Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0025%/8h= +2.8% APRpaid last 24h −0.022%

Price spread now: edgeX against Binance−0.059%70s7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.190% of the position

Long on Binance Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.191%−$19 on $10k

Price spread, last 7 days+0.041%+$4 · spread now −0.059%, 7d avg −0.040%

Together, before fees−0.151%+ Points / potential airdropedgeX: Active · farm board−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.040%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.191%, so the current rate has only just turned in your favour. The two prices were read 70 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	Binance BTCUSDT	86,493.2	0.0075	pay 0.0075% / 8h	6m 21s	$9.44B	$24.53B	150x
Short	edgeX BTCUSDC	86,442.3	0.0100	get 0.0050% / 4h	6m 21s	$279.2M	$947.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Binance. 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 BinancebpFee edgeXbpOrdersPrice spread, now −0.059%Rate

Funding earned: $5.34
Price spread: −0.059% → −0.040%: −$1.89
Slippage, 4 orders: −$0.05
Fee Binance: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$15.6
Costs to cover: 0.190%
Break-even: 27.5 days

Slippage from Binance: live order book, 8 min ago; edgeX: 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 Binance live order book, 8 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.1 bp −$607	7.5 bp −$3,732
Sell edgeX live order book, 3 min ago	0.02 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$471	5.7 bp −$2,827

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	86,444	−0.057%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,523	+0.034%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,345	−0.171%	$332K	$26.9M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,527.1	+0.039%	$8.3M	$42.7M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,526.2	+0.038%	$360K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,528.3	+0.041%	$412K	$22.5M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,511.2	+0.021%	$36.8M	—	200x	as long as short
Aster BTCUSDT	+0.0011%	8h	86,522.4	+0.034%	$501.9M	$1.15B	200x	as long as short
KuCoin XBTUSDTM	+0.0023%	8h	86,528.1	+0.040%	$834.6M	$728.5M	125x	as long as short
Reya BTCRUSDPERP	+0.0037%	1h	86,494.8	+0.002%	$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-USDC	+0.0043%	8h	86,483.4	−0.011%	—	$15.4M	—	as long as short
Phemex BTCUSDT	+0.0056%	8h	86,520.6	+0.032%	$151.5M	$478.8M	150x	as long as short
Bitget BTCUSDT	+0.0056%	8h	86,495.2	+0.002%	$2.97B	$5.12B	150x	as long as short
dYdX BTC-USD	+0.0063%	1h	86,506.6	+0.015%	$16.9M	$21.2M	50x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,482.4	−0.013%	$2.5M	$1.4M	20x	as long as short
MEXC BTC_USDT	+0.0074%	8h	86,507.6	+0.017%	$5.16B	$5.69B	500x	as long as short
Binance BTCUSDTlong	+0.0075%	8h	86,493.2	long leg	$9.44B	$24.53B	150x
Gate BTC_USDT	+0.0081%	8h	86,494.2	+0.001%	$5.85B	$10.81B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,540.4	+0.055%	$170.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,540.5	+0.055%	$23.8M	$153.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,513	+0.023%	$8.5M	$52.3M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,493.6	+0.001%	$5.26B	$9.79B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,501	+0.009%	$195K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,558.3	+0.075%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,541.7	+0.056%	$21.7M	$233.9M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,595	+0.118%	$3.80B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,552.5	+0.069%	$41.1M	$538.1M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,500.3	+0.008%	$2.55B	$12.74B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,540	+0.054%	$3.9M	$18.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,552.1	+0.068%	$7.3M	$96.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,515.1	+0.025%	$38.1M	$155.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,474	−0.022%	$157.6M	$567.5M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	86,442.3	−0.059%	$279.2M	$947.3M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,461.1	−0.037%	$217.1M	$172.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,464.5	−0.033%	$141.5M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,481.4	−0.014%	$30.7M	$207.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,561.5	+0.079%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,517	+0.028%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,489	−0.005%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,492.6	−0.001%	$2.5M	$9.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,527	+0.039%	$141K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,521.9	+0.033%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,482.5	−0.012%	$3.4M	$5.3M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,494	+0.001%	$60.5M	$338.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,504.3	+0.013%	$2.30B	$968.2M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,452.9	−0.047%	$572.2M	$12.3M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,470.6	−0.026%	$45.8M	$225.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,555	+0.071%	—	$100.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,534	+0.047%	$193.0M	$953.1M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,568.6	+0.087%	$132.2M	$5.64B	50x	as long as short
Aftermath Perps BTCUSD	+0.0162%	1h	86,506.1	+0.015%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	86,525.2	+0.037%	$717K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0194%	8h	86,523.4	+0.035%	$415.5M	$659.2M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0200% / S −0.0224%	1h	86,505.4	+0.014%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0208%	8h	86,542	+0.056%	$10.3M	$753.0M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0268%	1h	86,550	+0.066%	$913.1M	$1.49B	50x	as long as short