Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h +0.014%

Price spread now: RISEx against edgeX−0.285%55s7-day average +0.047% · 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—prices read too far apart to compare

costs, in and out, $10k−$160.164% of the position

Long on edgeX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.141%+$14 on $10k

Price spread, last 7 days+0.329%+$33 · spread now −0.285%, 7d avg +0.047%

Together, before fees+0.470%+ Points / potential airdropedgeX: Active · farm board+$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and RISEx is 0.331% cheaper against edgeX than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of +0.047%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.141%, so the current rate has only just turned against you. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BTCUSDC	85,806	0.0100	pay 0.0050% / 4h	2h 38m	$278.1M	$938.4M	100x
Short	RISEx BTC/USDC	85,561.9	0.0044	get 0.0006% / 1h	38m 34s	$7.9M	$42.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against edgeX. 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 edgeXbpFee RISExbpOrdersPrice spread, now −0.285%Rate

Funding earned: −$11.74
Price spread: −0.285% → +0.047%: −$33.11
Slippage, 4 orders: −$1.43
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$61.29
Costs to cover: 0.164%
Break-even: never at this rate

Slippage from edgeX: live order book, 1 min ago; RISEx: live order book, 6 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 edgeX live order book, 1 min ago	0.04 bp	4.5 bp −$5	4.5 bp −$45	4.6 bp −$461	5.9 bp −$2,967
Sell RISEx live order book, 6 min ago	0.01 bp	4.4 bp −$4	4.6 bp −$46	12.1 bp −$1,214	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	−0.0144%	1h	85,678	−0.149%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,584	−0.259%	$8K	$3K	50x	as long as short
BloFin BTC-USDT	−0.0078%	8h	85,853	+0.055%	$415.8M	$658.2M	150x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,529.7	−0.322%	$363K	$2.3M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,596.8	−0.244%	$16.8M	$21.0M	50x	as long as short
Perpl BTC	0.0000%	43m	85,594.8	−0.246%	$516K	$21.1M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,616.9	−0.220%	$36.6M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,573	−0.272%	$340K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0035%	8h	85,561.3	−0.285%	$496.3M	$1.14B	200x	as long as short
KuCoin XBTUSDTM	+0.0038%	8h	85,555.2	−0.292%	$896.7M	$759.3M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDCshort	+0.0044%	1h	85,561.9	−0.285%	$7.9M	$42.6M	25x
BingX BTC-USDC	+0.0054%	8h	85,555.4	−0.292%	—	$15.4M	—	as long as short
Reya BTCRUSDPERP	+0.0055%	1h	85,595.6	−0.245%	$6.7M	$146.2M	40x	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,559.7	−0.287%	$2.94B	$5.16B	150x	as long as short
HTX BTC-USDT	+0.0069%	8h	85,596.1	−0.245%	$2.27B	$972.0M	200x	as long as short
Gate BTC_USDT	+0.0076%	8h	85,565.7	−0.280%	$5.60B	$10.46B	200x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,604.7	−0.235%	$2.5M	$1.8M	20x	as long as short
Nado BTC-PERP	+0.0081%	1h	85,548.8	−0.300%	$22.7M	$230.4M	50x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,567.1	−0.278%	$5.07B	$5.70B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,564.6	−0.281%	$9.31B	$24.72B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,575.7	−0.268%	$169.4M	$984.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,582.5	−0.260%	$23.1M	$145.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,551	−0.297%	$8.4M	$52.6M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,524	−0.329%	$206K	$7.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,605.4	−0.234%	$3.8M	$8.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,632	−0.203%	$3.76B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,594.3	−0.247%	$40.7M	$569.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,578.4	−0.265%	$5.27B	$9.90B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,566.9	−0.279%	$2.53B	$12.55B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,539	−0.311%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,535.2	−0.316%	$7.3M	$98.6M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,604	−0.235%	$35.1M	$163.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,634.2	−0.200%	$157.4M	$554.3M	—	as long as short
edgeX BTCUSDClong	+0.0100%	4h	85,806	long leg	$278.1M	$938.4M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,648.7	−0.183%	$215.0M	$166.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,842.7	+0.043%	$140.4M	$321.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,444	−0.422%	$30.2M	$208.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,628.2	−0.207%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,595	−0.246%	$11.0M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,603.2	−0.236%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,604.2	−0.235%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,647.2	−0.185%	$186K	$709K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,617.4	−0.220%	$30.0M	$57.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,564.5	−0.281%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,617	−0.220%	$59.9M	$337.7M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,611.4	−0.227%	$153.7M	$481.5M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,804.9	−0.001%	$582.3M	$118.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,547.3	−0.302%	$44.7M	$228.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,548.4	−0.300%	—	$102.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,632.2	−0.203%	$130.7M	$5.27B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,448.1	−0.417%	$696K	$7.9M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0146%	1h	85,654.1	−0.177%	$893.5M	$1.55B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,639.2	−0.194%	$187.8M	$973.8M	100x	as long as short
Aftermath Perps BTCUSD	+0.0151%	1h	85,699.2	−0.124%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0192%	1h	85,605.7	−0.233%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0206%	8h	85,587	−0.255%	$10.2M	$771.6M	6.4x	as long as short