2M	$480.4M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,734.1	−0.008%	$44.1M	$228.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,768.4	+0.033%	—	$100.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,792	+0.060%	$131.1M	$5.15B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,815.6	+0.088%	$697K	$7.9M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,775.9	+0.041%	$188.5M	$962.9M	100x	as long as short
Aftermath Perps BTCUSD	+0.0164%	1h	85,750.4	+0.012%	$78K	$219K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0176%	1h	85,797.4	+0.066%	$894.7M	$1.53B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0190%	1h	85,766.1	+0.030%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,798	+0.067%	$10.1M	$769.9M	6.4x	as long as short