Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h +0.012%

Price spread now: Gate against dYdX+0.026%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on dYdX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 7 days−0.048%−$5 · spread now +0.026%, 7d avg +0.001%

Together, before fees+0.030%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Gate is 0.024% dearer against dYdX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BTC-USD	86,456.7	0.0063	pay 0.0008% / 1h	8m 40s	$16.9M	$21.2M	50x
Short	Gate BTC_USDT	86,478.8	0.0082	get 0.0082% / 8h	8m 40s	$5.85B	$10.81B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.026%Rate

Funding earned: $4.02
Price spread: +0.026% → +0.001%: $2.42
Slippage, 4 orders: −$7.65
Fee dYdX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$26.21
Costs to cover: 0.326%
Break-even: 52.6 days

Slippage from dYdX: live order book, 1 min ago; Gate: 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, 1 min ago	1.33 bp	6.3 bp −$6	7.9 bp −$79	9.6 bp −$957	12.8 bp −$6,411
Sell Gate live order book, 5 min ago	0.01 bp	7.5 bp −$8	7.5 bp −$75	9.0 bp −$896	11.0 bp −$5,504

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	−0.0118%	1h	86,444	−0.015%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,460	+0.004%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,345	−0.129%	$332K	$26.9M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,493.6	+0.043%	$8.3M	$42.7M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,480.4	+0.027%	$358K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,474.2	+0.020%	$413K	$22.4M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,499.1	+0.049%	$36.8M	—	200x	as long as short
Aster BTCUSDT	+0.0009%	8h	86,477.7	+0.024%	$501.6M	$1.15B	200x	as long as short
KuCoin XBTUSDTM	+0.0022%	8h	86,475.4	+0.022%	$834.3M	$728.6M	125x	as long as short
Reya BTCRUSDPERP	+0.0036%	1h	86,471.1	+0.017%	$6.7M	$145.5M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0043%	8h	86,476.2	+0.023%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0055%	8h	86,474	+0.020%	$151.0M	$478.6M	150x	as long as short
Bitget BTCUSDT	+0.0055%	8h	86,471.1	+0.017%	$2.97B	$5.13B	150x	as long as short
dYdX BTC-USDlong	+0.0063%	1h	86,456.7	long leg	$16.9M	$21.2M	50x
Aevo BTC-PERP	+0.0072%	1h	86,469.6	+0.015%	$2.5M	$1.4M	20x	as long as short
MEXC BTC_USDT	+0.0073%	8h	86,473.3	+0.019%	$5.16B	$5.69B	500x	as long as short
Binance BTCUSDT	+0.0074%	8h	86,473.1	+0.019%	$9.44B	$24.55B	150x	as long as short
Gate BTC_USDTshort	+0.0082%	8h	86,478.8	+0.026%	$5.85B	$10.81B	200x
Lighter BTC	+0.0096%	1h	86,485.7	+0.034%	$170.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,490.9	+0.040%	$23.9M	$152.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,453	−0.004%	$8.5M	$52.3M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,477.5	+0.024%	$5.26B	$9.79B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,462	+0.006%	$197K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,514.8	+0.067%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,454.3	−0.003%	$21.8M	$234.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,545	+0.102%	$3.79B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,507.7	+0.059%	$41.1M	$538.1M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,478.6	+0.025%	$2.55B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,473	+0.019%	$3.9M	$18.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,512.2	+0.064%	$7.3M	$95.9M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,474.8	+0.021%	$38.0M	$156.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,407.7	−0.057%	$157.0M	$567.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,408.7	−0.056%	$279.1M	$946.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,429.2	−0.032%	$217.0M	$172.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,423.1	−0.039%	$141.3M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,460.1	+0.004%	$30.7M	$206.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,499.5	+0.050%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,465	+0.010%	$11.1M	$14.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,481.3	+0.028%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,479.4	+0.026%	$2.5M	$9.4M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,517.8	+0.071%	$141K	$664K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,513.7	+0.066%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,448.1	−0.010%	$3.4M	$5.3M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,475	+0.021%	$60.5M	$338.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,461.5	+0.006%	$2.29B	$968.2M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,452.9	−0.004%	$572.2M	$12.3M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,452.6	−0.005%	$45.7M	$225.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,468.3	+0.013%	—	$100.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,503	+0.054%	$192.9M	$953.2M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,517.4	+0.070%	$132.2M	$5.64B	50x	as long as short
Aftermath Perps BTCUSD	+0.0159%	1h	86,475.5	+0.022%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,484.8	+0.033%	$717K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0194%	8h	86,461.9	+0.006%	$415.2M	$658.5M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0199% / S −0.0223%	1h	86,489.7	+0.038%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0207%	8h	86,495	+0.044%	$10.1M	$751.8M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0403%	1h	86,539.8	+0.096%	$914.5M	$1.49B	50x	as long as short