Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h +0.027%

Price spread now: RISEx against edgeX−0.077%7-day average +0.047% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$160.160% of the position

Long on edgeX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.145%+$15 on $10k

Price spread, last 7 days+0.123%+$12 · spread now −0.077%, 7d avg +0.047%

Together, before fees+0.269%+ 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 RISEx is 0.124% cheaper against edgeX than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.047%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.145%, 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	86,572.4	0.0100	pay 0.0050% / 4h	3h 56m	$279.6M	$946.5M	100x
Short	RISEx BTC/USDC	86,506	0.0052	get 0.0007% / 1h	56m 58s	$8.4M	$42.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.077%Rate

Funding earned: −$10.03
Price spread: −0.077% → +0.047%: −$12.37
Slippage, 4 orders: −$1.01
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$38.41
Costs to cover: 0.160%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; RISEx: live order book, 2 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, 2 min ago	0.02 bp	4.5 bp −$5	4.5 bp −$45	4.8 bp −$476	5.9 bp −$2,951
Sell RISEx live order book, 2 min ago	0.01 bp	3.7 bp −$4	3.7 bp −$37	12.7 bp −$1,273	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
Bluefin BTC-PERP	−0.1481%	1h	86,487.5	−0.098%	$140K	$664K	40x	as long as short
Phoenix BTC	−0.0118%	1h	86,544	−0.033%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,487	−0.099%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,492.8	−0.092%	$361K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,492	−0.093%	$413K	$22.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,494.6	−0.090%	$37.0M	—	200x	as long as short
dYdX BTC-USD	+0.0013%	1h	86,503	−0.080%	$16.9M	$21.2M	50x	as long as short
Aster BTCUSDT	+0.0015%	8h	86,444.6	−0.148%	$501.4M	$1.15B	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,616	+0.050%	$333K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0028%	8h	86,447.5	−0.144%	$834.3M	$727.9M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit BTCUSDT	+0.0039%	8h	86,451.5	−0.140%	$5.26B	$9.77B	150x	as long as short
Reya BTCRUSDPERP	+0.0039%	1h	86,467.9	−0.121%	$6.7M	$145.7M	40x	as long as short
BingX BTC-USDT	+0.0046%	8h	86,451	−0.140%	—	$1.59B	—	as long as short
RISEx BTC/USDCshort	+0.0052%	1h	86,506	−0.077%	$8.4M	$42.8M	25x
Bitget BTCUSDT	+0.0058%	8h	86,449.5	−0.142%	$2.97B	$5.11B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0059%	1h	86,483.2	−0.103%	$908.5M	$1.50B	50x	as long as short
SoDEX BTC-USD	+0.0071%	1h	86,439	−0.154%	$60.4M	$338.1M	40x	as long as short
MEXC BTC_USDT	+0.0076%	8h	86,443.3	−0.149%	$5.14B	$5.64B	500x	as long as short
Binance BTCUSDT	+0.0077%	8h	86,443.8	−0.149%	$9.43B	$24.54B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,468.9	−0.120%	$2.5M	$1.3M	20x	as long as short
Lighter BTC	+0.0096%	1h	86,451.4	−0.140%	$170.2M	$979.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,453.4	−0.137%	$23.7M	$148.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,473	−0.115%	$8.4M	$52.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,476	−0.111%	$201K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,515.6	−0.066%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,504.4	−0.079%	$22.1M	$233.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,526	−0.054%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,522.8	−0.057%	$40.8M	$540.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,460.1	−0.130%	$2.55B	$12.71B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,511	−0.071%	$3.9M	$18.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,525	−0.055%	$7.3M	$96.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,523.6	−0.056%	$572.9M	$12.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,452.2	−0.139%	$5.86B	$10.42B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,438.2	−0.155%	$37.7M	$156.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,554.4	−0.021%	$157.4M	$568.6M	—	as long as short
edgeX BTCUSDClong	+0.0100%	4h	86,572.4	long leg	$279.6M	$946.5M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,585.4	+0.015%	$217.4M	$171.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,575	+0.003%	$141.8M	$323.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,558	−0.017%	$30.7M	$208.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,533.5	−0.045%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,467	−0.122%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,472.4	−0.116%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,442.9	−0.150%	$2.5M	$9.3M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,480.6	−0.106%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,486.5	−0.099%	$3.4M	$5.3M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,439.2	−0.154%	$2.29B	$969.3M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	86,450.1	−0.141%	$152.9M	$479.4M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	86,433.1	−0.161%	$45.8M	$224.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,533.3	−0.045%	—	$100.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,481.8	−0.105%	$132.4M	$5.62B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,465.1	−0.124%	$193.1M	$951.7M	100x	as long as short
Aftermath Perps BTCUSD	+0.0163%	1h	86,556.4	−0.019%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	86,563.5	−0.010%	$716K	$8.0M	30x	as long as short
BloFin BTC-USDT	+0.0197%	8h	86,444.4	−0.148%	$414.8M	$658.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0201% / S −0.0224%	1h	86,488	−0.098%	$14.9M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0210%	8h	86,533	−0.046%	$9.2M	$758.0M	6.4x	as long as short