Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0048%/8h= +5.2% APRpaid last 24h −0.015%

Price spread now: edgeX against RISEx−0.004%55s7-day average −0.047% · 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—prices read too far apart to compare

costs, in and out, $10k−$170.168% of the position

Long on RISEx Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.140%−$14 on $10k

Price spread, last 7 days−0.041%−$4 · spread now −0.004%, 7d avg −0.047%

Together, before fees−0.181%+ Points / potential airdropedgeX: Active · farm board−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and edgeX is 0.043% dearer against RISEx than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.047%. Mind the row above: over the last 3 days funding on this pair cost −0.140%, so the current rate has only just turned in your favour. The two prices were read 55 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	RISEx BTC/USDC	86,365.9	0.0052	pay 0.0007% / 1h	38m 05s	$8.3M	$42.5M	25x
Short	edgeX BTCUSDC	86,362.3	0.0100	get 0.0050% / 4h	3h 38m	$278.9M	$950.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against RISEx. 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 RISExbpFee edgeXbpOrdersPrice spread, now −0.004%Rate

Funding earned: $10.03
Price spread: −0.004% → −0.047%: $4.29
Slippage, 4 orders: −$1.76
Fee RISEx: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$2.44
Costs to cover: 0.168%
Break-even: 8.7 days

Slippage from RISEx: live order book, 1 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 RISEx live order book, 1 min ago	0.01 bp	3.0 bp −$3	3.0 bp −$30	10.5 bp −$1,049	doesn't fit
Sell edgeX live order book, 1 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$471	5.8 bp −$2,919

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	−0.0129%	1h	86,448	+0.095%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,388	+0.026%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,357.4	−0.010%	$361K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,391.1	+0.029%	$498K	$21.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,373.9	+0.009%	$36.9M	—	200x	as long as short
dYdX BTC-USD	+0.0020%	1h	86,402.9	+0.043%	$16.9M	$20.5M	50x	as long as short
Aster BTCUSDT	+0.0021%	8h	86,376.1	+0.012%	$500.9M	$1.14B	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,616	+0.290%	$333K	$26.9M	52x	as long as short
Deribit BTC-PERPETUAL	+0.0027%	1h	86,391.3	+0.029%	$903.5M	$1.51B	50x	as long as short
KuCoin XBTUSDTM	+0.0037%	8h	86,360.5	−0.006%	$830.7M	$722.2M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BTCUSDT	+0.0039%	8h	86,358.9	−0.008%	$153.6M	$475.2M	150x	as long as short
Reya BTCRUSDPERP	+0.0043%	1h	86,355.6	−0.012%	$6.7M	$145.7M	40x	as long as short
BingX BTC-USDT	+0.0049%	8h	86,379.4	+0.016%	—	$1.58B	—	as long as short
RISEx BTC/USDClong	+0.0052%	1h	86,365.9	long leg	$8.3M	$42.5M	25x
Bitget BTCUSDT	+0.0062%	8h	86,380.6	+0.017%	$2.97B	$5.05B	150x	as long as short
MEXC BTC_USDT	+0.0078%	8h	86,353.6	−0.014%	$5.13B	$5.68B	500x	as long as short
Binance BTCUSDT	+0.0078%	8h	86,370.5	+0.005%	$9.40B	$24.35B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,333.4	−0.038%	$2.5M	$1.7M	20x	as long as short
Lighter BTC	+0.0096%	1h	86,368.6	+0.003%	$170.4M	$984.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,384.3	+0.021%	$23.7M	$149.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,355	−0.013%	$8.4M	$52.1M	100x	as long as short
SoDEX BTC-USD	+0.0098%	1h	86,354	−0.014%	$60.4M	$338.2M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,333	−0.038%	$202K	$7.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,378.2	+0.014%	$4.5M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,364.6	−0.002%	$21.9M	$229.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,449.7	+0.097%	$3.79B	$4.99B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,389.6	+0.027%	$40.7M	$551.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,388.9	+0.027%	$5.25B	$9.69B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,392.2	+0.030%	$2.56B	$12.52B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,360	−0.007%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,386.7	+0.024%	$7.2M	$95.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,348	−0.021%	$573.1M	$19.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,380.3	+0.017%	$5.81B	$10.52B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,365.8	0.000%	$37.5M	$155.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,351.7	−0.016%	$158.4M	$564.0M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	86,362.3	−0.004%	$278.9M	$950.0M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,468.6	+0.119%	$217.0M	$165.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,361.6	−0.005%	$141.6M	$322.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,384.9	+0.022%	$30.7M	$208.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,405.4	+0.046%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,355	−0.013%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,355.9	−0.012%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,354.2	−0.014%	$2.5M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,388.2	+0.026%	$144K	$667K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,386.6	+0.024%	$30.5M	$58.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,362.2	−0.004%	$3.4M	$5.2M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,339.1	−0.031%	$2.29B	$963.2M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,368.7	+0.003%	$45.9M	$222.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,373.9	+0.009%	—	$98.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,395.4	+0.034%	$132.0M	$5.45B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,385.2	+0.022%	$192.1M	$942.1M	100x	as long as short
Hibachi BTC/USDT-P	+0.0160%	1h	86,428.6	+0.073%	$711K	$8.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0165%	1h	86,410.6	+0.052%	$77K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0198%	8h	86,346.7	−0.022%	$415.9M	$648.6M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0217%	1h	86,368.9	+0.003%	$14.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0210%	8h	86,390	+0.028%	$10.0M	$762.4M	6.4x	as long as short