Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0081%/8h= +8.9% APRpaid last 24h +0.004%

Price spread now: Arcus against Aster−0.037%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−$21as in the Price arb table

costs, in and out, $10k−$140.141% of the position

Long on Aster Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.016%+$2 on $10k

Price spread, last 7 days+0.053%+$5 · spread now −0.037%, 7d avg +0.031%

Together, before fees+0.069%+ Points / potential airdropAster: Stage 5 · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.068% cheaper against Aster than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of +0.031%). If the spread goes back, that is −$7 on $10k: about 2.8 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.016% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BTCUSDT	85,756.7	0.0019	pay 0.0019% / 8h	5h 19m	$516.7M	$1.10B	200x
Short	Arcus BTC-USD	85,724.9	0.0100	get 0.0013% / 1h	19m 10s	$6.8M	$97.5M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Aster. 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 AsterbpFee ArcusbpOrdersPrice spread, now −0.037%Rate

Funding earned: $17.07
Price spread: −0.037% → +0.031%: −$6.84
Slippage, 4 orders: −$1.63
Fee Aster: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$3.9
Costs to cover: 0.141%
Break-even: 8.6 days

Slippage from Aster: live order book, 5 min ago; Arcus: live order book, 5 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 Aster live order book, 5 min ago	0.01 bp	4.0 bp −$4	4.1 bp −$41	5.0 bp −$497	6.7 bp −$3,328
Sell Arcus live order book, 5 min ago	0.01 bp	3.8 bp −$4	4.7 bp −$47	5.7 bp −$571	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	−0.0906%	1h	85,779.5	+0.027%	$196K	$721K	40x	as long as short
Phoenix BTC	−0.0160%	1h	85,789	+0.038%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,768	+0.013%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,748.9	−0.009%	$369K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0034%	8h	85,764.8	+0.009%	$416.5M	$665.3M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,796.5	+0.046%	$16.8M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,786.8	+0.035%	$36.7M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0005%	8h	85,760.4	+0.004%	$918.7M	$751.3M	125x	as long as short
Nado BTC-PERP	+0.0010%	1h	85,750.6	−0.007%	$22.6M	$219.8M	50x	as long as short
Aster BTCUSDTlong	+0.0019%	8h	85,756.7	long leg	$516.7M	$1.10B	200x

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0055%	8h	85,760.2	+0.004%	—	$17.0M	—	as long as short
Bitget BTCUSDT	+0.0070%	8h	85,767.8	+0.013%	$2.95B	$5.01B	150x	as long as short
Reya BTCRUSDPERP	+0.0071%	1h	85,755.9	−0.001%	$6.7M	$146.5M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0072%	1h	85,803.6	+0.055%	$891.5M	$1.53B	50x	as long as short
Phemex BTCUSDT	+0.0078%	8h	85,769.9	+0.015%	$148.4M	$479.7M	150x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,807	+0.059%	$341K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,752.9	−0.004%	$2.5M	$1.7M	20x	as long as short
HTX BTC-USDT	+0.0082%	8h	85,764.7	+0.009%	$2.27B	$935.6M	200x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,764.7	+0.009%	$5.06B	$5.63B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,765.2	+0.010%	$9.36B	$23.87B	150x	as long as short
SunX BTC-USDT	+0.0092%	8h	85,737.7	−0.022%	$2.9M	$6.1M	100x	as long as short
Lighter BTC	+0.0096%	1h	85,774.8	+0.021%	$170.2M	$994.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,775.3	+0.022%	$24.0M	$148.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,751	−0.007%	$8.4M	$52.2M	100x	as long as short
SoDEX BTC-USD	+0.0097%	1h	85,764	+0.009%	$60.1M	$336.1M	40x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,797.8	+0.048%	$3.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,721	−0.042%	$199K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,830.4	+0.086%	$3.75B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,786.1	+0.034%	$40.2M	$577.3M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,772.9	+0.019%	$5.34B	$9.56B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,772.5	+0.018%	$2.58B	$12.11B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,750	−0.008%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USDshort	+0.0100%	1h	85,724.9	−0.037%	$6.8M	$97.5M	40x
Gate BTC_USDT	+0.0100%	8h	85,771	+0.017%	$5.56B	$10.54B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,735.4	−0.025%	$35.1M	$172.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,772.2	+0.018%	$155.9M	$551.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,770.5	+0.016%	$280.2M	$921.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,717.9	−0.045%	$215.3M	$166.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,808.4	+0.060%	$140.4M	$314.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,798.8	+0.049%	$30.3M	$209.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,806.9	+0.059%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,762	+0.006%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,777.3	+0.024%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,755.5	−0.001%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,763.4	+0.008%	$30.0M	$50.9M	15x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,681.9	−0.087%	$628.9M	$439.0M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,741	−0.018%	$44.2M	$226.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,757.8	+0.001%	—	$106.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,810	+0.062%	$130.5M	$5.09B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,779	+0.026%	$8.4M	$42.1M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,793	+0.042%	$188.9M	$951.8M	100x	as long as short
Aftermath Perps BTCUSD	+0.0198%	1h	85,759.2	+0.003%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,783.5	+0.031%	$703K	$7.8M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0178%	1h	85,779.4	+0.026%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0218%	8h	85,785	+0.033%	$10.6M	$757.9M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,759.6	+0.003%	$510K	$19.2M	6.7x	as long as short