Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.022%

Price spread now: BloFin against Arcus+0.035%7-day average −0.024% · 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−$11as in the Price arb table

costs, in and out, $10k−$170.167% of the position

Long on Arcus Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.081%−$8 on $10k

Price spread, last 4 days (all we have)−0.152%−$15 · spread now +0.035%, 7d avg −0.024%

Together, before fees−0.233%−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.059% dearer against Arcus than usual: you sell high and buy low (spread +0.035% now, against its 7-day average of −0.024%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus BTC-USD	85,569.7	0.0021	pay 0.0003% / 1h	50m 48s	$6.9M	$97.1M	40x
Short	BloFin BTC-USDT	85,599.8	−0.0031	pay 0.0031% / 8h	4h 50m	$417.7M	$665.6M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Arcus. 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 ArcusbpFee BloFinbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$10.85
Price spread: +0.035% → −0.024%: $5.87
Slippage, 4 orders: −$0.23
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$21.71
Costs to cover: 0.167%
Break-even: never at this rate

Slippage from Arcus: live order book, 3 min ago; BloFin: 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 Arcus live order book, 3 min ago	0.01 bp	2.3 bp −$2	2.3 bp −$23	5.0 bp −$495	doesn't fit
Sell BloFin live order book, 3 min ago	0.03 bp	6.0 bp −$6	6.0 bp −$60	6.7 bp −$665	7.5 bp −$3,756

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	−0.1921%	1h	85,641.4	+0.084%	$194K	$725K	40x	as long as short
Phoenix BTC	−0.0179%	1h	85,587	+0.020%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,613	+0.051%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,591.2	+0.025%	$370K	$2.3M	50x	as long as short
BloFin BTC-USDTshort	−0.0031%	8h	85,599.8	+0.035%	$417.7M	$665.6M	150x
KuCoin XBTUSDTM	−0.0001%	8h	85,632.7	+0.074%	$919.9M	$749.3M	125x	as long as short
dYdX BTC-USD	0.0000%	1h	85,605.7	+0.042%	$16.7M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,610.8	+0.048%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0016%	8h	85,625.6	+0.065%	$516.1M	$1.10B	200x	as long as short
Arcus BTC-USDlong	+0.0021%	1h	85,569.7	long leg	$6.9M	$97.1M	40x

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0051%	1h	85,582.9	+0.015%	$22.5M	$218.8M	50x	as long as short
BingX BTC-USDT	+0.0058%	8h	85,651	+0.095%	—	$1.54B	—	as long as short
Bitget BTCUSDT	+0.0074%	8h	85,649.7	+0.093%	$2.96B	$5.01B	150x	as long as short
Reya BTCRUSDPERP	+0.0077%	1h	85,595.6	+0.030%	$6.7M	$146.6M	40x	as long as short
SoDEX BTC-USD	+0.0084%	1h	85,607	+0.044%	$60.0M	$336.1M	40x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,597.8	+0.033%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0089%	8h	85,650	+0.094%	$5.05B	$5.58B	500x	as long as short
Binance BTCUSDT	+0.0089%	8h	85,603.7	+0.040%	$9.34B	$23.96B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,602.2	+0.038%	$173.9M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,636.7	+0.078%	$23.8M	$148.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,595	+0.030%	$8.4M	$52.6M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,621.5	+0.061%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,566	−0.004%	$233K	$7.9M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,724	+0.180%	$3.75B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,610	+0.047%	$40.1M	$576.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,587.9	+0.021%	$5.32B	$9.58B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,593.6	+0.028%	$2.58B	$12.09B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,572	+0.003%	$3.9M	$18.0M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,696.6	+0.148%	$648.3M	$574.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,652.7	+0.097%	$5.54B	$10.54B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,606.4	+0.043%	$35.9M	$175.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,584.4	+0.017%	$156.6M	$560.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,637.5	+0.079%	$279.7M	$917.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,650.2	+0.094%	$214.9M	$165.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,649.2	+0.093%	$140.0M	$314.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,646.5	+0.090%	$30.3M	$207.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,647.3	+0.091%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,596	+0.031%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,604.3	+0.040%	$194K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,589.7	+0.023%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,598.8	+0.034%	$30.0M	$51.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,577	+0.009%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,598	+0.033%	$2.27B	$938.1M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,603.9	+0.040%	$151.0M	$482.7M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,629.1	+0.069%	$44.5M	$226.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,582	+0.014%	—	$106.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,646.8	+0.090%	$117.3M	$5.14B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,670	+0.117%	$340K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,628.1	+0.068%	$188.7M	$952.2M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,609.1	+0.046%	$13.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	85,684.7	+0.134%	$700K	$7.9M	30x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,618.4	+0.057%	$8.4M	$42.4M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0196%	1h	85,656.5	+0.101%	$892.9M	$1.53B	50x	as long as short
Aftermath Perps BTCUSD	+0.0201%	1h	85,672.2	+0.120%	$78K	$219K	20x	as long as short
Kalshi KXBTCPERP	+0.0218%	8h	85,624	+0.063%	$10.7M	$758.6M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,587.7	+0.021%	$492K	$18.9M	6.7x	as long as short