Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.035%

Price spread now: Paradex against 01 Exchange+0.089%7-day average +0.013% · 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−$140.136% of the position

Long on 01 Exchange Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.106%+$11 on $10k

Price spread, last 7 days−0.103%−$10 · spread now +0.089%, 7d avg +0.013%

Together, before fees+0.004%+ Points / potential airdropParadex: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Paradex is 0.076% dearer against 01 Exchange than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,443.6	−0.0056	get 0.0007% / 1h	14m 32s	$365K	$2.3M	50x
Short	Paradex BTC-USD-PERP	85,519.4	0.0100	get 0.0100% / 8h	4h 14m	$5.0M	$9.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against 01 Exchange. 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 01 ExchangebpFee ParadexbpOrdersPrice spread, now +0.089%Rate

Funding earned: $32.73
Price spread: +0.089% → +0.013%: $7.61
Slippage, 4 orders: −$2.6
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: $26.74
Costs to cover: 0.136%
Break-even: 1.3 days

Slippage from 01 Exchange: live order book, 5 min ago; Paradex: live order book, 5 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 01 Exchange live order book, 5 min ago	0.01 bp	3.9 bp −$4	9.7 bp −$97	doesn't fit	doesn't fit
Sell Paradex live order book, 5 min ago	0.22 bp	2.2 bp −$2	4.6 bp −$46	173.3 bp −$17.3K	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
Phoenix BTC	−0.0179%	1h	85,466	+0.026%	$2.1M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,478	+0.040%	$8K	$3K	50x	as long as short
01 Exchange BTCUSDlong	−0.0056%	1h	85,443.6	long leg	$365K	$2.3M	50x
KuCoin XBTUSDTM	−0.0026%	8h	85,443.2	0.000%	$919.1M	$752.1M	125x	as long as short
BloFin BTC-USDT	−0.0021%	8h	85,452.4	+0.010%	$417.8M	$668.4M	150x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,467.7	+0.028%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0011%	8h	85,439.1	−0.005%	$515.0M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0012%	1h	85,459.5	+0.019%	$16.7M	$21.2M	50x	as long as short
Nado BTC-PERP	+0.0018%	1h	85,450.1	+0.008%	$25.3M	$221.8M	50x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,433.4	−0.012%	$4.6M	$97.8M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0062%	8h	85,449.3	+0.007%	—	$1.54B	—	as long as short
Phemex BTCUSDT	+0.0077%	8h	85,459.6	+0.019%	$147.7M	$488.3M	150x	as long as short
Bitget BTCUSDT	+0.0078%	8h	85,438.8	−0.006%	$2.94B	$5.08B	150x	as long as short
Reya BTCRUSDPERP	+0.0084%	1h	85,429.5	−0.017%	$6.7M	$146.8M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,454.2	+0.012%	$172.3M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,477.7	+0.040%	$23.9M	$149.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,446	+0.003%	$8.6M	$53.2M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,458.3	+0.017%	$2.4M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0098%	8h	85,446.5	+0.003%	$5.06B	$5.65B	500x	as long as short
Binance BTCUSDT	+0.0099%	8h	85,446.7	+0.004%	$9.36B	$24.16B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,422	−0.025%	$209K	$8.1M	50x	as long as short
Paradex BTC-USD-PERPshort	+0.0100%	8h	85,519.4	+0.089%	$5.0M	$9.0M	50x
Hyperliquid BTC	+0.0100%	1h	85,520	+0.089%	$3.75B	$4.99B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,479.7	+0.042%	$40.1M	$579.3M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,443.8	0.000%	$5.20B	$9.80B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,455.1	+0.013%	$2.58B	$12.14B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,426	−0.021%	$3.9M	$18.3M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,445.9	+0.003%	$666.8M	$675.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,450.8	+0.008%	$5.51B	$10.75B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,443.8	0.000%	$35.6M	$176.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,420.9	−0.027%	$153.3M	$564.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,426.8	−0.020%	$279.1M	$922.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,459.5	+0.019%	$214.5M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,462.5	+0.022%	$139.7M	$314.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,439	−0.005%	$30.2M	$208.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,500.4	+0.066%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,439	−0.005%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,460.2	+0.019%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,459.5	+0.019%	$2.4M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,504.2	+0.071%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,450.1	+0.008%	$29.9M	$50.3M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,442.4	−0.001%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,460	+0.019%	$59.9M	$336.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,459.4	+0.018%	$2.26B	$942.9M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,420.3	−0.027%	$44.6M	$231.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,472.2	+0.033%	—	$107.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,496.6	+0.062%	$117.2M	$5.19B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0144%	1h	85,504.4	+0.071%	$891.5M	$1.58B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,444	0.000%	$339K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,481.9	+0.045%	$187.3M	$955.3M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0152%	1h	85,466.8	+0.027%	$13.3M	—	200x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,466.1	+0.026%	$8.2M	$42.5M	25x	as long as short
Kalshi KXBTCPERP	+0.0219%	8h	85,474	+0.036%	$10.3M	$756.3M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0222%	1h	85,485.4	+0.049%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0232%	1h	85,501.7	+0.068%	$703K	$7.9M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,466.4	+0.027%	$495K	$18.8M	6.7x	as long as short