Settings8H · net · $10k
Funding arb · Price arb /

BTC

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 02:00 UTC−0.0058%/8h= −6.4% APRnext payment $0.07 per $10,000 · paid last 24h −0.010%
Price spread now: Extended against Aftermath Perps−0.045%7-day average −0.059% · you buy dearer than you sell
Net, funding: paid 7d − costsunder 7 days of funding history
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$260.260% of the position
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.032%−$3 on $10k
Price spread, last 4 days (all we have)−0.313%−$31 · spread now −0.045%, 7d avg −0.059%
Together, before fees−0.345%+ Points / potential airdropExtended: Active · farm board−$34 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.059%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAftermath Perps BTCUSD85,654.50.0162pay 0.0020% / 1h31m 19s$78K$219K20x
ShortExtended BTC-USD85,6160.0104get 0.0013% / 1h31m 19s$43.9M$228.4M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended 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

Funding earned
−$12.21
Price spread: −0.045% → −0.059%
$1.45
Slippage, 4 orders
−$11.95
Fee Aftermath Perps: 4.5 bp × 2 orders
−$9
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$36.71
Costs to cover
0.260%
Break-even
never at this rate
Slippage from Aftermath Perps: live order book, 38 min ago; Extended: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Aftermath Perps live order book, 38 min ago1.00 bp9.7 bp −$1014.6 bp −$146doesn't fitdoesn't fit
Sell Extended live order book, 3 min ago0.06 bp2.6 bp −$32.6 bp −$262.6 bp −$2617.8 bp −$3,907

BTC on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0144%1h85,641−0.016%$2.2M$10.5M40xas long as short
Hotstuff BTC-PERP−0.0080%1h85,657+0.003%$8K$3K50xas long as short
01 Exchange BTCUSD−0.0064%1h85,634.3−0.024%$364K$2.4M50xas long as short
Perpl BTC0.0000%43m85,661.8+0.008%$515K$20.9M6.7xas long as short
dYdX BTC-USD+0.0001%1h85,662+0.009%$16.8M$20.9M50xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h85,652.2−0.003%$36.7M200xas long as short
Injective BTC/USDC PERP+0.0020%1h85,691+0.043%$340K$26.9M52xas long as short
Aster BTCUSDT+0.0034%8h85,633.1−0.025%$509.0M$1.14B200xas long as short
KuCoin XBTUSDTM+0.0035%8h85,631.2−0.027%$902.5M$755.6M125xas long as short
ApeX Omni BTCUSDT+0.0037%1h85,595.3−0.069%$140.0M$320.4M100xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
RISEx BTC/USDC+0.0044%1h85,663.5+0.010%$7.8M$42.4M25xas long as short
BingX BTC-USDC+0.0054%8h85,636−0.022%$15.4Mas long as short
HTX BTC-USDT+0.0056%8h85,633.7−0.024%$2.27B$952.7M200xas long as short
Reya BTCRUSDPERP+0.0056%1h85,648.1−0.008%$6.7M$146.2M40xas long as short
Nado BTC-PERP+0.0065%1h85,645.2−0.011%$22.6M$228.3M50xas long as short
Bitget BTCUSDT+0.0069%8h85,638.3−0.019%$2.94B$5.11B150xas long as short
MEXC BTC_USDT+0.0088%8h85,649.9−0.005%$5.07B$5.71B500xas long as short
Aevo BTC-PERP+0.0088%1h85,637.5−0.020%$2.5M$1.8M20xas long as short
Binance BTCUSDT+0.0088%8h85,636.3−0.021%$9.32B$24.43B150xas long as short
Gate BTC_USDT+0.0095%8h85,650.8−0.004%$5.61B$10.51B200xas long as short
Lighter BTC+0.0096%1h85,640.8−0.016%$169.6M$986.6M50xas long as short
Lighter RH BTC+0.0096%1h85,651.1−0.004%$23.2M$146.2M50xas long as short
Popdex BTCUSDT+0.0096%1h85,652−0.003%$8.4M$52.0M100xas long as short
Katana Perps BTC-USD+0.0100%8h85,616−0.045%$206K$7.5M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,634.9−0.023%$3.8M$8.5M50xas long as short
Hyperliquid BTC+0.0100%1h85,713+0.068%$3.76B$5.00B40xas long as short
Pacifica BTC+0.0100%1h85,680.7+0.031%$40.7M$569.7M50xas long as short
Bybit BTCUSDT+0.0100%8h85,645.2−0.011%$5.29B$9.78B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,644.6−0.012%$2.54B$12.41B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h85,632−0.026%$3.9M$18.0M25xas long as short
Arcus BTC-USD+0.0100%1h85,627.3−0.032%$7.3M$98.3M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,622.8−0.037%$35.1M$162.6M75xas long as short
Variational Omni BTC+0.0100%8h85,640.3−0.017%$156.2M$559.1Mas long as short
edgeX BTCUSDC+0.0100%4h85,580.7−0.086%$278.2M$944.9M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,580.1−0.087%$214.9M$167.6M50xas long as short
StandX BTC-USD+0.0100%1h85,647.7−0.008%$30.3M$208.3M40xas long as short
Vest BTC-PERP+0.0100%1h85,697.7+0.050%$11.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,644−0.012%$11.0M$14.2M50xas long as short
Bullet BTC-USD+0.0100%1h85,651.2−0.004%$188K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,646.5−0.009%$2.4M$9.0M100xas long as short
Bluefin BTC-PERP+0.0100%1h85,685.6+0.036%$186K$708K40xas long as short
Derive BTC-PERP+0.0100%1h85,644.8−0.011%$30.0M$56.7M15xas long as short
SunX BTC-USDT+0.0100%8h85,611.5−0.050%$2.9M$6.6M100xas long as short
SoDEX BTC-USD+0.0100%1h85,636−0.022%$59.9M$337.5M40xas long as short
Phemex BTCUSDT+0.0100%8h85,638.4−0.019%$153.0M$480.0M150xas long as short
Bulk BTC-USD+0.0100%1h85,587.5−0.078%$583.6M$150.2M40xas long as short
Extended BTC-USDshort+0.0104%1h85,616−0.045%$43.9M$228.4M50x
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h85,654.30.000%$101.3M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h85,668.9+0.017%$131.0M$5.18B50xas long as short
Hibachi BTC/USDT-P+0.0136%1h85,697.9+0.051%$698K$7.9M30xas long as short
Kraken Futures PF_XBTUSD+0.0146%1h85,652.1−0.003%$188.7M$965.3M100xas long as short
Aftermath Perps BTCUSDlong+0.0162%1h85,654.5long leg$78K$219K20x
Deribit BTC-PERPETUAL+0.0180%1h85,680+0.030%$894.3M$1.53B50xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0203% / S −0.0190%1h85,654.1−0.001%$13.6M200xas long as short
Kalshi KXBTCPERP+0.0208%8h85,667+0.015%$10.0M$770.7M6.4xas long as short