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

BTC

all BTC markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.031%
Price spread now: Ondo Perps against dYdX−0.062%7-day average +0.019% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 7 days+0.178%+$18 on $10k
Price spread, last 7 days−0.064%−$6 · spread now −0.062%, 7d avg +0.019%
Together, before fees+0.113%+ Points / potential airdropOndo Perps: Active · farm board+$11 on $10k · with fees, hour by hour
Funding pays, the price is against you. Ondo Perps is 0.082% cheaper against dYdX than usual: you would sell low and buy high (spread −0.062% now, against its 7-day average of +0.019%). If the spread goes back, that is −$8 on $10k: about 2.7 days of funding at the current rate (+$3 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongdYdX BTC-USD85,2770get 0.0000% / 1h35m 47s$16.7M$21.4M50x
ShortOndo Perps BTC-USD.P85,2240.0100get 0.0013% / 1h35m 47s$3.8M$17.1M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Ondo Perps 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
$21
Price spread: −0.062% → +0.019%
−$8.15
Slippage, 4 orders
no order book: not counted
Fee dYdX: 5 bp × 2 orders
−$10
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Net
−$2.15
Costs to cover
0.150%
Break-even
7.7 days
Slippage unknown: dYdX: live order book, 3 min ago; Ondo Perps: 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
LegHalf-spread$10k$100k$1M$5M
Buy dYdX live order book, 3 min ago2.23 bp7.2 bp −$78.6 bp −$8613.1 bp −$1,30919.0 bp −$9,477
Sell Ondo Perps no order-book sample
Ondo Perps: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0082%1h85,242−0.041%$2.1M$10.4M40xas long as short
Hotstuff BTC-PERP−0.0080%1h85,249−0.033%$8K$3K50xas long as short
KuCoin XBTUSDTM−0.0046%8h85,232.2−0.053%$927.4M$773.9M125xas long as short
BloFin BTC-USDT−0.0028%8h85,236.1−0.048%$421.0M$682.0M150xas long as short
Aster BTCUSDT−0.0012%8h85,233.9−0.051%$512.2M$1.09B200xas long as short
dYdX BTC-USDlong0.0000%1h85,277long leg$16.7M$21.4M50x
01 Exchange BTCUSD0.0000%1h85,243.1−0.040%$352K$2.4M50xas long as short
Perpl BTC0.0000%43m85,244.1−0.039%$495K$18.5M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h85,241.3−0.042%$36.4M200xas long as short
Nado BTC-PERP+0.0045%1h85,233.6−0.051%$24.4M$222.5M50xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
ApeX Omni BTCUSDT+0.0049%1h85,297.3+0.024%$139.5M$314.5M100xas long as short
Injective BTC/USDC PERP+0.0057%1h85,247−0.035%$338K$26.8M52xas long as short
BingX BTC-USDC+0.0070%8h85,221.8−0.065%$17.5Mas long as short
Deribit BTC-PERPETUAL+0.0082%1h85,270−0.008%$862.3M$1.64B50xas long as short
Bitget BTCUSDT+0.0088%8h85,239.2−0.044%$2.96B$5.18B150xas long as short
Kraken Futures PF_XBTUSD+0.0089%1h85,246.2−0.036%$186.0M$957.4M100xas long as short
MEXC BTC_USDT+0.0091%8h85,237−0.047%$5.01B$5.75B500xas long as short
Binance BTCUSDT+0.0092%8h85,236.5−0.047%$9.42B$24.97B150xas long as short
Lighter BTC+0.0096%1h85,245.4−0.037%$169.9M$1.02B50xas long as short
Lighter RH BTC+0.0096%1h85,249.8−0.032%$23.5M$148.0M50xas long as short
Popdex BTCUSDT+0.0096%1h85,227−0.059%$8.4M$56.2M100xas long as short
Aevo BTC-PERP+0.0096%1h85,222.9−0.063%$2.4M$6.7M20xas long as short
SoDEX BTC-USD+0.0097%1h85,229−0.056%$59.6M$336.9M40xas long as short
Bybit BTCUSDT+0.0100%8h85,238.4−0.045%$5.13B$9.99B150xas long as short
Katana Perps BTC-USD+0.0100%8h85,206−0.083%$236K$8.6M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,289.6+0.015%$5.8M$9.6M50xas long as short
Hyperliquid BTC+0.0100%1h85,313+0.042%$3.74B$5.08B40xas long as short
Pacifica BTC+0.0100%1h85,262.8−0.017%$40.2M$604.4M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,246.4−0.036%$2.59B$12.25B100xas long as short
Ondo Perps BTC-USD.Pshort+0.0100%1h85,224−0.062%$3.8M$17.1M25x
Arcus BTC-USD+0.0100%1h85,233−0.052%$5.2M$99.4M40xas long as short
Bulk BTC-USD+0.0100%1h85,278.8+0.002%$682.9M$449.0M40xas long as short
Gate BTC_USDT+0.0100%8h85,240.4−0.043%$5.49B$11.00B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,227.2−0.058%$36.9M$179.2M75xas long as short
Variational Omni BTC+0.0100%8h85,207.8−0.081%$154.6M$557.8Mas long as short
edgeX BTCUSDC+0.0100%4h85,212.7−0.075%$279.2M$949.9M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,291+0.016%$214.2M$166.1M50xas long as short
StandX BTC-USD+0.0100%1h85,255.1−0.026%$30.0M$203.9M40xas long as short
Vest BTC-PERP+0.0100%1h85,289+0.014%$10.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,226−0.060%$11.0M$14.6M50xas long as short
Bullet BTC-USD+0.0100%1h85,227.6−0.058%$201K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,232.3−0.052%$2.6M$9.8M100xas long as short
Bluefin BTC-PERP+0.0100%1h85,269.9−0.008%$193K$795K40xas long as short
Derive BTC-PERP+0.0100%1h85,214.5−0.073%$29.9M$47.0M15xas long as short
SunX BTC-USDT+0.0100%8h85,213.2−0.075%$2.9M$6.1M100xas long as short
HTX BTC-USDT+0.0100%8h85,239.2−0.044%$2.25B$970.4M200xas long as short
Phemex BTCUSDT+0.0100%8h85,250.6−0.031%$150.9M$509.2M150xas long as short
Extended BTC-USD+0.0104%1h85,214−0.074%$44.8M$240.7M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h85,241.4−0.042%$107.1M500xas long as short
Coinbase International BTC-PERP-INTX+0.0104%1h85,279.8+0.003%$117.3M$5.46B50xas long as short
Reya BTCRUSDPERP+0.0127%1h85,213.4−0.075%$6.6M$147.6M40xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0175% / S −0.0152%1h85,237.1−0.047%$13.0M200xas long as short
Kalshi KXBTCPERP+0.0186%8h85,258−0.022%$11.7M$742.0M6.4xas long as short
RISEx BTC/USDC+0.0193%1h85,252.3−0.029%$8.7M$42.9M25xas long as short
Hibachi BTC/USDT-P+0.0248%1h85,303.7+0.031%$684K$7.9M30xas long as short
Aftermath Perps BTCUSD+0.0262%1h85,279+0.002%$79K$229K20xas long as short