Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.010%

Price spread now: edgeX against Polymarket Perps+0.066%64s7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.186% of the position

Long on Polymarket Perps Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.241%−$24 on $10k

Price spread, last 7 days−0.077%−$8 · spread now +0.066%, 7d avg −0.029%

Together, before fees−0.318%+ Points / potential airdropedgeX: Active · farm board−$32 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: edgeX is 0.094% dearer against Polymarket Perps than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.029%. The two prices were read 64 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BTC-USD	85,250	0.0100	pay 0.0013% / 1h	38m 20s	$11.0M	$14.4M	50x
Short	edgeX BTCUSDC	85,305.9	0.0100	get 0.0050% / 4h	2h 38m	$279.2M	$939.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.066%Rate

Funding earned: $0
Price spread: +0.066% → −0.029%: $9.43
Slippage, 4 orders: −$1.58
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$9.16
Costs to cover: 0.186%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 6 min ago; edgeX: 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 Polymarket Perps live order book, 6 min ago	0.06 bp	5.5 bp −$5	6.5 bp −$65	8.5 bp −$852	doesn't fit
Sell edgeX live order book, 1 min ago	0.02 bp	4.5 bp −$5	4.7 bp −$47	5.0 bp −$501	6.3 bp −$3,173

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
Perpl BTC	−0.0112%	43m	85,242.9	−0.008%	$527K	$18.7M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,200	−0.059%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,203	−0.055%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0054%	8h	85,236.8	−0.015%	$922.1M	$762.9M	125x	as long as short
BloFin BTC-USDT	−0.0036%	8h	85,202.1	−0.056%	$420.1M	$679.3M	150x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	85,242.7	−0.009%	$383K	$2.3M	50x	as long as short
Aster BTCUSDT	−0.0015%	8h	85,226.1	−0.028%	$512.5M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,238.9	−0.013%	$16.7M	$21.7M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,244.4	−0.007%	$36.4M	—	200x	as long as short
Nado BTC-PERP	+0.0014%	1h	85,223.6	−0.031%	$24.5M	$222.8M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0023%	1h	85,225	−0.029%	$338K	$26.8M	52x	as long as short
SoDEX BTC-USD	+0.0051%	1h	85,240	−0.012%	$59.7M	$335.9M	40x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,264.5	+0.017%	$187.1M	$957.0M	100x	as long as short
Bullet BTC-USD	+0.0060%	1h	85,226	−0.028%	$204K	$3.3M	20x	as long as short
BingX BTC-USDC	+0.0066%	8h	85,211.2	−0.046%	—	$17.3M	—	as long as short
Phemex BTCUSDT	+0.0073%	8h	85,238.9	−0.013%	$149.1M	$503.2M	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,233	−0.020%	$2.4M	$6.7M	20x	as long as short
Bitget BTCUSDT	+0.0083%	8h	85,244.3	−0.007%	$2.95B	$5.17B	150x	as long as short
MEXC BTC_USDT	+0.0084%	8h	85,232.2	−0.021%	$5.06B	$5.69B	500x	as long as short
Binance BTCUSDT	+0.0084%	8h	85,242.2	−0.009%	$9.42B	$24.82B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,249.1	−0.001%	$171.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,250.5	+0.001%	$23.7M	$147.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,237	−0.015%	$8.3M	$55.6M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,283.6	+0.039%	$117.4M	$5.33B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,212	−0.045%	$237K	$8.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,286	+0.042%	$5.6M	$9.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,321	+0.083%	$3.75B	$5.05B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,267.6	+0.021%	$40.1M	$595.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,236.9	−0.015%	$5.15B	$9.93B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,243.5	−0.008%	$2.57B	$12.18B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,228	−0.026%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,241.1	−0.010%	$4.6M	$99.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,324.1	+0.087%	$679.5M	$626.7M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,231.9	−0.021%	$5.51B	$10.87B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,207.1	−0.050%	$36.0M	$174.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,226.6	−0.027%	$154.6M	$565.9M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	85,305.9	+0.066%	$279.2M	$939.3M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,273.7	+0.028%	$214.3M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,282.7	+0.038%	$139.4M	$315.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,190	−0.070%	$30.1M	$206.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,306.4	+0.066%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USDlong	+0.0100%	1h	85,250	long leg	$11.0M	$14.4M	50x
Orderly PERP_BTC_USDC	+0.0100%	8h	85,230.3	−0.023%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,275.6	+0.030%	$217K	$750K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,219.2	−0.036%	$30.0M	$50.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,231.4	−0.022%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,222.9	−0.032%	$2.26B	$954.0M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,218.6	−0.037%	$45.5M	$237.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,254.4	+0.005%	—	$107.0M	500x	as long as short
Reya BTCRUSDPERP	+0.0112%	1h	85,249.2	−0.001%	$6.6M	$147.4M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0145%	1h	85,286.9	+0.043%	$872.4M	$1.61B	50x	as long as short
Kalshi KXBTCPERP	+0.0174%	8h	85,273	+0.027%	$11.3M	$748.9M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,241.7	−0.010%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	85,238.2	−0.014%	$716K	$8.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0226%	1h	85,305.4	+0.065%	$78K	$225K	20x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,267.6	+0.021%	$8.7M	$43.1M	25x	as long as short