Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.023%

Price spread now: 01 Exchange against Binance+0.007%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−$17as in the Price arb table

costs, in and out, $10k−$180.183% of the position

Long on Binance Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.076%−$8 on $10k

Price spread, last 7 days+0.013%+$1 · spread now +0.007%, 7d avg −0.004%

Together, before fees−0.063%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.004%, so right now this pair is about funding alone: −$2 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	86,622	0.0052	pay 0.0052% / 8h	2h 35m	$9.44B	$24.30B	150x
Short	01 Exchange BTCUSD	86,628.2	0	get 0.0000% / 1h	35m 36s	$361K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.007%Rate

Funding earned: −$10.95
Price spread: +0.007% → −0.004%: $1.16
Slippage, 4 orders: −$1.25
Fee Binance: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$28.04
Costs to cover: 0.183%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; 01 Exchange: live order book, 4 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, 9 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.8 bp −$581	7.4 bp −$3,715
Sell 01 Exchange live order book, 4 min ago	0.02 bp	4.7 bp −$5	10.1 bp −$101	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
Aftermath Perps BTCUSD	−0.0225%	1h	86,599.3	−0.026%	$85K	$188K	20x	as long as short
Perpl BTC	−0.0223%	43m	86,625.6	+0.004%	$428K	$25.0M	6.7x	as long as short
Phoenix BTC	−0.0103%	1h	86,539	−0.096%	$2.2M	$12.4M	40x	as long as short
dYdX BTC-USD	−0.0088%	1h	86,624.9	+0.003%	$17.6M	$20.6M	50x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,559	−0.073%	$9K	$3K	50x	as long as short
01 Exchange BTCUSDshort	0.0000%	1h	86,628.2	+0.007%	$361K	$2.4M	50x
Deribit BTC-PERPETUAL	0.0000%	1h	86,584.4	−0.043%	$935.8M	$1.43B	50x	as long as short
KuCoin XBTUSDTM	+0.0001%	8h	86,598.8	−0.027%	$844.1M	$704.5M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,577	−0.052%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0008%	8h	86,603.8	−0.021%	$505.7M	$1.16B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0021%	1h	86,617.9	−0.005%	$6.7M	$144.3M	40x	as long as short
BingX BTC-USDT	+0.0022%	8h	86,604.7	−0.020%	—	$1.59B	—	as long as short
Bitget BTCUSDT	+0.0029%	8h	86,619.4	−0.003%	$2.95B	$5.07B	150x	as long as short
Phemex BTCUSDT	+0.0029%	8h	86,553.4	−0.079%	$149.5M	$471.0M	150x	as long as short
Aevo BTC-PERP	+0.0048%	1h	86,552.6	−0.080%	$2.4M	$1.3M	20x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,732	+0.127%	$315K	$26.8M	52x	as long as short
MEXC BTC_USDT	+0.0051%	8h	86,603.1	−0.022%	$5.18B	$5.67B	500x	as long as short
Binance BTCUSDTlong	+0.0052%	8h	86,622	long leg	$9.44B	$24.30B	150x
RISEx BTC/USDC	+0.0063%	1h	86,616.1	−0.007%	$9.2M	$42.0M	25x	as long as short
OKX BTC-USDT-SWAP	+0.0070%	8h	86,625.3	+0.004%	$2.56B	$12.70B	100x	as long as short
Gate BTC_USDT	+0.0071%	8h	86,609.3	−0.015%	$5.86B	$10.63B	200x	as long as short
Bybit BTCUSDT	+0.0081%	8h	86,623	+0.001%	$5.27B	$9.67B	150x	as long as short
Variational Omni BTC	+0.0091%	8h	86,619.6	−0.003%	$160.0M	$567.4M	—	as long as short
Lighter BTC	+0.0096%	1h	86,618.5	−0.004%	$172.1M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,624.2	+0.003%	$24.0M	$153.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,607	−0.017%	$8.5M	$52.1M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,681.3	+0.068%	$4.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,588	−0.039%	$195K	$6.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,595	−0.031%	$21.6M	$235.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,662	+0.046%	$3.82B	$5.12B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,629.1	+0.008%	$41.3M	$490.3M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,608	−0.016%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,672.2	+0.058%	$7.5M	$93.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,606.9	−0.017%	$571.9M	$22.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,556.6	−0.076%	$38.0M	$148.4M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,571.5	−0.058%	$279.6M	$949.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,662	+0.046%	$217.6M	$187.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,686.6	+0.075%	$141.7M	$322.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,590.4	−0.036%	$30.8M	$205.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,669.5	+0.055%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,626	+0.005%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,583.7	−0.044%	$194K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,572.1	−0.058%	$2.5M	$8.5M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,577.3	−0.052%	$140K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,559.9	−0.072%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,591.9	−0.035%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,553	−0.080%	$60.4M	$336.4M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,549.1	−0.084%	$2.30B	$957.0M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,595.1	−0.031%	$46.4M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,602.3	−0.023%	—	$98.3M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0117%	1h	86,588.8	−0.038%	$189.1M	$930.4M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,601.8	−0.023%	$131.7M	$5.86B	50x	as long as short
Kalshi KXBTCPERP	+0.0123%	8h	86,613	−0.010%	$8.9M	$723.3M	6.4x	as long as short
BloFin BTC-USDT	+0.0170%	8h	86,675.1	+0.061%	$417.6M	$650.6M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0178% / S −0.0185%	1h	86,587.8	−0.040%	$14.9M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	86,617.4	−0.005%	$614K	$7.1M	30x	as long as short