Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0025%/8h= −2.7% APRpaid last 24h −0.013%

Price spread now: BingX against Aevo+0.007%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on Aevo Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 4 days (all we have)+0.018%+$2 · spread now +0.007%, 7d avg +0.017%

Together, before fees−0.013%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.017%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo BTC-PERP	85,288.4	0.0096	pay 0.0012% / 1h	53m 10s	$2.4M	$6.7M	20x
Short	BingX BTC-USDT	85,294.1	0.0071	get 0.0071% / 8h	53m 10s	—	$1.57B	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Aevo. 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 AevobpFee BingXbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$5.25
Price spread: +0.007% → +0.017%: −$1.03
Slippage, 4 orders: −$4.25
Fee Aevo: 8 bp × 2 orders: −$16
Fee BingX: 5 bp × 2 orders: −$10
Net: −$36.52
Costs to cover: 0.302%
Break-even: never at this rate

Slippage from Aevo: live order book, 1 min ago; BingX: live order book, 16 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 Aevo live order book, 1 min ago	1.35 bp	10.7 bp −$11	12.3 bp −$123	16.8 bp −$1,679	doesn't fit
Sell BingX live order book, 16 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.0 bp −$501	5.4 bp −$2,685

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	85,330	+0.049%	$8K	$3K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,409	+0.141%	$2.3M	$10.8M	40x	as long as short
KuCoin XBTUSDTM	−0.0030%	8h	85,306.7	+0.021%	$927.9M	$773.3M	125x	as long as short
BloFin BTC-USDT	−0.0023%	8h	85,310.6	+0.026%	$421.6M	$681.2M	150x	as long as short
Aster BTCUSDT	−0.0005%	8h	85,305.5	+0.020%	$511.8M	$1.08B	200x	as long as short
dYdX BTC-USD	0.0000%	1h	85,332.1	+0.051%	$16.7M	$21.0M	50x	as long as short
Perpl BTC	0.0000%	43m	85,319.9	+0.037%	$491K	$18.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,308.7	+0.024%	$36.5M	—	200x	as long as short
01 Exchange BTCUSD	+0.0016%	1h	85,325.4	+0.043%	$351K	$2.3M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,329.7	+0.048%	$185.5M	$951.8M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni BTCUSDT	+0.0030%	1h	85,327.1	+0.045%	$139.5M	$313.0M	100x	as long as short
Injective BTC/USDC PERP	+0.0067%	1h	85,367	+0.092%	$338K	$24.6M	52x	as long as short
BingX BTC-USDTshort	+0.0071%	8h	85,294.1	+0.007%	—	$1.57B	—
Bybit BTCUSDT	+0.0086%	8h	85,312	+0.028%	$5.13B	$9.98B	150x	as long as short
Bitget BTCUSDT	+0.0091%	8h	85,290.1	+0.002%	$2.96B	$5.17B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,328.2	+0.047%	$169.3M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,323.3	+0.041%	$23.6M	$147.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,312	+0.028%	$8.4M	$57.3M	100x	as long as short
MEXC BTC_USDT	+0.0096%	8h	85,317.3	+0.034%	$5.03B	$5.71B	500x	as long as short
Aevo BTC-PERPlong	+0.0096%	1h	85,288.4	long leg	$2.4M	$6.7M	20x
Binance BTCUSDT	+0.0097%	8h	85,317.3	+0.034%	$9.39B	$24.97B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,300	+0.014%	$271K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,371.4	+0.097%	$5.8M	$9.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	85,301.1	+0.015%	$24.1M	$219.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,381	+0.109%	$3.74B	$5.06B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,349.7	+0.072%	$39.9M	$605.4M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,321.1	+0.038%	$2.59B	$12.19B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,295	+0.008%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,318	+0.035%	$5.1M	$96.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,324.1	+0.042%	$690.8M	$302.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,300.2	+0.014%	$5.53B	$10.99B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,300.8	+0.015%	$37.1M	$184.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,296	+0.009%	$156.1M	$556.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,321.4	+0.039%	$279.5M	$951.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,315.9	+0.032%	$214.1M	$158.8M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,300.8	+0.015%	$30.1M	$208.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,373.7	+0.100%	—	$9.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,312	+0.028%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,301.7	+0.016%	$196K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,294	+0.007%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,328.6	+0.047%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,302.4	+0.016%	$30.0M	$46.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,307	+0.022%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,304	+0.018%	$59.7M	$336.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,293.1	+0.006%	$2.26B	$964.3M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,328.7	+0.047%	$157.3M	$512.9M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,270	−0.021%	$45.5M	$241.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,327.7	+0.046%	—	$104.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,324.2	+0.042%	$112.7M	$5.46B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0136%	1h	85,351.1	+0.074%	$841.9M	$1.65B	50x	as long as short
Reya BTCRUSDPERP	+0.0136%	1h	85,289.6	+0.001%	$6.6M	$146.9M	40x	as long as short
Kalshi KXBTCPERP	+0.0169%	8h	85,335	+0.055%	$11.9M	$738.1M	6.4x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,343.2	+0.064%	$8.7M	$42.7M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0147%	1h	85,308.5	+0.024%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,382.5	+0.110%	$684K	$7.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0288%	1h	85,359.5	+0.083%	$79K	$247K	20x	as long as short