Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.011%

Price spread now: edgeX against Gate−0.022%112s7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as 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−$240.241% of the position

Long on Gate Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.149%−$15 on $10k

Price spread, last 7 days+0.009%+$1 · spread now −0.022%, 7d avg −0.036%

Together, before fees−0.140%+ Points / potential airdropedgeX: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.036%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.149%, so the current rate has only just turned in your favour. The two prices were read 112 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	Gate BTC_USDT	86,625.3	0.0080	pay 0.0080% / 8h	1h 39m	$5.85B	$10.64B	200x
Short	edgeX BTCUSDC	86,606.7	0.0100	get 0.0050% / 4h	1h 39m	$279.8M	$943.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Gate. 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 GatebpFee edgeXbpOrdersPrice spread, now −0.022%Rate

Funding earned: $4.2
Price spread: −0.022% → −0.036%: $1.47
Slippage, 4 orders: −$0.12
Fee Gate: 7.5 bp × 2 orders: −$15
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$18.45
Costs to cover: 0.241%
Break-even: 37.8 days

Slippage from Gate: live order book, 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 Gate live order book, 5 min ago	0.01 bp	7.6 bp −$8	8.1 bp −$81	8.5 bp −$850	11.3 bp −$5,673
Sell edgeX live order book, 5 min ago	0.02 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$473	5.7 bp −$2,862

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	−0.0943%	1h	86,703.5	+0.090%	$141K	$618K	40x	as long as short
Aftermath Perps BTCUSD	−0.0167%	1h	86,646.7	+0.025%	$83K	$206K	20x	as long as short
Phoenix BTC	−0.0159%	1h	86,603	−0.026%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,631	+0.007%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0011%	1h	86,679.3	+0.062%	$17.5M	$20.3M	50x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,651	+0.030%	$359K	$2.4M	50x	as long as short
Aster BTCUSDT	−0.0007%	8h	86,652.3	+0.031%	$505.8M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,695.7	+0.081%	$419K	$24.0M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,716	+0.105%	$925.8M	$1.47B	50x	as long as short
KuCoin XBTUSDTM	+0.0001%	8h	86,619	−0.007%	$852.0M	$707.6M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,705.9	+0.093%	$36.9M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,632.4	+0.008%	$8.6M	$43.2M	25x	as long as short
Phemex BTCUSDT	+0.0021%	8h	86,685.6	+0.070%	$150.1M	$473.4M	150x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,677.8	+0.061%	$6.7M	$144.8M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	−0.077%	$315K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0032%	8h	86,630.7	+0.006%	—	$1.59B	—	as long as short
Hibachi BTC/USDT-P	+0.0032%	1h	86,712.1	+0.100%	$733K	$8.2M	30x	as long as short
Bitget BTCUSDT	+0.0042%	8h	86,629.7	+0.005%	$2.96B	$5.07B	150x	as long as short
MEXC BTC_USDT	+0.0061%	8h	86,634	+0.010%	$5.19B	$5.64B	500x	as long as short
Binance BTCUSDT	+0.0061%	8h	86,634.7	+0.011%	$9.43B	$24.30B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,673.2	+0.055%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDTlong	+0.0080%	8h	86,625.3	long leg	$5.85B	$10.64B	200x
Bybit BTCUSDT	+0.0090%	8h	86,630.8	+0.006%	$5.28B	$9.69B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,647.3	+0.025%	$172.1M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,675.5	+0.058%	$24.1M	$151.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,630	+0.005%	$8.5M	$52.2M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,616	−0.011%	$206K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,695.7	+0.081%	$4.8M	$8.4M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,679.3	+0.062%	$21.9M	$233.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,731	+0.122%	$3.82B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,680.1	+0.063%	$41.1M	$505.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,633	+0.009%	$2.55B	$12.70B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,632	+0.008%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,701.4	+0.088%	$7.4M	$93.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,703.1	+0.090%	$573.0M	$18.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,678.9	+0.062%	$38.4M	$153.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,696.3	+0.082%	$156.8M	$565.9M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	86,606.7	−0.022%	$279.8M	$943.1M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,610.1	−0.018%	$217.3M	$177.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,623.7	−0.002%	$141.6M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,664	+0.045%	$30.7M	$203.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,734.1	+0.126%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,687	+0.071%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,688.9	+0.073%	$193K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,692.1	+0.077%	$2.5M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,681.8	+0.065%	$30.1M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,676.7	+0.059%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,681	+0.064%	$60.6M	$337.0M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,679.7	+0.063%	$2.30B	$963.9M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,611.5	−0.016%	$46.3M	$225.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,694.6	+0.080%	—	$98.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,722.5	+0.112%	$131.7M	$5.73B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,715.1	+0.104%	$191.8M	$936.9M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0208%	1h	86,701.6	+0.088%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0181%	8h	86,665.7	+0.047%	$415.5M	$652.4M	150x	as long as short
Kalshi KXBTCPERP	+0.0193%	8h	86,710	+0.098%	$9.6M	$727.2M	6.4x	as long as short