Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.020%

Price spread now: Ondo Perps against BingX+0.037%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.037% dearer against BingX than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BTC-USDT	86,374	0.0050	pay 0.0050% / 8h	7h 29m	—	$1.57B	—
Short	Ondo Perps BTC-USD.P	86,406	0.0100	get 0.0013% / 1h	29m 30s	$3.9M	$17.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against BingX. 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 BingXbpFee Ondo PerpsbpOrdersPrice spread, now +0.037%Rate

Funding earned: $10.5
Price spread: +0.037% → 0.000%: $3.7
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$0.8
Costs to cover: 0.150%
Break-even: 7.5 days

Slippage unknown: BingX: live order book, 10 min ago; 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 10 min ago	0.02 bp	5.0 bp −$5	5.1 bp −$51	5.4 bp −$539	5.6 bp −$2,785
Sell Ondo Perps no order-book sample	—	—	—	—	—

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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin BTC-PERP	−0.0419%	1h	86,411.7	+0.044%	$144K	$666K	40x	as long as short
Phoenix BTC	−0.0129%	1h	86,403	+0.034%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,378	+0.005%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,370	−0.005%	$361K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,374.4	0.000%	$482K	$21.5M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,395	+0.024%	$36.9M	—	200x	as long as short
Aster BTCUSDT	+0.0022%	8h	86,376.1	+0.002%	$500.9M	$1.14B	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,358	−0.019%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0027%	1h	86,382.2	+0.009%	$16.9M	$20.5M	50x	as long as short
KuCoin XBTUSDTM	+0.0040%	8h	86,369.5	−0.005%	$831.4M	$720.1M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0045%	1h	86,360.8	−0.015%	$6.7M	$145.7M	40x	as long as short
BingX BTC-USDTlong	+0.0050%	8h	86,374	long leg	—	$1.57B	—
RISEx BTC/USDC	+0.0052%	1h	86,372.5	−0.002%	$8.3M	$42.5M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0061%	1h	86,419.2	+0.052%	$902.6M	$1.51B	50x	as long as short
Bitget BTCUSDT	+0.0063%	8h	86,357.5	−0.019%	$2.97B	$5.04B	150x	as long as short
Phemex BTCUSDT	+0.0074%	8h	86,381.2	+0.008%	$154.3M	$473.6M	150x	as long as short
MEXC BTC_USDT	+0.0077%	8h	86,362.5	−0.013%	$5.13B	$5.70B	500x	as long as short
Binance BTCUSDT	+0.0078%	8h	86,386.4	+0.014%	$9.42B	$24.29B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,370.3	−0.004%	$2.5M	$1.7M	20x	as long as short
HTX BTC-USDT	+0.0081%	8h	86,365.3	−0.010%	$2.29B	$964.6M	200x	as long as short
Lighter BTC	+0.0096%	1h	86,378.5	+0.005%	$170.5M	$985.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,391.1	+0.020%	$23.7M	$149.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,358	−0.019%	$8.4M	$52.0M	100x	as long as short
SoDEX BTC-USD	+0.0097%	1h	86,380	+0.007%	$60.4M	$338.2M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,338	−0.042%	$202K	$7.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,392	+0.021%	$4.2M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,408.6	+0.040%	$22.0M	$228.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,432	+0.067%	$3.79B	$5.00B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,400.7	+0.031%	$41.1M	$552.2M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,395.4	+0.025%	$5.26B	$9.66B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,389.8	+0.018%	$2.56B	$12.48B	100x	as long as short
Ondo Perps BTC-USD.Pshort	+0.0100%	1h	86,406	+0.037%	$3.9M	$17.9M	25x
Arcus BTC-USD	+0.0100%	1h	86,392.7	+0.022%	$7.2M	$94.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,348	−0.030%	$573.1M	$19.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,384.6	+0.012%	$5.80B	$10.54B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,399.7	+0.030%	$37.5M	$157.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,377.3	+0.004%	$158.2M	$561.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,361.8	−0.014%	$278.9M	$951.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,400.1	+0.030%	$217.0M	$165.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,356.3	−0.020%	$141.6M	$321.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,351.2	−0.026%	$30.7M	$209.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,411.9	+0.044%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,366	−0.009%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,364.5	−0.011%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,368.9	−0.006%	$2.4M	$8.9M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,403.8	+0.035%	$30.5M	$58.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,359.4	−0.017%	$3.4M	$5.2M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,345.4	−0.033%	$45.9M	$222.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,380.2	+0.007%	—	$98.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,425.8	+0.060%	$132.2M	$5.40B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,413.4	+0.046%	$192.4M	$942.2M	100x	as long as short
Aftermath Perps BTCUSD	+0.0166%	1h	86,396	+0.026%	$77K	$217K	20x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	86,399.8	+0.030%	$710K	$7.9M	30x	as long as short
BloFin BTC-USDT	+0.0197%	8h	86,370.5	−0.004%	$415.9M	$645.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0205% / S −0.0219%	1h	86,381.5	+0.009%	$14.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0209%	8h	86,398	+0.028%	$10.2M	$763.5M	6.4x	as long as short