Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0079%/8h= +8.7% APRpaid last 24h −0.010%

Price spread now: edgeX against Arcus+0.092%54s7-day average −0.071% · 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—prices read too far apart to compare

costs, in and out, $10k−$150.152% of the position

Long on Arcus Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.147%−$15 on $10k

Price spread, last 7 days−0.127%−$13 · spread now +0.092%, 7d avg −0.071%

Together, before fees−0.273%+ Points / potential airdropedgeX: Active · farm board−$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and edgeX is 0.163% dearer against Arcus than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.071%. Mind the row above: over the last 4 days funding on this pair cost −0.147%, so the current rate has only just turned in your favour. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus BTC-USD	85,585.8	0.0021	pay 0.0003% / 1h	52m 11s	$6.9M	$97.1M	40x
Short	edgeX BTCUSDC	85,664.8	0.0100	get 0.0050% / 4h	52m 11s	$279.8M	$917.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.092%Rate

Funding earned: $16.62
Price spread: +0.092% → −0.071%: $16.31
Slippage, 4 orders: −$1.73
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $17.69
Costs to cover: 0.152%
Break-even: from the start

Slippage from Arcus: live order book, 2 min ago; edgeX: 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 Arcus live order book, 2 min ago	0.01 bp	2.3 bp −$2	2.3 bp −$23	5.0 bp −$495	doesn't fit
Sell edgeX live order book, 2 min ago	0.09 bp	6.1 bp −$6	6.4 bp −$64	6.7 bp −$669	8.1 bp −$4,041

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	−0.2290%	1h	85,643.2	+0.067%	$194K	$725K	40x	as long as short
Phoenix BTC	−0.0179%	1h	85,659	+0.086%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,619	+0.039%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,606.5	+0.024%	$370K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0031%	8h	85,654.4	+0.080%	$418.0M	$665.8M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,669.4	+0.098%	$16.7M	$21.2M	50x	as long as short
KuCoin XBTUSDTM	0.0000%	8h	85,585	−0.001%	$919.4M	$749.3M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,613.2	+0.032%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0016%	8h	85,609.5	+0.028%	$516.0M	$1.10B	200x	as long as short
Arcus BTC-USDlong	+0.0021%	1h	85,585.8	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	+0.0056%	1h	85,603.6	+0.021%	$22.5M	$218.8M	50x	as long as short
BingX BTC-USDC	+0.0058%	8h	85,585.7	0.000%	—	$17.1M	—	as long as short
ApeX Omni BTCUSDT	+0.0059%	1h	85,584.6	−0.001%	$139.9M	$315.1M	100x	as long as short
Bitget BTCUSDT	+0.0074%	8h	85,599.4	+0.016%	$2.96B	$5.01B	150x	as long as short
Reya BTCRUSDPERP	+0.0077%	1h	85,608.9	+0.027%	$6.7M	$146.6M	40x	as long as short
SoDEX BTC-USD	+0.0083%	1h	85,594	+0.010%	$60.0M	$336.1M	40x	as long as short
MEXC BTC_USDT	+0.0088%	8h	85,595.9	+0.012%	$5.05B	$5.57B	500x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,595.2	+0.011%	$2.5M	$1.7M	20x	as long as short
Binance BTCUSDT	+0.0089%	8h	85,595.8	+0.012%	$9.34B	$23.96B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,609.7	+0.028%	$174.0M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,607.4	+0.025%	$23.8M	$148.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,604	+0.021%	$8.4M	$52.5M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,662.8	+0.090%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,587	+0.001%	$235K	$7.9M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,672	+0.101%	$3.74B	$4.96B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,655.6	+0.082%	$40.1M	$576.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,600	+0.017%	$5.32B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,602.9	+0.020%	$2.57B	$12.09B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,600	+0.017%	$3.9M	$18.0M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,696.6	+0.129%	$648.3M	$574.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,613.7	+0.033%	$5.54B	$10.54B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,585.5	0.000%	$36.0M	$175.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,690.1	+0.122%	$156.8M	$560.5M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	85,664.8	+0.092%	$279.8M	$917.5M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,627.1	+0.048%	$215.0M	$164.8M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,646.5	+0.071%	$30.3M	$207.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,675.9	+0.105%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,609	+0.027%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,607	+0.025%	$195K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,594	+0.010%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,600.4	+0.017%	$30.0M	$51.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,588.5	+0.003%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,600.1	+0.017%	$2.27B	$938.0M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,598	+0.014%	$150.8M	$482.6M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,576.8	−0.010%	$44.5M	$226.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,658.7	+0.085%	—	$106.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,647.4	+0.072%	$117.5M	$5.14B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,724	+0.161%	$340K	$26.9M	52x	as long as short
Deribit BTC-PERPETUAL	+0.0152%	1h	85,644.2	+0.068%	$892.8M	$1.53B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,612.4	+0.031%	$189.0M	$951.7M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0177% / S −0.0151%	1h	85,612.4	+0.031%	$13.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	85,684.7	+0.116%	$700K	$7.9M	30x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,632.7	+0.055%	$8.4M	$42.3M	25x	as long as short
Aftermath Perps BTCUSD	+0.0202%	1h	85,687.6	+0.119%	$78K	$219K	20x	as long as short
Kalshi KXBTCPERP	+0.0219%	8h	85,652	+0.077%	$10.7M	$758.8M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,627	+0.048%	$492K	$18.9M	6.7x	as long as short