Settings8H · net · $10k
Funding arb · Price arb /

BTC

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment $0.00 per $10,000 · paid last 24h −0.001%
Price spread now: Paradex against SunX+0.065%7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costsunder 7 days of funding history
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$160.165% of the position
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)+0.064%+$6 · spread now +0.065%, 7d avg +0.037%
Together, before fees+0.070%+ Points / potential airdropParadex: Active · farm board+$7 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 0.027% dearer against SunX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.037%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX BTC-USDT86,612.90.0100pay 0.0100% / 8h2h 31m$3.4M$5.5M100x
ShortParadex BTC-USD-PERP86,668.90.0100get 0.0100% / 8h2h 31m$4.8M$8.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Paradex against SunX. 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

Funding earned
−$0.04
Price spread: +0.065% → +0.037%
$2.75
Slippage, 4 orders
−$4.47
Fee SunX: 4 bp × 2 orders
−$8
Fee Paradex: 2 bp × 2 orders
−$4
Net
−$13.76
Costs to cover
0.165%
Break-even
never at this rate
Slippage from SunX: live order book, 7 min ago; Paradex: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy SunX live order book, 7 min ago0.74 bp4.7 bp −$55.3 bp −$537.5 bp −$74610.4 bp −$5,203
Sell Paradex live order book, 2 min ago1.10 bp3.1 bp −$33.1 bp −$31doesn't fitdoesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps BTCUSD−0.0231%1h86,605.4−0.009%$85K$188K20xas long as short
Perpl BTC−0.0223%43m86,642.5+0.034%$428K$24.9M6.7xas long as short
Phoenix BTC−0.0103%1h86,539−0.085%$2.2M$12.4M40xas long as short
dYdX BTC-USD−0.0082%1h86,671.7+0.068%$17.6M$20.5M50xas long as short
Hotstuff BTC-PERP−0.0080%1h86,605−0.009%$9K$3K50xas long as short
01 Exchange BTCUSD0.0000%1h86,631.7+0.022%$363K$2.4M50xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,617.7+0.005%$935.3M$1.44B50xas long as short
KuCoin XBTUSDTM+0.0002%8h86,564−0.056%$843.7M$704.9M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h86,627.1+0.016%$37.0M200xas long as short
Aster BTCUSDT+0.0009%8h86,570.4−0.049%$505.5M$1.16B200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0021%1h86,600.1−0.015%$6.7M$144.3M40xas long as short
BingX BTC-USDT+0.0023%8h86,581.9−0.036%$1.59Bas long as short
Phemex BTCUSDT+0.0024%8h86,580.2−0.038%$149.6M$471.4M150xas long as short
Bitget BTCUSDT+0.0030%8h86,577.1−0.041%$2.94B$5.07B150xas long as short
Aevo BTC-PERP+0.0048%1h86,588.3−0.028%$2.4M$1.3M20xas long as short
Injective BTC/USDC PERP+0.0049%1h86,639+0.030%$315K$26.8M52xas long as short
MEXC BTC_USDT+0.0052%8h86,578−0.040%$5.19B$5.67B500xas long as short
Binance BTCUSDT+0.0053%8h86,577.9−0.040%$9.43B$24.31B150xas long as short
RISEx BTC/USDC+0.0063%1h86,614.2+0.002%$9.2M$42.0M25xas long as short
OKX BTC-USDT-SWAP+0.0072%8h86,583.7−0.034%$2.56B$12.70B100xas long as short
Gate BTC_USDT+0.0074%8h86,583.8−0.034%$5.85B$10.63B200xas long as short
Bybit BTCUSDT+0.0082%8h86,576−0.043%$5.27B$9.67B150xas long as short
Variational Omni BTC+0.0092%8h86,584.3−0.033%$160.0M$567.1Mas long as short
Lighter BTC+0.0096%1h86,598.2−0.017%$172.0M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,599.3−0.016%$24.0M$153.5M50xas long as short
Popdex BTCUSDT+0.0096%1h86,605−0.009%$8.5M$52.2M100xas long as short
Katana Perps BTC-USD+0.0100%8h86,597−0.018%$194K$6.8M50xas long as short
Paradex BTC-USD-PERPshort+0.0100%8h86,668.9+0.065%$4.8M$8.2M50x
Nado BTC-PERP+0.0100%1h86,614.2+0.001%$21.7M$235.4M50xas long as short
Hyperliquid BTC+0.0100%1h86,655.4+0.049%$3.82B$5.12B40xas long as short
Pacifica BTC+0.0100%1h86,646.1+0.038%$41.3M$490.3M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,614+0.001%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,676.4+0.073%$7.5M$93.6M40xas long as short
Bulk BTC-USD+0.0100%1h86,606.9−0.007%$571.9M$22.8M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,583.6−0.034%$38.1M$148.4M75xas long as short
edgeX BTCUSDC+0.0100%4h86,587.1−0.030%$279.7M$950.3M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,619.4+0.008%$217.4M$187.8M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,686.6+0.085%$141.7M$322.9M100xas long as short
StandX BTC-USD+0.0100%1h86,614.3+0.002%$30.8M$205.5M40xas long as short
Vest BTC-PERP+0.0100%1h86,667.4+0.063%$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,607−0.007%$11.1M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,608.2−0.005%$195K$3.4M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,602.8−0.012%$2.5M$8.5M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,614.4+0.002%$140K$619K40xas long as short
Derive BTC-PERP+0.0100%1h86,593.5−0.022%$30.0M$61.6M15xas long as short
SunX BTC-USDTlong+0.0100%8h86,612.9long leg$3.4M$5.5M100x
SoDEX BTC-USD+0.0100%1h86,585−0.032%$60.4M$336.4M40xas long as short
HTX BTC-USDT+0.0100%8h86,609−0.005%$2.30B$957.3M200xas long as short
Extended BTC-USD+0.0104%1h86,569.5−0.050%$46.4M$227.9M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,625.9+0.015%$98.4M500xas long as short
Kraken Futures PF_XBTUSD+0.0117%1h86,613.30.000%$188.9M$930.9M100xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,628+0.017%$131.9M$5.86B50xas long as short
Kalshi KXBTCPERP+0.0124%8h86,637+0.028%$8.8M$723.5M6.4xas long as short
BloFin BTC-USDT+0.0173%8h86,611.4−0.002%$416.8M$652.9M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0178% / S −0.0185%1h86,619.3+0.007%$14.9M200xas long as short
Hibachi BTC/USDT-P+0.0224%1h86,661.5+0.056%$614K$7.1M30xas long as short