Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.012%

Price spread now: Paradex against ApeX Omni−0.071%7-day average +0.002% · 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−$24as in the Price arb table

costs, in and out, $10k−$170.166% of the position

Long on ApeX Omni Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.014%+$1 on $10k

Price spread, last 7 days+0.126%+$13 · spread now −0.071%, 7d avg +0.002%

Together, before fees+0.139%+ Points / potential airdropParadex: Active · farm board+$14 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% cheaper against ApeX Omni than usual: you would sell low and buy high, −$7 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	ApeX Omni BTCUSDT	86,662	0.0100	pay 0.0013% / 1h	41m 37s	$141.6M	$323.3M	100x
Short	Paradex BTC-USD-PERP	86,600.3	0.0100	get 0.0100% / 8h	41m 37s	$4.8M	$8.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against ApeX Omni. 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 ApeX OmnibpFee ParadexbpOrdersPrice spread, now −0.071%Rate

Funding earned: −$0.03
Price spread: −0.071% → +0.002%: −$7.28
Slippage, 4 orders: −$2.62
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$23.93
Costs to cover: 0.166%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 3 min ago; Paradex: live order book, 3 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 ApeX Omni live order book, 3 min ago	0.35 bp	5.3 bp −$5	5.5 bp −$55	10.0 bp −$999	38.8 bp −$19.4K
Sell Paradex live order book, 3 min ago	0.95 bp	3.0 bp −$3	3.0 bp −$30	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
Phoenix BTC	−0.0118%	1h	86,580	−0.095%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,586	−0.088%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,568	−0.108%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,610.4	−0.060%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	86,610.1	−0.060%	$361K	$2.5M	50x	as long as short
Aster BTCUSDT	0.0000%	8h	86,603.2	−0.068%	$502.3M	$1.15B	200x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,597.6	−0.074%	$916.4M	$1.49B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,585.7	−0.088%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0013%	8h	86,565.4	−0.111%	$850.9M	$715.1M	125x	as long as short
dYdX BTC-USD	+0.0025%	1h	86,584.4	−0.090%	$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
Reya BTCRUSDPERP	+0.0027%	1h	86,572.2	−0.104%	$6.7M	$145.4M	40x	as long as short
BingX BTC-USDT	+0.0042%	8h	86,599.6	−0.072%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0042%	8h	86,578.5	−0.096%	$150.4M	$479.5M	150x	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,596.8	−0.075%	$2.96B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0072%	8h	86,571.9	−0.104%	$5.15B	$5.64B	500x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,565.1	−0.112%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0073%	8h	86,600	−0.072%	$9.44B	$24.57B	150x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,598.5	−0.073%	$5.88B	$10.74B	200x	as long as short
SoDEX BTC-USD	+0.0093%	1h	86,564	−0.113%	$60.5M	$337.7M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,581	−0.093%	$170.5M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,592.6	−0.080%	$24.1M	$151.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,600	−0.072%	$8.5M	$52.6M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,577	−0.098%	$200K	$7.0M	50x	as long as short
Paradex BTC-USD-PERPshort	+0.0100%	8h	86,600.3	−0.071%	$4.8M	$8.5M	50x
Nado BTC-PERP	+0.0100%	1h	86,564.4	−0.113%	$21.8M	$234.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,641	−0.024%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,605.2	−0.066%	$40.8M	$524.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,596.7	−0.075%	$5.27B	$9.82B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,611.3	−0.058%	$2.55B	$12.77B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,582	−0.092%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,631.4	−0.035%	$7.6M	$95.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,560.7	−0.117%	$572.5M	$17.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,561.4	−0.116%	$38.4M	$156.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,628.8	−0.038%	$157.3M	$569.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,643	−0.022%	$279.9M	$948.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,607.5	−0.063%	$217.5M	$171.6M	50x	as long as short
ApeX Omni BTCUSDTlong	+0.0100%	1h	86,662	long leg	$141.6M	$323.3M	100x
StandX BTC-USD	+0.0100%	1h	86,596.7	−0.075%	$30.7M	$204.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,628.4	−0.039%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,574	−0.102%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,570	−0.106%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,569.6	−0.107%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,596.3	−0.076%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,595.8	−0.076%	$30.6M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,626	−0.042%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,566.1	−0.111%	$2.30B	$970.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,584.3	−0.090%	$45.5M	$227.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,584.2	−0.090%	—	$98.9M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,588.1	−0.085%	$193.5M	$951.7M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,586.8	−0.087%	$418K	$23.2M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,600.9	−0.070%	$132.7M	$5.68B	50x	as long as short
Aftermath Perps BTCUSD	+0.0119%	1h	86,610.6	−0.059%	$79K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,688.4	+0.031%	$729K	$8.1M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0193% / S −0.0216%	1h	86,579.7	−0.095%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0193%	8h	86,567.3	−0.109%	$413.7M	$658.7M	150x	as long as short
Kalshi KXBTCPERP	+0.0209%	8h	86,606	−0.065%	$9.7M	$743.6M	6.4x	as long as short