Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.030%

Price spread now: StandX against edgeX+0.119%63s7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs+$3as 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−$200.198% of the position

Long on edgeX Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.227%+$23 on $10k

Price spread, last 7 days−0.121%−$12 · spread now +0.119%, 7d avg +0.034%

Together, before fees+0.106%+ Points / potential airdropedgeX: Active · StandX: Active · farm board+$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: StandX is 0.085% dearer against edgeX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.034%. The two prices were read 63 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	86,420.7	0.0100	pay 0.0050% / 4h	54m 07s	$279.3M	$944.4M	100x
Short	StandX BTC-USD	86,523.5	0.0100	get 0.0013% / 1h	54m 07s	$30.7M	$204.5M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX 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 StandXbpOrdersPrice spread, now +0.119%Rate

Funding earned: $0
Price spread: +0.119% → +0.034%: $8.48
Slippage, 4 orders: −$2.84
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee StandX: 4 bp × 2 orders: −$8
Net: −$11.36
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; StandX: live order book, 5 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, 5 min ago	0.02 bp	4.5 bp −$5	4.5 bp −$45	4.6 bp −$459	5.2 bp −$2,580
Sell StandX live order book, 5 min ago	0.87 bp	4.9 bp −$5	5.6 bp −$56	6.3 bp −$631	8.6 bp −$4,299

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	−0.0159%	1h	86,468	+0.055%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,528	+0.124%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,601	+0.209%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,548.4	+0.148%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,551.1	+0.151%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0004%	8h	86,549.9	+0.149%	$503.9M	$1.15B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,554.4	+0.155%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0009%	8h	86,551.2	+0.151%	$850.5M	$713.8M	125x	as long as short
Reya BTCRUSDPERP	+0.0024%	1h	86,533	+0.130%	$6.7M	$145.2M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0025%	1h	86,579.3	+0.183%	$917.2M	$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
BingX BTC-USDT	+0.0040%	8h	86,546.5	+0.146%	—	$1.59B	—	as long as short
dYdX BTC-USD	+0.0041%	1h	86,547.3	+0.146%	$17.0M	$21.1M	50x	as long as short
Phemex BTCUSDT	+0.0042%	8h	86,543.9	+0.143%	$149.8M	$478.3M	150x	as long as short
Bitget BTCUSDT	+0.0051%	8h	86,543.2	+0.142%	$2.96B	$5.12B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,555	+0.155%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0069%	8h	86,546.4	+0.145%	$5.13B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0070%	8h	86,544.3	+0.143%	$9.43B	$24.52B	150x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,543.8	+0.142%	$5.88B	$10.70B	200x	as long as short
Aftermath Perps BTCUSD	+0.0089%	1h	86,483.1	+0.072%	$79K	$220K	20x	as long as short
Lighter BTC	+0.0096%	1h	86,558.6	+0.160%	$170.4M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,569.3	+0.172%	$24.1M	$151.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,541	+0.139%	$8.5M	$52.5M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,541.9	+0.140%	$5.26B	$9.80B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,526	+0.122%	$199K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,562.9	+0.164%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,546.4	+0.145%	$21.9M	$234.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,622	+0.233%	$3.80B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,554.3	+0.155%	$41.2M	$521.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,545.9	+0.145%	$2.54B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,530	+0.126%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,571.9	+0.175%	$7.6M	$94.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,382.9	−0.044%	$571.1M	$18.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,544.2	+0.143%	$37.9M	$154.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,463.3	+0.049%	$155.7M	$568.3M	—	as long as short
edgeX BTCUSDClong	+0.0100%	4h	86,420.7	long leg	$279.3M	$944.4M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,455.1	+0.040%	$217.0M	$173.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,442	+0.025%	$141.3M	$323.3M	100x	as long as short
StandX BTC-USDshort	+0.0100%	1h	86,523.5	+0.119%	$30.7M	$204.5M	40x
Vest BTC-PERP	+0.0100%	1h	86,583.1	+0.188%	—	$11.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,536	+0.133%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,542	+0.140%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,542.1	+0.140%	$2.4M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,572.5	+0.176%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,588.4	+0.194%	$30.6M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,531.5	+0.128%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,546	+0.145%	$60.5M	$337.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,535.6	+0.133%	$2.30B	$969.3M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,537.9	+0.136%	$45.3M	$226.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,554.8	+0.155%	—	$99.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,574.8	+0.178%	$192.1M	$948.0M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,536.9	+0.134%	$416K	$23.4M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,589.4	+0.195%	$132.7M	$5.68B	50x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	86,576.8	+0.181%	$718K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0189%	8h	86,530.5	+0.127%	$414.8M	$656.3M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0190% / S −0.0212%	1h	86,549.5	+0.149%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0203%	8h	86,567	+0.169%	$9.8M	$739.0M	6.4x	as long as short