Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h −0.003%

Price spread now: edgeX against gTrade (Gains Network)−0.054%7-day average −0.035% · 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 gTrade (Gains Network)Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.062%−$6 on $10k

Price spread, last 3 days (all we have)−0.001%$0 · spread now −0.054%, 7d avg −0.035%

Together, before fees−0.063%+ Points / potential airdropedgeX: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair cost −0.062%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BTC/USD	86,596.7	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	59m 13s	$37.0M	—	200x
Short	edgeX BTCUSDC	86,550.1	0.0100	get 0.0050% / 4h	3h 59m	$279.6M	$948.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.054%Rate

Funding earned: $20.02
Price spread: −0.054% → −0.035%: −$1.9
Slippage, 4 orders: −$1.07
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $1.06
Costs to cover: 0.171%
Break-even: 6.6 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 5 min ago; edgeX: 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 gTrade (Gains Network) virtual book (oracle venue), 5 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$447	6.4 bp −$3,184
Sell edgeX live order book, 5 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$473	5.8 bp −$2,876

BTC on 55 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	−0.8000%	1h	86,597	0.000%	$140K	$663K	40x	as long as short
Phoenix BTC	−0.0118%	1h	86,586	−0.012%	$2.2M	$11.1M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,589	−0.009%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	86,601.5	+0.006%	$361K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,594.1	−0.003%	$413K	$22.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USDlong	L +0.0005% / S −0.0004%	1h	86,596.7	long leg	$37.0M	—	200x
Aster BTCUSDT	+0.0016%	8h	86,579.6	−0.020%	$502.2M	$1.15B	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,616	+0.022%	$333K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0028%	8h	86,571.9	−0.029%	$835.2M	$728.7M	125x	as long as short
Reya BTCRUSDPERP	+0.0039%	1h	86,588.6	−0.009%	$6.6M	$145.6M	40x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0045%	8h	86,537.2	−0.069%	—	$15.4M	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,601.5	+0.006%	$8.4M	$42.8M	25x	as long as short
Popdex BTCUSDT	+0.0056%	1h	86,595	−0.002%	$8.5M	$52.2M	100x	as long as short
Phemex BTCUSDT	+0.0057%	8h	86,583.4	−0.015%	$152.8M	$479.5M	150x	as long as short
Bitget BTCUSDT	+0.0058%	8h	86,551.7	−0.052%	$2.97B	$5.12B	150x	as long as short
dYdX BTC-USD	+0.0064%	1h	86,610.1	+0.015%	$17.0M	$21.2M	50x	as long as short
SoDEX BTC-USD	+0.0066%	1h	86,578	−0.022%	$60.6M	$338.0M	40x	as long as short
MEXC BTC_USDT	+0.0076%	8h	86,564.3	−0.037%	$5.16B	$5.63B	500x	as long as short
Binance BTCUSDT	+0.0077%	8h	86,572.8	−0.028%	$9.45B	$24.55B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,576.3	−0.024%	$2.5M	$1.2M	20x	as long as short
Gate BTC_USDT	+0.0083%	8h	86,559.4	−0.043%	$5.88B	$10.41B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,593.3	−0.004%	$170.4M	$979.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,597.9	+0.001%	$23.8M	$148.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,597.9	+0.001%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,584.9	−0.014%	$22.0M	$234.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,628	+0.036%	$3.80B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,618.3	+0.025%	$40.8M	$540.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,553	−0.050%	$5.27B	$9.80B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,556.8	−0.046%	$2.55B	$12.74B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,590	−0.008%	$3.9M	$18.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,620.3	+0.027%	$7.0M	$96.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,552.5	−0.051%	$38.2M	$156.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,554.4	−0.049%	$157.4M	$568.6M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	86,550.1	−0.054%	$279.6M	$948.7M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,585.4	−0.013%	$217.4M	$171.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,575	−0.025%	$141.8M	$323.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,588	−0.010%	$30.7M	$208.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,637.8	+0.047%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,592	−0.005%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,582	−0.017%	$194K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,574.5	−0.026%	$2.5M	$9.3M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,611.8	+0.017%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,586.5	−0.012%	$3.4M	$5.3M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,577.2	−0.023%	$2.30B	$970.2M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,452.9	−0.166%	$572.2M	$12.3M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,559.2	−0.043%	$45.8M	$225.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,601.3	+0.005%	—	$100.1M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,626.5	+0.034%	$132.2M	$5.64B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,611.9	+0.018%	$193.5M	$952.6M	100x	as long as short
Aftermath Perps BTCUSD	+0.0163%	1h	86,579.1	−0.020%	$78K	$219K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0164%	1h	86,624.6	+0.032%	$910.2M	$1.50B	50x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	86,624.7	+0.032%	$717K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0197%	8h	86,561	−0.041%	$415.4M	$659.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0201% / S −0.0224%	1h	86,591.7	−0.006%	$14.9M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0210%	8h	86,606	+0.011%	$10.1M	$756.8M	6.4x	as long as short