Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0319%/8h= −35.0% APRpaid last 24h +0.050%

Price spread now: Aftermath Perps against edgeX+0.008%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on edgeX Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.178%+$18 on $10k

Price spread, last 3 days (all we have)+0.004%$0 · spread now +0.008%, 7d avg +0.044%

Together, before fees+0.182%+ Points / potential airdropedgeX: Active · farm board+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Aftermath Perps is 0.036% cheaper against edgeX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.044%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.178%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BTCUSDC	86,603.7	0.0100	pay 0.0050% / 4h	2h 39m	$279.8M	$949.2M	100x
Short	Aftermath Perps BTCUSD	86,610.4	−0.0219	pay 0.0027% / 1h	39m 09s	$85K	$188K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against edgeX. 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 edgeXbpFee Aftermath PerpsbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$67.05
Price spread: +0.008% → +0.044%: −$3.64
Slippage, 4 orders: −$15.44
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$104.12
Costs to cover: 0.334%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Aftermath Perps: live order book, 50 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 edgeX live order book, 5 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	4.8 bp −$475	5.8 bp −$2,882
Sell Aftermath Perps live order book, 50 min ago	0.00 bp	8.6 bp −$9	18.2 bp −$182	doesn't fit	doesn't fit

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	−0.0223%	43m	86,583.4	−0.023%	$429K	$24.9M	6.7x	as long as short
Aftermath Perps BTCUSDshort	−0.0219%	1h	86,610.4	+0.008%	$85K	$188K	20x
Phoenix BTC	−0.0103%	1h	86,607	+0.004%	$2.2M	$12.4M	40x	as long as short
dYdX BTC-USD	−0.0100%	1h	86,611.8	+0.009%	$17.7M	$20.3M	50x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,612	+0.010%	$9K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0001%	8h	86,533	−0.082%	$844.6M	$707.5M	125x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,574.3	−0.034%	$361K	$2.4M	50x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,566.2	−0.043%	$936.5M	$1.43B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,571.8	−0.037%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0010%	8h	86,538.5	−0.075%	$505.3M	$1.16B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0021%	1h	86,537.1	−0.077%	$6.7M	$144.2M	40x	as long as short
BingX BTC-USDT	+0.0022%	8h	86,524	−0.092%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0026%	8h	86,530.7	−0.084%	$149.6M	$470.7M	150x	as long as short
Bitget BTCUSDT	+0.0027%	8h	86,522.8	−0.093%	$2.94B	$5.07B	150x	as long as short
Aevo BTC-PERP	+0.0048%	1h	86,539.9	−0.074%	$2.4M	$1.3M	20x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,732	+0.148%	$315K	$26.8M	52x	as long as short
MEXC BTC_USDT	+0.0050%	8h	86,528.2	−0.087%	$5.18B	$5.66B	500x	as long as short
Binance BTCUSDT	+0.0051%	8h	86,517.1	−0.100%	$9.43B	$24.31B	150x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,559.6	−0.051%	$9.2M	$41.9M	25x	as long as short
OKX BTC-USDT-SWAP	+0.0067%	8h	86,534.3	−0.080%	$2.56B	$12.68B	100x	as long as short
Gate BTC_USDT	+0.0067%	8h	86,526.7	−0.089%	$5.84B	$10.61B	200x	as long as short
Bybit BTCUSDT	+0.0078%	8h	86,525.4	−0.090%	$5.27B	$9.66B	150x	as long as short
Variational Omni BTC	+0.0091%	8h	86,619.6	+0.018%	$160.0M	$567.4M	—	as long as short
Lighter BTC	+0.0096%	1h	86,544.2	−0.069%	$171.9M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,549.7	−0.062%	$24.0M	$153.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,548	−0.064%	$8.5M	$52.1M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,595.7	−0.009%	$4.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,541	−0.072%	$197K	$6.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,571.1	−0.038%	$21.8M	$235.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,602	−0.002%	$3.82B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,598.4	−0.006%	$41.3M	$490.3M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,569	−0.040%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,614.3	+0.012%	$7.4M	$93.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,606.9	+0.004%	$571.9M	$22.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,527.3	−0.088%	$38.0M	$148.2M	75x	as long as short
edgeX BTCUSDClong	+0.0100%	4h	86,603.7	long leg	$279.8M	$949.2M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,620.3	+0.019%	$217.5M	$188.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,631.1	+0.032%	$141.6M	$323.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,602	−0.002%	$30.8M	$205.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,630.5	+0.031%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,552	−0.060%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,550	−0.062%	$193K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,555.5	−0.056%	$2.5M	$8.5M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,561.7	−0.049%	$140K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,552.3	−0.059%	$30.0M	$61.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,572.6	−0.036%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,535	−0.079%	$60.4M	$336.4M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,530.7	−0.084%	$2.30B	$956.7M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,525.6	−0.090%	$46.4M	$228.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,568.3	−0.041%	—	$98.2M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0117%	1h	86,567.1	−0.042%	$190.4M	$930.3M	100x	as long as short
Kalshi KXBTCPERP	+0.0120%	8h	86,578	−0.030%	$8.8M	$723.8M	6.4x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,578.9	−0.029%	$131.9M	$5.86B	50x	as long as short
BloFin BTC-USDT	+0.0171%	8h	86,555	−0.056%	$416.9M	$646.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0178% / S −0.0185%	1h	86,566.8	−0.043%	$14.9M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	86,648.2	+0.051%	$602K	$7.2M	30x	as long as short