Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h +0.022%

Price spread now: Arcus against BloFin−0.004%95s7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$170.173% of the position

Long on BloFin Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.077%+$8 on $10k

Price spread, last 3 days (all we have)+0.055%+$5 · spread now −0.004%, 7d avg +0.022%

Together, before fees+0.132%+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Arcus is 0.026% cheaper against BloFin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.022%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.077%, so the current rate has only just turned against you. The two prices were read 95 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	86,297	0.0204	pay 0.0204% / 8h	7h 13m	$416.1M	$641.9M	150x
Short	Arcus BTC-USD	86,293.7	0.0100	get 0.0013% / 1h	13m 37s	$7.2M	$94.9M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$21.84
Price spread: −0.004% → +0.022%: −$2.55
Slippage, 4 orders: −$0.79
Fee BloFin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$41.68
Costs to cover: 0.173%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Arcus: live order book, 1 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, 6 min ago	0.31 bp	6.3 bp −$6	6.7 bp −$67	7.0 bp −$700	8.3 bp −$4,152
Sell Arcus live order book, 1 min ago	0.01 bp	2.3 bp −$2	2.8 bp −$28	4.0 bp −$405	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	86,372	+0.087%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,277	−0.023%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	86,265.3	−0.037%	$364K	$2.3M	50x	as long as short
Bluefin BTC-PERP	−0.0031%	1h	86,381.2	+0.098%	$145K	$667K	40x	as long as short
Perpl BTC	0.0000%	43m	86,320	+0.027%	$538K	$21.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,358.7	+0.071%	$36.9M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,358	+0.071%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0027%	1h	86,318.1	+0.024%	$16.9M	$20.5M	50x	as long as short
Aster BTCUSDT	+0.0033%	8h	86,313	+0.019%	$500.3M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0043%	8h	86,294.9	−0.002%	$831.4M	$717.4M	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	+0.0048%	1h	86,257.1	−0.046%	$6.7M	$145.8M	40x	as long as short
BingX BTC-USDC	+0.0051%	8h	86,276.3	−0.024%	—	$15.3M	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,274.4	−0.026%	$8.3M	$42.4M	25x	as long as short
Bitget BTCUSDT	+0.0065%	8h	86,260.8	−0.042%	$2.97B	$5.04B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,332.4	+0.041%	$2.5M	$1.8M	20x	as long as short
SoDEX BTC-USD	+0.0081%	1h	86,343	+0.053%	$60.5M	$338.2M	40x	as long as short
MEXC BTC_USDT	+0.0084%	8h	86,277.8	−0.022%	$5.10B	$5.75B	500x	as long as short
Binance BTCUSDT	+0.0084%	8h	86,262.6	−0.040%	$9.40B	$24.22B	150x	as long as short
Phemex BTCUSDT	+0.0094%	8h	86,353	+0.065%	$155.4M	$473.0M	150x	as long as short
Lighter BTC	+0.0096%	1h	86,299.7	+0.003%	$170.4M	$992.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,306.9	+0.011%	$23.6M	$151.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,258	−0.045%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,238	−0.068%	$191K	$7.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,298.1	+0.001%	$4.2M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,290.1	−0.008%	$22.0M	$226.2M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,362	+0.075%	$3.78B	$4.99B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,317.9	+0.024%	$40.6M	$558.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,271.1	−0.030%	$5.25B	$9.65B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,277.2	−0.023%	$2.56B	$12.45B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,277	−0.023%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USDshort	+0.0100%	1h	86,293.7	−0.004%	$7.2M	$94.9M	40x
Bulk BTC-USD	+0.0100%	1h	86,145.7	−0.175%	$580.3M	$59.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,285.4	−0.013%	$5.77B	$10.62B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,360	+0.073%	$35.6M	$160.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,226.1	−0.082%	$156.7M	$559.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,254.8	−0.049%	$278.6M	$953.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,292.2	−0.006%	$216.6M	$165.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,290.3	−0.008%	$141.4M	$320.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,313.4	+0.019%	$30.6M	$208.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,323.9	+0.031%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,263	−0.039%	$11.1M	$14.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,340.7	+0.051%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,344.9	+0.056%	$2.4M	$9.1M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,360.5	+0.074%	$30.3M	$56.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,296.4	−0.001%	$3.3M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,325	+0.032%	$2.29B	$958.7M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,257.3	−0.046%	$46.0M	$222.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,319.8	+0.026%	—	$99.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,391.2	+0.109%	$132.3M	$5.32B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,381.6	+0.098%	$191.5M	$946.2M	100x	as long as short
Hibachi BTC/USDT-P	+0.0160%	1h	86,317.2	+0.023%	$713K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0168%	1h	86,320.9	+0.028%	$77K	$217K	20x	as long as short
BloFin BTC-USDTlong	+0.0204%	8h	86,297	long leg	$416.1M	$641.9M	150x
Kalshi KXBTCPERP	+0.0205%	8h	86,354	+0.066%	$10.6M	$765.7M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0222%	1h	86,349.4	+0.061%	$14.5M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0232%	1h	86,397.4	+0.116%	$902.3M	$1.51B	50x	as long as short