Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0147%/8h= +16.1% APRpaid last 24h +0.035%

Price spread now: Paradex against 01 Exchange+0.053%7-day average +0.012% · 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−$11as in the Price arb table

costs, in and out, $10k−$150.147% of the position

Long on 01 Exchange Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.106%+$11 on $10k

Price spread, last 7 days−0.070%−$7 · spread now +0.053%, 7d avg +0.012%

Together, before fees+0.035%+ Points / potential airdropParadex: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Paradex is 0.041% dearer against 01 Exchange than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,548.7	−0.0048	get 0.0006% / 1h	39m 38s	$369K	$2.3M	50x
Short	Paradex BTC-USD-PERP	85,594.3	0.0099	get 0.0099% / 8h	5h 39m	$3.8M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against 01 Exchange. 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 01 ExchangebpFee ParadexbpOrdersPrice spread, now +0.053%Rate

Funding earned: $30.96
Price spread: +0.053% → +0.012%: $4.12
Slippage, 4 orders: −$3.69
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: $20.39
Costs to cover: 0.147%
Break-even: 2.4 days

Slippage from 01 Exchange: live order book, 5 min ago; Paradex: 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 01 Exchange live order book, 5 min ago	0.01 bp	4.9 bp −$5	9.6 bp −$96	doesn't fit	doesn't fit
Sell Paradex live order book, 5 min ago	0.85 bp	2.9 bp −$3	2.9 bp −$29	188.4 bp −$18.8K	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
Phoenix BTC	−0.0160%	1h	85,485	−0.074%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,598	+0.058%	$8K	$3K	50x	as long as short
01 Exchange BTCUSDlong	−0.0048%	1h	85,548.7	long leg	$369K	$2.3M	50x
BloFin BTC-USDT	−0.0033%	8h	85,512.5	−0.042%	$414.8M	$661.8M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,596	+0.055%	$16.7M	$20.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,600.9	+0.061%	$36.7M	—	200x	as long as short
Nado BTC-PERP	+0.0009%	1h	85,591.1	+0.050%	$22.8M	$221.7M	50x	as long as short
KuCoin XBTUSDTM	+0.0012%	8h	85,536.7	−0.014%	$918.0M	$753.2M	125x	as long as short
Aster BTCUSDT	+0.0019%	8h	85,570.4	+0.025%	$515.6M	$1.11B	200x	as long as short
BingX BTC-USDC	+0.0054%	8h	85,547.8	−0.001%	—	$17.1M	—	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0067%	1h	85,576	+0.032%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0067%	8h	85,546.6	−0.002%	$2.95B	$5.02B	150x	as long as short
HTX BTC-USDT	+0.0069%	8h	85,563.7	+0.018%	$2.27B	$932.5M	200x	as long as short
Phemex BTCUSDT	+0.0077%	8h	85,578.4	+0.035%	$148.3M	$478.5M	150x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,617	+0.080%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,579.1	+0.036%	$2.5M	$1.7M	20x	as long as short
SunX BTC-USDT	+0.0083%	8h	85,551.4	+0.003%	$2.9M	$6.1M	100x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,556.3	+0.009%	$9.32B	$23.91B	150x	as long as short
MEXC BTC_USDT	+0.0087%	8h	85,548.4	0.000%	$5.04B	$5.61B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,562	+0.016%	$169.7M	$987.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,579.9	+0.036%	$23.9M	$148.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,547	−0.002%	$8.4M	$51.9M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0098%	1h	85,617.9	+0.081%	$893.1M	$1.52B	50x	as long as short
Paradex BTC-USD-PERPshort	+0.0099%	8h	85,594.3	+0.053%	$3.8M	$8.3M	50x
Katana Perps BTC-USD	+0.0100%	8h	85,525	−0.028%	$203K	$7.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,641	+0.108%	$3.77B	$4.93B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,589.5	+0.048%	$40.5M	$573.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,553.7	+0.006%	$5.33B	$9.58B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,557.8	+0.011%	$2.56B	$12.11B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,534	−0.017%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,515.2	−0.039%	$7.2M	$97.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,562.7	+0.016%	$616.1M	$358.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,555.2	+0.008%	$5.55B	$10.47B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,571.6	+0.027%	$35.1M	$171.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,503.7	−0.053%	$154.4M	$549.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,550.1	+0.002%	$278.9M	$928.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,591.1	+0.050%	$214.8M	$164.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,603.5	+0.064%	$140.0M	$316.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,631	+0.096%	$30.3M	$211.0M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,632.7	+0.098%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,572	+0.027%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,591.9	+0.050%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,586.9	+0.045%	$2.3M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,631.8	+0.097%	$197K	$721K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,587.6	+0.046%	$30.0M	$52.5M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,587	+0.045%	$59.9M	$336.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,523	−0.030%	$44.1M	$227.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,543.4	−0.006%	—	$106.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,608.9	+0.070%	$130.6M	$5.08B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,575.2	+0.031%	$8.3M	$42.3M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,600.6	+0.061%	$187.8M	$948.4M	100x	as long as short
Aftermath Perps BTCUSD	+0.0194%	1h	85,589.4	+0.048%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,675.7	+0.148%	$704K	$7.9M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0180%	1h	85,592	+0.051%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,614	+0.076%	$10.5M	$760.1M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,585	+0.042%	$522K	$19.5M	6.7x	as long as short