Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0133%/8h= −14.6% APRpaid last 24h −0.028%

Price spread now: KuCoin against RISEx−0.026%7-day average −0.009% · 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−$21as in the Price arb table

costs, in and out, $10k−$200.195% of the position

Long on RISEx Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.055%−$6 on $10k

Price spread, last 7 days+0.010%+$1 · spread now −0.026%, 7d avg −0.009%

Together, before fees−0.045%−$5 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: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx BTC/USDC	86,098.7	0.0187	pay 0.0023% / 1h	52m 18s	$8.9M	$37.1M	25x
Short	KuCoin XBTUSDTM	86,076.2	0.0054	get 0.0054% / 8h	5h 52m	$942.9M	$634.7M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$27.91
Price spread: −0.026% → −0.009%: −$1.71
Slippage, 4 orders: −$1.52
Fee RISEx: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$49.14
Costs to cover: 0.195%
Break-even: never at this rate

Slippage from RISEx: live order book, 5 min ago; KuCoin: live order book, 5 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, 5 min ago	0.01 bp	3.0 bp −$3	3.0 bp −$30	10.9 bp −$1,088	doesn't fit
Sell KuCoin live order book, 5 min ago	0.01 bp	6.0 bp −$6	6.4 bp −$64	7.4 bp −$738	doesn't fit

BTC on 55 exchanges

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	−0.0133%	1h	86,126	+0.032%	$2.0M	$7.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,197	+0.114%	$8K	$2K	50x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	86,076.4	−0.026%	$363K	$2.0M	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	86,091.8	−0.008%	$421.2M	$564.2M	150x	as long as short
SoDEX BTC-USD	−0.0011%	1h	86,100	+0.002%	$65.9M	$188.0M	40x	as long as short
dYdX BTC-USD	0.0000%	1h	86,064.4	−0.040%	$16.9M	$14.6M	50x	as long as short
Perpl BTC	0.0000%	43m	86,108.2	+0.011%	$481K	$13.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,111.6	+0.015%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0009%	1h	86,214	+0.134%	$301K	$26.1M	52x	as long as short
Aster BTCUSDT	+0.0028%	8h	86,085.8	−0.015%	$513.2M	$875.3M	200x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_XBTUSD	+0.0029%	1h	86,113.5	+0.017%	$191.3M	$770.3M	100x	as long as short
BingX BTC-USDC	+0.0030%	8h	86,065.8	−0.038%	—	$16.3M	—	as long as short
Bybit BTCUSDT	+0.0036%	8h	86,100	+0.002%	$5.14B	$8.14B	150x	as long as short
ApeX Omni BTCUSDT	+0.0037%	1h	86,155.8	+0.066%	$137.8M	$295.3M	100x	as long as short
KuCoin XBTUSDTMshort	+0.0054%	8h	86,076.2	−0.026%	$942.9M	$634.7M	125x
Gate BTC_USDT	+0.0063%	8h	86,084.1	−0.017%	$5.51B	$8.88B	200x	as long as short
Popdex BTCUSDT	+0.0072%	1h	86,073	−0.030%	$8.8M	$45.3M	100x	as long as short
Phemex BTCUSDT	+0.0088%	8h	86,088.5	−0.012%	$170.6M	$479.1M	150x	as long as short
Bitget BTCUSDT	+0.0095%	8h	86,088.2	−0.012%	$2.99B	$3.97B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,103.5	+0.006%	$173.8M	$852.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,105.8	+0.008%	$23.4M	$119.0M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	86,069.3	−0.034%	$2.4M	$6.7M	20x	as long as short
HTX BTC-USDT	+0.0097%	8h	86,076.7	−0.026%	$2.27B	$805.8M	200x	as long as short
Binance BTCUSDT	+0.0099%	8h	86,089.2	−0.011%	$9.46B	$20.58B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,048	−0.059%	$218K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,112	+0.015%	$6.0M	$7.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,059.5	−0.046%	$23.5M	$196.0M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,101.8	+0.004%	$40.4M	$570.0M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,106.2	+0.009%	$2.61B	$9.51B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,063	−0.041%	$4.0M	$15.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,105.1	+0.007%	$4.2M	$90.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,169.3	+0.082%	$716.4M	$134.3M	40x	as long as short
MEXC BTC_USDT	+0.0100%	8h	86,084	−0.017%	$5.18B	$4.82B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,094.4	−0.005%	$38.7M	$196.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,125.5	+0.031%	$158.0M	$474.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,136.3	+0.044%	$290.0M	$813.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,151.9	+0.062%	$216.4M	$133.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	86,151	+0.061%	$30.3M	$222.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,134.7	+0.042%	—	$9.4M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,077	−0.025%	$11.0M	$12.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,093.8	−0.006%	$205K	$3.2M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,080.1	−0.022%	$2.7M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,127.2	+0.033%	$195K	$564K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,061.2	−0.044%	$3.2M	$6.6M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,062.9	−0.042%	$47.0M	$203.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	86,101.5	+0.003%	—	$81.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,143.8	+0.052%	$112.3M	$4.98B	50x	as long as short
Hyperliquid BTC	+0.0159%	1h	86,166	+0.078%	$3.97B	$4.36B	40x	as long as short
Kalshi KXBTCPERP	+0.0159%	8h	86,102	+0.004%	$11.9M	$733.1M	6.4x	as long as short
Reya BTCRUSDPERP	+0.0163%	1h	86,062.8	−0.042%	$6.6M	$131.1M	40x	as long as short
RISEx BTC/USDClong	+0.0187%	1h	86,098.7	long leg	$8.9M	$37.1M	25x
GMX BTC/USD [WBTC.b-USDC]	L +0.0211% / S −0.0251%	1h	86,101.2	+0.003%	$15.6M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0245%	1h	86,143.2	+0.052%	$822.7M	$1.50B	50x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	86,160	+0.071%	$727K	$7.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0450%	1h	86,144.6	+0.053%	$79K	$245K	20x	as long as short