Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0022%/8h= −2.5% APRpaid last 24h 0.000%

Price spread now: Aevo against OKX−0.026%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on OKX Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 3 days (all we have)−0.025%−$2 · spread now −0.026%, 7d avg −0.018%

Together, before fees−0.028%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BTC-USDT-SWAP	86,643.5	0.0070	pay 0.0070% / 8h	2h 33m	$2.56B	$12.70B	100x
Short	Aevo BTC-PERP	86,621.3	0.0048	get 0.0006% / 1h	33m 40s	$2.4M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against OKX. 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 OKXbpFee AevobpOrdersPrice spread, now −0.026%Rate

Funding earned: −$4.71
Price spread: −0.026% → −0.018%: −$0.76
Slippage, 4 orders: −$4.98
Fee OKX: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$36.45
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; Aevo: live order book, just now.

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 OKX live order book, 6 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.1 bp −$608	7.9 bp −$3,952
Sell Aevo live order book, just now	1.62 bp	11.0 bp −$11	13.0 bp −$130	16.6 bp −$1,665	doesn't fit

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
Aftermath Perps BTCUSD	−0.0229%	1h	86,609.7	−0.039%	$85K	$188K	20x	as long as short
Perpl BTC	−0.0223%	43m	86,658.9	+0.018%	$428K	$24.9M	6.7x	as long as short
Phoenix BTC	−0.0103%	1h	86,539	−0.121%	$2.2M	$12.4M	40x	as long as short
dYdX BTC-USD	−0.0083%	1h	86,671.7	+0.033%	$17.6M	$20.5M	50x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,648	+0.005%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,659.3	+0.018%	$361K	$2.4M	50x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,643.9	0.000%	$935.7M	$1.43B	50x	as long as short
KuCoin XBTUSDTM	+0.0001%	8h	86,623.7	−0.023%	$845.4M	$704.7M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,634.2	−0.011%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0009%	8h	86,619.1	−0.028%	$505.7M	$1.16B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0021%	1h	86,609.7	−0.039%	$6.7M	$144.3M	40x	as long as short
BingX BTC-USDC	+0.0022%	8h	86,619.5	−0.028%	—	$15.3M	—	as long as short
Phemex BTCUSDT	+0.0023%	8h	86,610.1	−0.039%	$149.5M	$471.2M	150x	as long as short
Bitget BTCUSDT	+0.0029%	8h	86,629.4	−0.016%	$2.95B	$5.07B	150x	as long as short
Aevo BTC-PERPshort	+0.0048%	1h	86,621.3	−0.026%	$2.4M	$1.3M	20x
Injective BTC/USDC PERP	+0.0049%	1h	86,732	+0.102%	$315K	$26.8M	52x	as long as short
MEXC BTC_USDT	+0.0052%	8h	86,628.5	−0.017%	$5.19B	$5.67B	500x	as long as short
Binance BTCUSDT	+0.0053%	8h	86,628.8	−0.017%	$9.44B	$24.31B	150x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,656.8	+0.015%	$9.2M	$42.0M	25x	as long as short
OKX BTC-USDT-SWAPlong	+0.0070%	8h	86,643.5	long leg	$2.56B	$12.70B	100x
Gate BTC_USDT	+0.0073%	8h	86,629.5	−0.016%	$5.86B	$10.63B	200x	as long as short
Bybit BTCUSDT	+0.0082%	8h	86,634.9	−0.010%	$5.28B	$9.67B	150x	as long as short
Variational Omni BTC	+0.0092%	8h	86,584.3	−0.068%	$160.0M	$567.1M	—	as long as short
Lighter BTC	+0.0096%	1h	86,643.1	0.000%	$172.1M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,648.1	+0.005%	$24.0M	$153.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,639	−0.005%	$8.5M	$52.1M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,635	−0.010%	$195K	$6.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,680.4	+0.043%	$4.8M	$8.2M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,644.7	+0.001%	$21.6M	$235.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,702	+0.068%	$3.82B	$5.12B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,661	+0.020%	$41.3M	$490.3M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,654	+0.012%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,716.2	+0.084%	$7.5M	$93.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,606.9	−0.042%	$571.9M	$22.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,613.2	−0.035%	$38.1M	$148.4M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,571.5	−0.083%	$279.6M	$949.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,662	+0.021%	$217.6M	$187.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,686.6	+0.050%	$141.7M	$322.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,593.6	−0.058%	$30.8M	$205.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,681.5	+0.044%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,629	−0.017%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,615.5	−0.032%	$194K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,630.6	−0.015%	$2.5M	$8.5M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,634.8	−0.010%	$141K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,618.4	−0.029%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,653.2	+0.011%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,610	−0.039%	$60.5M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,657.7	+0.016%	$2.30B	$957.2M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,620.1	−0.027%	$46.4M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,668	+0.028%	—	$98.4M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0117%	1h	86,644.4	+0.001%	$189.2M	$930.5M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,656	+0.014%	$132.0M	$5.86B	50x	as long as short
Kalshi KXBTCPERP	+0.0123%	8h	86,669	+0.029%	$9.0M	$723.4M	6.4x	as long as short
BloFin BTC-USDT	+0.0172%	8h	86,606.7	−0.042%	$416.8M	$650.6M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0178% / S −0.0185%	1h	86,630	−0.016%	$14.9M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	86,617.4	−0.030%	$614K	$7.1M	30x	as long as short