Settings8H · net · $10k
Funding arb · Price arb /

BTC

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 06:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.001%
Price spread now: BloFin against dYdX−0.011%7-day average −0.017% · you buy dearer than you sell
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$330.327% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.141%+$14 on $10k
Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.011%, 7d avg −0.017%
Together, before fees+0.121%+$12 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.141%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongdYdX BTC-USD85,386.90.0001pay 0.0000% / 1h16m 37s$16.7M$21.4M50x
ShortBloFin BTC-USDT85,377.4−0.0031pay 0.0031% / 8h2h 16m$419.8M$681.8M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin 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

Funding earned
−$6.83
Price spread: −0.011% → −0.017%
$0.62
Slippage, 4 orders
−$10.7
Fee dYdX: 5 bp × 2 orders
−$10
Fee BloFin: 6 bp × 2 orders
−$12
Net
−$38.91
Costs to cover
0.327%
Break-even
never at this rate
Slippage from dYdX: live order book, 3 min ago; BloFin: live order book, 8 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy dYdX live order book, 3 min ago2.64 bp13.1 bp −$1315.9 bp −$15924.4 bp −$2,44060.2 bp −$30.1K
Sell BloFin live order book, 8 min ago0.01 bp6.0 bp −$66.0 bp −$606.0 bp −$6017.2 bp −$3,612

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl BTC−0.0112%43m85,381.4−0.006%$526K$18.4M6.7xas long as short
Phoenix BTC−0.0111%1h85,308−0.092%$2.1M$10.4M40xas long as short
Hotstuff BTC-PERP−0.0080%1h85,379−0.009%$8K$3K50xas long as short
KuCoin XBTUSDTM−0.0053%8h85,367.5−0.023%$923.0M$765.0M125xas long as short
BloFin BTC-USDTshort−0.0031%8h85,377.4−0.011%$419.8M$681.8M150x
Aster BTCUSDT−0.0012%8h85,376.9−0.012%$513.0M$1.09B200xas long as short
01 Exchange BTCUSD−0.0008%1h85,405.7+0.022%$354K$2.4M50xas long as short
dYdX BTC-USDlong+0.0001%1h85,386.9long leg$16.7M$21.4M50x
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h85,381.7−0.006%$36.5M200xas long as short
Injective BTC/USDC PERP+0.0023%1h85,349−0.044%$339K$26.8M52xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Nado BTC-PERP+0.0039%1h85,350.6−0.043%$24.8M$222.5M50xas long as short
Kraken Futures PF_XBTUSD+0.0056%1h85,389.1+0.003%$187.5M$954.6M100xas long as short
BingX BTC-USDT+0.0067%8h85,387.7+0.001%$1.56Bas long as short
Phemex BTCUSDT+0.0076%8h85,368.5−0.022%$147.8M$505.3M150xas long as short
Bitget BTCUSDT+0.0086%8h85,381.4−0.006%$2.96B$5.16B150xas long as short
MEXC BTC_USDT+0.0088%8h85,392.3+0.006%$5.05B$5.74B500xas long as short
Aevo BTC-PERP+0.0088%1h85,370.9−0.019%$2.4M$6.7M20xas long as short
Binance BTCUSDT+0.0090%8h85,392+0.006%$9.45B$24.86B150xas long as short
Lighter BTC+0.0096%1h85,382−0.006%$171.1M$1.03B50xas long as short
Lighter RH BTC+0.0096%1h85,383.2−0.004%$23.7M$148.8M50xas long as short
Popdex BTCUSDT+0.0096%1h85,378−0.010%$8.3M$55.8M100xas long as short
Coinbase International BTC-PERP-INTX+0.0096%1h85,409.8+0.027%$117.2M$5.42B50xas long as short
Katana Perps BTC-USD+0.0100%8h85,369−0.021%$238K$8.6M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,426.9+0.047%$5.8M$9.6M50xas long as short
Hyperliquid BTC+0.0100%1h85,449+0.073%$3.75B$5.07B40xas long as short
Pacifica BTC+0.0100%1h85,405.5+0.022%$40.0M$597.7M50xas long as short
Bybit BTCUSDT+0.0100%8h85,379−0.009%$5.15B$9.95B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,390+0.004%$2.58B$12.21B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h85,3870.000%$3.8M$17.5M25xas long as short
Arcus BTC-USD+0.0100%1h85,397.3+0.012%$4.6M$98.7M40xas long as short
Bulk BTC-USD+0.0100%1h85,163.7−0.261%$678.5M$565.0M40xas long as short
Gate BTC_USDT+0.0100%8h85,380.8−0.007%$5.50B$11.03B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,367.4−0.023%$36.3M$176.6M75xas long as short
Variational Omni BTC+0.0100%8h85,218.8−0.197%$154.2M$561.4Mas long as short
edgeX BTCUSDC+0.0100%4h85,241.6−0.170%$279.4M$948.2M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,345.8−0.048%$214.4M$167.1M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h85,331.7−0.065%$139.5M$314.9M100xas long as short
StandX BTC-USD+0.0100%1h85,360.6−0.031%$30.1M$207.7M40xas long as short
Vest BTC-PERP+0.0100%1h85,440.9+0.063%$10.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,372−0.017%$11.0M$14.4M50xas long as short
Bullet BTC-USD+0.0100%1h85,377.5−0.011%$205K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,382.2−0.005%$2.6M$9.6M100xas long as short
Bluefin BTC-PERP+0.0100%1h85,420.8+0.040%$228K$760K40xas long as short
Derive BTC-PERP+0.0100%1h85,352.1−0.041%$30.0M$48.0M15xas long as short
SunX BTC-USDT+0.0100%8h85,334.9−0.061%$2.9M$6.1M100xas long as short
SoDEX BTC-USD+0.0100%1h85,377−0.012%$59.8M$336.2M40xas long as short
HTX BTC-USDT+0.0100%8h85,366.2−0.024%$2.26B$941.7M200xas long as short
Extended BTC-USD+0.0104%1h85,356.9−0.035%$45.0M$239.8M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h85,386.2−0.001%$106.9M500xas long as short
Reya BTCRUSDPERP+0.0117%1h85,365.9−0.025%$6.6M$147.4M40xas long as short
Deribit BTC-PERPETUAL+0.0165%1h85,415+0.033%$866.8M$1.61B50xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0176% / S −0.0151%1h85,372.4−0.017%$13.0M200xas long as short
Kalshi KXBTCPERP+0.0190%8h85,3870.000%$11.4M$743.4M6.4xas long as short
Aftermath Perps BTCUSD+0.0220%1h85,292−0.111%$78K$227K20xas long as short
Hibachi BTC/USDT-P+0.0232%1h85,402.8+0.019%$689K$8.0M30xas long as short
RISEx BTC/USDC+0.0257%1h85,413.9+0.032%$8.7M$43.3M25xas long as short