Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h +0.001%

Price spread now: RISEx against Paradex−0.020%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−$14as in the Price arb table

costs, in and out, $10k−$130.127% of the position

Long on Paradex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.009%−$1 on $10k

Price spread, last 7 days+0.045%+$5 · spread now −0.020%, 7d avg −0.002%

Together, before fees+0.037%+ Points / potential airdropParadex: Active · farm board+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BTC-USD-PERP	85,291.3	0.0100	pay 0.0100% / 8h	8m 59s	$5.7M	$9.5M	50x
Short	RISEx BTC/USDC	85,274.3	0.0174	get 0.0022% / 1h	8m 59s	$8.8M	$43.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Paradex. 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 ParadexbpFee RISExbpOrdersPrice spread, now −0.020%Rate

Funding earned: $15.58
Price spread: −0.020% → −0.002%: −$1.75
Slippage, 4 orders: −$2.74
Fee Paradex: 2 bp × 2 orders: −$4
Fee RISEx: 3 bp × 2 orders: −$6
Net: $1.09
Costs to cover: 0.127%
Break-even: 6.5 days

Slippage from Paradex: live order book, just now; RISEx: 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 Paradex live order book, just now	0.01 bp	4.0 bp −$4	4.8 bp −$48	doesn't fit	doesn't fit
Sell RISEx live order book, 5 min ago	0.16 bp	3.6 bp −$4	3.6 bp −$36	11.7 bp −$1,167	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
Hotstuff BTC-PERP	−0.0080%	1h	85,267	−0.029%	$8K	$3K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,330	+0.045%	$2.3M	$10.8M	40x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,261.5	−0.035%	$421.2M	$686.7M	150x	as long as short
KuCoin XBTUSDTM	−0.0009%	8h	85,254.3	−0.043%	$927.7M	$776.8M	125x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,256.9	−0.040%	$343K	$2.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,277.5	−0.016%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0010%	8h	85,259.3	−0.038%	$509.3M	$1.09B	200x	as long as short
dYdX BTC-USD	+0.0017%	1h	85,277.8	−0.016%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,281	−0.012%	$185.6M	$953.8M	100x	as long as short
BingX BTC-USDC	+0.0065%	8h	85,244.8	−0.055%	—	$17.4M	—	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0067%	1h	85,260	−0.037%	$310K	$25.8M	52x	as long as short
Bybit BTCUSDT	+0.0083%	8h	85,257.3	−0.040%	$5.09B	$10.03B	150x	as long as short
Nado BTC-PERP	+0.0092%	1h	85,241.6	−0.058%	$24.0M	$221.5M	50x	as long as short
Lighter BTC	+0.0096%	1h	85,277.5	−0.016%	$168.9M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,277.3	−0.016%	$23.6M	$149.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,250	−0.048%	$8.4M	$57.7M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,264.2	−0.032%	$2.4M	$6.7M	20x	as long as short
ApeX Omni BTCUSDT	+0.0097%	1h	85,252.4	−0.046%	$139.7M	$311.8M	100x	as long as short
Bitget BTCUSDT	+0.0099%	8h	85,269.1	−0.026%	$2.97B	$5.21B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,227	−0.075%	$269K	$8.7M	50x	as long as short
Deribit BTC-PERPETUAL	+0.0100%	1h	85,301.3	+0.012%	$836.0M	$1.66B	50x	as long as short
Paradex BTC-USD-PERPlong	+0.0100%	8h	85,291.3	long leg	$5.7M	$9.5M	50x
Pacifica BTC	+0.0100%	1h	85,272.1	−0.023%	$40.0M	$605.4M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,257.2	−0.040%	$9.39B	$25.17B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,260	−0.037%	$2.60B	$12.26B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,279	−0.014%	$3.8M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,260.3	−0.036%	$4.6M	$97.7M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,262.4	−0.034%	$5.49B	$11.16B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,261.3	−0.035%	$5.04B	$5.77B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,263.5	−0.033%	$36.8M	$190.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,228.2	−0.074%	$155.9M	$548.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,229.3	−0.073%	$282.6M	$957.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,251.2	−0.047%	$213.9M	$159.8M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,265.4	−0.030%	$30.1M	$214.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,339.5	+0.056%	—	$10.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,269	−0.026%	$10.9M	$15.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,273	−0.022%	$197K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,277.1	−0.017%	$2.6M	$9.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,312.8	+0.025%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,296.9	+0.007%	$28.8M	$47.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,238.9	−0.061%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,265	−0.031%	$59.7M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,251.5	−0.047%	$2.25B	$974.2M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,269.5	−0.026%	$158.9M	$515.9M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,240	−0.060%	$693.3M	$214.1M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,242.7	−0.057%	$45.4M	$240.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,291.8	+0.001%	—	$106.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,309.1	+0.021%	$111.8M	$5.47B	50x	as long as short
Hyperliquid BTC	+0.0107%	1h	85,350	+0.069%	$3.78B	$5.11B	40x	as long as short
Reya BTCRUSDPERP	+0.0144%	1h	85,266.7	−0.029%	$6.6M	$142.0M	40x	as long as short
Kalshi KXBTCPERP	+0.0172%	8h	85,283	−0.010%	$12.0M	$737.8M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0146%	1h	85,272.2	−0.022%	$13.0M	—	200x	as long as short
RISEx BTC/USDCshort	+0.0174%	1h	85,274.3	−0.020%	$8.8M	$43.0M	25x
Hibachi BTC/USDT-P	+0.0280%	1h	85,315.7	+0.029%	$696K	$7.7M	30x	as long as short
Aftermath Perps BTCUSD	+0.0296%	1h	85,269.7	−0.025%	$79K	$246K	20x	as long as short
Perpl BTC	+0.0447%	43m	85,263.6	−0.033%	$464K	$18.3M	6.7x	as long as short