Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.016%

Price spread now: Extended against Gate−0.028%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$200.201% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.099%+$10 on $10k

Price spread, last 7 days+0.017%+$2 · spread now −0.028%, 7d avg −0.034%

Together, before fees+0.116%+ Points / potential airdropExtended: Active · farm board+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.034%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BTC_USDT	86,252.4	0.0092	pay 0.0092% / 8h	7h 19m	$5.77B	$10.57B	200x
Short	Extended BTC-USD	86,228.3	0.0104	get 0.0013% / 1h	19m 36s	$46.0M	$222.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.028%Rate

Funding earned: $2.52
Price spread: −0.028% → −0.034%: $0.63
Slippage, 4 orders: −$0.13
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$16.98
Costs to cover: 0.201%
Break-even: 54.2 days

Slippage from Gate: live order book, 5 min ago; Extended: 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	7.5 bp −$8	7.5 bp −$75	7.6 bp −$764	15.8 bp −$7,917
Sell Extended live order book, 5 min ago	0.06 bp	2.6 bp −$3	2.6 bp −$26	3.6 bp −$364	10.2 bp −$5,078

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	−0.0139%	1h	86,337.5	+0.099%	$144K	$666K	40x	as long as short
Phoenix BTC	−0.0129%	1h	86,359	+0.124%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,268	+0.018%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,263.8	+0.013%	$363K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,303.8	+0.060%	$481K	$21.4M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,316.4	+0.074%	$36.9M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,358	+0.122%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0023%	1h	86,292.5	+0.047%	$16.9M	$20.5M	50x	as long as short
Aster BTCUSDT	+0.0030%	8h	86,258.7	+0.007%	$500.3M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0042%	8h	86,242.9	−0.011%	$830.6M	$717.9M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0047%	1h	86,284.7	+0.037%	$6.7M	$145.8M	40x	as long as short
BingX BTC-USDT	+0.0050%	8h	86,249.4	−0.003%	—	$1.57B	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,265.6	+0.015%	$8.3M	$42.4M	25x	as long as short
Bitget BTCUSDT	+0.0064%	8h	86,248.7	−0.004%	$2.97B	$5.04B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,310.7	+0.068%	$2.5M	$1.8M	20x	as long as short
SoDEX BTC-USD	+0.0081%	1h	86,305	+0.061%	$60.4M	$338.2M	40x	as long as short
MEXC BTC_USDT	+0.0083%	8h	86,243.8	−0.010%	$5.13B	$5.73B	500x	as long as short
Binance BTCUSDT	+0.0083%	8h	86,260.3	+0.009%	$9.40B	$24.27B	150x	as long as short
Gate BTC_USDTlong	+0.0092%	8h	86,252.4	long leg	$5.77B	$10.57B	200x
Lighter BTC	+0.0096%	1h	86,247.2	−0.006%	$170.3M	$988.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,254.6	+0.003%	$23.7M	$151.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,260	+0.009%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,226	−0.031%	$197K	$7.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,263.7	+0.013%	$4.2M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,294.8	+0.049%	$22.1M	$227.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,296	+0.051%	$3.78B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,274.9	+0.026%	$40.6M	$558.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,279.9	+0.032%	$5.25B	$9.66B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,281.7	+0.034%	$2.56B	$12.45B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,240	−0.014%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,277.4	+0.029%	$7.2M	$94.9M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,289.7	+0.043%	$37.4M	$159.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,271.9	+0.023%	$157.9M	$558.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,274.4	+0.026%	$278.7M	$950.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,277	+0.029%	$216.6M	$165.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,283.5	+0.036%	$141.3M	$321.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,307.5	+0.064%	$30.6M	$208.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,326.8	+0.086%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,288	+0.041%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,304	+0.060%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,316.1	+0.074%	$2.4M	$8.9M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,332	+0.092%	$30.3M	$56.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,295.9	+0.050%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,275.9	+0.027%	$2.29B	$958.6M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	86,312.1	+0.069%	$155.1M	$473.1M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,411.1	+0.184%	$576.0M	$32.8M	40x	as long as short
Extended BTC-USDshort	+0.0104%	1h	86,228.3	−0.028%	$46.0M	$222.1M	50x
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,300.3	+0.055%	—	$98.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,341.1	+0.103%	$132.5M	$5.34B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,333.3	+0.094%	$192.4M	$944.4M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0153%	1h	86,350.1	+0.113%	$902.2M	$1.51B	50x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	86,341.8	+0.104%	$709K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0170%	1h	86,381.2	+0.149%	$77K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0203%	8h	86,280.1	+0.032%	$415.0M	$641.3M	150x	as long as short
Kalshi KXBTCPERP	+0.0206%	8h	86,311	+0.068%	$10.6M	$765.1M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0206% / S −0.0221%	1h	86,310.7	+0.068%	$14.5M	—	200x	as long as short