Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Paradex against Vest−0.023%7-day average +0.002% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Vest Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.034%+$3 on $10k

Price spread, last 7 days+0.014%+$1 · spread now −0.023%, 7d avg +0.002%

Together, before fees+0.048%+ Points / potential airdropVest: Active · Paradex: Active · farm board+$5 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 0.025% cheaper against Vest than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest BTC-PERP	85,491.1	0.0100	pay 0.0013% / 1h	13m 59s	—	$10.9M	50x
Short	Paradex BTC-USD-PERP	85,471.4	0.0100	get 0.0100% / 8h	2h 13m	$5.8M	$9.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpFee ParadexbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$0.01
Price spread: −0.023% → +0.002%: −$2.51
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$8.52
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Paradex: live order book, just now. Net counts fees only.

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 Vest no order-book sample	—	—	—	—	—
Sell Paradex live order book, just now	0.05 bp	2.0 bp −$2	2.0 bp −$20	180.4 bp −$18.0K	doesn't fit

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Perpl BTC	−0.0112%	43m	85,452	−0.046%	$526K	$18.3M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,391	−0.117%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,411	−0.094%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0053%	8h	85,448.4	−0.050%	$923.5M	$765.5M	125x	as long as short
BloFin BTC-USDT	−0.0029%	8h	85,388.6	−0.120%	$419.8M	$682.0M	150x	as long as short
Aster BTCUSDT	−0.0011%	8h	85,450	−0.048%	$513.4M	$1.09B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	85,454.4	−0.043%	$355K	$2.4M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,386.9	−0.122%	$16.7M	$21.4M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,455.7	−0.041%	$36.5M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	85,349	−0.166%	$339K	$26.8M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0041%	1h	85,393.5	−0.114%	$24.8M	$222.6M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,481.8	−0.011%	$187.6M	$955.1M	100x	as long as short
BingX BTC-USDT	+0.0069%	8h	85,458.4	−0.038%	—	$1.56B	—	as long as short
Phemex BTCUSDT	+0.0075%	8h	85,455.2	−0.042%	$148.0M	$505.5M	150x	as long as short
Bitget BTCUSDT	+0.0086%	8h	85,464	−0.032%	$2.96B	$5.17B	150x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,451.3	−0.047%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0090%	8h	85,475.1	−0.019%	$5.03B	$5.75B	500x	as long as short
Binance BTCUSDT	+0.0091%	8h	85,469.5	−0.025%	$9.45B	$24.87B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,469.9	−0.025%	$171.1M	$1.03B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,475	−0.019%	$23.7M	$148.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,440	−0.060%	$8.4M	$55.8M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,497.2	+0.007%	$117.2M	$5.42B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,407	−0.098%	$239K	$8.6M	50x	as long as short
Paradex BTC-USD-PERPshort	+0.0100%	8h	85,471.4	−0.023%	$5.8M	$9.6M	50x
Hyperliquid BTC	+0.0100%	1h	85,538	+0.055%	$3.76B	$5.07B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,429.6	−0.072%	$40.0M	$597.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,458.6	−0.038%	$5.15B	$9.95B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,475.8	−0.018%	$2.59B	$12.22B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,407	−0.098%	$3.8M	$17.5M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,433.1	−0.068%	$4.6M	$98.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,163.7	−0.383%	$678.5M	$565.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,453.1	−0.044%	$5.50B	$11.04B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,454.3	−0.043%	$36.4M	$176.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,365.9	−0.147%	$154.5M	$559.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,351.5	−0.163%	$279.6M	$950.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,345.8	−0.170%	$214.4M	$167.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,371.5	−0.140%	$139.6M	$314.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,379.9	−0.130%	$30.1M	$207.9M	40x	as long as short
Vest BTC-PERPlong	+0.0100%	1h	85,491.1	long leg	—	$10.9M	50x
Polymarket Perps BTC-USD	+0.0100%	1h	85,432	−0.069%	$11.0M	$14.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,454	−0.043%	$205K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,458.9	−0.038%	$2.6M	$9.6M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,511	+0.023%	$228K	$760K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,433.2	−0.068%	$30.0M	$48.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,387.5	−0.121%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,460	−0.036%	$59.8M	$336.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,442.1	−0.057%	$2.26B	$941.7M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,436.7	−0.064%	$44.4M	$240.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,458.9	−0.038%	—	$106.9M	500x	as long as short
Reya BTCRUSDPERP	+0.0118%	1h	85,431.2	−0.070%	$6.6M	$147.5M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,450.2	−0.048%	$13.0M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0193%	1h	85,503.4	+0.014%	$866.9M	$1.61B	50x	as long as short
Kalshi KXBTCPERP	+0.0198%	8h	85,430	−0.072%	$11.6M	$743.3M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0220%	1h	85,343.7	−0.172%	$79K	$227K	20x	as long as short
Hibachi BTC/USDT-P	+0.0232%	1h	85,419.4	−0.084%	$689K	$8.0M	30x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,449	−0.049%	$8.7M	$43.3M	25x	as long as short