Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0027%/8h= −3.0% APRpaid last 24h −0.030%

Price spread now: Bitget against Aftermath Perps+0.026%7-day average −0.032% · 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−$24as in the Price arb table

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

Long on Aftermath Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.064%−$6 on $10k

Price spread, last 3 days (all we have)−0.135%−$14 · spread now +0.026%, 7d avg −0.032%

Together, before fees−0.199%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.058% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.032%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.1 days. At the pace of the last 3 days (−0.064% in total) that is about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps BTCUSD	86,393.4	0.0076	pay 0.0010% / 1h	0m 26s	$79K	$220K	20x
Short	Bitget BTCUSDT	86,416.2	0.0049	get 0.0049% / 8h	1h 00m	$2.95B	$5.11B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Aftermath Perps. 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 Aftermath PerpsbpFee BitgetbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$5.73
Price spread: +0.026% → −0.032%: $5.81
Slippage, 4 orders: −$9.22
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$30.13
Costs to cover: 0.302%
Break-even: never at this rate

Slippage from Aftermath Perps: live order book, 19 min ago; Bitget: live order book, 4 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 Aftermath Perps live order book, 19 min ago	1.00 bp	8.8 bp −$9	10.4 bp −$104	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.1 bp −$614	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
Bluefin BTC-PERP	−0.0417%	1h	86,381.3	−0.014%	$140K	$663K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,366	−0.032%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,380	−0.015%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,428.8	+0.041%	$357K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0008%	8h	86,402.4	+0.010%	$503.1M	$1.15B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,366.5	−0.031%	$36.8M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,419.7	+0.030%	$8.4M	$42.8M	25x	as long as short
KuCoin XBTUSDTM	+0.0007%	8h	86,414	+0.024%	$849.7M	$713.4M	125x	as long as short
dYdX BTC-USD	+0.0011%	1h	86,400.8	+0.009%	$17.0M	$21.1M	50x	as long as short
Reya BTCRUSDPERP	+0.0024%	1h	86,408.1	+0.017%	$6.7M	$145.1M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0024%	1h	86,403	+0.011%	$332K	$26.8M	52x	as long as short
Deribit BTC-PERPETUAL	+0.0034%	1h	86,386.1	−0.008%	$916.6M	$1.49B	50x	as long as short
BingX BTC-USDT	+0.0038%	8h	86,411.1	+0.021%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0044%	8h	86,352	−0.048%	$149.7M	$477.5M	150x	as long as short
Bitget BTCUSDTshort	+0.0049%	8h	86,416.2	+0.026%	$2.95B	$5.11B	150x
Aevo BTC-PERP	+0.0064%	1h	86,341.2	−0.060%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0066%	8h	86,419.7	+0.030%	$5.12B	$5.73B	500x	as long as short
Binance BTCUSDT	+0.0067%	8h	86,417.3	+0.028%	$9.42B	$24.50B	150x	as long as short
Aftermath Perps BTCUSDlong	+0.0076%	1h	86,393.4	long leg	$79K	$220K	20x
Gate BTC_USDT	+0.0082%	8h	86,409.1	+0.018%	$5.84B	$10.79B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,397.6	+0.005%	$170.3M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,410.5	+0.020%	$24.0M	$153.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,418	+0.029%	$8.4M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0098%	8h	86,414.1	+0.024%	$5.26B	$9.80B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,399	+0.007%	$204K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,432.6	+0.045%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,382.3	−0.013%	$21.8M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,487	+0.108%	$3.79B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,422.2	+0.033%	$40.8M	$517.9M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,418.8	+0.029%	$2.54B	$12.70B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,414	+0.024%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,446.6	+0.062%	$7.6M	$94.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,382.9	−0.012%	$571.1M	$18.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,380.4	−0.015%	$37.8M	$154.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,349.5	−0.051%	$155.5M	$568.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,361.4	−0.037%	$279.1M	$946.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,351.2	−0.049%	$216.7M	$173.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,372.8	−0.024%	$141.2M	$323.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,341	−0.061%	$30.6M	$204.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,452.4	+0.068%	—	$11.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,413	+0.023%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,420.6	+0.031%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,355.2	−0.044%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,383.6	−0.011%	$30.5M	$62.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,348.9	−0.051%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,353	−0.047%	$60.4M	$337.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,340	−0.062%	$2.29B	$968.8M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,392.8	−0.001%	$45.5M	$226.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,361.9	−0.036%	—	$98.9M	500x	as long as short
Perpl BTC	+0.0112%	43m	86,390.8	−0.003%	$419K	$23.5M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,397	+0.004%	$131.9M	$5.67B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,377.8	−0.018%	$191.7M	$947.0M	100x	as long as short
Hibachi BTC/USDT-P	+0.0152%	1h	86,381.8	−0.013%	$718K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0187%	8h	86,375	−0.021%	$414.5M	$654.2M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0188% / S −0.0212%	1h	86,360.3	−0.038%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0200%	8h	86,376	−0.020%	$9.7M	$736.8M	6.4x	as long as short