Funding you earn now, next payment 06:00 UTC−0.0077%/8h= −8.4% APRpaid last 24h −0.027%
Price spread now: Injective against Paradex+0.041%7-day average −0.011% · 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−$6as in the Price arb table
costs, in and out, $10k−$120.116% of the position
Funding, last 4 days (all we have)−0.093%−$9 on $10k
+Price spread, last 4 days (all we have)−0.101%−$10 · spread now +0.041%, 7d avg −0.011%
=Together, before fees−0.194%+ Points / potential airdropParadex: Active · farm board−$19 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Injective is 0.052% dearer against Paradex than usual: you sell high and buy low (spread +0.041% now, against its 7-day average of −0.011%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paradex BTC-USD-PERP | 85,190.2 | 0.0100 | pay 0.0100% / 8h | 2h 28m | $5.8M | $9.6M | 50x |
| Short | Injective BTC/USDC PERP | 85,225 | 0.0023 | get 0.0003% / 1h | 28m 00s | $338K | $26.8M | 52x |
Paradex BTC-USD-PERP
Injective BTC/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Paradex. 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
- −$16.17
- Price spread: +0.041% → −0.011%
- $5.19
- Slippage, 4 orders
- −$7.62
- Fee Paradex: 2 bp × 2 orders
- −$4
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$22.62
- Costs to cover
- 0.116%
- Break-even
- never at this rate
Slippage from Paradex: live order book, 1 min ago; Injective: 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 Paradex live order book, 1 min ago | 0.19 bp | 2.2 bp −$2 | 2.2 bp −$22 | doesn't fit | doesn't fit |
| Sell Injective live order book, 1 min ago | 2.17 bp | 3.5 bp −$4 | 11.4 bp −$114 | 588.4 bp −$58.8K | 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 | 85,147.4 | −0.050% | $524K | $18.4M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,204 | +0.016% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,173 | −0.020% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0054% | 8h | 85,097.8 | −0.108% | $918.9M | $763.4M | 125x | as long as short |
| BloFin BTC-USDT | −0.0035% | 8h | 85,189.4 | −0.001% | $419.3M | $678.8M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0024% | 1h | 85,134.5 | −0.065% | $373K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | −0.0015% | 8h | 85,109.2 | −0.095% | $511.6M | $1.09B | 200x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,169.5 | −0.024% | $16.7M | $21.6M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,118.6 | −0.084% | $36.4M | — | 200x | as long as short |
| Injective BTC/USDC PERPshort | +0.0023% | 1h | 85,225 | +0.041% | $338K | $26.8M | 52x |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
dYdX BTC-USD
gTrade (Gains Network) BTC/USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0028% | 1h | 85,134.6 | −0.065% | $24.7M | $222.7M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0056% | 1h | 85,128.6 | −0.072% | $186.8M | $954.8M | 100x | as long as short |
| BingX BTC-USDT | +0.0066% | 8h | 85,109.2 | −0.095% | — | $1.56B | — | as long as short |
| Deribit BTC-PERPETUAL | +0.0072% | 1h | 85,149.6 | −0.048% | $870.1M | $1.61B | 50x | as long as short |
| Phemex BTCUSDT | +0.0079% | 8h | 85,115.3 | −0.088% | $148.1M | $504.7M | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,107.5 | −0.097% | $2.4M | $6.7M | 20x | as long as short |
| Bitget BTCUSDT | +0.0084% | 8h | 85,110.5 | −0.094% | $2.95B | $5.16B | 150x | as long as short |
| MEXC BTC_USDT | +0.0085% | 8h | 85,111.2 | −0.093% | $5.06B | $5.71B | 500x | as long as short |
| Binance BTCUSDT | +0.0085% | 8h | 85,111.8 | −0.092% | $9.40B | $24.83B | 150x | as long as short |
| Bullet BTC-USD | +0.0091% | 1h | 85,111.3 | −0.093% | $206K | $3.3M | 20x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,131.8 | −0.069% | $170.7M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,137.4 | −0.062% | $23.6M | $148.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,121 | −0.081% | $8.3M | $55.7M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,148.9 | −0.048% | $116.8M | $5.36B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,102 | −0.104% | $239K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERPlong | +0.0100% | 8h | 85,190.2 | long leg | $5.8M | $9.6M | 50x | |
| Hyperliquid BTC | +0.0100% | 1h | 85,202 | +0.014% | $3.74B | $5.08B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,160.3 | −0.035% | $40.1M | $599.0M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,104.4 | −0.101% | $5.14B | $9.93B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,112 | −0.092% | $2.57B | $12.15B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,114 | −0.089% | $3.8M | $17.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,130.3 | −0.070% | $4.6M | $99.2M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,183.8 | −0.007% | $678.4M | $603.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,123.4 | −0.078% | $5.50B | $10.94B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,110.8 | −0.093% | $35.9M | $175.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,111.9 | −0.092% | $154.3M | $569.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,133.5 | −0.067% | $278.8M | $944.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,139 | −0.060% | $214.0M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,125.3 | −0.076% | $139.1M | $315.2M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,156.3 | −0.040% | $30.0M | $205.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,199.2 | +0.011% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,111 | −0.093% | $11.0M | $14.4M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,116.3 | −0.087% | $2.5M | $9.3M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,151.1 | −0.046% | $217K | $749K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,092 | −0.115% | $29.9M | $49.7M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,181.9 | −0.010% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,114 | −0.089% | $59.5M | $335.9M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,101.4 | −0.104% | $2.25B | $944.4M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,086.6 | −0.122% | $45.2M | $238.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,121.7 | −0.080% | — | $106.8M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0114% | 1h | 85,109.7 | −0.094% | $6.6M | $147.4M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,118.4 | −0.084% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0181% | 8h | 85,154 | −0.042% | $11.4M | $743.6M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0220% | 1h | 85,209.3 | +0.022% | $78K | $226K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 85,228.8 | +0.045% | $717K | $8.0M | 30x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,149.7 | −0.048% | $8.7M | $43.1M | 25x | as long as short |
Nado BTC-PERP
Kraken Futures PF_XBTUSD
BingX BTC-USDT
Deribit BTC-PERPETUAL
Phemex BTCUSDT
Aevo BTC-PERP
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Bullet BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Coinbase International BTC-PERP-INTX
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
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