Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h +0.004%

Price spread now: BloFin against 01 Exchange+0.020%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$210.215% of the position

Long on 01 Exchange Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.013%+$1 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.020%, 7d avg −0.022%

Together, before fees−0.061%−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.042% dearer against 01 Exchange than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.022%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,119.9	−0.0016	get 0.0002% / 1h	23m 03s	$372K	$2.4M	50x
Short	BloFin BTC-USDT	85,137.3	−0.0035	pay 0.0035% / 8h	2h 23m	$419.2M	$679.4M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against 01 Exchange. 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 01 ExchangebpFee BloFinbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$3.96
Price spread: +0.020% → −0.022%: $4.23
Slippage, 4 orders: −$2.5
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$21.23
Costs to cover: 0.215%
Break-even: never at this rate

Slippage from 01 Exchange: live order book, 1 min ago; BloFin: live order book, 6 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 01 Exchange live order book, 1 min ago	0.01 bp	5.6 bp −$6	10.1 bp −$101	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.0 bp −$602	6.6 bp −$3,276

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
Perpl BTC	−0.0112%	43m	85,115	−0.006%	$525K	$18.4M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,134	+0.017%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,150	+0.035%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0054%	8h	85,122.9	+0.004%	$921.2M	$763.8M	125x	as long as short
BloFin BTC-USDTshort	−0.0035%	8h	85,137.3	+0.020%	$419.2M	$679.4M	150x
Aster BTCUSDT	−0.0016%	8h	85,132.5	+0.015%	$511.8M	$1.09B	200x	as long as short
01 Exchange BTCUSDlong	−0.0016%	1h	85,119.9	long leg	$372K	$2.4M	50x
dYdX BTC-USD	+0.0001%	1h	85,176	+0.066%	$16.7M	$21.4M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,121.8	+0.002%	$36.4M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	85,225	+0.123%	$338K	$26.8M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0035%	1h	85,138	+0.021%	$24.7M	$222.6M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,138.9	+0.022%	$186.8M	$953.9M	100x	as long as short
BingX BTC-USDT	+0.0067%	8h	85,152.3	+0.038%	—	$1.56B	—	as long as short
Deribit BTC-PERPETUAL	+0.0070%	1h	85,157.3	+0.044%	$866.9M	$1.61B	50x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,113.3	−0.008%	$2.4M	$6.7M	20x	as long as short
Phemex BTCUSDT	+0.0081%	8h	85,140.4	+0.024%	$147.2M	$505.0M	150x	as long as short
MEXC BTC_USDT	+0.0084%	8h	85,140.9	+0.025%	$5.05B	$5.72B	500x	as long as short
Bitget BTCUSDT	+0.0085%	8h	85,139.3	+0.023%	$2.95B	$5.15B	150x	as long as short
Binance BTCUSDT	+0.0085%	8h	85,168	+0.057%	$9.41B	$24.81B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,135.6	+0.018%	$170.9M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,141.6	+0.025%	$23.6M	$148.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,101	−0.022%	$8.3M	$55.7M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,167	+0.055%	$116.8M	$5.39B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,075	−0.053%	$238K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,186.7	+0.078%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,219	+0.116%	$3.74B	$5.06B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,151.2	+0.037%	$40.1M	$599.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,138.3	+0.022%	$5.14B	$9.94B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,147.5	+0.032%	$2.57B	$12.16B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,107	−0.015%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,109.5	−0.012%	$4.6M	$99.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,183.8	+0.075%	$678.4M	$603.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,141.7	+0.026%	$5.51B	$10.98B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,129.5	+0.011%	$36.2M	$176.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,082	−0.045%	$154.2M	$566.7M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,094.5	−0.030%	$278.9M	$945.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,181.8	+0.073%	$213.9M	$166.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,090.5	−0.035%	$139.1M	$315.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,181.9	+0.073%	$30.1M	$206.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,188.1	+0.080%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,100	−0.023%	$11.0M	$14.4M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,104	−0.019%	$204K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,121.2	+0.002%	$2.5M	$9.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,165.6	+0.054%	$227K	$760K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,095.8	−0.028%	$29.9M	$48.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,101.4	−0.022%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,122	+0.002%	$59.6M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,115	−0.006%	$2.25B	$941.7M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,093.9	−0.030%	$45.1M	$239.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,111.7	−0.010%	—	$106.9M	500x	as long as short
Reya BTCRUSDPERP	+0.0116%	1h	85,096.4	−0.028%	$6.6M	$147.4M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,108.2	−0.014%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0181%	8h	85,145	+0.029%	$11.5M	$743.7M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0224%	1h	85,166	+0.054%	$78K	$227K	20x	as long as short
Hibachi BTC/USDT-P	+0.0232%	1h	85,206.5	+0.102%	$687K	$8.0M	30x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,124.7	+0.006%	$8.7M	$43.2M	25x	as long as short