Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against GRVT−0.035%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$200.200% of the position

Long on GRVT Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.035%+$4 · spread now −0.035%, 7d avg −0.008%

Together, before fees+0.027%+ Points / potential airdropGRVT: Active · farm board+$3 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: SunX is 0.027% cheaper against GRVT than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BTC_USDT_Perp	85,278.8	0.0100	pay 0.0100% / 8h	0m 49s	$214.0M	$159.3M	50x
Short	SunX BTC-USDT	85,249	0.0100	get 0.0100% / 8h	0m 49s	$2.9M	$6.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against GRVT. 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 GRVTbpFee SunXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $0
Price spread: −0.035% → −0.008%: −$2.73
Slippage, 4 orders: −$2.99
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$22.72
Costs to cover: 0.200%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 min ago; SunX: live order book, 8 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 GRVT live order book, 3 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	4.9 bp −$489	9.0 bp −$4,490
Sell SunX live order book, 8 min ago	0.57 bp	5.7 bp −$6	6.1 bp −$61	7.9 bp −$786	11.0 bp −$5,517

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
Hotstuff BTC-PERP	−0.0080%	1h	85,266	−0.015%	$8K	$3K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,306	+0.032%	$2.3M	$10.8M	40x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,279.8	+0.001%	$421.4M	$684.9M	150x	as long as short
KuCoin XBTUSDTM	−0.0003%	8h	85,282	+0.004%	$928.8M	$776.6M	125x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,290.2	+0.013%	$345K	$2.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,294.1	+0.018%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0018%	8h	85,291.6	+0.015%	$502.3M	$1.09B	200x	as long as short
dYdX BTC-USD	+0.0021%	1h	85,277.8	−0.001%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,290.7	+0.014%	$186.3M	$953.9M	100x	as long as short
Injective BTC/USDC PERP	+0.0067%	1h	85,267	−0.014%	$311K	$26.1M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0067%	8h	85,263.8	−0.018%	—	$17.5M	—	as long as short
Bybit BTCUSDT	+0.0090%	8h	85,294.6	+0.018%	$5.09B	$10.03B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0091%	1h	85,313.9	+0.041%	$829.7M	$1.67B	50x	as long as short
Nado BTC-PERP	+0.0096%	1h	85,250.1	−0.034%	$24.0M	$219.8M	50x	as long as short
Lighter BTC	+0.0096%	1h	85,307.7	+0.034%	$169.5M	$1.03B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,305.5	+0.031%	$23.6M	$149.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,283	+0.005%	$8.4M	$57.9M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,278	−0.001%	$2.4M	$6.7M	20x	as long as short
ApeX Omni BTCUSDT	+0.0097%	1h	85,273.7	−0.006%	$138.0M	$312.8M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,241	−0.044%	$264K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,335	+0.066%	$5.7M	$9.5M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,311.9	+0.039%	$40.0M	$605.4M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,289.6	+0.013%	$9.40B	$25.18B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,299.1	+0.024%	$2.61B	$12.26B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,251	−0.033%	$3.8M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,276.5	−0.003%	$4.6M	$97.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,256	−0.027%	$695.2M	$190.7M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,274.3	−0.005%	$5.46B	$11.19B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,291.9	+0.015%	$5.03B	$5.78B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,280	+0.001%	$2.97B	$5.20B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,285.8	+0.008%	$36.7M	$191.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,265.8	−0.015%	$155.3M	$548.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,267.5	−0.013%	$282.8M	$959.2M	100x	as long as short
GRVT BTC_USDT_Perplong	+0.0100%	8h	85,278.8	long leg	$214.0M	$159.3M	50x
StandX BTC-USD	+0.0100%	1h	85,287	+0.010%	$30.1M	$215.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,352.9	+0.087%	—	$9.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,282	+0.004%	$10.9M	$15.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,285.5	+0.008%	$199K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,279.8	+0.001%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,334.1	+0.065%	$193K	$796K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,317.2	+0.045%	$28.8M	$46.9M	15x	as long as short
SunX BTC-USDTshort	+0.0100%	8h	85,249	−0.035%	$2.9M	$6.1M	100x
SoDEX BTC-USD	+0.0100%	1h	85,276	−0.003%	$59.7M	$336.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,267.5	−0.013%	$2.25B	$974.1M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,293	+0.017%	$158.8M	$516.3M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,257.3	−0.025%	$45.7M	$241.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,266.9	−0.014%	—	$106.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,334.7	+0.066%	$111.6M	$5.47B	50x	as long as short
Hyperliquid BTC	+0.0131%	1h	85,367	+0.103%	$3.79B	$5.11B	40x	as long as short
Reya BTCRUSDPERP	+0.0145%	1h	85,278.1	−0.001%	$6.6M	$141.1M	40x	as long as short
Kalshi KXBTCPERP	+0.0173%	8h	85,290	+0.013%	$11.9M	$737.5M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0149%	1h	85,281.5	+0.003%	$13.0M	—	200x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,285.7	+0.008%	$8.9M	$42.9M	25x	as long as short
Aftermath Perps BTCUSD	+0.0287%	1h	85,296.9	+0.021%	$81K	$249K	20x	as long as short
Hibachi BTC/USDT-P	+0.0304%	1h	85,308.7	+0.035%	$682K	$7.8M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,291.7	+0.015%	$465K	$18.4M	6.7x	as long as short