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 +0.012%

Price spread now: Paradex against SoDEX+0.106%7-day average +0.033% · 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−$6as in the Price arb table

costs, in and out, $10k−$140.136% of the position

Long on SoDEX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.024%+$2 on $10k

Price spread, last 3 days (all we have)−0.044%−$4 · spread now +0.106%, 7d avg +0.033%

Together, before fees−0.020%+ Points / potential airdropParadex: Active · farm board−$2 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: Paradex is 0.073% dearer against SoDEX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BTC-USD	86,458	0.0100	pay 0.0013% / 1h	20m 02s	$60.4M	$337.2M	40x
Short	Paradex BTC-USD-PERP	86,549.3	0.0100	get 0.0100% / 8h	1h 20m	$4.8M	$8.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against SoDEX. 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 SoDEXbpFee ParadexbpOrdersPrice spread, now +0.106%Rate

Funding earned: −$0.03
Price spread: +0.106% → +0.033%: $7.29
Slippage, 4 orders: −$1.62
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$6.36
Costs to cover: 0.136%
Break-even: never at this rate

Slippage from SoDEX: live order book, 4 min ago; Paradex: live order book, 4 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 SoDEX live order book, 4 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.7 bp −$571	44.3 bp −$22.1K
Sell Paradex live order book, 4 min ago	0.75 bp	2.8 bp −$3	2.8 bp −$28	doesn't fit	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	−0.0896%	1h	86,479.3	+0.025%	$140K	$620K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,503	+0.052%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,498	+0.046%	$9K	$3K	50x	as long as short
Aster BTCUSDT	−0.0009%	8h	86,465.4	+0.009%	$504.2M	$1.15B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,492.5	+0.040%	$359K	$2.4M	50x	as long as short
Aftermath Perps BTCUSD	−0.0006%	1h	86,529	+0.082%	$82K	$217K	20x	as long as short
Perpl BTC	0.0000%	43m	86,549.5	+0.106%	$424K	$23.8M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,496.1	+0.044%	$921.0M	$1.48B	50x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,481.1	+0.027%	$851.1M	$711.5M	125x	as long as short
dYdX BTC-USD	+0.0004%	1h	86,541	+0.096%	$17.0M	$21.1M	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	86,505	+0.054%	$36.8M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,497.3	+0.045%	$8.5M	$43.0M	25x	as long as short
Reya BTCRUSDPERP	+0.0023%	1h	86,472.8	+0.017%	$6.7M	$145.0M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.117%	$315K	$26.8M	52x	as long as short
BingX BTC-USDC	+0.0035%	8h	86,458.2	0.000%	—	$15.3M	—	as long as short
Phemex BTCUSDT	+0.0035%	8h	86,460.9	+0.003%	$149.7M	$476.9M	150x	as long as short
Bitget BTCUSDT	+0.0045%	8h	86,464.6	+0.008%	$2.95B	$5.10B	150x	as long as short
MEXC BTC_USDT	+0.0063%	8h	86,462.5	+0.005%	$5.14B	$5.69B	500x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,462.5	+0.005%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0064%	8h	86,466.4	+0.010%	$9.43B	$24.42B	150x	as long as short
Gate BTC_USDT	+0.0079%	8h	86,465	+0.008%	$5.84B	$10.73B	200x	as long as short
Hibachi BTC/USDT-P	+0.0088%	1h	86,561.8	+0.120%	$717K	$8.2M	30x	as long as short
Bybit BTCUSDT	+0.0091%	8h	86,476.2	+0.021%	$5.25B	$9.77B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,472.8	+0.017%	$170.8M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,486.8	+0.033%	$24.1M	$152.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,489	+0.036%	$8.5M	$52.4M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,473	+0.017%	$204K	$6.9M	50x	as long as short
Paradex BTC-USD-PERPshort	+0.0100%	8h	86,549.3	+0.106%	$4.8M	$8.5M	50x
Nado BTC-PERP	+0.0100%	1h	86,492.8	+0.040%	$22.0M	$234.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,534	+0.088%	$3.80B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,531.2	+0.085%	$40.8M	$513.3M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,478.2	+0.023%	$2.54B	$12.74B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,504	+0.053%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,565	+0.124%	$7.4M	$94.3M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,498.7	+0.047%	$571.7M	$18.6M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,452.3	−0.007%	$37.8M	$155.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,498.8	+0.047%	$156.2M	$568.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,398.5	−0.069%	$279.2M	$947.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,484.6	+0.031%	$217.1M	$175.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,464.3	+0.007%	$141.4M	$323.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,483.3	+0.029%	$30.7M	$203.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,542.9	+0.098%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,483	+0.029%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,489	+0.036%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,472.8	+0.017%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,460.8	+0.003%	$30.2M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,491.9	+0.039%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USDlong	+0.0100%	1h	86,458	long leg	$60.4M	$337.2M	40x
HTX BTC-USDT	+0.0100%	8h	86,486.9	+0.033%	$2.30B	$968.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,440.6	−0.020%	$45.4M	$226.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,514.4	+0.065%	—	$98.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,496.7	+0.045%	$131.9M	$5.70B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,481	+0.027%	$191.3M	$944.1M	100x	as long as short
BloFin BTC-USDT	+0.0183%	8h	86,513.9	+0.065%	$415.8M	$654.8M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0185% / S −0.0210%	1h	86,498.4	+0.047%	$15.2M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0198%	8h	86,519	+0.071%	$9.7M	$734.0M	6.4x	as long as short