Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0099%/8h= +10.8% APRpaid last 24h +0.021%

Price spread now: edgeX against dYdX−0.065%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on dYdX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 7 days+0.013%+$1 · spread now −0.065%, 7d avg −0.035%

Together, before fees−0.049%+ Points / potential airdropedgeX: Active · farm board−$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.030% cheaper against dYdX than usual: you would sell low and buy high (spread −0.065% now, against its 7-day average of −0.035%). If the spread goes back, that is −$3 on $10k: about 24 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.062%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BTC-USD	85,297	0.0001	pay 0.0000% / 1h	19m 02s	$16.7M	$21.4M	50x
Short	edgeX BTCUSDC	85,241.6	0.0100	get 0.0050% / 4h	2h 19m	$279.4M	$948.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.065%Rate

Funding earned: $20.76
Price spread: −0.065% → −0.035%: −$2.97
Slippage, 4 orders: −$10.79
Fee dYdX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$12
Costs to cover: 0.298%
Break-even: 11.0 days

Slippage from dYdX: live order book, just now; edgeX: live order book, 5 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, just now	2.64 bp	13.1 bp −$13	15.9 bp −$159	24.4 bp −$2,440	60.2 bp −$30.1K
Sell edgeX live order book, 5 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	5.0 bp −$499	5.9 bp −$2,965

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	−0.0112%	43m	85,327.8	+0.036%	$527K	$18.4M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,308	+0.013%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,339	+0.049%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0054%	8h	85,340.1	+0.050%	$923.0M	$765.1M	125x	as long as short
BloFin BTC-USDT	−0.0033%	8h	85,351	+0.063%	$420.0M	$681.5M	150x	as long as short
Aster BTCUSDT	−0.0015%	8h	85,356.9	+0.070%	$512.9M	$1.09B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	85,341.2	+0.052%	$354K	$2.4M	50x	as long as short
dYdX BTC-USDlong	+0.0001%	1h	85,297	long leg	$16.7M	$21.4M	50x
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,362.6	+0.077%	$36.5M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	85,225	−0.084%	$338K	$26.8M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0037%	1h	85,317	+0.023%	$24.8M	$222.4M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,366.1	+0.081%	$187.7M	$954.1M	100x	as long as short
BingX BTC-USDT	+0.0067%	8h	85,371.8	+0.088%	—	$1.56B	—	as long as short
Phemex BTCUSDT	+0.0073%	8h	85,355	+0.068%	$147.6M	$505.2M	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,352.6	+0.065%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,347.9	+0.060%	$5.04B	$5.74B	500x	as long as short
Bitget BTCUSDT	+0.0086%	8h	85,350.4	+0.063%	$2.96B	$5.16B	150x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,377.3	+0.094%	$9.43B	$24.84B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,366	+0.081%	$171.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,365.5	+0.080%	$23.7M	$148.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,333	+0.042%	$8.3M	$55.8M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,383.4	+0.101%	$117.1M	$5.41B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,305	+0.009%	$238K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,380.2	+0.097%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,445	+0.173%	$3.75B	$5.07B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,350.1	+0.062%	$40.0M	$597.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,365.6	+0.080%	$5.15B	$9.95B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,351.9	+0.064%	$2.58B	$12.20B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,323	+0.030%	$3.8M	$17.5M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,331.9	+0.041%	$4.6M	$99.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,163.7	−0.156%	$678.5M	$565.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,370	+0.086%	$5.51B	$11.01B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,361.8	+0.076%	$36.4M	$176.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,218.8	−0.092%	$154.2M	$561.4M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	85,241.6	−0.065%	$279.4M	$948.2M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,107.4	−0.222%	$213.8M	$166.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,093.4	−0.239%	$139.1M	$315.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,285.1	−0.014%	$30.1M	$207.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,398.7	+0.119%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,350	+0.062%	$11.0M	$14.4M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,359	+0.073%	$205K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,360.3	+0.074%	$2.6M	$9.6M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,408.2	+0.130%	$228K	$760K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,333.4	+0.043%	$30.0M	$48.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,283	−0.016%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,359	+0.073%	$59.8M	$336.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,346.8	+0.058%	$2.26B	$941.4M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,325.6	+0.033%	$45.0M	$239.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,364	+0.079%	—	$106.8M	500x	as long as short
Reya BTCRUSDPERP	+0.0117%	1h	85,343.9	+0.055%	$6.6M	$147.4M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0131%	1h	85,394.7	+0.114%	$866.9M	$1.61B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,359.3	+0.073%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0188%	8h	85,356	+0.069%	$11.6M	$743.2M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0223%	1h	85,243	−0.063%	$78K	$227K	20x	as long as short
Hibachi BTC/USDT-P	+0.0232%	1h	85,319.8	+0.027%	$688K	$8.0M	30x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,353	+0.066%	$8.7M	$43.2M	25x	as long as short