Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.012%

Price spread now: gTrade (Gains Network) against KuCoin0.000%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

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

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.040%−$4 on $10k

Price spread, last 7 days+0.013%+$1 · spread now 0.000%, 7d avg −0.004%

Together, before fees−0.027%−$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XBTUSDTM	85,763.3	0.0004	pay 0.0004% / 8h	5h 11m	$919.8M	$751.4M	125x
Short	gTrade (Gains Network) BTC/USD	85,763.3	L +0.0004% / S −0.0004%	get 0.0001% / 1h	11m 34s	$36.7M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now 0.000%Rate

Funding earned: $0.06
Price spread: 0.000% → −0.004%: $0.42
Slippage, 4 orders: −$1.05
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$19.57
Costs to cover: 0.200%
Break-even: 2286.9 days

Slippage from KuCoin: live order book, 8 min ago; gTrade (Gains Network): virtual book (oracle venue), 3 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, 8 min ago	0.01 bp	6.0 bp −$6	6.5 bp −$65	7.5 bp −$749	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 3 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,183

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	−0.0649%	1h	85,782.9	+0.023%	$196K	$721K	40x	as long as short
Phoenix BTC	−0.0160%	1h	85,753	−0.012%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,786	+0.027%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,806.8	+0.051%	$369K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0032%	8h	85,743.9	−0.023%	$417.6M	$665.4M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,797.2	+0.040%	$16.8M	$21.2M	50x	as long as short
KuCoin XBTUSDTMlong	+0.0004%	8h	85,763.3	long leg	$919.8M	$751.4M	125x
gTrade (Gains Network) BTC/USDshort	L +0.0004% / S −0.0004%	1h	85,763.3	0.000%	$36.7M	—	200x
Nado BTC-PERP	+0.0012%	1h	85,759.3	−0.005%	$22.6M	$219.5M	50x	as long as short
Aster BTCUSDT	+0.0019%	8h	85,794.7	+0.037%	$516.8M	$1.10B	200x	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	+0.0057%	8h	85,798.9	+0.042%	—	$1.53B	—	as long as short
Bitget BTCUSDT	+0.0072%	8h	85,798.6	+0.041%	$2.96B	$5.01B	150x	as long as short
Reya BTCRUSDPERP	+0.0072%	1h	85,745.7	−0.020%	$6.7M	$146.5M	40x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,807	+0.051%	$341K	$26.9M	52x	as long as short
Phemex BTCUSDT	+0.0080%	8h	85,735.3	−0.033%	$148.9M	$480.0M	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,739.2	−0.028%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0087%	8h	85,788.9	+0.030%	$5.08B	$5.65B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,803.3	+0.047%	$9.36B	$23.87B	150x	as long as short
HTX BTC-USDT	+0.0090%	8h	85,743.7	−0.023%	$2.27B	$935.9M	200x	as long as short
SoDEX BTC-USD	+0.0093%	1h	85,744	−0.022%	$60.0M	$336.2M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,795.1	+0.037%	$175.0M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,779.3	+0.019%	$23.9M	$149.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,803	+0.046%	$8.4M	$52.2M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,819.3	+0.065%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,779	+0.018%	$198K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,842	+0.092%	$3.75B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,819.9	+0.066%	$40.2M	$577.3M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,809.4	+0.054%	$5.34B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,817.9	+0.064%	$2.58B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,774	+0.013%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,783.5	+0.024%	$6.8M	$97.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,800.8	+0.044%	$635.6M	$478.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,818.7	+0.065%	$5.56B	$10.56B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,740.3	−0.027%	$35.3M	$172.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,806.6	+0.051%	$157.6M	$550.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,749.7	−0.016%	$280.1M	$916.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,776.3	+0.015%	$215.4M	$165.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,774.1	+0.013%	$140.3M	$314.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,766.5	+0.004%	$30.3M	$209.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,806.6	+0.050%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,753	−0.012%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,757	−0.007%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,739.4	−0.028%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,740.7	−0.026%	$30.0M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,735.2	−0.033%	$2.9M	$6.1M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	85,768.5	+0.006%	$44.2M	$226.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,758.7	−0.005%	—	$105.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,777.9	+0.017%	$126.5M	$5.10B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,833.1	+0.081%	$8.4M	$42.2M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0126%	1h	85,785.1	+0.025%	$891.6M	$1.53B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,766.7	+0.004%	$189.3M	$952.5M	100x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	85,792	+0.033%	$704K	$7.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0201%	1h	85,784.9	+0.025%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0178%	1h	85,760.6	−0.003%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0219%	8h	85,783	+0.023%	$10.6M	$758.1M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,786	+0.027%	$506K	$19.2M	6.7x	as long as short