Settings8H · net · $10k
Funding arb · Price arb /

BTC

all BTC markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%
Price spread now: Ondo Perps against Vest−0.099%50s7-day average +0.002% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.037%+$4 on $10k
Price spread, last 7 days−0.054%−$5 · spread now −0.099%, 7d avg +0.002%
Together, before fees−0.017%+ Points / potential airdropVest: Active · Ondo Perps: Active · farm board−$2 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: Ondo Perps is 0.101% cheaper against Vest than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.002%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVest BTC-PERP85,5710.0100pay 0.0013% / 1h46m 47s$11.8M50x
ShortOndo Perps BTC-USD.P85,4860.0100get 0.0013% / 1h46m 47s$3.9M$18.0M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Ondo Perps against Vest. 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

Funding earned
$0
Price spread: −0.099% → +0.002%
−$10.09
Slippage, 4 orders
no order book: not counted
Fee Vest: 1 bp × 2 orders
−$2
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Net
−$17.09
Costs to cover
0.070%
Break-even
never at this rate
Slippage unknown: Vest: no order-book sample; Ondo 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
LegHalf-spread$10k$100k$1M$5M
Buy Vest no order-book sample
Sell Ondo Perps no order-book sample
Vest and Ondo 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bluefin BTC-PERP−0.1041%1h85,488.9−0.096%$194K$725K40xas long as short
Phoenix BTC−0.0179%1h85,568−0.004%$2.2M$10.3M40xas long as short
Hotstuff BTC-PERP−0.0080%1h85,527−0.051%$8K$3K50xas long as short
01 Exchange BTCUSD−0.0040%1h85,525.9−0.053%$368K$2.3M50xas long as short
BloFin BTC-USDT−0.0031%8h85,469.1−0.119%$417.7M$665.3M150xas long as short
KuCoin XBTUSDTM−0.0003%8h85,419.8−0.177%$916.8M$749.5M125xas long as short
dYdX BTC-USD0.0000%1h85,499.7−0.083%$16.7M$21.2M50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h85,502.2−0.080%$36.5M200xas long as short
Aster BTCUSDT+0.0013%8h85,471.4−0.116%$515.1M$1.10B200xas long as short
Arcus BTC-USD+0.0021%1h85,471.3−0.117%$6.9M$97.2M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Nado BTC-PERP+0.0053%1h85,547.1−0.028%$22.6M$218.9M50xas long as short
BingX BTC-USDC+0.0058%8h85,473.2−0.114%$17.1Mas long as short
Bitget BTCUSDT+0.0075%8h85,486.4−0.099%$2.96B$5.02B150xas long as short
Reya BTCRUSDPERP+0.0078%1h85,511.9−0.069%$6.7M$146.6M40xas long as short
Aevo BTC-PERP+0.0088%1h85,463−0.126%$2.4M$1.7M20xas long as short
Binance BTCUSDT+0.0088%8h85,498.1−0.085%$9.33B$24.01B150xas long as short
MEXC BTC_USDT+0.0089%8h85,499.1−0.084%$5.04B$5.58B500xas long as short
SoDEX BTC-USD+0.0095%1h85,451−0.140%$59.9M$336.1M40xas long as short
Lighter BTC+0.0096%1h85,477−0.110%$173.6M$1.00B50xas long as short
Lighter RH BTC+0.0096%1h85,514.3−0.066%$23.8M$148.3M50xas long as short
Popdex BTCUSDT+0.0096%1h85,569−0.002%$8.4M$52.6M100xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,555−0.019%$4.1M$8.5M50xas long as short
Katana Perps BTC-USD+0.0100%8h85,466−0.123%$233K$7.9M50xas long as short
Hyperliquid BTC+0.0100%1h85,501−0.082%$3.74B$4.97B40xas long as short
Pacifica BTC+0.0100%1h85,525.3−0.053%$40.0M$575.8M50xas long as short
Bybit BTCUSDT+0.0100%8h85,498.3−0.085%$5.26B$9.66B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,509−0.072%$2.57B$12.09B100xas long as short
Ondo Perps BTC-USD.Pshort+0.0100%1h85,486−0.099%$3.9M$18.0M25x
Bulk BTC-USD+0.0100%1h85,696.6+0.147%$648.3M$574.6M40xas long as short
Gate BTC_USDT+0.0100%8h85,497.1−0.086%$5.53B$10.56B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,455.4−0.135%$35.8M$175.9M75xas long as short
Variational Omni BTC+0.0100%8h85,584.4+0.016%$156.6M$560.5Mas long as short
edgeX BTCUSDC+0.0100%4h85,552.4−0.022%$279.4M$918.5M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,550.2−0.024%$214.8M$166.8M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h85,565.9−0.006%$139.9M$314.8M100xas long as short
StandX BTC-USD+0.0100%1h85,576.1+0.006%$30.2M$207.5M40xas long as short
Vest BTC-PERPlong+0.0100%1h85,571long leg$11.8M50x
Polymarket Perps BTC-USD+0.0100%1h85,535−0.042%$11.0M$14.2M50xas long as short
Bullet BTC-USD+0.0100%1h85,520−0.060%$194K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,454.6−0.136%$2.3M$8.8M100xas long as short
Derive BTC-PERP+0.0100%1h85,457.3−0.133%$29.9M$50.9M15xas long as short
SunX BTC-USDT+0.0100%8h85,500.6−0.082%$2.9M$6.1M100xas long as short
HTX BTC-USDT+0.0100%8h85,441.2−0.152%$2.26B$939.8M200xas long as short
Phemex BTCUSDT+0.0100%8h85,467−0.122%$151.0M$483.1M150xas long as short
Extended BTC-USD+0.0104%1h85,466−0.123%$44.5M$226.3M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h85,541.2−0.035%$106.8M500xas long as short
Coinbase International BTC-PERP-INTX+0.0104%1h85,482.5−0.103%$117.4M$5.15B50xas long as short
Injective BTC/USDC PERP+0.0150%1h85,617+0.054%$340K$26.9M52xas long as short
Kraken Futures PF_XBTUSD+0.0170%1h85,466.3−0.122%$188.8M$953.1M100xas long as short
Deribit BTC-PERPETUAL+0.0172%1h85,497.6−0.086%$893.4M$1.53B50xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0176% / S −0.0151%1h85,518.9−0.061%$13.4M200xas long as short
Hibachi BTC/USDT-P+0.0184%1h85,567.8−0.004%$694K$7.9M30xas long as short
RISEx BTC/USDC+0.0194%1h85,510.7−0.070%$8.3M$42.4M25xas long as short
Aftermath Perps BTCUSD+0.0204%1h85,612.2+0.048%$78K$219K20xas long as short
Kalshi KXBTCPERP+0.0218%8h85,553−0.021%$10.4M$758.9M6.4xas long as short
Perpl BTC+0.0447%43m85,532.7−0.045%$502K$18.9M6.7xas long as short