Funding you earn now, next payment 08:00 UTC+0.0020%/8h= +2.1% APRnext payment +$0.20 per $10,000 · paid last 24h +0.016%
Price spread now: Paradex against Phemex+0.054%7-day average +0.030% · 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−$16as in the Price arb table
costs, in and out, $10k−$180.180% of the position
Funding, last 4 days (all we have)+0.049%+$5 on $10k
+Price spread, last 4 days (all we have)−0.001%$0 · spread now +0.054%, 7d avg +0.030%
=Together, before fees+0.048%+ Points / potential airdropParadex: Active · farm board+$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Paradex is 0.024% dearer against Phemex than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.030%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex BTCUSDT | 85,496 | 0.0080 | pay 0.0080% / 8h | 2h 03m | $148.9M | $507.0M | 150x |
| Short | Paradex BTC-USD-PERP | 85,542.4 | 0.0100 | get 0.0100% / 8h | 2h 03m | $5.8M | $9.6M | 50x |
Phemex BTCUSDT
Paradex BTC-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paradex against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $4.1
- Price spread: +0.054% → +0.030%
- $2.39
- Slippage, 4 orders
- −$1.99
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Paradex: 2 bp × 2 orders
- −$4
- Net
- −$11.5
- Costs to cover
- 0.180%
- Break-even
- 26.6 days
Slippage from Phemex: live order book, 6 min ago; Paradex: live order book, 1 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 Phemex live order book, 6 min ago | 0.01 bp | 6.0 bp −$6 | 6.2 bp −$62 | 7.5 bp −$746 | doesn't fit |
| Sell Paradex live order book, 1 min ago | 0.99 bp | 3.0 bp −$3 | 3.0 bp −$30 | 180.1 bp −$18.0K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0112% | 43m | 85,494.2 | −0.002% | $528K | $18.3M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,577 | +0.095% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,524 | +0.033% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0051% | 8h | 85,477 | −0.022% | $928.8M | $771.9M | 125x | as long as short |
| BloFin BTC-USDT | −0.0023% | 8h | 85,517.3 | +0.025% | $417.9M | $684.0M | 150x | as long as short |
| Aster BTCUSDT | −0.0007% | 8h | 85,482.7 | −0.016% | $514.1M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,500.7 | +0.005% | $354K | $2.4M | 50x | as long as short |
| dYdX BTC-USD | +0.0002% | 1h | 85,535.9 | +0.047% | $16.8M | $21.4M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,515.3 | +0.023% | $36.5M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,349 | −0.172% | $339K | $26.8M | 52x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit BTC-PERPETUAL | +0.0035% | 1h | 85,528.6 | +0.038% | $869.0M | $1.62B | 50x | as long as short |
| Nado BTC-PERP | +0.0042% | 1h | 85,479.1 | −0.020% | $24.7M | $222.6M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,502.4 | +0.007% | $188.4M | $953.9M | 100x | as long as short |
| BingX BTC-USDT | +0.0069% | 8h | 85,492.3 | −0.004% | — | $1.56B | — | as long as short |
| Phemex BTCUSDTlong | +0.0080% | 8h | 85,496 | long leg | $148.9M | $507.0M | 150x | |
| Bitget BTCUSDT | +0.0087% | 8h | 85,483.4 | −0.015% | $2.96B | $5.18B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,501 | +0.006% | $171.3M | $1.03B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,507.1 | +0.013% | $23.7M | $149.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,489 | −0.008% | $8.4M | $55.9M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,495.3 | −0.001% | $2.4M | $6.7M | 20x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,527.6 | +0.037% | $117.2M | $5.45B | 50x | as long as short |
| MEXC BTC_USDT | +0.0097% | 8h | 85,480.9 | −0.018% | $5.00B | $5.77B | 500x | as long as short |
| Binance BTCUSDT | +0.0097% | 8h | 85,488.7 | −0.009% | $9.45B | $24.92B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,466 | −0.035% | $236K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERPshort | +0.0100% | 8h | 85,542.4 | +0.054% | $5.8M | $9.6M | 50x | |
| Hyperliquid BTC | +0.0100% | 1h | 85,570 | +0.087% | $3.76B | $5.09B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,521.4 | +0.030% | $40.0M | $598.7M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,483.2 | −0.015% | $5.15B | $9.98B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,498.5 | +0.003% | $2.59B | $12.26B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,494 | −0.002% | $3.8M | $17.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,492.3 | −0.004% | $4.6M | $98.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,501.7 | +0.007% | $682.6M | $531.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,490.9 | −0.006% | $5.51B | $11.10B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,481.8 | −0.017% | $36.6M | $178.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,535.9 | +0.047% | $155.0M | $560.6M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,528.5 | +0.038% | $280.1M | $953.5M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,535.3 | +0.046% | $214.9M | $167.4M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,528 | +0.037% | $139.8M | $314.5M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,537.1 | +0.048% | $30.2M | $207.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,554.2 | +0.068% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,490 | −0.007% | $11.0M | $14.5M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,505 | +0.011% | $204K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,517.2 | +0.025% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,537.3 | +0.048% | $194K | $795K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,485 | −0.013% | $30.0M | $48.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,479.1 | −0.020% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,490 | −0.007% | $59.8M | $336.3M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,493.1 | −0.003% | $2.26B | $942.4M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,464.4 | −0.037% | $44.5M | $240.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,526.6 | +0.036% | — | $106.8M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0120% | 1h | 85,481.1 | −0.017% | $6.6M | $147.6M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,513.5 | +0.020% | $13.1M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0211% | 8h | 85,533 | +0.043% | $11.4M | $743.6M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0233% | 1h | 85,552.4 | +0.066% | $79K | $228K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,546.4 | +0.059% | $694K | $8.0M | 30x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,511.1 | +0.018% | $8.8M | $43.2M | 25x | as long as short |
Deribit BTC-PERPETUAL
Nado BTC-PERP
Kraken Futures PF_XBTUSD
BingX BTC-USDT
Bitget BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Coinbase International BTC-PERP-INTX
MEXC BTC_USDT
Binance BTCUSDT
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
RISEx BTC/USDC