Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h +0.014%

Price spread now: Binance against edgeX−0.065%70s7-day average +0.040% · you buy dearer than you sell

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−$190.192% of the position

Long on edgeX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.185%+$18 on $10k

Price spread, last 7 days+0.085%+$8 · spread now −0.065%, 7d avg +0.040%

Together, before fees+0.270%+ Points / potential airdropedgeX: Active · farm board+$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.105% cheaper against edgeX than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.040%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.185%, so the current rate has only just turned against you. The two prices were read 70 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	86,274.4	0.0100	pay 0.0050% / 4h	3h 18m	$278.7M	$950.7M	100x
Short	Binance BTCUSDT	86,218.2	0.0083	get 0.0083% / 8h	7h 18m	$9.39B	$24.33B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.065%Rate

Funding earned: −$3.58
Price spread: −0.065% → +0.040%: −$10.53
Slippage, 4 orders: −$0.22
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$33.33
Costs to cover: 0.192%
Break-even: never at this rate

Slippage from edgeX: live order book, 1 min ago; Binance: live order book, 11 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, 1 min ago	0.10 bp	4.6 bp −$5	4.6 bp −$46	4.7 bp −$475	5.6 bp −$2,816
Sell Binance live order book, 11 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.1 bp −$514	7.3 bp −$3,628

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	−0.0129%	1h	86,359	+0.098%	$2.2M	$11.2M	40x	as long as short
Bluefin BTC-PERP	−0.0101%	1h	86,256.7	−0.021%	$144K	$667K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,160	−0.133%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,157.7	−0.135%	$363K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,188.4	−0.100%	$544K	$21.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,223.7	−0.059%	$36.8M	—	200x	as long as short
dYdX BTC-USD	+0.0023%	1h	86,139	−0.157%	$16.9M	$20.5M	50x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,358	+0.097%	$343K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0029%	8h	86,179.3	−0.110%	$499.7M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0042%	8h	86,148.7	−0.146%	$830.1M	$718.0M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0047%	1h	86,171.7	−0.119%	$6.7M	$145.8M	40x	as long as short
BingX BTC-USDC	+0.0050%	8h	86,188.9	−0.099%	—	$15.3M	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,157.3	−0.136%	$8.3M	$42.4M	25x	as long as short
Bitget BTCUSDT	+0.0064%	8h	86,214.9	−0.069%	$2.97B	$5.05B	150x	as long as short
SoDEX BTC-USD	+0.0077%	1h	86,212	−0.072%	$60.4M	$338.2M	40x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,214.2	−0.070%	$2.5M	$1.8M	20x	as long as short
Binance BTCUSDTshort	+0.0083%	8h	86,218.2	−0.065%	$9.39B	$24.33B	150x
MEXC BTC_USDT	+0.0083%	8h	86,177.6	−0.112%	$5.10B	$5.74B	500x	as long as short
Gate BTC_USDT	+0.0087%	8h	86,223.6	−0.059%	$5.76B	$10.58B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,155.7	−0.138%	$170.1M	$989.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,160.7	−0.132%	$23.6M	$151.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,153	−0.141%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,129	−0.169%	$196K	$7.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,174.1	−0.116%	$4.2M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,149.6	−0.145%	$22.0M	$227.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,253	−0.025%	$3.78B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,160.4	−0.132%	$40.5M	$558.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,230.6	−0.051%	$5.25B	$9.67B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,224.3	−0.058%	$2.56B	$12.46B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,132	−0.165%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,169.9	−0.121%	$7.2M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,145.7	−0.149%	$580.3M	$59.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,151.7	−0.142%	$35.7M	$159.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,271.9	−0.003%	$157.9M	$558.2M	—	as long as short
edgeX BTCUSDClong	+0.0100%	4h	86,274.4	long leg	$278.7M	$950.7M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,277	+0.003%	$216.6M	$165.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,283.5	+0.011%	$141.3M	$321.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,247	−0.032%	$30.6M	$208.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,217.7	−0.066%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,176	−0.114%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,194.8	−0.092%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,212.5	−0.072%	$2.4M	$8.9M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,238.1	−0.042%	$30.3M	$56.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,215.4	−0.068%	$3.3M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,139.7	−0.156%	$2.29B	$960.1M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	86,161.1	−0.131%	$154.9M	$473.2M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	86,197.6	−0.089%	$46.1M	$222.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,212.7	−0.071%	—	$98.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,271.2	−0.004%	$132.3M	$5.33B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,266	−0.010%	$192.0M	$945.4M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0151%	1h	86,267.6	−0.008%	$902.1M	$1.51B	50x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	86,323	+0.056%	$714K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0170%	1h	86,331.8	+0.066%	$77K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0203%	8h	86,139.1	−0.157%	$415.1M	$640.9M	150x	as long as short
Kalshi KXBTCPERP	+0.0206%	8h	86,253	−0.025%	$10.4M	$765.6M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0221%	1h	86,206.3	−0.079%	$14.5M	—	200x	as long as short