Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0039%/8h= +4.3% APRpaid last 24h −0.001%

Price spread now: edgeX against BingX+0.038%7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$190.192% of the position

Long on BingX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.152%−$15 on $10k

Price spread, last 7 days−0.057%−$6 · spread now +0.038%, 7d avg −0.039%

Together, before fees−0.209%+ Points / potential airdropedgeX: Active · farm board−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and edgeX is 0.077% dearer against BingX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.039%. Mind the row above: over the last 7 days funding on this pair cost −0.152%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BTC-USDT	85,516.4	0.0061	pay 0.0061% / 8h	4h 28m	—	$1.55B	—
Short	edgeX BTCUSDC	85,549.1	0.0100	get 0.0050% / 4h	28m 55s	$279.5M	$920.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against BingX. 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 BingXbpFee edgeXbpOrdersPrice spread, now +0.038%Rate

Funding earned: $8.19
Price spread: +0.038% → −0.039%: $7.72
Slippage, 4 orders: −$0.16
Fee BingX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$3.25
Costs to cover: 0.192%
Break-even: 9.8 days

Slippage from BingX: live order book, 10 min ago; edgeX: 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 BingX live order book, 10 min ago	0.02 bp	5.1 bp −$5	5.2 bp −$52	5.5 bp −$553	5.9 bp −$2,928
Sell edgeX live order book, 5 min ago	0.02 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$470	5.8 bp −$2,887

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	−0.0179%	1h	85,566	+0.058%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,578	+0.072%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,547.8	+0.037%	$365K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0023%	8h	85,567.7	+0.060%	$416.6M	$668.2M	150x	as long as short
KuCoin XBTUSDTM	−0.0015%	8h	85,489.9	−0.031%	$920.6M	$750.5M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,582.8	+0.078%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0015%	8h	85,542.4	+0.030%	$515.5M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0018%	1h	85,591.7	+0.088%	$16.7M	$21.3M	50x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,535.1	+0.022%	$4.6M	$98.3M	40x	as long as short
Nado BTC-PERP	+0.0032%	1h	85,557	+0.047%	$25.5M	$221.9M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDTlong	+0.0061%	8h	85,516.4	long leg	—	$1.55B	—
Phemex BTCUSDT	+0.0075%	8h	85,559.4	+0.050%	$147.6M	$487.1M	150x	as long as short
Bluefin BTC-PERP	+0.0076%	1h	85,614.8	+0.115%	$207K	$738K	40x	as long as short
Bitget BTCUSDT	+0.0077%	8h	85,509.4	−0.008%	$2.95B	$5.07B	150x	as long as short
Reya BTCRUSDPERP	+0.0081%	1h	85,566	+0.058%	$6.7M	$146.7M	40x	as long as short
MEXC BTC_USDT	+0.0095%	8h	85,513.2	−0.004%	$5.06B	$5.63B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,566.3	+0.058%	$173.0M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,582.2	+0.077%	$23.9M	$149.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,551	+0.040%	$8.4M	$52.8M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,564.8	+0.057%	$2.5M	$1.7M	20x	as long as short
Binance BTCUSDT	+0.0097%	8h	85,514.1	−0.003%	$9.36B	$24.12B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,523	+0.008%	$212K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,619.7	+0.121%	$4.6M	$8.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,612	+0.112%	$3.75B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,588.2	+0.084%	$40.8M	$580.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,516.6	0.000%	$5.22B	$9.78B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,526.9	+0.012%	$2.58B	$12.16B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,540	+0.028%	$3.9M	$18.1M	25x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,518.9	+0.003%	$5.51B	$10.69B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,529.6	+0.015%	$35.7M	$176.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,543.7	+0.032%	$153.8M	$564.0M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	85,549.1	+0.038%	$279.5M	$920.8M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,566.3	+0.058%	$214.8M	$169.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,483.1	−0.039%	$139.8M	$314.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,567	+0.059%	$30.2M	$208.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,619.4	+0.120%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,562	+0.053%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,577.9	+0.072%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,574.8	+0.068%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,563	+0.055%	$30.0M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,595.1	+0.092%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,568	+0.060%	$60.0M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,552.1	+0.042%	$2.27B	$942.6M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,369.3	−0.172%	$653.8M	$618.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,488.3	−0.033%	$44.5M	$228.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,564.9	+0.057%	—	$107.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,605.1	+0.104%	$117.1M	$5.18B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0138%	1h	85,611.9	+0.112%	$884.2M	$1.56B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,539	+0.026%	$340K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,581.5	+0.076%	$187.7M	$955.0M	100x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,573.9	+0.067%	$8.2M	$42.5M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0177%	1h	85,583.7	+0.079%	$13.4M	—	200x	as long as short
Aftermath Perps BTCUSD	+0.0202%	1h	85,527.9	+0.013%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0208%	1h	85,602.9	+0.101%	$700K	$7.9M	30x	as long as short
Kalshi KXBTCPERP	+0.0218%	8h	85,595	+0.092%	$10.4M	$757.8M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,594.4	+0.091%	$503K	$18.8M	6.7x	as long as short