Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0138%/8h= −15.1% APRpaid last 24h −0.003%

Price spread now: SoDEX against edgeX−0.001%7-day average +0.017% · 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−$19as in the Price arb table

costs, in and out, $10k−$170.171% of the position

Long on edgeX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.119%+$12 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now −0.001%, 7d avg +0.017%

Together, before fees+0.103%+ Points / potential airdropedgeX: Active · farm board+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.017%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.119%, 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	85,825	0.0100	pay 0.0050% / 4h	1h 30m	$289.2M	$764.7M	100x
Short	SoDEX BTC-USD	85,824	−0.0038	pay 0.0005% / 1h	30m 47s	$65.8M	$187.8M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$28.97
Price spread: −0.001% → +0.017%: −$1.81
Slippage, 4 orders: −$0.15
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$47.93
Costs to cover: 0.171%
Break-even: never at this rate

Slippage from edgeX: live order book, 1 min ago; SoDEX: live order book, 1 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	0.02 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$469	5.7 bp −$2,841
Sell SoDEX live order book, 1 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.3 bp −$526	43.9 bp −$21.9K

BTC on 55 exchanges

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	−0.0133%	1h	85,846	+0.025%	$2.0M	$7.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,110	+0.332%	$8K	$2K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,837.4	+0.014%	$366K	$2.0M	50x	as long as short
SoDEX BTC-USDshort	−0.0038%	1h	85,824	−0.001%	$65.8M	$187.8M	40x
BloFin BTC-USDT	−0.0034%	8h	85,841	+0.019%	$422.1M	$555.8M	150x	as long as short
Bluefin BTC-PERP	−0.0012%	1h	85,869.3	+0.052%	$194K	$556K	40x	as long as short
dYdX BTC-USD	0.0000%	1h	85,865.6	+0.047%	$16.8M	$14.5M	50x	as long as short
Perpl BTC	0.0000%	43m	85,864.7	+0.046%	$470K	$13.5M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,862.8	+0.044%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0009%	1h	85,803	−0.026%	$300K	$27.5M	52x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BTCUSDT	+0.0019%	8h	85,827.6	+0.003%	$511.2M	$872.3M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0030%	1h	85,835.1	+0.012%	$192.5M	$759.0M	100x	as long as short
Popdex BTCUSDT	+0.0032%	1h	85,836	+0.013%	$8.5M	$45.6M	100x	as long as short
BingX BTC-USDT	+0.0032%	8h	85,843.8	+0.022%	—	$1.33B	—	as long as short
Bybit BTCUSDT	+0.0042%	8h	85,849.8	+0.029%	$5.13B	$8.10B	150x	as long as short
KuCoin XBTUSDTM	+0.0053%	8h	85,814.5	−0.012%	$935.6M	$640.6M	125x	as long as short
ApeX Omni BTCUSDT	+0.0055%	1h	85,918.8	+0.109%	$138.0M	$292.2M	100x	as long as short
Gate BTC_USDT	+0.0064%	8h	85,845.4	+0.024%	$5.50B	$8.95B	200x	as long as short
Phemex BTCUSDT	+0.0074%	8h	85,816.5	−0.010%	$169.0M	$476.7M	150x	as long as short
HTX BTC-USDT	+0.0079%	8h	85,828.1	+0.004%	$2.27B	$799.1M	200x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,814.3	−0.012%	$2.4M	$6.8M	20x	as long as short
Bullet BTC-USD	+0.0085%	1h	85,849.2	+0.028%	$210K	$3.2M	20x	as long as short
Binance BTCUSDT	+0.0086%	8h	85,839	+0.016%	$9.41B	$20.50B	150x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,815.5	−0.011%	$5.15B	$4.87B	500x	as long as short
Bitget BTCUSDT	+0.0089%	8h	85,848.8	+0.028%	$2.98B	$3.94B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,836.7	+0.014%	$173.0M	$862.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,842.4	+0.020%	$23.6M	$120.6M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,821	−0.005%	$219K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,871.9	+0.055%	$6.0M	$7.4M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	85,850.4	+0.030%	$23.4M	$193.8M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,872.9	+0.056%	$40.2M	$569.9M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,858.1	+0.039%	$2.62B	$9.44B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,830	+0.006%	$3.9M	$15.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,856.9	+0.037%	$4.8M	$91.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,810.7	−0.017%	$38.0M	$195.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,938.6	+0.132%	$157.5M	$475.1M	—	as long as short
edgeX BTCUSDClong	+0.0100%	4h	85,825	long leg	$289.2M	$764.7M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,996.6	+0.200%	$216.1M	$135.0M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,861.2	+0.042%	$30.2M	$224.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,896.1	+0.083%	—	$10.0M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,849	+0.028%	$11.1M	$12.1M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,828.5	+0.004%	$2.6M	$8.9M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,842.8	+0.021%	$3.3M	$6.7M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,956.9	+0.154%	$714.6M	$116.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,786.3	−0.045%	$47.0M	$194.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,863.7	+0.045%	—	$80.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	85,869	+0.051%	$112.2M	$4.95B	50x	as long as short
Kalshi KXBTCPERP	+0.0158%	8h	85,869	+0.051%	$11.9M	$739.0M	6.4x	as long as short
Hyperliquid BTC	+0.0158%	1h	85,936	+0.129%	$3.95B	$4.27B	40x	as long as short
Reya BTCRUSDPERP	+0.0166%	1h	85,835.3	+0.012%	$6.6M	$131.1M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0174%	1h	85,879.1	+0.063%	$819.8M	$1.51B	50x	as long as short
RISEx BTC/USDC	+0.0187%	1h	85,867	+0.049%	$8.9M	$36.4M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0212% / S −0.0253%	1h	85,855.1	+0.035%	$15.6M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0336%	1h	85,929.2	+0.121%	$713K	$6.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0424%	1h	85,935	+0.128%	$79K	$241K	20x	as long as short