Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0107%/8h= −11.7% APRpaid last 24h +0.022%

Price spread now: Aster against edgeX+0.059%110s7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$180.177% of the position

Long on edgeX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.169%+$17 on $10k

Price spread, last 7 days−0.049%−$5 · spread now +0.059%, 7d avg +0.039%

Together, before fees+0.120%+ Points / potential airdropedgeX: Active · Aster: Stage 5 · farm board+$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.020% dearer against edgeX than usual: you sell high and buy low (spread +0.059% now, against its 7-day average of +0.039%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 15 hours. Mind the row above: over the last 7 days funding on this pair paid +0.169%, so the current rate has only just turned against you. The two prices were read 110 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BTCUSDC	86,361.4	0.0100	pay 0.0050% / 4h	59m 44s	$279.1M	$946.0M	100x
Short	Aster BTCUSDT	86,412.7	−0.0007	pay 0.0007% / 8h	59m 44s	$503.1M	$1.15B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 AsterbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$22.5
Price spread: +0.059% → +0.039%: $2.02
Slippage, 4 orders: −$0.7
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$38.18
Costs to cover: 0.177%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; Aster: live order book, 4 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, 4 min ago	0.02 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$467	5.7 bp −$2,861
Sell Aster live order book, 4 min ago	0.01 bp	4.0 bp −$4	5.1 bp −$51	6.0 bp −$598	8.3 bp −$4,139

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
Bluefin BTC-PERP	−0.0398%	1h	86,450.4	+0.103%	$140K	$663K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,366	+0.005%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,380	+0.021%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,428.8	+0.078%	$357K	$2.5M	50x	as long as short
Aster BTCUSDTshort	−0.0007%	8h	86,412.7	+0.059%	$503.1M	$1.15B	200x
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,433.9	+0.084%	$36.8M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,419.7	+0.067%	$8.4M	$42.8M	25x	as long as short
KuCoin XBTUSDTM	+0.0007%	8h	86,414.6	+0.062%	$849.8M	$713.5M	125x	as long as short
dYdX BTC-USD	+0.0011%	1h	86,400.8	+0.046%	$17.0M	$21.1M	50x	as long as short
Deribit BTC-PERPETUAL	+0.0020%	1h	86,448.2	+0.100%	$916.5M	$1.49B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0024%	1h	86,408.1	+0.054%	$6.7M	$145.1M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,403	+0.048%	$332K	$26.8M	52x	as long as short
BingX BTC-USDC	+0.0038%	8h	86,402.6	+0.048%	—	$15.4M	—	as long as short
Phemex BTCUSDT	+0.0042%	8h	86,413.4	+0.060%	$149.7M	$477.6M	150x	as long as short
Bitget BTCUSDT	+0.0049%	8h	86,413.3	+0.060%	$2.95B	$5.11B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,409.4	+0.055%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0066%	8h	86,418.9	+0.067%	$5.12B	$5.73B	500x	as long as short
Binance BTCUSDT	+0.0067%	8h	86,419.2	+0.067%	$9.42B	$24.50B	150x	as long as short
Aftermath Perps BTCUSD	+0.0076%	1h	86,393.4	+0.037%	$79K	$220K	20x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,417.5	+0.065%	$5.84B	$10.79B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,417.2	+0.065%	$170.3M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,419.1	+0.067%	$24.0M	$151.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,418	+0.065%	$8.4M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0098%	8h	86,399	+0.044%	$5.26B	$9.80B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,399	+0.043%	$204K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,432.6	+0.082%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,382.3	+0.024%	$21.8M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,488	+0.147%	$3.79B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,422.2	+0.070%	$40.8M	$517.9M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,422.3	+0.070%	$2.54B	$12.71B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,414	+0.061%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,446.6	+0.099%	$7.6M	$94.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,382.9	+0.025%	$571.1M	$18.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,410.4	+0.057%	$37.8M	$154.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,337.9	−0.027%	$155.6M	$568.2M	—	as long as short
edgeX BTCUSDClong	+0.0100%	4h	86,361.4	long leg	$279.1M	$946.0M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,351.2	−0.012%	$216.7M	$173.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,372.8	+0.013%	$141.2M	$323.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,341	−0.024%	$30.6M	$204.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,452.4	+0.105%	—	$11.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,413	+0.060%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,420.6	+0.068%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,420.5	+0.068%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,450.5	+0.103%	$30.6M	$62.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,409.5	+0.056%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,417	+0.064%	$60.4M	$337.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,403.6	+0.049%	$2.29B	$969.1M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,398.5	+0.043%	$45.5M	$226.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,428.2	+0.077%	—	$99.0M	500x	as long as short
Perpl BTC	+0.0112%	43m	86,390.8	+0.034%	$419K	$23.5M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,454.9	+0.108%	$132.2M	$5.68B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,441.9	+0.093%	$192.1M	$947.6M	100x	as long as short
Hibachi BTC/USDT-P	+0.0152%	1h	86,381.8	+0.024%	$718K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0187%	8h	86,375	+0.016%	$414.5M	$654.2M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0189% / S −0.0212%	1h	86,429	+0.078%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0200%	8h	86,421	+0.069%	$9.6M	$737.1M	6.4x	as long as short