Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h 0.000%

Price spread now: HTX against Aevo−0.006%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$360.357% of the position

Long on Aevo Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now −0.006%, 7d avg +0.001%

Together, before fees−0.034%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: $0 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	85,487.9	0.0088	pay 0.0011% / 1h	45m 59s	$2.4M	$1.7M	20x
Short	HTX BTC-USDT	85,482.8	0.0100	get 0.0100% / 8h	4h 45m	$2.26B	$940.2M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.006%Rate

Funding earned: $2.52
Price spread: −0.006% → +0.001%: −$0.73
Slippage, 4 orders: −$7.69
Fee Aevo: 8 bp × 2 orders: −$16
Fee HTX: 6 bp × 2 orders: −$12
Net: −$33.9
Costs to cover: 0.357%
Break-even: 101.2 days

Slippage from Aevo: live order book, 3 min ago; HTX: 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	2.99 bp	12.7 bp −$13	20.1 bp −$201	doesn't fit	doesn't fit
Sell HTX live order book, 3 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.2 bp −$617	10.2 bp −$5,121

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
Bluefin BTC-PERP	−0.0905%	1h	85,517.1	+0.034%	$194K	$725K	40x	as long as short
Phoenix BTC	−0.0179%	1h	85,568	+0.094%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,464	−0.028%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,483.2	−0.006%	$366K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0031%	8h	85,469.1	−0.022%	$417.7M	$665.3M	150x	as long as short
KuCoin XBTUSDTM	−0.0003%	8h	85,476.6	−0.013%	$918.1M	$750.2M	125x	as long as short
dYdX BTC-USD	0.0000%	1h	85,499.7	+0.014%	$16.7M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,480.9	−0.008%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0013%	8h	85,488.8	+0.001%	$515.2M	$1.10B	200x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,471.3	−0.019%	$6.9M	$97.2M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0058%	1h	85,420.4	−0.079%	$22.6M	$219.1M	50x	as long as short
BingX BTC-USDT	+0.0060%	8h	85,501.9	+0.016%	—	$1.54B	—	as long as short
Bitget BTCUSDT	+0.0075%	8h	85,507.6	+0.023%	$2.96B	$5.02B	150x	as long as short
Reya BTCRUSDPERP	+0.0078%	1h	85,457.6	−0.035%	$6.7M	$146.6M	40x	as long as short
Aevo BTC-PERPlong	+0.0088%	1h	85,487.9	long leg	$2.4M	$1.7M	20x
Binance BTCUSDT	+0.0088%	8h	85,500	+0.014%	$9.35B	$24.01B	150x	as long as short
MEXC BTC_USDT	+0.0089%	8h	85,510.5	+0.026%	$5.04B	$5.58B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,502.3	+0.017%	$173.6M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,509.2	+0.025%	$23.8M	$148.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,483	−0.006%	$8.4M	$52.6M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,555	+0.079%	$4.1M	$8.5M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,466	−0.026%	$233K	$7.9M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,574	+0.101%	$3.74B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,525.3	+0.044%	$40.0M	$575.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,506.1	+0.021%	$5.25B	$9.67B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,514.2	+0.031%	$2.57B	$12.09B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,486	−0.002%	$3.9M	$18.0M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,696.6	+0.244%	$648.3M	$574.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,503.4	+0.018%	$5.53B	$10.56B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,489.3	+0.002%	$35.8M	$176.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,466.8	−0.025%	$153.8M	$563.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,552.4	+0.075%	$279.4M	$918.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,550.2	+0.073%	$214.8M	$166.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,565.9	+0.091%	$139.9M	$314.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,504.3	+0.019%	$30.2M	$207.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,530.1	+0.049%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,471	−0.020%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,473	−0.017%	$195K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,485.2	−0.003%	$2.3M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,484.2	−0.004%	$29.9M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,456.3	−0.037%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,497	+0.011%	$59.9M	$336.1M	40x	as long as short
HTX BTC-USDTshort	+0.0100%	8h	85,482.8	−0.006%	$2.26B	$940.2M	200x
Phemex BTCUSDT	+0.0100%	8h	85,497.1	+0.011%	$150.9M	$483.2M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,486.9	−0.001%	$44.5M	$226.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,510.5	+0.026%	—	$106.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,528.1	+0.047%	$117.4M	$5.15B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,617	+0.151%	$340K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,520.9	+0.039%	$188.8M	$953.3M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0173%	1h	85,541.2	+0.062%	$893.6M	$1.53B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,478.9	−0.011%	$13.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	85,567.8	+0.093%	$694K	$7.9M	30x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,510.7	+0.027%	$8.3M	$42.4M	25x	as long as short
Aftermath Perps BTCUSD	+0.0206%	1h	85,587.4	+0.116%	$78K	$219K	20x	as long as short
Kalshi KXBTCPERP	+0.0217%	8h	85,505	+0.020%	$10.4M	$759.0M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,485.3	−0.003%	$498K	$18.9M	6.7x	as long as short