Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.027%

Price spread now: Aftermath Perps against Bitget−0.040%7-day average +0.032% · 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−$40as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on Bitget Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.063%+$6 on $10k

Price spread, last 4 days (all we have)+0.370%+$37 · spread now −0.040%, 7d avg +0.032%

Together, before fees+0.433%+$43 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aftermath Perps is 0.072% cheaper against Bitget than usual: you would sell low and buy high (spread −0.040% now, against its 7-day average of +0.032%). If the spread goes back, that is −$7 on $10k: about 2.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BTCUSDT	85,791.3	0.0070	pay 0.0070% / 8h	6h 22m	$2.95B	$5.08B	150x
Short	Aftermath Perps BTCUSD	85,757.3	0.0165	get 0.0021% / 1h	22m 53s	$78K	$219K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Bitget. 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 BitgetbpFee Aftermath PerpsbpOrdersPrice spread, now −0.040%Rate

Funding earned: $20.02
Price spread: −0.040% → +0.032%: −$7.2
Slippage, 4 orders: −$12.24
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$20.41
Costs to cover: 0.332%
Break-even: 14.1 days

Slippage from Bitget: live order book, 1 min ago; Aftermath Perps: live order book, 46 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 Bitget live order book, 1 min ago	0.01 bp	6.4 bp −$6	6.5 bp −$65	6.8 bp −$678	doesn't fit
Sell Aftermath Perps live order book, 46 min ago	1.00 bp	11.2 bp −$11	doesn't fit	doesn't fit	doesn't fit

BTC on 55 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	−0.0144%	1h	85,733	−0.068%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,777	−0.017%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,746.5	−0.052%	$365K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,774.7	−0.019%	$514K	$20.5M	6.7x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,800	+0.010%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,770	−0.025%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	−0.117%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0032%	8h	85,774.8	−0.019%	$903.8M	$754.5M	125x	as long as short
Aster BTCUSDT	+0.0038%	8h	85,776.1	−0.018%	$516.7M	$1.14B	200x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,782.8	−0.010%	$8.2M	$42.0M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0053%	1h	85,760.6	−0.036%	$22.6M	$227.4M	50x	as long as short
BingX BTC-USDC	+0.0055%	8h	85,756.7	−0.040%	—	$17.0M	—	as long as short
Reya BTCRUSDPERP	+0.0058%	1h	85,751.2	−0.047%	$6.7M	$146.3M	40x	as long as short
Bitget BTCUSDTlong	+0.0070%	8h	85,791.3	long leg	$2.95B	$5.08B	150x
HTX BTC-USDT	+0.0079%	8h	85,747.2	−0.051%	$2.27B	$946.9M	200x	as long as short
ApeX Omni BTCUSDT	+0.0086%	1h	85,787	−0.005%	$140.3M	$318.4M	100x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,752.6	−0.045%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0092%	8h	85,807.6	+0.019%	$5.07B	$5.73B	500x	as long as short
Binance BTCUSDT	+0.0093%	8h	85,790.8	−0.001%	$9.34B	$24.29B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,763.2	−0.033%	$170.4M	$990.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,774	−0.020%	$23.5M	$147.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,759	−0.038%	$8.4M	$51.9M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,729	−0.073%	$203K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,738.4	−0.062%	$3.8M	$8.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,821.5	+0.035%	$3.76B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,790.3	−0.001%	$40.3M	$571.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,800	+0.010%	$5.31B	$9.74B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,799	+0.009%	$2.54B	$12.36B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,747	−0.052%	$4.0M	$18.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,727.3	−0.075%	$7.2M	$98.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,744.8	−0.054%	$590.5M	$195.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,776.2	−0.018%	$5.61B	$10.55B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,751.4	−0.047%	$35.3M	$164.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,799.4	+0.009%	$156.6M	$556.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,740.4	−0.059%	$278.7M	$939.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,794.3	+0.003%	$215.3M	$166.3M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,774	−0.020%	$30.3M	$208.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,816.8	+0.030%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,753	−0.045%	$11.0M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,759	−0.038%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,754.9	−0.042%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,798.1	+0.008%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,761.7	−0.035%	$30.0M	$56.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,722	−0.081%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,757	−0.040%	$60.0M	$337.3M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,756.9	−0.040%	$154.2M	$480.3M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,787.2	−0.005%	$44.1M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,768.1	−0.027%	—	$101.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,795	+0.004%	$131.2M	$5.15B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,791.7	0.000%	$696K	$7.8M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,781.1	−0.012%	$188.5M	$963.0M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0160%	1h	85,801.8	+0.012%	$894.7M	$1.54B	50x	as long as short
Aftermath Perps BTCUSDshort	+0.0165%	1h	85,757.3	−0.040%	$78K	$219K	20x
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0190%	1h	85,766.9	−0.028%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,785	−0.007%	$10.1M	$769.9M	6.4x	as long as short