Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.011%

Price spread now: Arcus against Polymarket Perps−0.052%7-day average +0.042% · 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−$23as in the Price arb table

costs, in and out, $10k−$130.135% of the position

Long on Polymarket Perps Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.011%−$1 on $10k

Price spread, last 7 days+0.065%+$6 · spread now −0.052%, 7d avg +0.042%

Together, before fees+0.054%+$5 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: Arcus is 0.094% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BTC-USD	85,799	0.0100	pay 0.0013% / 1h	16m 13s	$11.1M	$14.1M	50x
Short	Arcus BTC-USD	85,754.5	0.0100	get 0.0013% / 1h	16m 13s	$6.8M	$97.5M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Polymarket Perps. 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 Polymarket PerpsbpFee ArcusbpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → +0.042%: −$9.43
Slippage, 4 orders: −$0.95
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$22.88
Costs to cover: 0.135%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Arcus: live order book, 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 Polymarket Perps live order book, 3 min ago	0.06 bp	4.1 bp −$4	5.5 bp −$55	8.0 bp −$802	doesn't fit
Sell Arcus live order book, 3 min ago	0.01 bp	2.9 bp −$3	3.8 bp −$38	5.6 bp −$558	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
Bluefin BTC-PERP	−0.0785%	1h	85,850.8	+0.060%	$197K	$722K	40x	as long as short
Phoenix BTC	−0.0160%	1h	85,789	−0.012%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,792	−0.008%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,782.7	−0.019%	$369K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0034%	8h	85,769.9	−0.034%	$418.4M	$665.5M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,797.8	−0.001%	$16.8M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,825.7	+0.031%	$36.7M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0005%	8h	85,799.2	0.000%	$918.9M	$751.3M	125x	as long as short
Nado BTC-PERP	+0.0010%	1h	85,787.6	−0.013%	$22.7M	$219.6M	50x	as long as short
Aster BTCUSDT	+0.0019%	8h	85,799.6	+0.001%	$517.0M	$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-USDC	+0.0056%	8h	85,800.1	+0.001%	—	$17.0M	—	as long as short
Bitget BTCUSDT	+0.0071%	8h	85,817.7	+0.022%	$2.96B	$5.01B	150x	as long as short
Reya BTCRUSDPERP	+0.0072%	1h	85,798.4	−0.001%	$6.7M	$146.5M	40x	as long as short
Phemex BTCUSDT	+0.0072%	8h	85,801.5	+0.003%	$148.8M	$479.8M	150x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,807	+0.009%	$341K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,803.8	+0.006%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,802.6	+0.004%	$5.05B	$5.64B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,806.1	+0.008%	$9.36B	$23.87B	150x	as long as short
HTX BTC-USDT	+0.0087%	8h	85,805.5	+0.008%	$2.27B	$935.8M	200x	as long as short
Lighter BTC	+0.0096%	1h	85,819.8	+0.024%	$170.3M	$995.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,822.5	+0.027%	$24.0M	$148.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,788	−0.013%	$8.4M	$52.2M	100x	as long as short
SoDEX BTC-USD	+0.0098%	1h	85,817	+0.021%	$60.1M	$336.1M	40x	as long as short
SunX BTC-USDT	+0.0098%	8h	85,769.7	−0.034%	$2.9M	$6.1M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,817.7	+0.022%	$3.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,754	−0.052%	$198K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,869	+0.082%	$3.75B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,811.9	+0.015%	$40.2M	$577.3M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,808.5	+0.011%	$5.34B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,807	+0.009%	$2.58B	$12.11B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,755	−0.051%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USDshort	+0.0100%	1h	85,754.5	−0.052%	$6.8M	$97.5M	40x
Gate BTC_USDT	+0.0100%	8h	85,818.8	+0.023%	$5.56B	$10.55B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,773.9	−0.029%	$35.2M	$173.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,772.2	−0.031%	$155.9M	$551.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,731	−0.079%	$280.0M	$921.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,760.8	−0.045%	$215.4M	$166.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,808.4	+0.011%	$140.4M	$314.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,760.8	−0.044%	$30.3M	$209.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,833	+0.040%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USDlong	+0.0100%	1h	85,799	long leg	$11.1M	$14.1M	50x
Bullet BTC-USD	+0.0100%	1h	85,814	+0.017%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,803.1	+0.005%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,810.6	+0.014%	$30.1M	$50.9M	15x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,681.9	−0.137%	$628.9M	$439.0M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,794.4	−0.005%	$44.2M	$226.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,787.3	−0.014%	—	$105.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,858.6	+0.069%	$129.4M	$5.10B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,812.6	+0.016%	$8.4M	$42.2M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,841.2	+0.049%	$189.0M	$951.7M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0169%	1h	85,858.8	+0.070%	$891.5M	$1.53B	50x	as long as short
Aftermath Perps BTCUSD	+0.0199%	1h	85,776.7	−0.026%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,800.6	+0.002%	$703K	$7.8M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0178%	1h	85,820.5	+0.025%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0218%	8h	85,821	+0.026%	$10.6M	$758.0M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,800.1	+0.001%	$509K	$19.3M	6.7x	as long as short