Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0075%/8h= −8.2% APRpaid last 24h −0.032%

Price spread now: Gate against Aftermath Perps−0.035%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on Aftermath Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.071%−$7 on $10k

Price spread, last 3 days (all we have)−0.048%−$5 · spread now −0.035%, 7d avg −0.031%

Together, before fees−0.119%−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.031%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps BTCUSD	86,474.7	0.0157	pay 0.0020% / 1h	12m 03s	$78K	$219K	20x
Short	Gate BTC_USDT	86,444.5	0.0082	get 0.0082% / 8h	12m 03s	$5.85B	$10.80B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.035%Rate

Funding earned: −$15.69
Price spread: −0.035% → −0.031%: −$0.43
Slippage, 4 orders: −$10.41
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$50.53
Costs to cover: 0.344%
Break-even: never at this rate

Slippage from Aftermath Perps: live order book, 2 min ago; Gate: live order book, 2 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, 2 min ago	1.00 bp	10.0 bp −$10	14.8 bp −$148	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	0.01 bp	7.5 bp −$8	7.5 bp −$75	9.0 bp −$896	11.0 bp −$5,504

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	−0.0118%	1h	86,476	+0.001%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,421	−0.062%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,345	−0.150%	$332K	$26.9M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,468.8	−0.007%	$8.3M	$42.7M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,476.2	+0.002%	$358K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,447.6	−0.031%	$414K	$22.5M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,471.8	−0.003%	$36.8M	—	200x	as long as short
Aster BTCUSDT	+0.0007%	8h	86,445.7	−0.034%	$501.4M	$1.15B	200x	as long as short
KuCoin XBTUSDTM	+0.0020%	8h	86,447.1	−0.032%	$833.8M	$728.5M	125x	as long as short
Reya BTCRUSDPERP	+0.0035%	1h	86,456.3	−0.021%	$6.7M	$145.5M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0043%	8h	86,449.5	−0.029%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0054%	8h	86,461.6	−0.015%	$150.6M	$478.2M	150x	as long as short
Bitget BTCUSDT	+0.0055%	8h	86,441.1	−0.039%	$2.96B	$5.13B	150x	as long as short
dYdX BTC-USD	+0.0064%	1h	86,456.7	−0.021%	$16.9M	$21.1M	50x	as long as short
MEXC BTC_USDT	+0.0072%	8h	86,443.6	−0.036%	$5.16B	$5.68B	500x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,434.5	−0.046%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0073%	8h	86,442.1	−0.038%	$9.43B	$24.55B	150x	as long as short
Gate BTC_USDTshort	+0.0082%	8h	86,444.5	−0.035%	$5.85B	$10.80B	200x
Lighter BTC	+0.0096%	1h	86,457.3	−0.020%	$170.1M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,464.7	−0.012%	$23.9M	$152.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,453	−0.025%	$8.5M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,454	−0.024%	$5.26B	$9.79B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,440	−0.040%	$196K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,501.7	+0.031%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,462.9	−0.014%	$21.7M	$234.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,518	+0.050%	$3.79B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,493	+0.021%	$41.1M	$535.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,457.5	−0.020%	$2.55B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,462	−0.015%	$3.9M	$18.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,496.5	+0.025%	$7.3M	$95.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,449	−0.030%	$572.1M	$12.5M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,443	−0.037%	$38.0M	$157.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,485.4	+0.012%	$157.1M	$568.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,457.2	−0.020%	$279.3M	$947.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,437.7	−0.043%	$216.9M	$172.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,457.6	−0.020%	$141.4M	$323.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,450.5	−0.028%	$30.7M	$206.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,501.5	+0.031%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,459	−0.018%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,458.5	−0.019%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,447.4	−0.032%	$2.5M	$9.4M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,477.4	+0.003%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,476.9	+0.003%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,429.9	−0.052%	$3.4M	$5.3M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,442	−0.038%	$60.5M	$338.0M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,437.9	−0.043%	$2.29B	$968.2M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,428.8	−0.053%	$45.7M	$227.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,453.1	−0.025%	—	$100.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,471.2	−0.004%	$192.9M	$953.2M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,486.9	+0.014%	$132.3M	$5.64B	50x	as long as short
Aftermath Perps BTCUSDlong	+0.0157%	1h	86,474.7	long leg	$78K	$219K	20x
Hibachi BTC/USDT-P	+0.0184%	1h	86,469.7	−0.006%	$717K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0193%	8h	86,431.3	−0.050%	$414.9M	$658.6M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0199% / S −0.0223%	1h	86,470.3	−0.005%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0206%	8h	86,478	+0.004%	$10.0M	$750.5M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0211%	1h	86,489.3	+0.017%	$911.5M	$1.48B	50x	as long as short