Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.017%

Price spread now: KuCoin against Polymarket Perps−0.008%7-day average +0.009% · 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−$23as in the Price arb table

costs, in and out, $10k−$210.212% of the position

Long on Polymarket Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 7 days+0.011%+$1 · spread now −0.008%, 7d avg +0.009%

Together, before fees−0.092%−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BTC-USD	85,613	0.0100	pay 0.0013% / 1h	36m 20s	$11.0M	$14.1M	50x
Short	KuCoin XBTUSDTM	85,606.2	0.0012	get 0.0012% / 8h	5h 36m	$918.0M	$752.8M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$18.48
Price spread: −0.008% → +0.009%: −$1.72
Slippage, 4 orders: −$1.24
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$41.44
Costs to cover: 0.212%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; KuCoin: 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	0.58 bp	4.6 bp −$5	5.4 bp −$54	8.0 bp −$797	doesn't fit
Sell KuCoin live order book, 3 min ago	0.01 bp	6.0 bp −$6	7.3 bp −$73	9.4 bp −$939	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	−0.033%	$2.2M	$10.3M	40x	as long as short
Bluefin BTC-PERP	−0.0097%	1h	85,672.1	+0.069%	$196K	$722K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,589	−0.028%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,615.6	+0.003%	$370K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0034%	8h	85,617.3	+0.005%	$415.9M	$663.5M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,640.3	+0.032%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,641.9	+0.034%	$36.7M	—	200x	as long as short
Nado BTC-PERP	+0.0009%	1h	85,615	+0.002%	$22.9M	$221.3M	50x	as long as short
KuCoin XBTUSDTMshort	+0.0012%	8h	85,606.2	−0.008%	$918.0M	$752.8M	125x
Aster BTCUSDT	+0.0016%	8h	85,617.4	+0.005%	$515.9M	$1.11B	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	+0.0054%	8h	85,620.5	+0.009%	—	$17.0M	—	as long as short
HTX BTC-USDT	+0.0062%	8h	85,585.5	−0.032%	$2.27B	$933.0M	200x	as long as short
Reya BTCRUSDPERP	+0.0067%	1h	85,598.7	−0.017%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,604.2	−0.010%	$2.95B	$5.02B	150x	as long as short
SunX BTC-USDT	+0.0077%	8h	85,546.6	−0.078%	$2.9M	$6.1M	100x	as long as short
Phemex BTCUSDT	+0.0077%	8h	85,595.8	−0.020%	$148.4M	$478.8M	150x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,578	−0.041%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,576.1	−0.043%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0085%	8h	85,617.6	+0.005%	$5.05B	$5.61B	500x	as long as short
Binance BTCUSDT	+0.0085%	8h	85,629.2	+0.019%	$9.35B	$23.90B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,650.2	+0.043%	$169.9M	$988.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,640	+0.032%	$23.9M	$148.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,615	+0.002%	$8.4M	$51.9M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,686.7	+0.086%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,588	−0.029%	$197K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,669	+0.065%	$3.77B	$4.94B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,671.2	+0.068%	$40.5M	$573.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,638.8	+0.030%	$5.33B	$9.58B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,635.2	+0.026%	$2.57B	$12.11B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,652	+0.046%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,597.6	−0.018%	$7.2M	$97.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,562.7	−0.059%	$616.1M	$358.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,636.2	+0.027%	$5.55B	$10.47B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,601.4	−0.014%	$35.2M	$171.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,503.7	−0.128%	$154.4M	$549.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,550.1	−0.074%	$278.9M	$928.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,558.4	−0.064%	$214.7M	$165.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,549.6	−0.074%	$140.0M	$316.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,552.7	−0.070%	$30.3M	$210.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,650.3	+0.044%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USDlong	+0.0100%	1h	85,613	long leg	$11.0M	$14.1M	50x
Bullet BTC-USD	+0.0100%	1h	85,621	+0.009%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,627.3	+0.017%	$2.3M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,580.4	−0.038%	$30.0M	$52.6M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,583	−0.035%	$59.9M	$336.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,610.6	−0.003%	$44.0M	$227.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,617.6	+0.005%	—	$105.9M	500x	as long as short
Deribit BTC-PERPETUAL	+0.0107%	1h	85,623.1	+0.012%	$893.2M	$1.52B	50x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,618.9	+0.007%	$130.5M	$5.09B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,642.1	+0.034%	$8.3M	$42.2M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,609.8	−0.004%	$188.6M	$948.4M	100x	as long as short
Aftermath Perps BTCUSD	+0.0190%	1h	85,588.2	−0.029%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,605.5	−0.009%	$700K	$7.9M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0180%	1h	85,633.3	+0.024%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0213%	8h	85,576	−0.043%	$10.5M	$760.0M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,666.2	+0.062%	$521K	$19.4M	6.7x	as long as short