Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: Paradex against HTX+0.128%7-day average +0.044% · 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−$10as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on HTX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.045%+$4 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.128%, 7d avg +0.044%

Together, before fees−0.013%+ Points / potential airdropParadex: Active · farm board−$1 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 0.085% dearer against HTX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BTC-USDT	85,126	0.0100	pay 0.0100% / 8h	2h 30m	$2.25B	$947.6M	200x
Short	Paradex BTC-USD-PERP	85,235.2	0.0100	get 0.0100% / 8h	2h 30m	$5.8M	$9.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against HTX. 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 HTXbpFee ParadexbpOrdersPrice spread, now +0.128%Rate

Funding earned: −$0.01
Price spread: +0.128% → +0.044%: $8.45
Slippage, 4 orders: −$2.73
Fee HTX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$10.29
Costs to cover: 0.187%
Break-even: never at this rate

Slippage from HTX: 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 HTX live order book, 3 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	7.2 bp −$719	9.9 bp −$4,942
Sell Paradex live order book, 3 min ago	1.36 bp	3.4 bp −$3	3.4 bp −$34	163.5 bp −$16.4K	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	85,171.5	+0.053%	$525K	$18.6M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,177	+0.060%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,161	+0.041%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0053%	8h	85,158	+0.038%	$921.3M	$763.3M	125x	as long as short
BloFin BTC-USDT	−0.0035%	8h	85,135.4	+0.011%	$420.5M	$678.3M	150x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	85,184.7	+0.069%	$373K	$2.3M	50x	as long as short
Aster BTCUSDT	−0.0015%	8h	85,156.7	+0.036%	$511.9M	$1.09B	200x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,176.4	+0.059%	$16.7M	$21.7M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,143.9	+0.021%	$36.4M	—	200x	as long as short
Nado BTC-PERP	+0.0022%	1h	85,152	+0.030%	$24.7M	$222.9M	50x	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	+0.0023%	1h	85,225	+0.116%	$338K	$26.8M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,149.9	+0.028%	$186.9M	$955.2M	100x	as long as short
BingX BTC-USDT	+0.0066%	8h	85,168.3	+0.050%	—	$1.56B	—	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,127.8	+0.002%	$2.4M	$6.7M	20x	as long as short
Phemex BTCUSDT	+0.0080%	8h	85,143.9	+0.021%	$148.6M	$504.3M	150x	as long as short
Bullet BTC-USD	+0.0082%	1h	85,132.8	+0.008%	$207K	$3.3M	20x	as long as short
MEXC BTC_USDT	+0.0084%	8h	85,166.7	+0.048%	$5.05B	$5.71B	500x	as long as short
Bitget BTCUSDT	+0.0084%	8h	85,166.9	+0.048%	$2.95B	$5.17B	150x	as long as short
SoDEX BTC-USD	+0.0084%	1h	85,132	+0.007%	$59.6M	$335.8M	40x	as long as short
Binance BTCUSDT	+0.0085%	8h	85,176.2	+0.059%	$9.41B	$24.82B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,178.3	+0.061%	$171.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,181.7	+0.065%	$23.7M	$148.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,176	+0.059%	$8.3M	$55.7M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,172	+0.054%	$116.8M	$5.34B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,151	+0.029%	$239K	$8.6M	50x	as long as short
Paradex BTC-USD-PERPshort	+0.0100%	8h	85,235.2	+0.128%	$5.8M	$9.6M	50x
Hyperliquid BTC	+0.0100%	1h	85,254	+0.150%	$3.74B	$5.07B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,197.7	+0.084%	$40.1M	$595.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,163.7	+0.044%	$5.15B	$9.93B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,169.4	+0.051%	$2.58B	$12.17B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,155	+0.034%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,173.3	+0.056%	$4.6M	$99.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,183.8	+0.068%	$678.4M	$603.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,169.8	+0.051%	$5.49B	$10.93B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,131.3	+0.006%	$35.9M	$174.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,111.9	−0.017%	$154.3M	$569.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,133.5	+0.009%	$278.8M	$944.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,147	+0.025%	$214.0M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,125.3	−0.001%	$139.1M	$315.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,149.5	+0.028%	$30.0M	$205.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,215.7	+0.105%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,140	+0.016%	$11.0M	$14.4M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,136.2	+0.012%	$2.5M	$9.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,176	+0.059%	$217K	$749K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,110.1	−0.019%	$29.9M	$49.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,147.9	+0.026%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDTlong	+0.0100%	8h	85,126	long leg	$2.25B	$947.6M	200x
Extended BTC-USD	+0.0104%	1h	85,134	+0.009%	$45.3M	$238.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,145.1	+0.022%	—	$106.8M	500x	as long as short
Reya BTCRUSDPERP	+0.0114%	1h	85,133.8	+0.009%	$6.6M	$147.4M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0131%	1h	85,168.3	+0.050%	$872.3M	$1.61B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,139.1	+0.015%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0180%	8h	85,169	+0.051%	$11.3M	$744.7M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0212%	1h	85,242.8	+0.137%	$79K	$225K	20x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	85,227.6	+0.119%	$717K	$8.0M	30x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,197.9	+0.084%	$8.6M	$43.1M	25x	as long as short