Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0015%/8h= −1.7% APRpaid last 24h −0.023%

Price spread now: 01 Exchange against Aster+0.020%7-day average −0.004% · 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−$14as in the Price arb table

costs, in and out, $10k−$170.165% of the position

Long on Aster Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.072%−$7 on $10k

Price spread, last 7 days+0.006%+$1 · spread now +0.020%, 7d avg −0.004%

Together, before fees−0.066%+ Points / potential airdropAster: Stage 5 · farm board−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. 01 Exchange is 0.024% dearer against Aster than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.004%): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 5.1 days. At the pace of the last 3 days (−0.072% in total) that is about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BTCUSDT	86,485	−0.0001	get 0.0001% / 8h	32m 14s	$501.6M	$1.15B	200x
Short	01 Exchange BTCUSD	86,502	−0.0016	pay 0.0002% / 1h	32m 14s	$358K	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.020%Rate

Funding earned: −$3.24
Price spread: +0.020% → −0.004%: $2.37
Slippage, 4 orders: −$1.51
Fee Aster: 4 bp × 2 orders: −$8
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$17.39
Costs to cover: 0.165%
Break-even: never at this rate

Slippage from Aster: live order book, 2 min ago; 01 Exchange: 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 Aster live order book, 2 min ago	0.01 bp	4.0 bp −$4	4.6 bp −$46	4.9 bp −$491	7.2 bp −$3,615
Sell 01 Exchange live order book, 2 min ago	0.01 bp	4.1 bp −$4	8.2 bp −$82	doesn't fit	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
Phoenix BTC	−0.0118%	1h	86,543	+0.067%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,484	−0.001%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,568	+0.096%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,506.4	+0.025%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSDshort	−0.0016%	1h	86,502	+0.020%	$358K	$2.5M	50x
Aster BTCUSDTlong	−0.0001%	8h	86,485	long leg	$501.6M	$1.15B	200x
Deribit BTC-PERPETUAL	+0.0001%	1h	86,510.4	+0.029%	$915.1M	$1.48B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,512.2	+0.031%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0016%	8h	86,475.1	−0.011%	$850.4M	$715.5M	125x	as long as short
Reya BTCRUSDPERP	+0.0030%	1h	86,493.5	+0.010%	$6.7M	$145.4M	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-USDC	+0.0042%	8h	86,460.5	−0.028%	—	$15.4M	—	as long as short
dYdX BTC-USD	+0.0044%	1h	86,539	+0.063%	$17.0M	$21.1M	50x	as long as short
Phemex BTCUSDT	+0.0049%	8h	86,484.3	−0.001%	$150.7M	$478.6M	150x	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,468.3	−0.019%	$2.96B	$5.13B	150x	as long as short
Binance BTCUSDT	+0.0071%	8h	86,476.1	−0.010%	$9.43B	$24.56B	150x	as long as short
MEXC BTC_USDT	+0.0071%	8h	86,472.8	−0.014%	$5.16B	$5.65B	500x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,462.6	−0.026%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0083%	8h	86,493.3	+0.010%	$5.87B	$10.76B	200x	as long as short
SoDEX BTC-USD	+0.0093%	1h	86,469	−0.018%	$60.5M	$337.8M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,482.3	−0.003%	$170.3M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,490.5	+0.006%	$24.0M	$151.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,490	+0.006%	$8.5M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,470.8	−0.016%	$5.26B	$9.82B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,474	−0.013%	$198K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,527.2	+0.049%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,484	−0.001%	$21.8M	$234.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,564	+0.091%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,524.2	+0.045%	$40.8M	$527.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,480	−0.006%	$2.55B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,496	+0.013%	$3.9M	$18.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,531.5	+0.054%	$7.5M	$95.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,470.3	−0.017%	$38.2M	$155.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,514.5	+0.034%	$157.4M	$567.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,535.4	+0.058%	$279.5M	$947.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,546.5	+0.071%	$217.3M	$171.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,514.6	+0.034%	$141.4M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,475.4	−0.011%	$30.7M	$205.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,535.1	+0.058%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,492	+0.008%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,494	+0.010%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,496.1	+0.013%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,524.4	+0.046%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,508.8	+0.028%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,482.8	−0.003%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,470.1	−0.017%	$2.29B	$969.8M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,562.5	+0.090%	$572.7M	$17.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,457.1	−0.032%	$45.5M	$227.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,507.2	+0.026%	—	$98.8M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,500.3	+0.018%	$194.0M	$952.2M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,501.1	+0.019%	$416K	$23.1M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,518.8	+0.039%	$132.2M	$5.66B	50x	as long as short
Aftermath Perps BTCUSD	+0.0137%	1h	86,545.1	+0.070%	$79K	$218K	20x	as long as short
BloFin BTC-USDT	+0.0191%	8h	86,490.5	+0.006%	$415.4M	$658.5M	150x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	86,523	+0.044%	$728K	$8.1M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0194% / S −0.0217%	1h	86,508.6	+0.027%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0208%	8h	86,519	+0.039%	$9.7M	$745.6M	6.4x	as long as short