Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.037%

Price spread now: Gate against Hotstuff−0.022%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Gate is 0.022% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 10 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BTC-PERP	85,722	−0.0080	get 0.0010% / 1h	54m 42s	$8K	$3K	50x
Short	Gate BTC_USDT	85,702.8	0.0100	get 0.0100% / 8h	4h 54m	$5.55B	$10.53B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hotstuff. 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 HotstuffbpFee GatebpOrdersPrice spread, now −0.022%Rate

Funding earned: $37.8
Price spread: −0.022% → 0.000%: −$2.24
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $15.56
Costs to cover: 0.200%
Break-even: 4.1 days

Slippage unknown: Hotstuff: no order-book sample; Gate: live order book, 4 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Gate live order book, 4 min ago	0.01 bp	7.5 bp −$8	7.5 bp −$75	8.4 bp −$844	10.4 bp −$5,189

Hotstuff: 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	−0.4407%	1h	85,725.1	+0.004%	$194K	$725K	40x	as long as short
Phoenix BTC	−0.0160%	1h	85,659	−0.073%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERPlong	−0.0080%	1h	85,722	long leg	$8K	$3K	50x
01 Exchange BTCUSD	−0.0048%	1h	85,680.9	−0.048%	$370K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0032%	8h	85,685.9	−0.042%	$417.6M	$666.0M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,713.4	−0.010%	$16.7M	$21.2M	50x	as long as short
KuCoin XBTUSDTM	0.0000%	8h	85,689.3	−0.038%	$920.5M	$750.0M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,696.3	−0.030%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0016%	8h	85,680.3	−0.049%	$516.3M	$1.10B	200x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,666.6	−0.065%	$6.9M	$97.7M	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	+0.0041%	1h	85,687.9	−0.040%	$22.6M	$218.8M	50x	as long as short
BingX BTC-USDC	+0.0058%	8h	85,685	−0.043%	—	$17.1M	—	as long as short
ApeX Omni BTCUSDT	+0.0059%	1h	85,584.6	−0.160%	$139.9M	$315.1M	100x	as long as short
Bitget BTCUSDT	+0.0073%	8h	85,700.9	−0.025%	$2.96B	$5.01B	150x	as long as short
Reya BTCRUSDPERP	+0.0076%	1h	85,675.3	−0.054%	$6.7M	$146.6M	40x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,692.2	−0.035%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0087%	8h	85,678.7	−0.051%	$5.05B	$5.57B	500x	as long as short
Binance BTCUSDT	+0.0089%	8h	85,693.5	−0.033%	$9.35B	$23.95B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,706.8	−0.018%	$174.4M	$999.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,712.8	−0.011%	$23.9M	$147.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,676	−0.054%	$8.4M	$52.5M	100x	as long as short
HTX BTC-USDT	+0.0098%	8h	85,677.1	−0.052%	$2.27B	$938.2M	200x	as long as short
SoDEX BTC-USD	+0.0099%	1h	85,687	−0.041%	$60.0M	$336.1M	40x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,726.2	+0.005%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,655	−0.078%	$198K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,777	+0.064%	$3.75B	$4.96B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,722.3	0.000%	$40.1M	$576.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,683	−0.046%	$5.33B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,681.6	−0.047%	$2.58B	$12.10B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,668	−0.063%	$3.9M	$18.0M	25x	as long as short
Gate BTC_USDTshort	+0.0100%	8h	85,702.8	−0.022%	$5.55B	$10.53B	200x
Backpack BTC_USDC_PERP	+0.0100%	1h	85,687	−0.041%	$36.0M	$175.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,690.1	−0.037%	$156.8M	$560.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,589.3	−0.155%	$279.5M	$917.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,627.1	−0.111%	$215.0M	$164.8M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,694	−0.033%	$30.3M	$207.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,722.4	+0.001%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,674	−0.056%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,681.1	−0.048%	$195K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,688.5	−0.039%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,690.2	−0.037%	$30.0M	$51.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,687.4	−0.040%	$2.9M	$6.1M	100x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,699.1	−0.027%	$150.6M	$482.8M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,642.1	−0.093%	$641.7M	$524.8M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,682.5	−0.046%	$44.5M	$226.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,691.5	−0.036%	—	$106.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,730	+0.009%	$118.0M	$5.14B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,742	+0.023%	$340K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,706.9	−0.018%	$189.2M	$952.1M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0177% / S −0.0151%	1h	85,691.2	−0.036%	$13.4M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0177%	1h	85,734.2	+0.014%	$892.0M	$1.53B	50x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	85,741.7	+0.023%	$703K	$7.8M	30x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,713.3	−0.010%	$8.4M	$42.4M	25x	as long as short
Aftermath Perps BTCUSD	+0.0201%	1h	85,709.9	−0.014%	$78K	$219K	20x	as long as short
Kalshi KXBTCPERP	+0.0219%	8h	85,719	−0.003%	$10.6M	$759.1M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,680.2	−0.049%	$493K	$19.0M	6.7x	as long as short