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 −0.009%

Price spread now: Gate against HTX−0.027%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$270.273% of the position

Long on HTX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 4 days (all we have)+0.068%+$7 · spread now −0.027%, 7d avg +0.012%

Together, before fees+0.044%+$4 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: Gate is 0.038% cheaper against HTX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BTC-USDT	85,432.3	0.0100	pay 0.0100% / 8h	1h 08m	$2.26B	$962.7M	200x
Short	Gate BTC_USDT	85,409.4	0.0100	get 0.0100% / 8h	1h 08m	$5.56B	$11.08B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.027%Rate

Funding earned: $0
Price spread: −0.027% → +0.012%: −$3.84
Slippage, 4 orders: −$0.26
Fee HTX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$31.1
Costs to cover: 0.273%
Break-even: never at this rate

Slippage from HTX: live order book, 6 min ago; Gate: 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 HTX live order book, 6 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.1 bp −$614	8.6 bp −$4,324
Sell Gate live order book, 5 min ago	0.01 bp	7.5 bp −$8	7.5 bp −$75	8.3 bp −$829	10.2 bp −$5,120

BTC on 55 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	−0.0082%	1h	85,478	+0.053%	$2.3M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,417	−0.018%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0035%	8h	85,419.5	−0.015%	$929.2M	$772.7M	125x	as long as short
BloFin BTC-USDT	−0.0022%	8h	85,430.5	−0.002%	$420.9M	$679.8M	150x	as long as short
Aster BTCUSDT	−0.0004%	8h	85,395.9	−0.043%	$512.6M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,450.9	+0.022%	$353K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,443.6	+0.013%	$490K	$18.3M	6.7x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,430.8	−0.002%	$16.7M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,434	+0.002%	$36.5M	—	200x	as long as short
Nado BTC-PERP	+0.0045%	1h	85,420	−0.014%	$24.1M	$220.0M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0057%	1h	85,247	−0.217%	$338K	$26.8M	52x	as long as short
BingX BTC-USDC	+0.0073%	8h	85,383.4	−0.057%	—	$17.3M	—	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,451.6	+0.023%	$186.2M	$952.3M	100x	as long as short
Bitget BTCUSDT	+0.0092%	8h	85,403.2	−0.034%	$2.97B	$5.15B	150x	as long as short
Bybit BTCUSDT	+0.0094%	8h	85,398.9	−0.039%	$5.14B	$9.97B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,419.7	−0.015%	$169.7M	$1.03B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,420.2	−0.014%	$23.6M	$148.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,450	+0.021%	$8.5M	$57.0M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,454.6	+0.026%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0097%	8h	85,402.7	−0.035%	$5.04B	$5.78B	500x	as long as short
Binance BTCUSDT	+0.0097%	8h	85,401.6	−0.036%	$9.42B	$24.86B	150x	as long as short
SoDEX BTC-USD	+0.0099%	1h	85,438	+0.007%	$59.8M	$336.7M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,393	−0.046%	$245K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,465.9	+0.039%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,491	+0.069%	$3.75B	$5.05B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,439.2	+0.008%	$40.4M	$603.0M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,402.4	−0.035%	$2.60B	$12.18B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,389	−0.051%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,405	−0.032%	$5.1M	$96.5M	40x	as long as short
Gate BTC_USDTshort	+0.0100%	8h	85,409.4	−0.027%	$5.56B	$11.08B	200x
Backpack BTC_USDC_PERP	+0.0100%	1h	85,425.7	−0.008%	$37.5M	$180.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,384.3	−0.056%	$156.3M	$556.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,427.5	−0.006%	$279.9M	$952.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,402.7	−0.035%	$214.4M	$163.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,408.7	−0.028%	$139.6M	$313.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,436	+0.004%	$30.1M	$207.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,483.6	+0.060%	—	$10.2M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,442	+0.011%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,444.4	+0.014%	$199K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,436.3	+0.005%	$2.6M	$9.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,481.5	+0.058%	$194K	$795K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,419.8	−0.015%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDTlong	+0.0100%	8h	85,432.3	long leg	$2.26B	$962.7M	200x
Phemex BTCUSDT	+0.0100%	8h	85,440.9	+0.010%	$156.0M	$512.3M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,413.1	−0.022%	$689.0M	$342.5M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0103%	1h	85,481.4	+0.057%	$854.4M	$1.64B	50x	as long as short
Extended BTC-USD	+0.0104%	1h	85,377.7	−0.064%	$45.2M	$240.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,434.4	+0.002%	—	$104.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,471.1	+0.045%	$112.9M	$5.48B	50x	as long as short
Reya BTCRUSDPERP	+0.0133%	1h	85,428.9	−0.004%	$6.6M	$147.7M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0150%	1h	85,433.2	+0.001%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0177%	8h	85,454	+0.025%	$11.8M	$739.4M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,432.3	0.000%	$8.8M	$42.6M	25x	as long as short
Hibachi BTC/USDT-P	+0.0216%	1h	85,453.3	+0.025%	$685K	$7.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0264%	1h	85,468.2	+0.042%	$79K	$241K	20x	as long as short