Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.021%

Price spread now: edgeX against HTX−0.080%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$210.210% of the position

Long on HTX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.163%−$16 on $10k

Price spread, last 3 days (all we have)+0.098%+$10 · spread now −0.080%, 7d avg −0.007%

Together, before fees−0.065%+ Points / potential airdropedgeX: Active · farm board−$6 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: edgeX is 0.073% cheaper against HTX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BTC-USDT	86,511.5	0.0100	pay 0.0100% / 8h	7m 40s	$2.30B	$968.2M	200x
Short	edgeX BTCUSDC	86,442.3	0.0100	get 0.0050% / 4h	7m 40s	$279.2M	$947.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against HTX. 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 HTXbpFee edgeXbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.007%: −$7.27
Slippage, 4 orders: −$0.05
Fee HTX: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$28.32
Costs to cover: 0.210%
Break-even: never at this rate

Slippage from HTX: live order book, 2 min ago; edgeX: live order book, 2 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 HTX live order book, 2 min ago	0.01 bp	6.0 bp −$6	6.1 bp −$61	7.4 bp −$743	10.1 bp −$5,069
Sell edgeX live order book, 2 min ago	0.02 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$471	5.7 bp −$2,827

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
Phoenix BTC	−0.0118%	1h	86,444	−0.078%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,516	+0.005%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,345	−0.192%	$332K	$26.9M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,495.7	−0.018%	$8.3M	$42.7M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,502.7	−0.010%	$360K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,492.8	−0.022%	$412K	$22.4M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,540.1	+0.033%	$36.8M	—	200x	as long as short
Aster BTCUSDT	+0.0010%	8h	86,515.1	+0.004%	$501.8M	$1.15B	200x	as long as short
KuCoin XBTUSDTM	+0.0022%	8h	86,512.7	+0.001%	$834.6M	$728.2M	125x	as long as short
Reya BTCRUSDPERP	+0.0036%	1h	86,502.4	−0.011%	$6.7M	$145.5M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0044%	8h	86,513.1	+0.002%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0055%	8h	86,528.3	+0.019%	$151.2M	$478.6M	150x	as long as short
Bitget BTCUSDT	+0.0055%	8h	86,504.6	−0.008%	$2.97B	$5.13B	150x	as long as short
dYdX BTC-USD	+0.0063%	1h	86,506.6	−0.006%	$16.9M	$21.2M	50x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,511.6	0.000%	$2.5M	$1.4M	20x	as long as short
MEXC BTC_USDT	+0.0074%	8h	86,512.6	+0.001%	$5.16B	$5.69B	500x	as long as short
Binance BTCUSDT	+0.0074%	8h	86,503.4	−0.009%	$9.44B	$24.53B	150x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,510.9	−0.001%	$5.85B	$10.81B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,526	+0.017%	$170.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,533.7	+0.026%	$23.9M	$152.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,487	−0.028%	$8.5M	$52.3M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,521.3	+0.011%	$5.27B	$9.79B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,475	−0.042%	$196K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,547.9	+0.042%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,475.2	−0.042%	$21.8M	$233.9M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,595.1	+0.097%	$3.80B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,546.2	+0.040%	$41.1M	$538.1M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,524.8	+0.015%	$2.55B	$12.74B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,540	+0.033%	$3.9M	$18.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,545.7	+0.040%	$7.3M	$96.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,526.9	+0.018%	$38.0M	$155.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,407.7	−0.120%	$157.0M	$567.1M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	86,442.3	−0.080%	$279.2M	$947.3M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,461.1	−0.058%	$217.1M	$172.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,464.5	−0.054%	$141.5M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,448	−0.073%	$30.7M	$206.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,528.1	+0.019%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,499	−0.014%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,510	−0.002%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,521.2	+0.011%	$2.5M	$9.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,556.9	+0.052%	$141K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,554.5	+0.050%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,497.7	−0.016%	$3.4M	$5.3M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,523	+0.013%	$60.5M	$338.1M	40x	as long as short
HTX BTC-USDTlong	+0.0100%	8h	86,511.5	long leg	$2.30B	$968.2M	200x
Bulk BTC-USD	+0.0100%	1h	86,452.9	−0.068%	$572.2M	$12.3M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,492.6	−0.022%	$45.8M	$225.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,494.7	−0.019%	—	$100.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,556	+0.051%	$193.1M	$953.1M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,569.7	+0.067%	$132.3M	$5.64B	50x	as long as short
Aftermath Perps BTCUSD	+0.0160%	1h	86,482.6	−0.033%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,501.5	−0.012%	$717K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0194%	8h	86,461.9	−0.057%	$415.2M	$658.5M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0199% / S −0.0224%	1h	86,524.7	+0.015%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0207%	8h	86,518	+0.008%	$10.1M	$752.3M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0440%	1h	86,592.5	+0.094%	$913.7M	$1.49B	50x	as long as short