Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.028%

Price spread now: Jupiter Perps against Gate+0.068%7-day average +0.013% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.113%−$11 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now +0.068%, 7d avg +0.013%

Together, before fees−0.106%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Jupiter Perps is 0.055% dearer against Gate than usual: you sell high and buy low (spread +0.068% now, against its 7-day average of +0.013%): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BTC_USDT	85,653.3	0.0100	pay 0.0100% / 8h	4h 53m	$5.54B	$10.53B	200x
Short	Jupiter Perps WBTC-PERP	85,711.6	L +0.0104% / S +0.0056%	pay 0.0007% / 1h	53m 52s	—	$106.5M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Jupiter PerpsbpOrdersPrice spread, now +0.068%Rate

Funding earned: −$32.76
Price spread: +0.068% → +0.013%: $5.48
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$54.28
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 min ago; Jupiter Perps: no order-book sample. Net counts fees only.

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	9.2 bp −$919	13.1 bp −$6,565
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3448%	1h	85,692.3	+0.046%	$194K	$725K	40x	as long as short
Phoenix BTC	−0.0160%	1h	85,659	+0.007%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,697	+0.051%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,676.2	+0.027%	$370K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0032%	8h	85,685.9	+0.038%	$417.6M	$666.0M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,713.4	+0.070%	$16.7M	$21.2M	50x	as long as short
KuCoin XBTUSDTM	0.0000%	8h	85,639.1	−0.017%	$919.9M	$750.0M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,678.8	+0.030%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0016%	8h	85,645.1	−0.010%	$516.1M	$1.10B	200x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,661.7	+0.010%	$6.9M	$97.1M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0040%	1h	85,676.7	+0.027%	$22.6M	$218.8M	50x	as long as short
BingX BTC-USDC	+0.0058%	8h	85,640.7	−0.015%	—	$17.1M	—	as long as short
ApeX Omni BTCUSDT	+0.0059%	1h	85,584.6	−0.080%	$139.9M	$315.1M	100x	as long as short
Bitget BTCUSDT	+0.0073%	8h	85,652.4	−0.001%	$2.96B	$5.01B	150x	as long as short
Reya BTCRUSDPERP	+0.0076%	1h	85,670.1	+0.020%	$6.7M	$146.6M	40x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,651.8	−0.002%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0087%	8h	85,649.2	−0.005%	$5.05B	$5.57B	500x	as long as short
Binance BTCUSDT	+0.0089%	8h	85,649.2	−0.005%	$9.34B	$23.96B	150x	as long as short
SoDEX BTC-USD	+0.0089%	1h	85,656	+0.003%	$60.0M	$336.1M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,664.2	+0.013%	$174.3M	$999.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,674.2	+0.024%	$23.8M	$148.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,675	+0.025%	$8.4M	$52.5M	100x	as long as short
Phemex BTCUSDT	+0.0098%	8h	85,663.7	+0.012%	$150.6M	$482.8M	150x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,726.2	+0.085%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,657	+0.004%	$198K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,730	+0.090%	$3.75B	$4.96B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,722.3	+0.080%	$40.1M	$576.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,654.3	+0.001%	$5.33B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,664.4	+0.013%	$2.58B	$12.10B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,687	+0.039%	$3.9M	$18.0M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,696.6	+0.051%	$648.3M	$574.6M	40x	as long as short
Gate BTC_USDTlong	+0.0100%	8h	85,653.3	long leg	$5.54B	$10.53B	200x
Backpack BTC_USDC_PERP	+0.0100%	1h	85,648.7	−0.005%	$36.1M	$175.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,690.1	+0.043%	$156.8M	$560.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,589.3	−0.075%	$279.5M	$917.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,627.1	−0.031%	$215.0M	$164.8M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,679.3	+0.030%	$30.3M	$207.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,731.3	+0.091%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,674	+0.024%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,666.8	+0.016%	$194K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,646.1	−0.008%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,649.9	−0.004%	$30.0M	$51.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,667.8	+0.017%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,684.1	+0.036%	$2.27B	$938.0M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,630.2	−0.027%	$44.5M	$226.3M	50x	as long as short
Jupiter Perps WBTC-PERPshort	L +0.0104% / S +0.0056%	1h	85,711.6	+0.068%	—	$106.5M	500x
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,703.8	+0.059%	$117.6M	$5.14B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,742	+0.104%	$340K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,681.5	+0.033%	$189.1M	$951.8M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0177% / S −0.0151%	1h	85,673.4	+0.023%	$13.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	85,717.3	+0.075%	$703K	$7.8M	30x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,709.2	+0.065%	$8.4M	$42.4M	25x	as long as short
Aftermath Perps BTCUSD	+0.0201%	1h	85,701.3	+0.056%	$78K	$219K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0215%	1h	85,706.8	+0.062%	$892.2M	$1.53B	50x	as long as short
Kalshi KXBTCPERP	+0.0219%	8h	85,721	+0.079%	$10.7M	$759.1M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,709.6	+0.066%	$494K	$18.9M	6.7x	as long as short