Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0080%/8h= −8.7% APRpaid last 24h +0.035%

Price spread now: Vest against BloFin+0.177%7-day average +0.013% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.056%+$6 on $10k

Price spread, last 3 days (all we have)−0.155%−$15 · spread now +0.177%, 7d avg +0.013%

Together, before fees−0.098%+ Points / potential airdropVest: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Vest is 0.164% dearer against BloFin than usual: you sell high and buy low (spread +0.177% now, against its 7-day average of +0.013%): +$16 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.8 days. Mind the row above: over the last 3 days funding on this pair paid +0.056%, 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	86,337.5	0.0180	pay 0.0180% / 8h	1h 31m	$413.9M	$651.2M	150x
Short	Vest BTC-PERP	86,490.4	0.0100	get 0.0013% / 1h	31m 01s	—	$11.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now +0.177%Rate

Funding earned: −$16.76
Price spread: +0.177% → +0.013%: $16.36
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: −$14.39
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: BloFin: live order book, 3 min ago; Vest: no order-book sample. Net counts fees only.

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, 3 min ago	0.06 bp	6.1 bp −$6	6.1 bp −$61	6.7 bp −$674	8.0 bp −$4,001
Sell Vest no order-book sample	—	—	—	—	—

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Bluefin BTC-PERP	−0.0500%	1h	86,397.1	+0.069%	$140K	$618K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,459	+0.141%	$2.2M	$11.8M	40x	as long as short
Aftermath Perps BTCUSD	−0.0092%	1h	86,549.1	+0.245%	$83K	$216K	20x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,440	+0.119%	$9K	$3K	50x	as long as short
Aster BTCUSDT	−0.0011%	8h	86,337.5	0.000%	$503.9M	$1.15B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,456.2	+0.137%	$358K	$2.4M	50x	as long as short
dYdX BTC-USD	−0.0002%	1h	86,483.7	+0.169%	$17.1M	$20.7M	50x	as long as short
KuCoin XBTUSDTM	−0.0001%	8h	86,335.2	−0.003%	$850.7M	$709.2M	125x	as long as short
Perpl BTC	0.0000%	43m	86,456.1	+0.137%	$421K	$23.8M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,400.7	+0.073%	$921.9M	$1.48B	50x	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 −0.0004%	1h	86,460.7	+0.143%	$36.8M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,447.8	+0.128%	$8.5M	$43.2M	25x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,424.2	+0.100%	$6.7M	$144.9M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.257%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0032%	8h	86,360	+0.026%	$149.3M	$476.0M	150x	as long as short
BingX BTC-USDC	+0.0034%	8h	86,332.3	−0.006%	—	$15.3M	—	as long as short
Bitget BTCUSDT	+0.0043%	8h	86,349.9	+0.014%	$2.95B	$5.09B	150x	as long as short
Hibachi BTC/USDT-P	+0.0056%	1h	86,482.2	+0.168%	$724K	$8.2M	30x	as long as short
Binance BTCUSDT	+0.0060%	8h	86,344	+0.008%	$9.40B	$24.35B	150x	as long as short
MEXC BTC_USDT	+0.0060%	8h	86,344.9	+0.009%	$5.11B	$5.67B	500x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,359.9	+0.026%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0074%	8h	86,345.3	+0.009%	$5.84B	$10.67B	200x	as long as short
SoDEX BTC-USD	+0.0089%	1h	86,370	+0.038%	$60.4M	$337.2M	40x	as long as short
Bybit BTCUSDT	+0.0089%	8h	86,342.3	+0.006%	$5.25B	$9.73B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,366.9	+0.034%	$171.3M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,369.7	+0.037%	$24.0M	$152.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,443	+0.122%	$8.5M	$52.2M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,429	+0.106%	$200K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,486.1	+0.172%	$4.8M	$8.4M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,450.1	+0.130%	$21.9M	$233.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,423	+0.099%	$3.80B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,477.2	+0.162%	$41.0M	$505.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,348.9	+0.013%	$2.53B	$12.69B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,446	+0.126%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,517.7	+0.209%	$7.4M	$93.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,703.1	+0.423%	$573.0M	$18.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,337	−0.001%	$38.2M	$153.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,541.3	+0.236%	$156.5M	$566.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,500.3	+0.189%	$279.4M	$945.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,543.9	+0.239%	$217.3M	$174.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,518.6	+0.210%	$141.4M	$323.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,455.4	+0.137%	$30.7M	$203.5M	40x	as long as short
Vest BTC-PERPshort	+0.0100%	1h	86,490.4	+0.177%	—	$11.6M	50x
Polymarket Perps BTC-USD	+0.0100%	1h	86,444	+0.123%	$11.0M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,439.5	+0.118%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,380.6	+0.050%	$2.4M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,375.3	+0.044%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,422.7	+0.099%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,330.8	−0.008%	$2.29B	$967.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,352.2	+0.017%	$46.4M	$225.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,468.4	+0.152%	—	$98.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,407.9	+0.082%	$131.4M	$5.69B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,394.1	+0.066%	$190.3M	$939.6M	100x	as long as short
BloFin BTC-USDTlong	+0.0180%	8h	86,337.5	long leg	$413.9M	$651.2M	150x
GMX BTC/USD [WBTC.b-USDC]	L +0.0183% / S −0.0217%	1h	86,451.9	+0.132%	$15.4M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0195%	8h	86,435	+0.113%	$9.6M	$730.2M	6.4x	as long as short