Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.025%

Price spread now: Aevo against BloFin+0.021%53s7-day average −0.010% · 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—prices read too far apart to compare

costs, in and out, $10k−$320.315% of the position

Long on BloFin Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now +0.021%, 7d avg −0.010%

Together, before fees−0.034%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Aevo is 0.032% dearer against BloFin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.010%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BTC-USDT	85,600	−0.0020	get 0.0020% / 8h	4h 00m	$417.7M	$670.1M	150x
Short	Aevo BTC-PERP	85,618.2	0.0096	get 0.0012% / 1h	0m 19s	$2.5M	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against BloFin. 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 BloFinbpFee AevobpOrdersPrice spread, now +0.021%Rate

Funding earned: $24.36
Price spread: +0.021% → −0.010%: $3.16
Slippage, 4 orders: −$3.54
Fee BloFin: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$4.02
Costs to cover: 0.315%
Break-even: 8.2 days

Slippage from BloFin: live order book, 4 min ago; Aevo: 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 BloFin live order book, 4 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.5 bp −$648	6.9 bp −$3,438
Sell Aevo live order book, 4 min ago	1.13 bp	9.3 bp −$9	11.2 bp −$112	13.7 bp −$1,368	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
Phoenix BTC	−0.0179%	1h	85,565	−0.041%	$2.1M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,581	−0.022%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,603.9	+0.005%	$367K	$2.3M	50x	as long as short
KuCoin XBTUSDTM	−0.0035%	8h	85,597.1	−0.003%	$922.0M	$752.1M	125x	as long as short
BloFin BTC-USDTlong	−0.0020%	8h	85,600	long leg	$417.7M	$670.1M	150x
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,636.3	+0.042%	$36.6M	—	200x	as long as short
dYdX BTC-USD	+0.0010%	1h	85,629.7	+0.035%	$16.8M	$21.3M	50x	as long as short
Nado BTC-PERP	+0.0011%	1h	85,600.6	+0.001%	$25.0M	$221.9M	50x	as long as short
Aster BTCUSDT	+0.0014%	8h	85,615.2	+0.018%	$516.1M	$1.10B	200x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,603.5	+0.004%	$4.2M	$98.2M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0063%	8h	85,633.6	+0.039%	—	$1.54B	—	as long as short
Phemex BTCUSDT	+0.0069%	8h	85,606.1	+0.007%	$148.5M	$489.1M	150x	as long as short
Bitget BTCUSDT	+0.0079%	8h	85,630.7	+0.036%	$2.96B	$5.08B	150x	as long as short
Bluefin BTC-PERP	+0.0081%	1h	85,675.6	+0.088%	$207K	$739K	40x	as long as short
Deribit BTC-PERPETUAL	+0.0084%	1h	85,618.7	+0.022%	$886.8M	$1.58B	50x	as long as short
Reya BTCRUSDPERP	+0.0088%	1h	85,626.4	+0.031%	$6.6M	$146.9M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,618.8	+0.022%	$172.1M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,618.3	+0.021%	$23.9M	$149.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,618	+0.021%	$8.7M	$53.6M	100x	as long as short
Aevo BTC-PERPshort	+0.0096%	1h	85,618.2	+0.021%	$2.5M	$1.7M	20x
Katana Perps BTC-USD	+0.0100%	8h	85,586	−0.016%	$204K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,670.3	+0.082%	$5.2M	$9.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,709	+0.127%	$3.79B	$5.01B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,644.7	+0.052%	$40.3M	$581.6M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,633.7	+0.039%	$9.38B	$24.18B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,629.9	+0.035%	$5.20B	$9.80B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,639.9	+0.047%	$2.59B	$12.16B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,624	+0.028%	$3.8M	$17.8M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,487.5	−0.131%	$672.1M	$698.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,626	+0.030%	$5.52B	$10.78B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,624.3	+0.028%	$5.07B	$5.66B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,593.4	−0.008%	$35.2M	$177.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,565.9	−0.040%	$153.8M	$564.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,523.8	−0.089%	$279.4M	$922.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,554.3	−0.053%	$214.7M	$167.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,562.4	−0.044%	$139.9M	$314.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,544.2	−0.065%	$30.2M	$208.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,662.5	+0.073%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,620	+0.023%	$11.1M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,633.7	+0.039%	$194K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,626.8	+0.031%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,618.9	+0.022%	$30.0M	$50.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,563.9	−0.042%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,578	−0.026%	$60.0M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,584.3	−0.018%	$2.27B	$942.8M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,593	−0.008%	$44.7M	$231.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,592.5	−0.009%	—	$107.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,610.2	+0.012%	$117.5M	$5.20B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,610	+0.012%	$340K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,598.1	−0.002%	$187.6M	$953.6M	100x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,638.9	+0.045%	$8.4M	$42.6M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0178%	1h	85,634.1	+0.040%	$13.2M	—	200x	as long as short
Aftermath Perps BTCUSD	+0.0211%	1h	85,558.2	−0.049%	$78K	$220K	20x	as long as short
Kalshi KXBTCPERP	+0.0220%	8h	85,623	+0.027%	$10.3M	$754.9M	6.4x	as long as short
Hibachi BTC/USDT-P	+0.0256%	1h	85,621.2	+0.025%	$702K	$7.8M	30x	as long as short
Perpl BTC	+0.0335%	43m	85,617.5	+0.020%	$496K	$18.8M	6.7x	as long as short