Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0081%/8h= +8.9% APRpaid last 24h +0.021%

Price spread now: Polymarket Perps against BingX+0.115%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

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

costs, in and out, $10k−$200.200% of the position

Long on BingX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.087%+$9 on $10k

Price spread, last 7 days−0.112%−$11 · spread now +0.115%, 7d avg +0.029%

Together, before fees−0.025%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.086% dearer against BingX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BTC-USDC	86,706	0.0019	pay 0.0019% / 8h	2h 54m	—	$15.3M	—
Short	Polymarket Perps BTC-USD	86,806	0.0100	get 0.0013% / 1h	54m 52s	$11.1M	$13.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.115%Rate

Funding earned: $17.01
Price spread: +0.115% → +0.029%: $8.64
Slippage, 4 orders: −$1.95
Fee BingX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $5.7
Costs to cover: 0.200%
Break-even: 4.7 days

Slippage from BingX: live order book, 13 min ago; Polymarket Perps: 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 BingX live order book, 13 min ago	0.01 bp	5.0 bp −$5	5.5 bp −$55	5.7 bp −$573	7.1 bp −$3,531
Sell Polymarket Perps live order book, 4 min ago	0.46 bp	4.6 bp −$5	5.4 bp −$54	7.9 bp −$794	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
Perpl BTC	−0.0335%	43m	86,759.6	+0.062%	$420K	$25.5M	6.7x	as long as short
Aftermath Perps BTCUSD	−0.0185%	1h	86,860.1	+0.178%	$85K	$188K	20x	as long as short
Phoenix BTC	−0.0123%	1h	86,795	+0.103%	$2.2M	$12.4M	40x	as long as short
dYdX BTC-USD	−0.0093%	1h	86,756.9	+0.059%	$18.1M	$19.9M	50x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,790	+0.097%	$9K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0001%	8h	86,749.4	+0.050%	$844.3M	$704.8M	125x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,806	+0.115%	$363K	$2.5M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	86,799	+0.107%	$8.9M	$724.7M	6.4x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,840.4	+0.155%	$922.7M	$1.38B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,822	+0.134%	$36.7M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin BTC-PERP	+0.0008%	1h	86,782	+0.088%	$160K	$575K	40x	as long as short
Aster BTCUSDT	+0.0016%	8h	86,752.9	+0.054%	$506.5M	$1.16B	200x	as long as short
Phemex BTCUSDT	+0.0016%	8h	86,792.7	+0.100%	$149.5M	$468.6M	150x	as long as short
BingX BTC-USDClong	+0.0019%	8h	86,706	long leg	—	$15.3M	—
Reya BTCRUSDPERP	+0.0021%	1h	86,803.3	+0.112%	$6.8M	$143.8M	40x	as long as short
Bitget BTCUSDT	+0.0025%	8h	86,711.4	+0.006%	$2.96B	$5.08B	150x	as long as short
MEXC BTC_USDT	+0.0046%	8h	86,731.2	+0.029%	$5.20B	$5.61B	500x	as long as short
Binance BTCUSDT	+0.0046%	8h	86,741.4	+0.041%	$9.46B	$24.34B	150x	as long as short
Aevo BTC-PERP	+0.0048%	1h	86,794.6	+0.102%	$2.4M	$1.3M	20x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,984	+0.321%	$316K	$26.8M	52x	as long as short
OKX BTC-USDT-SWAP	+0.0055%	8h	86,729.5	+0.027%	$2.58B	$12.72B	100x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,777.5	+0.083%	$9.3M	$42.0M	25x	as long as short
Gate BTC_USDT	+0.0063%	8h	86,720.9	+0.017%	$5.86B	$10.53B	200x	as long as short
Bybit BTCUSDT	+0.0078%	8h	86,718.6	+0.014%	$5.29B	$9.68B	150x	as long as short
Popdex BTCUSDT	+0.0088%	1h	86,780	+0.085%	$8.5M	$52.2M	100x	as long as short
Variational Omni BTC	+0.0088%	8h	86,792.9	+0.100%	$161.2M	$563.4M	—	as long as short
SoDEX BTC-USD	+0.0089%	1h	86,800	+0.108%	$60.6M	$336.5M	40x	as long as short
GRVT BTC_USDT_Perp	+0.0094%	8h	86,810.6	+0.121%	$218.0M	$191.1M	50x	as long as short
Lighter BTC	+0.0096%	1h	86,809.3	+0.119%	$172.7M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,818.3	+0.130%	$24.2M	$152.4M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0097%	8h	86,814.9	+0.126%	$2.5M	$8.4M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,789.7	+0.096%	$4.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,766	+0.069%	$201K	$6.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,735.2	+0.034%	$22.0M	$237.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,800	+0.108%	$3.86B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,782	+0.088%	$41.6M	$484.5M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,745	+0.045%	$3.9M	$18.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,829.9	+0.143%	$7.6M	$95.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,919.5	+0.246%	$573.8M	$23.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,807.6	+0.117%	$38.4M	$147.9M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,804.8	+0.114%	$280.4M	$944.7M	100x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,805.9	+0.115%	$142.0M	$322.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,839	+0.153%	$30.9M	$205.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,845.6	+0.161%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USDshort	+0.0100%	1h	86,806	+0.115%	$11.1M	$13.7M	50x
Bullet BTC-USD	+0.0100%	1h	86,800.1	+0.108%	$202K	$3.4M	20x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,802.3	+0.111%	$30.1M	$61.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,802.8	+0.112%	$3.4M	$5.6M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,793.2	+0.101%	$2.31B	$954.3M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,716.1	+0.012%	$46.2M	$228.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,766.6	+0.070%	—	$97.8M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0116%	1h	86,839.4	+0.154%	$193.2M	$926.1M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,847	+0.163%	$132.3M	$5.94B	50x	as long as short
BloFin BTC-USDT	+0.0166%	8h	86,801	+0.110%	$420.1M	$642.2M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0181% / S −0.0200%	1h	86,817.3	+0.128%	$15.5M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	86,798.4	+0.107%	$752K	$7.0M	30x	as long as short