Settings8H · net · $10k
Funding arb · Price arb /

BTC

all BTC markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 02:00 UTC+0.0069%/8h= +7.5% APRpaid last 24h +0.024%
Price spread now: HTX against dYdX+0.063%7-day average −0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$230.229% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.103%+$10 on $10k
Price spread, last 3 days (all we have)−0.123%−$12 · spread now +0.063%, 7d avg −0.026%
Together, before fees−0.020%−$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and HTX is 0.089% dearer against dYdX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.026%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongdYdX BTC-USD85,5420get 0.0000% / 1h39m 02s$16.7M$21.0M50x
ShortHTX BTC-USDT85,596.10.0069get 0.0069% / 8h6h 39m$2.27B$972.0M200x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

HTX against dYdX. 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

Funding earned
$14.39
Price spread: +0.063% → −0.026%
$8.93
Slippage, 4 orders
−$0.95
Fee dYdX: 5 bp × 2 orders
−$10
Fee HTX: 6 bp × 2 orders
−$12
Net
$0.37
Costs to cover
0.229%
Break-even
6.8 days
Slippage from dYdX: live order book, just now; HTX: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy dYdX live order book, just now0.29 bp5.5 bp −$510.2 bp −$10216.0 bp −$1,59919.8 bp −$9,915
Sell HTX live order book, 5 min ago0.01 bp6.0 bp −$66.0 bp −$607.5 bp −$74910.5 bp −$5,274

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0144%1h85,678+0.159%$2.2M$10.5M40xas long as short
Hotstuff BTC-PERP−0.0080%1h85,478−0.075%$8K$3K50xas long as short
BloFin BTC-USDT−0.0078%8h85,853+0.364%$415.8M$658.2M150xas long as short
01 Exchange BTCUSD−0.0056%1h85,528−0.016%$363K$2.3M50xas long as short
dYdX BTC-USDlong0.0000%1h85,542long leg$16.7M$21.0M50x
Perpl BTC0.0000%43m85,594.8+0.062%$516K$21.1M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h85,616.9+0.088%$36.6M200xas long as short
Injective BTC/USDC PERP+0.0020%1h85,573+0.036%$340K$26.9M52xas long as short
Aster BTCUSDT+0.0032%8h85,608.9+0.078%$496.5M$1.14B200xas long as short
KuCoin XBTUSDTM+0.0038%8h85,594.3+0.061%$897.1M$757.5M125xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
RISEx BTC/USDC+0.0044%1h85,550.8+0.010%$7.9M$42.7M25xas long as short
BingX BTC-USDT+0.0054%8h85,617.9+0.089%$1.59Bas long as short
Reya BTCRUSDPERP+0.0055%1h85,595.6+0.063%$6.7M$146.2M40xas long as short
Bitget BTCUSDT+0.0068%8h85,577.2+0.041%$2.94B$5.17B150xas long as short
HTX BTC-USDTshort+0.0069%8h85,596.1+0.063%$2.27B$972.0M200x
Gate BTC_USDT+0.0074%8h85,612.2+0.082%$5.61B$10.44B200xas long as short
Aevo BTC-PERP+0.0080%1h85,604.7+0.073%$2.5M$1.8M20xas long as short
Nado BTC-PERP+0.0081%1h85,548.8+0.008%$22.7M$230.4M50xas long as short
MEXC BTC_USDT+0.0086%8h85,582+0.047%$5.07B$5.70B500xas long as short
Binance BTCUSDT+0.0087%8h85,600.8+0.069%$9.31B$24.72B150xas long as short
Lighter BTC+0.0096%1h85,622.1+0.094%$169.3M$983.9M50xas long as short
Lighter RH BTC+0.0096%1h85,627.2+0.100%$23.1M$145.7M50xas long as short
Popdex BTCUSDT+0.0096%1h85,536−0.007%$8.4M$52.6M100xas long as short
Katana Perps BTC-USD+0.0100%8h85,510−0.037%$205K$7.5M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,587.5+0.053%$3.8M$8.6M50xas long as short
Hyperliquid BTC+0.0100%1h85,675+0.156%$3.77B$4.98B40xas long as short
Pacifica BTC+0.0100%1h85,581.3+0.046%$40.7M$569.7M50xas long as short
Bybit BTCUSDT+0.0100%8h85,595.5+0.063%$5.27B$9.89B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,570.9+0.034%$2.53B$12.58B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h85,535−0.008%$3.9M$17.9M25xas long as short
Arcus BTC-USD+0.0100%1h85,523.5−0.022%$7.3M$98.5M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,604+0.073%$35.1M$163.6M75xas long as short
Variational Omni BTC+0.0100%8h85,634.2+0.108%$157.4M$554.3Mas long as short
edgeX BTCUSDC+0.0100%4h85,806+0.309%$278.1M$938.4M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,648.7+0.125%$215.0M$166.7M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h85,842.7+0.352%$140.4M$321.1M100xas long as short
StandX BTC-USD+0.0100%1h85,444−0.115%$30.2M$208.2M40xas long as short
Vest BTC-PERP+0.0100%1h85,628.2+0.101%$11.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,595+0.062%$11.0M$14.3M50xas long as short
Bullet BTC-USD+0.0100%1h85,603.2+0.072%$191K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,604.2+0.073%$2.4M$9.1M100xas long as short
Bluefin BTC-PERP+0.0100%1h85,647.2+0.123%$186K$709K40xas long as short
Derive BTC-PERP+0.0100%1h85,617.4+0.088%$30.0M$57.4M15xas long as short
SunX BTC-USDT+0.0100%8h85,564.5+0.026%$2.9M$6.6M100xas long as short
SoDEX BTC-USD+0.0100%1h85,617+0.088%$59.9M$337.7M40xas long as short
Phemex BTCUSDT+0.0100%8h85,611.4+0.081%$153.7M$481.5M150xas long as short
Bulk BTC-USD+0.0100%1h85,804.9+0.307%$582.3M$118.5M40xas long as short
Extended BTC-USD+0.0104%1h85,561.5+0.023%$44.7M$228.0M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h85,548.4+0.008%$102.7M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h85,632.2+0.105%$130.7M$5.27B50xas long as short
Hibachi BTC/USDT-P+0.0136%1h85,448.1−0.110%$696K$7.9M30xas long as short
Deribit BTC-PERPETUAL+0.0146%1h85,654.1+0.131%$893.5M$1.55B50xas long as short
Kraken Futures PF_XBTUSD+0.0146%1h85,639.2+0.114%$187.8M$973.8M100xas long as short
Aftermath Perps BTCUSD+0.0151%1h85,699.2+0.184%$78K$219K20xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0204% / S −0.0192%1h85,605.7+0.074%$13.6M200xas long as short
Kalshi KXBTCPERP+0.0206%8h85,587+0.053%$10.2M$771.6M6.4xas long as short