Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h −0.023%

Price spread now: edgeX against Aevo−0.150%72s7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$290.291% of the position

Long on Aevo Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.190%−$19 on $10k

Price spread, last 3 days (all we have)+0.171%+$17 · spread now −0.150%, 7d avg −0.006%

Together, before fees−0.020%+ Points / potential airdropedgeX: Active · farm board−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.145% cheaper against Aevo than usual: you would sell low and buy high (spread −0.150% now, against its 7-day average of −0.006%). If the spread goes back, that is −$14 on $10k: about 13 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.190%, so the current rate has only just turned in your favour. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo BTC-PERP	86,523.2	0.0064	pay 0.0008% / 1h	55m 56s	$2.4M	$1.3M	20x
Short	edgeX BTCUSDC	86,393.2	0.0100	get 0.0050% / 4h	55m 56s	$279.2M	$943.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.150%Rate

Funding earned: $7.56
Price spread: −0.150% → −0.006%: −$14.46
Slippage, 4 orders: −$4.12
Fee Aevo: 8 bp × 2 orders: −$16
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$36.03
Costs to cover: 0.291%
Break-even: 40.4 days

Slippage from Aevo: live order book, 3 min ago; edgeX: live order book, 3 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, 3 min ago	0.90 bp	9.9 bp −$10	11.1 bp −$111	15.4 bp −$1,545	doesn't fit
Sell edgeX live order book, 3 min ago	0.02 bp	4.5 bp −$5	4.5 bp −$45	5.0 bp −$496	6.5 bp −$3,226

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	−0.0159%	1h	86,352	−0.198%	$2.2M	$11.7M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,460	−0.073%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,424	−0.115%	$332K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,502.7	−0.024%	$8.3M	$42.8M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,508.9	−0.016%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0006%	8h	86,531.6	+0.010%	$503.8M	$1.15B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,527.1	+0.005%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0008%	8h	86,529.1	+0.007%	$850.3M	$713.6M	125x	as long as short
Reya BTCRUSDPERP	+0.0024%	1h	86,489.3	−0.039%	$6.7M	$145.2M	40x	as long as short
BingX BTC-USDT	+0.0040%	8h	86,524.8	+0.002%	—	$1.59B	—	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BTCUSDT	+0.0042%	8h	86,522.6	−0.001%	$149.9M	$478.0M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0043%	1h	86,570.3	+0.054%	$917.4M	$1.49B	50x	as long as short
Bitget BTCUSDT	+0.0051%	8h	86,519.1	−0.005%	$2.96B	$5.12B	150x	as long as short
dYdX BTC-USD	+0.0058%	1h	86,452.4	−0.082%	$17.0M	$21.1M	50x	as long as short
Aevo BTC-PERPlong	+0.0064%	1h	86,523.2	long leg	$2.4M	$1.3M	20x
MEXC BTC_USDT	+0.0068%	8h	86,530.7	+0.009%	$5.12B	$5.61B	500x	as long as short
Binance BTCUSDT	+0.0069%	8h	86,530.7	+0.009%	$9.43B	$24.52B	150x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,526.8	+0.004%	$5.87B	$10.69B	200x	as long as short
Aftermath Perps BTCUSD	+0.0084%	1h	86,439.6	−0.097%	$79K	$220K	20x	as long as short
Lighter BTC	+0.0096%	1h	86,541.1	+0.021%	$170.3M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,553.2	+0.035%	$24.0M	$151.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,502	−0.024%	$8.5M	$52.5M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,524.1	+0.001%	$5.26B	$9.80B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,480	−0.050%	$203K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,514.1	−0.010%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,465	−0.067%	$21.9M	$234.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,586	+0.073%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,503.7	−0.022%	$41.2M	$521.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,519.6	−0.004%	$2.54B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,490	−0.038%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,535.6	+0.014%	$7.6M	$94.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,382.9	−0.162%	$571.1M	$18.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,529.5	+0.007%	$37.9M	$154.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,337.9	−0.214%	$155.6M	$568.2M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	86,393.2	−0.150%	$279.2M	$943.9M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,348.3	−0.202%	$216.7M	$173.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,396.2	−0.147%	$141.2M	$323.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,425.5	−0.113%	$30.7M	$204.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,535.4	+0.014%	—	$11.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,502	−0.024%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,513.3	−0.011%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,533.2	+0.012%	$2.4M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,553	+0.034%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,565.9	+0.049%	$30.6M	$62.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,459.3	−0.074%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,531	+0.009%	$60.5M	$337.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,514	−0.011%	$2.30B	$969.4M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,514.9	−0.009%	$45.3M	$226.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,515.4	−0.009%	—	$99.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,563.1	+0.046%	$192.3M	$947.8M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,483.7	−0.046%	$417K	$23.4M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,579.7	+0.065%	$132.4M	$5.68B	50x	as long as short
Hibachi BTC/USDT-P	+0.0160%	1h	86,481.4	−0.048%	$718K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0189%	8h	86,471.5	−0.060%	$414.6M	$655.4M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0190% / S −0.0213%	1h	86,518.8	−0.005%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0202%	8h	86,527	+0.004%	$9.8M	$738.3M	6.4x	as long as short