Funding you earn now, next payment 07:23 UTC−0.0347%/8h= −37.9% APRpaid last 24h +0.052%
Price spread now: Paradex against Perpl+0.046%7-day average −0.001% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.087%−$9 on $10k
+Price spread, last 7 days−0.089%−$9 · spread now +0.046%, 7d avg −0.001%
=Together, before fees−0.176%+ Points / potential airdropPerpl: Active · Paradex: Active · farm board−$18 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Paradex is 0.047% dearer against Perpl than usual: you sell high and buy low (spread +0.046% now, against its 7-day average of −0.001%): +$5 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 4 days (−0.087% in total) that is about 2.2 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.087% in total (about -8.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Perpl BTC | 85,221.4 | 0.0447 | pay 0.0040% / 43m | 4m 50s | $461K | $18.4M | 6.7x |
| Short | Paradex BTC-USD-PERP | 85,260.8 | 0.0100 | get 0.0100% / 8h | 15m 50s | $5.8M | $9.6M | 50x |
Perpl BTC
Paradex BTC-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paradex against Perpl. 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
- −$72.77
- Price spread: +0.046% → −0.001%
- $4.74
- Slippage, 4 orders
- no order book: not counted
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Fee Paradex: 2 bp × 2 orders
- −$4
- Net
- −$85.83
- Costs to cover
- 0.178%
- Break-even
- never at this rate
Slippage unknown: Perpl: no order-book sample; Paradex: live order book, 3 min ago. 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 Perpl no order-book sample | — | — | — | — | — |
| Sell Paradex live order book, 3 min ago | 1.21 bp | 3.2 bp −$3 | 3.2 bp −$32 | 167.9 bp −$16.8K | doesn't fit |
Perpl: 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.
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,229 | +0.009% | $8K | $3K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,189 | −0.038% | $2.3M | $10.8M | 40x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,211.5 | −0.012% | $421.2M | $686.1M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0014% | 8h | 85,186.5 | −0.041% | $926.8M | $778.2M | 125x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,228.7 | +0.009% | $343K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | +0.0004% | 8h | 85,193.2 | −0.033% | $508.9M | $1.09B | 200x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,211.6 | −0.011% | $36.4M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0012% | 1h | 85,231.4 | +0.012% | $16.7M | $21.0M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0026% | 1h | 85,211.1 | −0.012% | $185.7M | $954.6M | 100x | as long as short |
| BingX BTC-USDC | +0.0064% | 8h | 85,180.4 | −0.048% | — | $17.4M | — | as long as short |
Hotstuff BTC-PERP
Phoenix BTC
BloFin BTC-USDT
KuCoin XBTUSDTM
01 Exchange BTCUSD
Aster BTCUSDT
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
Kraken Futures PF_XBTUSD
BingX BTC-USDCShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0067% | 1h | 85,222 | +0.001% | $302K | $25.4M | 52x | as long as short |
| Bybit BTCUSDT | +0.0080% | 8h | 85,193.8 | −0.032% | $5.09B | $10.03B | 150x | as long as short |
| ApeX Omni BTCUSDT | +0.0084% | 1h | 85,241.3 | +0.023% | $139.6M | $312.5M | 100x | as long as short |
| Nado BTC-PERP | +0.0089% | 1h | 85,218.8 | −0.003% | $24.0M | $220.9M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,211.3 | −0.012% | $168.4M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,210.6 | −0.013% | $23.6M | $148.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,214 | −0.009% | $8.4M | $57.7M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,196.5 | −0.029% | $2.4M | $6.7M | 20x | as long as short |
| Bitget BTCUSDT | +0.0097% | 8h | 85,190.9 | −0.036% | $2.97B | $5.21B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,191 | −0.036% | $268K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERPshort | +0.0100% | 8h | 85,260.8 | +0.046% | $5.8M | $9.6M | 50x | |
| Hyperliquid BTC | +0.0100% | 1h | 85,277 | +0.065% | $3.75B | $5.09B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,237.4 | +0.019% | $40.3M | $604.7M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,193.8 | −0.032% | $9.37B | $25.16B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,200 | −0.025% | $2.60B | $12.26B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,215 | −0.008% | $3.8M | $17.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,228.6 | +0.008% | $4.7M | $97.5M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,194.1 | −0.032% | $5.49B | $11.15B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,194.4 | −0.032% | $5.02B | $5.77B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,189.6 | −0.037% | $36.9M | $189.3M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,180.5 | −0.048% | $155.7M | $548.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,211.2 | −0.012% | $282.6M | $958.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,244.3 | +0.027% | $214.2M | $159.5M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,228.6 | +0.008% | $30.0M | $212.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,278.5 | +0.067% | — | $10.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,214 | −0.009% | $10.9M | $15.0M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,205.5 | −0.019% | $195K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,207.4 | −0.016% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,237.3 | +0.019% | $194K | $796K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,209.5 | −0.014% | $29.2M | $45.3M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,206 | −0.018% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,200 | −0.025% | $59.7M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,200 | −0.025% | $2.25B | $973.9M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,200.1 | −0.025% | $158.6M | $516.2M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,240 | +0.022% | $693.3M | $214.1M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,170.6 | −0.060% | $45.4M | $241.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,213.4 | −0.009% | — | $106.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,239.4 | +0.021% | $111.7M | $5.47B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0135% | 1h | 85,240.1 | +0.022% | $839.9M | $1.67B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0142% | 1h | 85,194.7 | −0.031% | $6.6M | $142.9M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0171% | 8h | 85,243 | +0.025% | $12.0M | $737.7M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,233.4 | +0.014% | $8.8M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0146% | 1h | 85,204.7 | −0.020% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0248% | 1h | 85,250.5 | +0.034% | $692K | $7.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0290% | 1h | 85,242.6 | +0.025% | $81K | $254K | 20x | as long as short |
| Perpl BTClong | +0.0447% | 43m | 85,221.4 | long leg | $461K | $18.4M | 6.7x |
Injective BTC/USDC PERP
Bybit BTCUSDT
ApeX Omni BTCUSDT
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Bitget BTCUSDT
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Binance BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD