Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0025%/8h= −2.7% APRpaid last 24h −0.016%

Price spread now: 01 Exchange against Bitget+0.033%7-day average −0.003% · 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−$210.207% of the position

Long on Bitget Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.057%−$6 on $10k

Price spread, last 7 days−0.018%−$2 · spread now +0.033%, 7d avg −0.003%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. 01 Exchange is 0.036% dearer against Bitget than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.003%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.8 days. At the pace of the last 3 days (−0.057% in total) that is about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BTCUSDT	86,799.7	0.0025	pay 0.0025% / 8h	2h 57m	$2.96B	$5.09B	150x
Short	01 Exchange BTCUSD	86,828.7	0	get 0.0000% / 1h	57m 25s	$364K	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against Bitget. 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 BitgetbpFee 01 ExchangebpOrdersPrice spread, now +0.033%Rate

Funding earned: −$5.25
Price spread: +0.033% → −0.003%: $3.59
Slippage, 4 orders: −$1.75
Fee Bitget: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$22.4
Costs to cover: 0.207%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; 01 Exchange: live order book, 2 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 Bitget live order book, 2 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.5 bp −$646	doesn't fit
Sell 01 Exchange live order book, 2 min ago	0.01 bp	4.8 bp −$5	9.9 bp −$99	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
Perpl BTC	−0.0335%	43m	86,809.2	+0.011%	$418K	$25.5M	6.7x	as long as short
Aftermath Perps BTCUSD	−0.0180%	1h	86,904.4	+0.121%	$85K	$188K	20x	as long as short
Phoenix BTC	−0.0123%	1h	86,795	−0.005%	$2.2M	$12.4M	40x	as long as short
dYdX BTC-USD	−0.0096%	1h	86,803.3	+0.004%	$18.1M	$20.0M	50x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,856	+0.065%	$9K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0001%	8h	86,807.6	+0.009%	$838.8M	$709.1M	125x	as long as short
01 Exchange BTCUSDshort	0.0000%	1h	86,828.7	+0.033%	$364K	$2.5M	50x
Deribit BTC-PERPETUAL	0.0000%	1h	86,847.7	+0.055%	$923.7M	$1.38B	50x	as long as short
Bluefin BTC-PERP	+0.0002%	1h	86,783.7	−0.018%	$160K	$575K	40x	as long as short
SoDEX BTC-USD	+0.0002%	1h	86,776	−0.027%	$60.6M	$336.5M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,826.9	+0.031%	$36.7M	—	200x	as long as short
Phemex BTCUSDT	+0.0015%	8h	86,773.5	−0.030%	$149.0M	$468.5M	150x	as long as short
BingX BTC-USDC	+0.0018%	8h	86,797.4	−0.003%	—	$15.3M	—	as long as short
Aster BTCUSDT	+0.0020%	8h	86,782.1	−0.020%	$506.5M	$1.17B	200x	as long as short
Reya BTCRUSDPERP	+0.0021%	1h	86,802.2	+0.003%	$6.8M	$143.7M	40x	as long as short
Bitget BTCUSDTlong	+0.0025%	8h	86,799.7	long leg	$2.96B	$5.09B	150x
MEXC BTC_USDT	+0.0046%	8h	86,803.1	+0.004%	$5.21B	$5.60B	500x	as long as short
ApeX Omni BTCUSDT	+0.0047%	1h	86,939.6	+0.161%	$142.3M	$322.7M	100x	as long as short
Binance BTCUSDT	+0.0047%	8h	86,800	0.000%	$9.46B	$24.41B	150x	as long as short
Aevo BTC-PERP	+0.0048%	1h	86,807.6	+0.009%	$2.4M	$1.3M	20x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,984	+0.212%	$316K	$26.8M	52x	as long as short
OKX BTC-USDT-SWAP	+0.0054%	8h	86,802.9	+0.004%	$2.59B	$12.75B	100x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,826	+0.030%	$9.3M	$42.1M	25x	as long as short
Gate BTC_USDT	+0.0063%	8h	86,796.6	−0.004%	$5.86B	$10.52B	200x	as long as short
Bybit BTCUSDT	+0.0078%	8h	86,801.6	+0.002%	$5.31B	$9.75B	150x	as long as short
Popdex BTCUSDT	+0.0080%	1h	86,805	+0.006%	$8.5M	$52.2M	100x	as long as short
Variational Omni BTC	+0.0087%	8h	87,051.5	+0.290%	$161.3M	$562.4M	—	as long as short
Lighter BTC	+0.0096%	1h	86,826.2	+0.031%	$172.6M	$999.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,837.7	+0.044%	$24.2M	$152.3M	50x	as long as short
GRVT BTC_USDT_Perp	+0.0096%	8h	86,931.5	+0.152%	$218.3M	$190.1M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0097%	8h	86,815.6	+0.018%	$2.5M	$8.4M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,845.9	+0.053%	$4.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,800	0.000%	$190K	$6.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,812.1	+0.014%	$23.2M	$238.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,890	+0.104%	$3.86B	$5.14B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,839.2	+0.045%	$41.6M	$484.5M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,805	+0.006%	$4.0M	$18.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,877.3	+0.089%	$7.6M	$95.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,919.5	+0.138%	$573.8M	$23.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,771.7	−0.032%	$38.4M	$147.9M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,943.1	+0.165%	$280.8M	$943.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,864.8	+0.075%	$30.9M	$205.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,883.9	+0.097%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,824	+0.028%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,802	+0.003%	$202K	$3.4M	20x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,808.1	+0.010%	$30.1M	$61.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,803.2	+0.004%	$3.4M	$5.6M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,776.1	−0.027%	$2.31B	$955.8M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,793.6	−0.007%	$46.3M	$230.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,837.5	+0.044%	—	$98.1M	500x	as long as short
Kalshi KXBTCPERP	+0.0105%	8h	86,879	+0.091%	$8.8M	$728.8M	6.4x	as long as short
Kraken Futures PF_XBTUSD	+0.0116%	1h	86,810.7	+0.013%	$195.0M	$928.0M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,831.4	+0.037%	$132.3M	$5.98B	50x	as long as short
BloFin BTC-USDT	+0.0167%	8h	86,893.9	+0.109%	$420.5M	$644.3M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0181% / S −0.0200%	1h	86,823.7	+0.028%	$15.5M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	86,877.5	+0.090%	$753K	$7.0M	30x	as long as short