Funding arb · Price arb /

CC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h +0.001%

Price spread now: Backpack against Paradex+0.052%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Backpack is 0.052% dearer against Paradex than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CC-USD-PERP	0.1171	0.0075	pay 0.0075% / 8h	3h 00m	$1K	—	5x
Short	Backpack CC_USDC_PERP	0.1172	0.0100	get 0.0013% / 1h	0m 52s	$15K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack 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 BackpackbpOrdersPrice spread, now +0.052%Rate

Funding earned: $5.26
Price spread: +0.052% → 0.000%: $5.25
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$3.49
Costs to cover: 0.140%
Break-even: 11.7 days

Slippage unknown: Paradex: no order-book sample; Backpack: no order-book sample. Net counts fees only.

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 no order-book sample	—	—	—	—	—
Sell Backpack no order-book sample	—	—	—	—	—

Paradex and Backpack: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CC on 19 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
Bybit CCUSDT	−0.0473%	4h	0.1172	+0.061%	$10.7M	$3.8M	25x	as long as short
MEXC CC_USDT	−0.0448%	4h	0.1171	+0.027%	$1.7M	$333K	100x	as long as short
Injective CC/USDC PERP	+0.0033%	1h	0.1180	+0.761%	$402	$3K	5.5x	as long as short
Paradex CC-USD-PERPlong	+0.0075%	8h	0.1171	long leg	$1K	—	5x
Aster CCUSDT	+0.0100%	4h	0.1172	+0.114%	$35K	$32K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1172	+0.054%	$11.0M	$11.8M	75x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1172	+0.044%	$2.5M	$3.1M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1172	+0.061%	$364K	$210K	50x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1173	+0.172%	$483K	$104K	50x	as long as short
Bitget CCUSDT	+0.0100%	4h	0.1173	+0.129%	$918K	$769K	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CC-USDT	+0.0100%	4h	0.1172	+0.070%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERPshort	+0.0100%	1h	0.1172	+0.052%	$15K	$22K	10x
Variational Omni CC	+0.0100%	4h	0.1172	+0.065%	$597K	$56K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1173	+0.124%	$84K	$2.6M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1170	−0.052%	$6K	$33K	6.7x	as long as short
Hyperliquid CC	+0.0228%	1h	0.1175	+0.300%	$5.5M	$1.3M	3x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1170	−0.101%	$593K	$98K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]	L +0.0449% / S −0.0241%	1h	0.1172	+0.115%	$44K	—	50x	as long as short
Lighter CC	+0.0816%	1h	0.1178	+0.556%	$252K	$169K	5x	as long as short