Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.007%

Price spread now: Aevo against Paradex−0.084%7-day average −0.045% · 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−$31as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on Paradex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.021%−$2 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.084%, 7d avg −0.045%

Together, before fees+0.011%+ Points / potential airdropParadex: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aevo is 0.039% cheaper against Paradex than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.045%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BTC-USD-PERP	85,235.2	0.0100	pay 0.0100% / 8h	2h 30m	$5.8M	$9.6M	50x
Short	Aevo BTC-PERP	85,163.6	0.0080	get 0.0010% / 1h	30m 19s	$2.4M	$6.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo 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 AevobpOrdersPrice spread, now −0.084%Rate

Funding earned: −$4.19
Price spread: −0.084% → −0.045%: −$3.89
Slippage, 4 orders: −$6.76
Fee Paradex: 2 bp × 2 orders: −$4
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$34.84
Costs to cover: 0.268%
Break-even: never at this rate

Slippage from Paradex: live order book, 4 min ago; Aevo: live order book, 4 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, 4 min ago	1.36 bp	3.4 bp −$3	3.4 bp −$34	doesn't fit	doesn't fit
Sell Aevo live order book, 4 min ago	1.10 bp	9.7 bp −$10	13.3 bp −$133	doesn't fit	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	85,141.9	−0.109%	$524K	$18.6M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,177	−0.068%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,161	−0.087%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0054%	8h	85,161	−0.087%	$921.5M	$763.3M	125x	as long as short
BloFin BTC-USDT	−0.0035%	8h	85,135.4	−0.117%	$420.5M	$678.3M	150x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	85,184.7	−0.059%	$373K	$2.3M	50x	as long as short
Aster BTCUSDT	−0.0015%	8h	85,178.8	−0.066%	$512.1M	$1.09B	200x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,176.4	−0.069%	$16.7M	$21.7M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,181.9	−0.063%	$36.4M	—	200x	as long as short
Nado BTC-PERP	+0.0023%	1h	85,176.1	−0.069%	$24.7M	$222.8M	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	−0.012%	$338K	$26.8M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,198	−0.044%	$187.0M	$955.3M	100x	as long as short
BingX BTC-USDT	+0.0066%	8h	85,169.5	−0.077%	—	$1.56B	—	as long as short
Phemex BTCUSDT	+0.0078%	8h	85,185.6	−0.058%	$148.6M	$504.5M	150x	as long as short
Aevo BTC-PERPshort	+0.0080%	1h	85,163.6	−0.084%	$2.4M	$6.7M	20x
MEXC BTC_USDT	+0.0084%	8h	85,176.5	−0.069%	$5.05B	$5.71B	500x	as long as short
Bitget BTCUSDT	+0.0084%	8h	85,172	−0.074%	$2.95B	$5.17B	150x	as long as short
Binance BTCUSDT	+0.0085%	8h	85,187.2	−0.056%	$9.41B	$24.82B	150x	as long as short
Bullet BTC-USD	+0.0087%	1h	85,181.6	−0.063%	$207K	$3.3M	20x	as long as short
SoDEX BTC-USD	+0.0092%	1h	85,173	−0.073%	$59.6M	$335.8M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,194.6	−0.048%	$171.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,195.6	−0.046%	$23.7M	$148.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,176	−0.069%	$8.3M	$55.7M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,219.8	−0.018%	$116.9M	$5.35B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,151	−0.099%	$239K	$8.6M	50x	as long as short
Paradex BTC-USD-PERPlong	+0.0100%	8h	85,235.2	long leg	$5.8M	$9.6M	50x
Hyperliquid BTC	+0.0100%	1h	85,253	+0.021%	$3.74B	$5.07B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,197.7	−0.044%	$40.1M	$595.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,183	−0.061%	$5.15B	$9.93B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,193.6	−0.049%	$2.58B	$12.17B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,155	−0.094%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,173.3	−0.073%	$4.6M	$99.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,183.8	−0.060%	$678.4M	$603.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,174.7	−0.071%	$5.49B	$10.93B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,131.3	−0.122%	$35.9M	$174.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,111.9	−0.145%	$154.3M	$569.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,133.5	−0.119%	$278.8M	$944.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,147	−0.103%	$214.0M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,125.3	−0.129%	$139.1M	$315.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,180.9	−0.064%	$30.1M	$205.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,236.3	+0.001%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,170	−0.076%	$11.0M	$14.4M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,174.1	−0.072%	$2.5M	$9.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,212	−0.027%	$217K	$749K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,151.1	−0.099%	$29.9M	$49.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,127.1	−0.127%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,160.7	−0.087%	$2.25B	$947.1M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,145.8	−0.105%	$45.3M	$238.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,177	−0.068%	—	$106.8M	500x	as long as short
Reya BTCRUSDPERP	+0.0114%	1h	85,173.2	−0.073%	$6.6M	$147.4M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0122%	1h	85,211	−0.028%	$871.5M	$1.61B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,180.1	−0.065%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0180%	8h	85,204	−0.037%	$11.3M	$744.6M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0212%	1h	85,230	−0.006%	$79K	$225K	20x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	85,227.6	−0.009%	$717K	$8.0M	30x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,197.9	−0.044%	$8.6M	$43.1M	25x	as long as short