Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h +0.043%

Price spread now: Aftermath Perps against BloFin+0.152%7-day average +0.024% · 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−$19as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on BloFin Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.106%+$11 on $10k

Price spread, last 3 days (all we have)−0.100%−$10 · spread now +0.152%, 7d avg +0.024%

Together, before fees+0.007%+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aftermath Perps is 0.127% dearer against BloFin than usual: you sell high and buy low (spread +0.152% now, against its 7-day average of +0.024%): +$13 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 13 days. Mind the row above: over the last 3 days funding on this pair paid +0.106%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BTC-USDT	86,184.8	0.0203	pay 0.0203% / 8h	7h 16m	$415.3M	$641.0M	150x
Short	Aftermath Perps BTCUSD	86,315.6	0.0170	get 0.0021% / 1h	16m 43s	$77K	$217K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps 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 Aftermath PerpsbpOrdersPrice spread, now +0.152%Rate

Funding earned: −$6.96
Price spread: +0.152% → +0.024%: $12.74
Slippage, 4 orders: −$11.02
Fee BloFin: 6 bp × 2 orders: −$12
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$26.24
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Aftermath Perps: live order book, 57 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, 2 min ago	0.31 bp	6.3 bp −$6	6.7 bp −$67	7.0 bp −$700	8.3 bp −$4,152
Sell Aftermath Perps live order book, 57 min ago	1.00 bp	9.4 bp −$9	doesn't fit	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
Phoenix BTC	−0.0129%	1h	86,239	+0.063%	$2.2M	$11.2M	40x	as long as short
Bluefin BTC-PERP	−0.0083%	1h	86,221.8	+0.043%	$144K	$667K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,248	+0.073%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	86,225.1	+0.047%	$363K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,233.8	+0.057%	$541K	$21.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,210	+0.029%	$36.8M	—	200x	as long as short
dYdX BTC-USD	+0.0022%	1h	86,243.1	+0.068%	$16.9M	$20.5M	50x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,358	+0.201%	$343K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0030%	8h	86,250.9	+0.077%	$500.1M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0042%	8h	86,243.5	+0.068%	$831.1M	$718.6M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0047%	1h	86,196	+0.013%	$6.7M	$145.8M	40x	as long as short
BingX BTC-USDT	+0.0051%	8h	86,255.5	+0.082%	—	$1.58B	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,233.1	+0.056%	$8.3M	$42.4M	25x	as long as short
Bitget BTCUSDT	+0.0065%	8h	86,250	+0.076%	$2.97B	$5.05B	150x	as long as short
SoDEX BTC-USD	+0.0074%	1h	86,188	+0.004%	$60.4M	$338.2M	40x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,192	+0.008%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0082%	8h	86,243.8	+0.068%	$5.09B	$5.74B	500x	as long as short
Binance BTCUSDT	+0.0083%	8h	86,252	+0.078%	$9.40B	$24.32B	150x	as long as short
Gate BTC_USDT	+0.0091%	8h	86,249.9	+0.076%	$5.76B	$10.60B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,270	+0.099%	$170.4M	$990.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,267.4	+0.096%	$23.6M	$151.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,220	+0.041%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,201	+0.019%	$196K	$7.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,241	+0.065%	$4.2M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,239.4	+0.063%	$22.0M	$227.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,319	+0.156%	$3.78B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,280.9	+0.112%	$40.6M	$558.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,257.5	+0.084%	$5.25B	$9.67B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,268.3	+0.097%	$2.56B	$12.46B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,218	+0.039%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,248.6	+0.074%	$7.2M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,145.7	−0.045%	$580.3M	$59.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,200.7	+0.018%	$35.6M	$160.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,271.9	+0.101%	$157.9M	$558.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,274.4	+0.104%	$278.7M	$950.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,277	+0.107%	$216.6M	$165.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,283.5	+0.115%	$141.3M	$321.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,247	+0.072%	$30.6M	$208.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,261.7	+0.089%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,224	+0.045%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,194.3	+0.011%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,180.5	−0.005%	$2.4M	$8.9M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,210.7	+0.030%	$30.3M	$56.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,203.5	+0.022%	$3.3M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,201.5	+0.019%	$2.29B	$959.1M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	86,212.7	+0.032%	$155.1M	$473.4M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	86,234.7	+0.058%	$46.0M	$222.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,236.4	+0.060%	—	$99.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,233.9	+0.057%	$132.2M	$5.33B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,226.4	+0.048%	$191.7M	$946.3M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0156%	1h	86,239.7	+0.064%	$902.1M	$1.51B	50x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	86,215.3	+0.035%	$712K	$7.9M	30x	as long as short
Aftermath Perps BTCUSDshort	+0.0170%	1h	86,315.6	+0.152%	$77K	$217K	20x
BloFin BTC-USDTlong	+0.0203%	8h	86,184.8	long leg	$415.3M	$641.0M	150x
Kalshi KXBTCPERP	+0.0204%	8h	86,236	+0.059%	$10.5M	$765.9M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0222%	1h	86,206.3	+0.025%	$14.5M	—	200x	as long as short