Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0118%/8h= +12.9% APRpaid last 24h +0.017%

Price spread now: Bitget against dYdX0.000%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on dYdX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.093%+$9 on $10k

Price spread, last 7 days−0.029%−$3 · spread now 0.000%, 7d avg +0.002%

Together, before fees+0.064%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BTC-USD	86,756.9	−0.0093	get 0.0012% / 1h	55m 37s	$18.1M	$19.9M	50x
Short	Bitget BTCUSDT	86,756.6	0.0025	get 0.0025% / 8h	2h 55m	$2.96B	$5.08B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against dYdX. 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 dYdXbpFee BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: $24.78
Price spread: 0.000% → +0.002%: −$0.28
Slippage, 4 orders: −$4.96
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$2.46
Costs to cover: 0.270%
Break-even: 7.7 days

Slippage from dYdX: live order book, 4 min ago; Bitget: 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 dYdX live order book, 4 min ago	0.06 bp	6.3 bp −$6	13.2 bp −$132	24.5 bp −$2,452	28.9 bp −$14.4K
Sell Bitget live order book, 4 min ago	0.01 bp	6.0 bp −$6	6.4 bp −$64	7.3 bp −$731	8.5 bp −$4,268

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	86,779.2	+0.026%	$418K	$25.5M	6.7x	as long as short
Aftermath Perps BTCUSD	−0.0183%	1h	86,880	+0.142%	$85K	$188K	20x	as long as short
Phoenix BTC	−0.0123%	1h	86,795	+0.044%	$2.2M	$12.4M	40x	as long as short
dYdX BTC-USDlong	−0.0093%	1h	86,756.9	long leg	$18.1M	$19.9M	50x
Hotstuff BTC-PERP	−0.0080%	1h	86,790	+0.038%	$9K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0001%	8h	86,737.9	−0.022%	$838.7M	$706.8M	125x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,806	+0.057%	$363K	$2.5M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	86,792	+0.040%	$8.9M	$725.1M	6.4x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,808.4	+0.059%	$922.9M	$1.38B	50x	as long as short
Bluefin BTC-PERP	+0.0001%	1h	86,732.3	−0.028%	$160K	$575K	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	86,767	+0.012%	$36.7M	—	200x	as long as short
Phemex BTCUSDT	+0.0013%	8h	86,748.5	−0.010%	$149.3M	$468.5M	150x	as long as short
Aster BTCUSDT	+0.0016%	8h	86,765.8	+0.010%	$506.6M	$1.16B	200x	as long as short
BingX BTC-USDC	+0.0019%	8h	86,750.6	−0.007%	—	$15.3M	—	as long as short
Reya BTCRUSDPERP	+0.0021%	1h	86,738.2	−0.022%	$6.7M	$143.7M	40x	as long as short
Bitget BTCUSDTshort	+0.0025%	8h	86,756.6	0.000%	$2.96B	$5.08B	150x
MEXC BTC_USDT	+0.0046%	8h	86,746.6	−0.012%	$5.20B	$5.61B	500x	as long as short
Binance BTCUSDT	+0.0046%	8h	86,795	+0.044%	$9.46B	$24.33B	150x	as long as short
Aevo BTC-PERP	+0.0048%	1h	86,758.6	+0.002%	$2.4M	$1.3M	20x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,984	+0.262%	$316K	$26.8M	52x	as long as short
OKX BTC-USDT-SWAP	+0.0054%	8h	86,799.9	+0.050%	$2.59B	$12.73B	100x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,777.5	+0.024%	$9.3M	$42.0M	25x	as long as short
Gate BTC_USDT	+0.0063%	8h	86,761.8	+0.006%	$5.86B	$10.53B	200x	as long as short
SoDEX BTC-USD	+0.0068%	1h	86,755	−0.002%	$60.6M	$336.4M	40x	as long as short
Bybit BTCUSDT	+0.0078%	8h	86,796.3	+0.045%	$5.30B	$9.68B	150x	as long as short
Popdex BTCUSDT	+0.0088%	1h	86,780	+0.027%	$8.5M	$52.2M	100x	as long as short
Variational Omni BTC	+0.0088%	8h	86,792.9	+0.042%	$161.2M	$563.4M	—	as long as short
GRVT BTC_USDT_Perp	+0.0094%	8h	86,810.6	+0.062%	$218.0M	$191.1M	50x	as long as short
Lighter BTC	+0.0096%	1h	86,764	+0.008%	$172.7M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,765.2	+0.010%	$24.2M	$152.4M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0097%	8h	86,769.3	+0.014%	$2.5M	$8.4M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,789.7	+0.038%	$4.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,766	+0.011%	$201K	$6.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,735.2	−0.025%	$22.0M	$237.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,818.8	+0.071%	$3.86B	$5.14B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,782	+0.029%	$41.6M	$484.5M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,745	−0.014%	$3.9M	$18.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,829.9	+0.084%	$7.6M	$95.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,919.5	+0.187%	$573.8M	$23.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,761.8	+0.006%	$38.4M	$147.9M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,804.8	+0.055%	$280.4M	$944.7M	100x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,805.9	+0.056%	$142.0M	$322.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,839	+0.095%	$30.9M	$205.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,817.1	+0.069%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,738	−0.022%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,742.2	−0.017%	$202K	$3.4M	20x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,764.9	+0.009%	$30.1M	$61.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,769	+0.014%	$3.4M	$5.6M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,746.1	−0.012%	$2.31B	$954.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,744.6	−0.014%	$46.2M	$228.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,814.8	+0.067%	—	$98.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0116%	1h	86,792.2	+0.041%	$193.1M	$926.5M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,808.8	+0.060%	$132.2M	$5.94B	50x	as long as short
BloFin BTC-USDT	+0.0167%	8h	86,809.9	+0.061%	$420.2M	$643.1M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0181% / S −0.0200%	1h	86,765.6	+0.010%	$15.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	86,877.5	+0.139%	$753K	$7.0M	30x	as long as short