Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0007%/8h= +0.8% APRpaid last 24h +0.018%

Price spread now: Aster against gTrade (Gains Network)−0.055%7-day average −0.010% · 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−$20as in the Price arb table

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

Long on gTrade (Gains Network)Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.068%+$7 on $10k

Price spread, last 3 days (all we have)+0.053%+$5 · spread now −0.055%, 7d avg −0.010%

Together, before fees+0.121%+ Points / potential airdropAster: Stage 5 · farm board+$12 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: Aster is 0.044% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BTC/USD	86,635.1	L +0.0005% / S −0.0005%	pay 0.0001% / 1h	47m 22s	$36.6M	—	200x
Short	Aster BTCUSDT	86,587.8	0.0012	get 0.0012% / 8h	2h 47m	$505.6M	$1.16B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee AsterbpOrdersPrice spread, now −0.055%Rate

Funding earned: $1.54
Price spread: −0.055% → −0.010%: −$4.41
Slippage, 4 orders: −$1.04
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$18.92
Costs to cover: 0.160%
Break-even: 93.3 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 2 min ago; Aster: 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 gTrade (Gains Network) virtual book (oracle venue), 2 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,183
Sell Aster live order book, 2 min ago	0.01 bp	4.0 bp −$4	4.4 bp −$44	4.9 bp −$492	7.1 bp −$3,530

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
Perpl BTC	−0.0335%	43m	86,624.5	−0.012%	$426K	$25.1M	6.7x	as long as short
Aftermath Perps BTCUSD	−0.0205%	1h	86,674	+0.045%	$85K	$188K	20x	as long as short
Phoenix BTC	−0.0103%	1h	86,579	−0.065%	$2.2M	$12.4M	40x	as long as short
dYdX BTC-USD	−0.0092%	1h	86,651.2	+0.019%	$18.0M	$20.0M	50x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,596	−0.045%	$9K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0002%	8h	86,595	−0.046%	$844.7M	$709.3M	125x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,628.4	−0.008%	$361K	$2.5M	50x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,643.1	+0.009%	$938.7M	$1.42B	50x	as long as short
gTrade (Gains Network) BTC/USDlong	L +0.0005% / S −0.0005%	1h	86,635.1	long leg	$36.6M	—	200x
Aster BTCUSDTshort	+0.0012%	8h	86,587.8	−0.055%	$505.6M	$1.16B	200x

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0021%	1h	86,601	−0.039%	$6.7M	$144.0M	40x	as long as short
BingX BTC-USDT	+0.0021%	8h	86,603.2	−0.037%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0026%	8h	86,606.6	−0.033%	$149.6M	$470.6M	150x	as long as short
Bitget BTCUSDT	+0.0027%	8h	86,600.1	−0.040%	$2.94B	$5.07B	150x	as long as short
MEXC BTC_USDT	+0.0048%	8h	86,599.5	−0.041%	$5.19B	$5.64B	500x	as long as short
Aevo BTC-PERP	+0.0048%	1h	86,616.5	−0.022%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0048%	8h	86,600.3	−0.040%	$9.43B	$24.30B	150x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,732	+0.112%	$315K	$26.8M	52x	as long as short
OKX BTC-USDT-SWAP	+0.0061%	8h	86,607.2	−0.032%	$2.57B	$12.69B	100x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,620.7	−0.017%	$9.2M	$42.1M	25x	as long as short
Gate BTC_USDT	+0.0066%	8h	86,606.4	−0.033%	$5.86B	$10.58B	200x	as long as short
Bybit BTCUSDT	+0.0079%	8h	86,603.3	−0.037%	$5.28B	$9.66B	150x	as long as short
Variational Omni BTC	+0.0088%	8h	86,626.8	−0.010%	$159.8M	$564.2M	—	as long as short
Lighter BTC	+0.0096%	1h	86,621.4	−0.016%	$171.8M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,623.7	−0.013%	$24.0M	$152.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,603	−0.037%	$8.5M	$52.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0097%	8h	86,590	−0.052%	$217.4M	$189.0M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0099%	8h	86,623.7	−0.013%	$2.5M	$8.5M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,648.1	+0.015%	$4.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,595	−0.046%	$200K	$6.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,599.5	−0.041%	$21.8M	$236.2M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,678.8	+0.050%	$3.83B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,638.6	+0.004%	$40.9M	$485.8M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,609	−0.030%	$3.9M	$18.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,678.6	+0.050%	$7.4M	$94.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,665	+0.035%	$572.2M	$23.5M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,637.4	+0.003%	$38.2M	$148.1M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,590.7	−0.051%	$279.7M	$948.0M	100x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,636.4	+0.002%	$141.8M	$322.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,613.9	−0.024%	$30.8M	$205.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,670.5	+0.041%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,609	−0.030%	$11.0M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,607.3	−0.032%	$198K	$3.4M	20x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,629	−0.007%	$141K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,614.1	−0.024%	$30.0M	$61.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,600.3	−0.040%	$3.4M	$5.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,602	−0.038%	$60.4M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,604.4	−0.035%	$2.30B	$955.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,607.6	−0.032%	$46.6M	$229.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,631.8	−0.004%	—	$98.0M	500x	as long as short
Kalshi KXBTCPERP	+0.0109%	8h	86,664	+0.033%	$8.8M	$723.2M	6.4x	as long as short
Kraken Futures PF_XBTUSD	+0.0117%	1h	86,641.1	+0.007%	$191.5M	$927.4M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,654	+0.022%	$131.9M	$5.88B	50x	as long as short
BloFin BTC-USDT	+0.0168%	8h	86,618.6	−0.019%	$418.8M	$642.0M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0181% / S −0.0198%	1h	86,622.7	−0.014%	$15.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0208%	1h	86,618.9	−0.019%	$601K	$7.2M	30x	as long as short