Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0164%/8h= +17.9% APRpaid last 24h +0.033%

Price spread now: Paradex against 01 Exchange−0.029%7-day average +0.012% · 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−$18as in the Price arb table

costs, in and out, $10k−$140.142% of the position

Long on 01 Exchange Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.105%+$10 on $10k

Price spread, last 7 days+0.017%+$2 · spread now −0.029%, 7d avg +0.012%

Together, before fees+0.122%+ Points / potential airdropParadex: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Paradex is 0.041% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.029% now, against its 7-day average of +0.012%). If the spread goes back, that is −$4 on $10k: about 20 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,632.6	−0.0064	get 0.0008% / 1h	18m 58s	$365K	$2.3M	50x
Short	Paradex BTC-USD-PERP	85,607.7	0.0100	get 0.0100% / 8h	6h 18m	$3.8M	$8.4M	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 −0.029%Rate

Funding earned: $34.41
Price spread: −0.029% → +0.012%: −$4.09
Slippage, 4 orders: −$3.16
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: $16.15
Costs to cover: 0.142%
Break-even: 3.7 days

Slippage from 01 Exchange: live order book, just now; Paradex: live order book, just now.

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, just now	0.01 bp	3.9 bp −$4	8.9 bp −$89	doesn't fit	doesn't fit
Sell Paradex live order book, just now	0.74 bp	2.7 bp −$3	2.7 bp −$27	186.0 bp −$18.6K	doesn't fit

BTC on 55 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	−0.0144%	1h	85,785	+0.178%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,657	+0.028%	$8K	$3K	50x	as long as short
01 Exchange BTCUSDlong	−0.0064%	1h	85,632.6	long leg	$365K	$2.3M	50x
dYdX BTC-USD	+0.0002%	1h	85,641.5	+0.010%	$16.7M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,652.9	+0.024%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	+0.068%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0031%	8h	85,676.6	+0.051%	$901.7M	$753.7M	125x	as long as short
Aster BTCUSDT	+0.0036%	8h	85,675.7	+0.050%	$516.1M	$1.14B	200x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,659	+0.031%	$8.1M	$42.1M	25x	as long as short
Nado BTC-PERP	+0.0049%	1h	85,635.3	+0.003%	$22.6M	$227.5M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0056%	8h	85,701.4	+0.080%	—	$1.56B	—	as long as short
Reya BTCRUSDPERP	+0.0059%	1h	85,648.7	+0.019%	$6.7M	$146.3M	40x	as long as short
Bitget BTCUSDT	+0.0069%	8h	85,689.3	+0.066%	$2.95B	$5.08B	150x	as long as short
HTX BTC-USDT	+0.0070%	8h	85,643	+0.012%	$2.27B	$947.8M	200x	as long as short
ApeX Omni BTCUSDT	+0.0086%	1h	85,712.3	+0.093%	$140.1M	$318.2M	100x	as long as short
Binance BTCUSDT	+0.0092%	8h	85,694.9	+0.073%	$9.33B	$24.30B	150x	as long as short
MEXC BTC_USDT	+0.0093%	8h	85,689.9	+0.067%	$5.08B	$5.74B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,656.4	+0.028%	$170.4M	$992.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,665.9	+0.039%	$23.5M	$147.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,634	+0.002%	$8.4M	$51.8M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,643.2	+0.012%	$2.5M	$1.8M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,609	−0.028%	$202K	$7.5M	50x	as long as short
Paradex BTC-USD-PERPshort	+0.0100%	8h	85,607.7	−0.029%	$3.8M	$8.4M	50x
Hyperliquid BTC	+0.0100%	1h	85,739	+0.124%	$3.76B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,668.1	+0.041%	$40.8M	$571.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,704.4	+0.084%	$5.30B	$9.74B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,709	+0.089%	$2.54B	$12.35B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,645	+0.014%	$3.9M	$18.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,602.7	−0.035%	$7.2M	$97.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,744.8	+0.131%	$590.5M	$195.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,697.6	+0.076%	$5.60B	$10.56B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,670.1	+0.044%	$35.3M	$164.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,688	+0.065%	$156.6M	$555.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,709.8	+0.090%	$278.8M	$940.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,761.2	+0.150%	$215.2M	$166.3M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,664.6	+0.037%	$30.3M	$208.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,703.3	+0.083%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,647	+0.017%	$11.0M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,634.9	+0.003%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,644.7	+0.014%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,683	+0.059%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,650	+0.020%	$30.0M	$56.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,605.9	−0.031%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,653	+0.024%	$60.0M	$337.1M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,655.6	+0.027%	$153.6M	$480.3M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,666.9	+0.040%	$44.1M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,649.2	+0.019%	—	$101.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,685.1	+0.061%	$131.3M	$5.15B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,755.4	+0.143%	$696K	$7.8M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,678	+0.053%	$187.8M	$963.6M	100x	as long as short
Aftermath Perps BTCUSD	+0.0169%	1h	85,716.5	+0.098%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0189%	1h	85,643.3	+0.013%	$13.5M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0209%	1h	85,698.9	+0.077%	$894.6M	$1.54B	50x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,663	+0.036%	$10.2M	$770.2M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,671.5	+0.045%	$514K	$20.5M	6.7x	as long as short