Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.014%

Price spread now: edgeX against 01 Exchange−0.149%57s7-day average −0.035% · 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−$180.180% of the position

Long on 01 Exchange Short on edgeX

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+0.115%+$12 · spread now −0.149%, 7d avg −0.035%

Together, before fees+0.060%+ Points / potential airdropedgeX: Active · farm board+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.113% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.149% now, against its 7-day average of −0.035%). If the spread goes back, that is −$11 on $10k: about 2.6 days of funding at the current rate (+$4 a day). Mind the row above: over the last 4 days funding on this pair cost −0.055%, so the current rate has only just turned in your favour. The two prices were read 57 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	01 Exchange BTCUSD	85,639.1	−0.0048	get 0.0006% / 1h	42m 00s	$369K	$2.3M	50x
Short	edgeX BTCUSDC	85,511.8	0.0100	get 0.0050% / 4h	1h 42m	$278.9M	$932.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.149%Rate

Funding earned: $31.08
Price spread: −0.149% → −0.035%: −$11.32
Slippage, 4 orders: −$1.99
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $1.77
Costs to cover: 0.180%
Break-even: 6.6 days

Slippage from 01 Exchange: live order book, 2 min ago; edgeX: live order book, 2 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, 2 min ago	0.01 bp	4.9 bp −$5	9.6 bp −$96	doesn't fit	doesn't fit
Sell edgeX live order book, 2 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	4.8 bp −$482	5.9 bp −$2,955

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	−0.0160%	1h	85,485	−0.180%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,574	−0.076%	$8K	$3K	50x	as long as short
01 Exchange BTCUSDlong	−0.0048%	1h	85,639.1	long leg	$369K	$2.3M	50x
BloFin BTC-USDT	−0.0033%	8h	85,602.1	−0.043%	$416.5M	$662.4M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,643.2	+0.005%	$16.8M	$20.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,656.4	+0.020%	$36.7M	—	200x	as long as short
Nado BTC-PERP	+0.0005%	1h	85,636.3	−0.003%	$22.8M	$221.6M	50x	as long as short
KuCoin XBTUSDTM	+0.0014%	8h	85,551.1	−0.103%	$906.7M	$749.7M	125x	as long as short
Aster BTCUSDT	+0.0020%	8h	85,646.2	+0.008%	$516.1M	$1.11B	200x	as long as short
BingX BTC-USDC	+0.0053%	8h	85,550.9	−0.103%	—	$17.0M	—	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0066%	1h	85,637.8	−0.002%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0067%	8h	85,569.7	−0.081%	$2.95B	$5.02B	150x	as long as short
Phemex BTCUSDT	+0.0072%	8h	85,653.9	+0.017%	$148.4M	$478.4M	150x	as long as short
HTX BTC-USDT	+0.0073%	8h	85,650.9	+0.014%	$2.27B	$932.8M	200x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,617	−0.026%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,646.9	+0.009%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,570.5	−0.080%	$5.04B	$5.60B	500x	as long as short
SunX BTC-USDT	+0.0087%	8h	85,614.3	−0.029%	$2.9M	$6.1M	100x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,567.7	−0.083%	$9.32B	$23.91B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,662.5	+0.027%	$169.7M	$986.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,663.4	+0.028%	$23.9M	$147.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,638	−0.001%	$8.4M	$51.9M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,682.8	+0.051%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,609	−0.035%	$204K	$7.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,714	+0.087%	$3.78B	$4.94B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,656.6	+0.020%	$40.2M	$571.1M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,565.3	−0.086%	$5.33B	$9.59B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,555.5	−0.098%	$2.57B	$12.11B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,635	−0.005%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,599.1	−0.047%	$7.3M	$97.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,562.7	−0.089%	$616.1M	$358.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,566.9	−0.084%	$5.55B	$10.46B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,634.3	−0.006%	$35.1M	$171.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,485	−0.180%	$154.0M	$550.0M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	85,511.8	−0.149%	$278.9M	$932.4M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,432.8	−0.241%	$214.5M	$161.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,578.6	−0.071%	$140.0M	$316.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,588.9	−0.059%	$30.3M	$211.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,683.9	+0.052%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,634	−0.006%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,646.1	+0.008%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,641.7	+0.003%	$2.4M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,685.3	+0.054%	$197K	$721K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,645.3	+0.007%	$30.0M	$52.5M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,660	+0.024%	$60.0M	$336.2M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0102%	1h	85,692.2	+0.062%	$893.3M	$1.52B	50x	as long as short
Extended BTC-USD	+0.0104%	1h	85,549.5	−0.105%	$44.1M	$227.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,617.6	−0.025%	—	$106.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,693.9	+0.064%	$130.9M	$5.09B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,663	+0.028%	$8.3M	$42.2M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,683.5	+0.052%	$187.6M	$947.5M	100x	as long as short
Aftermath Perps BTCUSD	+0.0194%	1h	85,583.1	−0.065%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,583.5	−0.065%	$697K	$7.9M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0180%	1h	85,651.6	+0.015%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,664	+0.029%	$10.5M	$760.4M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,632.2	−0.008%	$524K	$19.5M	6.7x	as long as short