Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.027%

Price spread now: 01 Exchange against OKX−0.010%7-day average −0.005% · you buy dearer than you sell

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−$190.194% of the position

Long on OKX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.095%−$10 on $10k

Price spread, last 7 days+0.023%+$2 · spread now −0.010%, 7d avg −0.005%

Together, before fees−0.072%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.005%, so right now this pair is about funding alone: −$4 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	85,514.9	0.0100	pay 0.0100% / 8h	5h 38m	$2.56B	$12.10B	100x
Short	01 Exchange BTCUSD	85,506.3	−0.0048	pay 0.0006% / 1h	38m 04s	$369K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.010%Rate

Funding earned: −$31.08
Price spread: −0.010% → −0.005%: −$0.54
Slippage, 4 orders: −$2.37
Fee OKX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$50.98
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; 01 Exchange: live order book, 1 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 OKX live order book, 1 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.5 bp −$546	6.8 bp −$3,387
Sell 01 Exchange live order book, 1 min ago	0.01 bp	3.8 bp −$4	8.0 bp −$80	doesn't fit	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
Phoenix BTC	−0.0160%	1h	85,585	+0.082%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,554	+0.046%	$8K	$3K	50x	as long as short
01 Exchange BTCUSDshort	−0.0048%	1h	85,506.3	−0.010%	$369K	$2.3M	50x
BloFin BTC-USDT	−0.0033%	8h	85,520.2	+0.006%	$414.8M	$661.8M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,541.7	+0.031%	$16.7M	$20.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,518.1	+0.004%	$36.6M	—	200x	as long as short
Nado BTC-PERP	+0.0011%	1h	85,502.3	−0.015%	$22.7M	$221.3M	50x	as long as short
KuCoin XBTUSDTM	+0.0012%	8h	85,490.2	−0.029%	$917.1M	$752.9M	125x	as long as short
Aster BTCUSDT	+0.0019%	8h	85,501.1	−0.016%	$515.2M	$1.11B	200x	as long as short
Deribit BTC-PERPETUAL	+0.0054%	1h	85,543.4	+0.033%	$893.3M	$1.52B	50x	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	+0.0054%	8h	85,495	−0.023%	—	$1.54B	—	as long as short
HTX BTC-USDT	+0.0063%	8h	85,483.2	−0.037%	$2.26B	$932.5M	200x	as long as short
Reya BTCRUSDPERP	+0.0067%	1h	85,495.3	−0.023%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,518.3	+0.004%	$2.95B	$5.02B	150x	as long as short
Phemex BTCUSDT	+0.0076%	8h	85,485.8	−0.034%	$148.3M	$478.7M	150x	as long as short
SunX BTC-USDT	+0.0077%	8h	85,516.3	+0.002%	$2.9M	$6.1M	100x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,578	+0.074%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,497.3	−0.021%	$2.4M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,498	−0.020%	$5.05B	$5.61B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,504.1	−0.013%	$9.32B	$23.87B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,510.6	−0.005%	$169.6M	$987.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,498.9	−0.019%	$23.9M	$148.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,518	+0.004%	$8.4M	$51.9M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,579.8	+0.076%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,495	−0.023%	$203K	$7.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,560	+0.053%	$3.77B	$4.94B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,574.1	+0.069%	$40.5M	$573.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,514.9	0.000%	$5.33B	$9.58B	150x	as long as short
OKX BTC-USDT-SWAPlong	+0.0100%	8h	85,514.9	long leg	$2.56B	$12.10B	100x
Ondo Perps BTC-USD.P	+0.0100%	1h	85,539	+0.028%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,490.8	−0.028%	$7.2M	$97.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,562.7	+0.056%	$616.1M	$358.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,500.1	−0.017%	$5.54B	$10.47B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,478.8	−0.042%	$35.2M	$172.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,503.7	−0.013%	$154.4M	$549.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,550.1	+0.041%	$278.9M	$928.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,591.1	+0.089%	$214.8M	$164.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,603.5	+0.104%	$140.0M	$316.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,595.1	+0.094%	$30.3M	$210.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,572.6	+0.067%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,499	−0.019%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,517	+0.002%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,501.5	−0.016%	$2.3M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	84,662.5	−0.997%	$194K	$721K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,505.3	−0.011%	$29.9M	$52.6M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,504	−0.013%	$59.9M	$336.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,495	−0.023%	$44.1M	$227.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,541.7	+0.031%	—	$106.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,530.2	+0.018%	$130.3M	$5.08B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,555.5	+0.047%	$8.3M	$42.2M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0139%	1h	85,513.7	−0.001%	$188.4M	$948.3M	100x	as long as short
Aftermath Perps BTCUSD	+0.0196%	1h	85,566.9	+0.061%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,573.8	+0.069%	$699K	$7.9M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0180%	1h	85,518.5	+0.004%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0213%	8h	85,558	+0.050%	$10.5M	$759.9M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,557.8	+0.050%	$522K	$19.4M	6.7x	as long as short