Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0070%/8h= +7.7% APRpaid last 24h +0.016%

Price spread now: Kraken Futures against edgeX+0.019%7-day average +0.040% · 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−$21as in the Price arb table

costs, in and out, $10k−$190.194% of the position

Long on edgeX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.206%+$21 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.019%, 7d avg +0.040%

Together, before fees+0.149%+ Points / potential airdropedgeX: Active · farm board+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.021% cheaper against edgeX than usual: you would sell low and buy high (spread +0.019% now, against its 7-day average of +0.040%). If the spread goes back, that is −$2 on $10k: about 24 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BTCUSDC	85,507.5	0.0100	pay 0.0050% / 4h	45m 15s	$279.3M	$919.2M	100x
Short	Kraken Futures PF_XBTUSD	85,523.4	0.0170	get 0.0021% / 1h	45m 15s	$188.8M	$953.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.019%Rate

Funding earned: $14.75
Price spread: +0.019% → +0.040%: −$2.11
Slippage, 4 orders: −$0.37
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$6.73
Costs to cover: 0.194%
Break-even: 10.2 days

Slippage from edgeX: live order book, 4 min ago; Kraken Futures: 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	0.01 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$467	5.7 bp −$2,854
Sell Kraken Futures live order book, 4 min ago	0.06 bp	5.1 bp −$5	6.3 bp −$63	7.5 bp −$755	9.6 bp −$4,782

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	−0.0787%	1h	85,546.9	+0.046%	$194K	$725K	40x	as long as short
Phoenix BTC	−0.0179%	1h	85,410	−0.114%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,464	−0.051%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,508	+0.001%	$366K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0032%	8h	85,503.7	−0.004%	$417.0M	$665.6M	150x	as long as short
KuCoin XBTUSDTM	−0.0004%	8h	85,500.2	−0.009%	$919.2M	$750.2M	125x	as long as short
dYdX BTC-USD	0.0000%	1h	85,499.7	−0.009%	$16.7M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,520.9	+0.016%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0012%	8h	85,479.2	−0.033%	$515.1M	$1.10B	200x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,495.6	−0.014%	$6.9M	$97.2M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0056%	1h	85,508.8	+0.001%	$22.7M	$219.1M	50x	as long as short
BingX BTC-USDC	+0.0060%	8h	85,491.6	−0.019%	—	$17.1M	—	as long as short
Bitget BTCUSDT	+0.0075%	8h	85,505.9	−0.002%	$2.96B	$5.02B	150x	as long as short
Reya BTCRUSDPERP	+0.0078%	1h	85,502.7	−0.006%	$6.7M	$146.6M	40x	as long as short
MEXC BTC_USDT	+0.0088%	8h	85,510.7	+0.004%	$5.04B	$5.58B	500x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,506	−0.002%	$2.5M	$1.7M	20x	as long as short
Binance BTCUSDT	+0.0088%	8h	85,503.8	−0.004%	$9.35B	$24.02B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,507.7	0.000%	$173.6M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,511.8	+0.005%	$23.8M	$148.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,512	+0.005%	$8.4M	$52.6M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,568.3	+0.071%	$4.1M	$8.5M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,494	−0.016%	$233K	$7.9M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,588	+0.094%	$3.75B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,535.3	+0.033%	$40.1M	$575.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,503.4	−0.005%	$5.25B	$9.67B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,513.7	+0.007%	$2.57B	$12.09B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,489	−0.022%	$3.9M	$18.0M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,696.6	+0.221%	$648.3M	$574.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,509.3	+0.002%	$5.54B	$10.58B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,489.3	−0.021%	$35.8M	$176.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,466.8	−0.048%	$153.8M	$563.2M	—	as long as short
edgeX BTCUSDClong	+0.0100%	4h	85,507.5	long leg	$279.3M	$919.2M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,550.2	+0.050%	$214.8M	$166.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,562.7	+0.065%	$139.9M	$314.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,472.6	−0.041%	$30.2M	$207.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,561.8	+0.063%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,504	−0.004%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,510	+0.003%	$194K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,511.3	+0.004%	$2.3M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,506.9	−0.001%	$29.9M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,490.8	−0.020%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,498	−0.011%	$59.9M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,500	−0.009%	$2.26B	$940.0M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,503.8	−0.004%	$150.8M	$483.2M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,482.8	−0.029%	$44.5M	$226.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,521.8	+0.017%	—	$106.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,527	+0.023%	$117.3M	$5.16B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,472	−0.042%	$339K	$26.9M	52x	as long as short
Deribit BTC-PERPETUAL	+0.0164%	1h	85,540.4	+0.038%	$893.7M	$1.53B	50x	as long as short
Kraken Futures PF_XBTUSDshort	+0.0170%	1h	85,523.4	+0.019%	$188.8M	$953.3M	100x
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,519.7	+0.014%	$13.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	85,515.4	+0.009%	$693K	$7.9M	30x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,538.7	+0.036%	$8.3M	$42.4M	25x	as long as short
Aftermath Perps BTCUSD	+0.0203%	1h	85,575.1	+0.079%	$78K	$219K	20x	as long as short
Kalshi KXBTCPERP	+0.0217%	8h	85,537	+0.034%	$10.4M	$758.8M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,528.3	+0.024%	$498K	$18.9M	6.7x	as long as short