Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.044%

Price spread now: Jupiter Perps against SunX+0.008%7-day average +0.021% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.150%−$15 on $10k

Price spread, last 3 days (all we have)+0.023%+$2 · spread now +0.008%, 7d avg +0.021%

Together, before fees−0.127%−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.021%, 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	SunX BTC-USDT	86,441.1	0.0100	pay 0.0100% / 8h	7h 42m	$3.4M	$5.2M	100x
Short	Jupiter Perps WBTC-PERP	86,448.1	L +0.0104% / S +0.0048%	pay 0.0006% / 1h	42m 12s	—	$99.2M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps against SunX. 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 SunXbpFee Jupiter PerpsbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$31.08
Price spread: +0.008% → +0.021%: −$1.27
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$52.35
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 6 min ago; Jupiter Perps: no order-book sample. Net counts fees only.

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 SunX live order book, 6 min ago	2.16 bp	6.2 bp −$6	6.8 bp −$68	9.1 bp −$913	doesn't fit
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	86,400	−0.048%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,430	−0.013%	$9K	$3K	50x	as long as short
Phemex BTCUSDT	−0.0043%	8h	86,427	−0.016%	$153.7M	$476.4M	150x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,444.2	+0.004%	$361K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,446.3	+0.006%	$457K	$21.9M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,456.8	+0.018%	$903.6M	$1.51B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,450.6	+0.011%	$36.9M	—	200x	as long as short
Aster BTCUSDT	+0.0021%	8h	86,434.1	−0.008%	$501.3M	$1.14B	200x	as long as short
dYdX BTC-USD	+0.0021%	1h	86,468.3	+0.031%	$16.9M	$20.5M	50x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,616	+0.202%	$333K	$26.9M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin XBTUSDTM	+0.0034%	8h	86,435.5	−0.007%	$831.4M	$723.5M	125x	as long as short
Reya BTCRUSDPERP	+0.0043%	1h	86,429.4	−0.014%	$6.7M	$145.7M	40x	as long as short
BingX BTC-USDC	+0.0048%	8h	86,425.2	−0.018%	—	$15.3M	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,444.7	+0.004%	$8.3M	$42.6M	25x	as long as short
Bitget BTCUSDT	+0.0062%	8h	86,434.9	−0.007%	$2.97B	$5.06B	150x	as long as short
MEXC BTC_USDT	+0.0078%	8h	86,436.2	−0.006%	$5.13B	$5.67B	500x	as long as short
Binance BTCUSDT	+0.0079%	8h	86,427.2	−0.016%	$9.41B	$24.41B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,410	−0.036%	$2.5M	$1.6M	20x	as long as short
Lighter BTC	+0.0096%	1h	86,445.6	+0.005%	$170.3M	$983.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,450	+0.010%	$23.7M	$148.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,429	−0.014%	$8.4M	$52.1M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,409	−0.037%	$202K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,465.3	+0.028%	$4.7M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,434.4	−0.008%	$22.0M	$230.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,510	+0.080%	$3.80B	$5.05B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,464.5	+0.027%	$40.8M	$546.1M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,451.4	+0.012%	$5.26B	$9.71B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,455.8	+0.017%	$2.57B	$12.58B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,445	+0.005%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,464.9	+0.028%	$7.2M	$95.7M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,438.5	−0.003%	$5.83B	$10.51B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,431	−0.012%	$37.4M	$156.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,385.8	−0.064%	$158.2M	$567.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,391.4	−0.058%	$279.0M	$951.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,413.6	−0.032%	$217.1M	$167.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,422.4	−0.022%	$141.5M	$322.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,413.4	−0.032%	$30.7M	$208.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,478.6	+0.043%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,432	−0.011%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,434.2	−0.008%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,429.5	−0.013%	$2.5M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,465.8	+0.029%	$144K	$667K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,459.1	+0.021%	$30.5M	$62.5M	15x	as long as short
SunX BTC-USDTlong	+0.0100%	8h	86,441.1	long leg	$3.4M	$5.2M	100x
SoDEX BTC-USD	+0.0100%	1h	86,428	−0.015%	$60.4M	$338.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,425.1	−0.019%	$2.29B	$964.6M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,336.3	−0.121%	$571.6M	$13.0M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,415.6	−0.029%	$45.9M	$222.5M	50x	as long as short
Jupiter Perps WBTC-PERPshort	L +0.0104% / S +0.0048%	1h	86,448.1	+0.008%	—	$99.2M	500x
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,466.9	+0.030%	$132.5M	$5.49B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,453	+0.014%	$192.3M	$944.8M	100x	as long as short
Hibachi BTC/USDT-P	+0.0160%	1h	86,498.6	+0.067%	$712K	$8.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0164%	1h	86,438.1	−0.003%	$78K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0199%	8h	86,461.6	+0.024%	$414.9M	$651.0M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0216%	1h	86,442.9	+0.002%	$14.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	86,458	+0.020%	$9.9M	$761.6M	6.4x	as long as short