Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0025%/8h= −2.7% APRpaid last 24h +0.005%

Price spread now: RISEx against Binance+0.007%7-day average +0.007% · 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−$17as in the Price arb table

costs, in and out, $10k−$170.170% of the position

Long on Binance Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days+0.021%+$2 · spread now +0.007%, 7d avg +0.007%

Together, before fees+0.028%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.007%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BTCUSDT	86,537.9	0.0077	pay 0.0077% / 8h	7h 58m	$9.44B	$24.55B	150x
Short	RISEx BTC/USDC	86,544.1	0.0052	get 0.0007% / 1h	58m 29s	$8.4M	$42.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$5.15
Price spread: +0.007% → +0.007%: $0.01
Slippage, 4 orders: −$0.99
Fee Binance: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$22.12
Costs to cover: 0.170%
Break-even: never at this rate

Slippage from Binance: live order book, 16 min ago; RISEx: live order book, 1 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, 16 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.1 bp −$607	7.5 bp −$3,732
Sell RISEx live order book, 1 min ago	0.01 bp	3.7 bp −$4	3.7 bp −$37	12.7 bp −$1,273	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	−0.8000%	1h	86,597	+0.068%	$140K	$663K	40x	as long as short
Phoenix BTC	−0.0118%	1h	86,586	+0.056%	$2.2M	$11.1M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,520	−0.021%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,540.9	+0.003%	$361K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,549.3	+0.013%	$414K	$22.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,558.2	+0.023%	$37.0M	—	200x	as long as short
Aster BTCUSDT	+0.0016%	8h	86,541.9	+0.005%	$502.0M	$1.15B	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,616	+0.090%	$333K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0027%	1h	86,556.2	+0.021%	$17.0M	$21.2M	50x	as long as short
KuCoin XBTUSDTM	+0.0028%	8h	86,526.9	−0.013%	$834.8M	$728.6M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0039%	1h	86,524.6	−0.015%	$6.7M	$145.7M	40x	as long as short
BingX BTC-USDC	+0.0045%	8h	86,530	−0.009%	—	$15.3M	—	as long as short
RISEx BTC/USDCshort	+0.0052%	1h	86,544.1	+0.007%	$8.4M	$42.8M	25x
Phemex BTCUSDT	+0.0057%	8h	86,583.4	+0.053%	$152.8M	$479.5M	150x	as long as short
Bitget BTCUSDT	+0.0058%	8h	86,522.9	−0.017%	$2.97B	$5.12B	150x	as long as short
SoDEX BTC-USD	+0.0066%	1h	86,578	+0.046%	$60.6M	$338.0M	40x	as long as short
MEXC BTC_USDT	+0.0076%	8h	86,530	−0.009%	$5.14B	$5.64B	500x	as long as short
Binance BTCUSDTlong	+0.0077%	8h	86,537.9	long leg	$9.44B	$24.55B	150x
Aevo BTC-PERP	+0.0080%	1h	86,576.3	+0.044%	$2.5M	$1.2M	20x	as long as short
Gate BTC_USDT	+0.0083%	8h	86,533.3	−0.005%	$5.88B	$10.42B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,526.3	−0.013%	$170.3M	$979.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,534.2	−0.004%	$23.7M	$148.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,524	−0.016%	$8.5M	$52.2M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,522.7	−0.018%	$5.27B	$9.80B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,513	−0.029%	$198K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,557.1	+0.022%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,548.5	+0.012%	$22.0M	$233.9M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,604	+0.076%	$3.80B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,553.4	+0.018%	$40.8M	$540.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,535	−0.003%	$2.55B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,539	+0.001%	$3.9M	$18.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,568.3	+0.035%	$7.3M	$96.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,523.6	−0.017%	$572.9M	$12.4M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,552.5	+0.017%	$38.2M	$156.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,554.4	+0.019%	$157.4M	$568.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,550.1	+0.014%	$279.6M	$948.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,585.4	+0.055%	$217.4M	$171.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,575	+0.043%	$141.8M	$323.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,590	+0.060%	$30.7M	$208.0M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,583.9	+0.053%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,523	−0.017%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,536	−0.002%	$194K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,574.5	+0.042%	$2.5M	$9.3M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,611.8	+0.085%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,586.5	+0.056%	$3.4M	$5.3M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,577.2	+0.045%	$2.30B	$970.2M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,510.4	−0.032%	$45.8M	$225.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,563.8	+0.030%	—	$100.1M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,626.5	+0.102%	$132.2M	$5.64B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,611.9	+0.086%	$193.5M	$952.6M	100x	as long as short
Aftermath Perps BTCUSD	+0.0163%	1h	86,564.6	+0.031%	$78K	$219K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0164%	1h	86,624.6	+0.100%	$910.2M	$1.50B	50x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	86,624.7	+0.100%	$717K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0197%	8h	86,561	+0.027%	$415.4M	$659.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0201% / S −0.0224%	1h	86,551.5	+0.016%	$14.9M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0210%	8h	86,606	+0.079%	$10.1M	$756.8M	6.4x	as long as short