Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0071%/8h= +7.8% APRpaid last 24h +0.015%

Price spread now: Extended against KuCoin−0.011%7-day average −0.036% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$170.171% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 7 days−0.004%$0 · spread now −0.011%, 7d avg −0.036%

Together, before fees+0.097%+ Points / potential airdropExtended: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Extended is 0.024% dearer against KuCoin than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XBTUSDTM	85,744	0.0033	pay 0.0033% / 8h	6h 23m	$903.5M	$754.5M	125x
Short	Extended BTC-USD	85,734.3	0.0104	get 0.0013% / 1h	23m 49s	$44.1M	$228.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against KuCoin. 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 KuCoinbpFee ExtendedbpOrdersPrice spread, now −0.011%Rate

Funding earned: $14.91
Price spread: −0.011% → −0.036%: $2.43
Slippage, 4 orders: −$0.13
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $0.21
Costs to cover: 0.171%
Break-even: 6.9 days

Slippage from KuCoin: live order book, 10 min ago; Extended: 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 KuCoin live order book, 10 min ago	0.01 bp	6.0 bp −$6	6.7 bp −$67	8.2 bp −$824	doesn't fit
Sell Extended live order book, 5 min ago	0.06 bp	2.6 bp −$3	2.6 bp −$26	3.3 bp −$328	8.9 bp −$4,454

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	−0.0144%	1h	85,733	−0.013%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,777	+0.038%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,745.4	+0.002%	$365K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,805.5	+0.072%	$514K	$20.5M	6.7x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,800	+0.065%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,768.7	+0.029%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	−0.062%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTMlong	+0.0033%	8h	85,744	long leg	$903.5M	$754.5M	125x
Aster BTCUSDT	+0.0037%	8h	85,753.1	+0.011%	$516.6M	$1.14B	200x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,779.1	+0.041%	$8.2M	$42.0M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0055%	1h	85,792.9	+0.057%	$22.6M	$227.5M	50x	as long as short
BingX BTC-USDC	+0.0055%	8h	85,751	+0.008%	—	$17.1M	—	as long as short
Reya BTCRUSDPERP	+0.0058%	1h	85,751.1	+0.008%	$6.7M	$146.3M	40x	as long as short
Bitget BTCUSDT	+0.0070%	8h	85,756.9	+0.015%	$2.95B	$5.08B	150x	as long as short
ApeX Omni BTCUSDT	+0.0070%	1h	85,752.5	+0.010%	$140.2M	$319.5M	100x	as long as short
HTX BTC-USDT	+0.0075%	8h	85,734.1	−0.012%	$2.27B	$946.6M	200x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,746.3	+0.003%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0091%	8h	85,757.8	+0.016%	$5.07B	$5.73B	500x	as long as short
Binance BTCUSDT	+0.0092%	8h	85,760.5	+0.019%	$9.34B	$24.30B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,762.3	+0.021%	$170.4M	$990.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,769.6	+0.030%	$23.5M	$147.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,757	+0.015%	$8.4M	$51.9M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,732	−0.014%	$202K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,740.5	−0.004%	$3.8M	$8.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,816	+0.084%	$3.76B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,808	+0.075%	$40.3M	$571.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,771.9	+0.033%	$5.31B	$9.74B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,776.9	+0.038%	$2.54B	$12.36B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,764	+0.023%	$4.0M	$18.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,726.5	−0.020%	$7.3M	$98.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,744.8	+0.001%	$590.5M	$195.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,764.4	+0.024%	$5.61B	$10.55B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,745.8	+0.002%	$35.4M	$164.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,799.4	+0.065%	$156.6M	$556.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,740.4	−0.004%	$278.7M	$939.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,752.4	+0.010%	$215.2M	$166.3M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,779.6	+0.041%	$30.3M	$208.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,819.6	+0.088%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,752	+0.009%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,764	+0.023%	$187K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,754.9	+0.013%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,781.2	+0.043%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,760.3	+0.019%	$30.0M	$56.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,722	−0.026%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,756	+0.014%	$60.0M	$337.3M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,756.3	+0.014%	$154.2M	$480.4M	150x	as long as short
Extended BTC-USDshort	+0.0104%	1h	85,734.3	−0.011%	$44.1M	$228.1M	50x
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,768.4	+0.028%	—	$100.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,792	+0.056%	$131.1M	$5.15B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,815.6	+0.084%	$697K	$7.9M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,775.9	+0.037%	$188.5M	$962.9M	100x	as long as short
Aftermath Perps BTCUSD	+0.0164%	1h	85,750.4	+0.007%	$78K	$219K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0176%	1h	85,797.4	+0.062%	$894.7M	$1.53B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0190%	1h	85,766.1	+0.026%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,798	+0.063%	$10.1M	$769.9M	6.4x	as long as short