Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.017%

Price spread now: Ondo Perps against Bitget+0.013%7-day average +0.004% · you sell dearer than you buy

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

Long on Bitget Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 7 days−0.172%−$17 · spread now +0.013%, 7d avg +0.004%

Together, before fees−0.094%+ Points / potential airdropOndo Perps: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BTCUSDT	86,468.4	0.0046	pay 0.0046% / 8h	1h 18m	$2.95B	$5.10B	150x
Short	Ondo Perps BTC-USD.P	86,480	0.0100	get 0.0013% / 1h	18m 26s	$3.9M	$18.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo 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 Ondo PerpsbpOrdersPrice spread, now +0.013%Rate

Funding earned: $11.34
Price spread: +0.013% → +0.004%: $0.91
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$4.75
Costs to cover: 0.170%
Break-even: 9.9 days

Slippage unknown: Bitget: live order book, 6 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 Bitget live order book, 6 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.1 bp −$615	doesn't fit
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	−0.0860%	1h	86,490.3	+0.025%	$140K	$620K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,503	+0.040%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,470	+0.002%	$9K	$3K	50x	as long as short
Aster BTCUSDT	−0.0010%	8h	86,464.8	−0.004%	$504.2M	$1.15B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,469.7	+0.002%	$358K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,476.2	+0.009%	$424K	$23.7M	6.7x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,464.2	−0.005%	$851.3M	$711.6M	125x	as long as short
dYdX BTC-USD	+0.0004%	1h	86,497.2	+0.033%	$17.0M	$21.1M	50x	as long as short
Aftermath Perps BTCUSD	+0.0005%	1h	86,525.7	+0.066%	$82K	$217K	20x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,496.8	+0.033%	$36.8M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0006%	1h	86,469.7	+0.002%	$8.5M	$43.0M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0014%	1h	86,501.4	+0.038%	$920.9M	$1.48B	50x	as long as short
Reya BTCRUSDPERP	+0.0023%	1h	86,460.3	−0.009%	$6.7M	$145.0M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.105%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0034%	8h	86,466	−0.003%	$149.8M	$476.9M	150x	as long as short
BingX BTC-USDT	+0.0035%	8h	86,463.6	−0.006%	—	$1.59B	—	as long as short
Bitget BTCUSDTlong	+0.0046%	8h	86,468.4	long leg	$2.95B	$5.10B	150x
MEXC BTC_USDT	+0.0064%	8h	86,470	+0.002%	$5.14B	$5.69B	500x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,468	0.000%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0064%	8h	86,468	0.000%	$9.43B	$24.41B	150x	as long as short
Gate BTC_USDT	+0.0079%	8h	86,473.4	+0.006%	$5.85B	$10.73B	200x	as long as short
Bybit BTCUSDT	+0.0092%	8h	86,469.9	+0.002%	$5.25B	$9.77B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,479.8	+0.013%	$170.6M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,489.8	+0.025%	$24.1M	$152.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,462	−0.007%	$8.5M	$52.4M	100x	as long as short
Hibachi BTC/USDT-P	+0.0096%	1h	86,517.3	+0.057%	$717K	$8.2M	30x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,446	−0.026%	$205K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,521.4	+0.061%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,457.6	−0.013%	$22.0M	$234.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,537	+0.079%	$3.80B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,509.1	+0.047%	$40.8M	$513.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,472.6	+0.005%	$2.54B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.Pshort	+0.0100%	1h	86,480	+0.013%	$3.9M	$18.6M	25x
Arcus BTC-USD	+0.0100%	1h	86,534.4	+0.076%	$7.4M	$94.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,498.7	+0.035%	$571.7M	$18.6M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,463.1	−0.006%	$37.8M	$155.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,498.8	+0.035%	$156.2M	$568.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,531.2	+0.073%	$279.7M	$948.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,518.2	+0.058%	$217.2M	$175.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,540.1	+0.083%	$141.5M	$323.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,483	+0.017%	$30.7M	$203.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,514.2	+0.053%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,462	−0.007%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,482	+0.016%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,473.6	+0.006%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,466.1	−0.003%	$30.3M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,463.2	−0.006%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,467	−0.002%	$60.4M	$337.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,466.8	−0.002%	$2.30B	$968.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,460.8	−0.009%	$45.5M	$226.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,478.7	+0.012%	—	$98.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,505	+0.042%	$131.8M	$5.70B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,489.3	+0.024%	$191.3M	$943.7M	100x	as long as short
BloFin BTC-USDT	+0.0184%	8h	86,473.9	+0.006%	$414.0M	$654.4M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0185% / S −0.0211%	1h	86,490.7	+0.026%	$15.2M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0198%	8h	86,500	+0.037%	$9.7M	$733.9M	6.4x	as long as short