Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.028%

Price spread now: RISEx against 01 Exchange0.000%7-day average +0.011% · 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−$16as in the Price arb table

costs, in and out, $10k−$150.151% of the position

Long on 01 Exchange Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.083%+$8 on $10k

Price spread, last 7 days+0.009%+$1 · spread now 0.000%, 7d avg +0.011%

Together, before fees+0.092%+$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	86,579.7	−0.0024	get 0.0003% / 1h	48m 27s	$358K	$2.5M	50x
Short	RISEx BTC/USDC	86,579.7	−0.0024	pay 0.0003% / 1h	48m 27s	$8.3M	$42.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.011%: −$1.14
Slippage, 4 orders: −$2.09
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$16.23
Costs to cover: 0.151%
Break-even: never at this rate

Slippage from 01 Exchange: live order book, 1 min ago; RISEx: live order book, 1 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	5.2 bp −$5	9.5 bp −$95	doesn't fit	doesn't fit
Sell RISEx live order book, 1 min ago	0.01 bp	3.0 bp −$3	3.0 bp −$30	10.5 bp −$1,053	doesn't fit

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	−0.0118%	1h	86,505	−0.086%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,512	−0.078%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,601	+0.025%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDCshort	−0.0024%	1h	86,579.7	0.000%	$8.3M	$42.9M	25x
01 Exchange BTCUSDlong	−0.0024%	1h	86,579.7	long leg	$358K	$2.5M	50x
Aster BTCUSDT	−0.0002%	8h	86,591.8	+0.014%	$502.7M	$1.15B	200x	as long as short
Deribit BTC-PERPETUAL	+0.0003%	1h	86,628.6	+0.056%	$916.3M	$1.49B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,608.1	+0.033%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0010%	8h	86,566.9	−0.015%	$850.5M	$714.4M	125x	as long as short
Reya BTCRUSDPERP	+0.0025%	1h	86,589.3	+0.011%	$6.7M	$145.3M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BTC-USD	+0.0036%	1h	86,586.1	+0.007%	$17.0M	$21.1M	50x	as long as short
BingX BTC-USDT	+0.0041%	8h	86,591.8	+0.014%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0044%	8h	86,523.6	−0.065%	$149.8M	$479.6M	150x	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,586.4	+0.008%	$2.96B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0071%	8h	86,589	+0.011%	$5.16B	$5.63B	500x	as long as short
Binance BTCUSDT	+0.0072%	8h	86,588.9	+0.011%	$9.43B	$24.54B	150x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,612.1	+0.037%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0083%	8h	86,589.4	+0.011%	$5.88B	$10.72B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,598.8	+0.022%	$170.4M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,604.2	+0.028%	$24.1M	$151.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,568	−0.014%	$8.5M	$52.5M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,555	−0.029%	$196K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,615.3	+0.041%	$4.8M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,592.8	+0.015%	$21.8M	$234.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,648	+0.079%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,622.4	+0.049%	$40.8M	$524.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,594.2	+0.017%	$5.27B	$9.81B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,596.5	+0.019%	$2.55B	$12.75B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,594	+0.017%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,608.1	+0.033%	$7.6M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,560.7	−0.022%	$572.5M	$17.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,514	−0.076%	$38.0M	$155.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,524.8	−0.063%	$155.3M	$568.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,541.9	−0.044%	$279.6M	$945.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,542.5	−0.043%	$217.3M	$172.2M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,541.7	−0.044%	$141.4M	$323.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,502.8	−0.089%	$30.7M	$204.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,606.8	+0.031%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,590	+0.012%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,592	+0.014%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,595.3	+0.018%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,619.8	+0.046%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,622.3	+0.049%	$30.6M	$62.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,551.6	−0.032%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,513	−0.077%	$60.5M	$337.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,498.4	−0.094%	$2.30B	$969.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,573.3	−0.007%	$45.4M	$226.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,608.1	+0.033%	—	$99.1M	500x	as long as short
Aftermath Perps BTCUSD	+0.0106%	1h	86,552.5	−0.031%	$79K	$220K	20x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,554.1	−0.030%	$193.5M	$951.0M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,573.7	−0.007%	$419K	$23.3M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,570.9	−0.010%	$132.6M	$5.68B	50x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	86,558.4	−0.025%	$721K	$8.0M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0191% / S −0.0214%	1h	86,605.3	+0.030%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0192%	8h	86,519.3	−0.070%	$414.3M	$658.1M	150x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	86,546	−0.039%	$9.8M	$740.8M	6.4x	as long as short