Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h −0.012%

Price spread now: 01 Exchange against Gate−0.006%7-day average −0.001% · 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−$24as in the Price arb table

costs, in and out, $10k−$240.238% of the position

Long on Gate Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.054%−$5 on $10k

Price spread, last 7 days+0.027%+$3 · spread now −0.006%, 7d avg −0.001%

Together, before fees−0.028%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BTC_USDT	86,397.8	0.0079	pay 0.0079% / 8h	1h 14m	$5.84B	$10.74B	200x
Short	01 Exchange BTCUSD	86,392.3	−0.0016	pay 0.0002% / 1h	14m 53s	$360K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against Gate. 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 GatebpFee 01 ExchangebpOrdersPrice spread, now −0.006%Rate

Funding earned: −$19.95
Price spread: −0.006% → −0.001%: −$0.55
Slippage, 4 orders: −$1.83
Fee Gate: 7.5 bp × 2 orders: −$15
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$44.33
Costs to cover: 0.238%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; 01 Exchange: live order book, 4 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 Gate live order book, 4 min ago	0.01 bp	7.5 bp −$8	7.5 bp −$75	7.7 bp −$770	13.4 bp −$6,718
Sell 01 Exchange live order book, 4 min ago	0.01 bp	4.4 bp −$4	8.0 bp −$80	doesn't fit	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
Bluefin BTC-PERP	−0.0737%	1h	86,405.4	+0.009%	$140K	$620K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,402	+0.005%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,386	−0.014%	$9K	$3K	50x	as long as short
01 Exchange BTCUSDshort	−0.0016%	1h	86,392.3	−0.006%	$360K	$2.4M	50x
Aster BTCUSDT	−0.0010%	8h	86,392.2	−0.006%	$503.6M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,407.4	+0.011%	$421K	$23.7M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,428.1	+0.035%	$918.2M	$1.49B	50x	as long as short
KuCoin XBTUSDTM	+0.0003%	8h	86,392.8	−0.006%	$852.0M	$712.3M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,406.7	+0.010%	$36.8M	—	200x	as long as short
dYdX BTC-USD	+0.0005%	1h	86,406.9	+0.011%	$17.0M	$21.1M	50x	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	86,390.8	−0.008%	$8.4M	$42.8M	25x	as long as short
Aftermath Perps BTCUSD	+0.0022%	1h	86,465.2	+0.078%	$81K	$218K	20x	as long as short
Reya BTCRUSDPERP	+0.0023%	1h	86,374.9	−0.027%	$6.7M	$145.0M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.187%	$315K	$26.8M	52x	as long as short
BingX BTC-USDC	+0.0036%	8h	86,380.7	−0.020%	—	$15.3M	—	as long as short
Phemex BTCUSDT	+0.0040%	8h	86,396.9	−0.001%	$150.0M	$477.0M	150x	as long as short
Bitget BTCUSDT	+0.0046%	8h	86,386.1	−0.014%	$2.95B	$5.10B	150x	as long as short
MEXC BTC_USDT	+0.0063%	8h	86,392.2	−0.006%	$5.14B	$5.70B	500x	as long as short
Binance BTCUSDT	+0.0064%	8h	86,394.3	−0.004%	$9.42B	$24.43B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,383.8	−0.016%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDTlong	+0.0079%	8h	86,397.8	long leg	$5.84B	$10.74B	200x
Bybit BTCUSDT	+0.0093%	8h	86,400	+0.003%	$5.25B	$9.78B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,403.9	+0.007%	$170.6M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,417.6	+0.023%	$24.1M	$152.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,385	−0.015%	$8.4M	$52.4M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,372	−0.030%	$201K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,422.9	+0.029%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,387.6	−0.012%	$21.8M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,460	+0.072%	$3.80B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,425.5	+0.032%	$40.7M	$513.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,399.4	+0.002%	$2.54B	$12.72B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,398	0.000%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,454.4	+0.066%	$7.8M	$94.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,498.7	+0.117%	$571.7M	$18.6M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,391.9	−0.007%	$37.8M	$155.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,394.8	−0.004%	$155.5M	$568.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,426.9	+0.034%	$279.3M	$949.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,418.2	+0.024%	$217.1M	$176.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,418.4	+0.024%	$141.3M	$323.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,402.9	+0.006%	$30.7M	$203.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,441.2	+0.050%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,385	−0.015%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,385.1	−0.015%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,390.5	−0.008%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,389.1	−0.010%	$30.6M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,382.8	−0.017%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,397	−0.001%	$60.4M	$337.3M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,382.6	−0.018%	$2.29B	$968.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,366.9	−0.036%	$45.5M	$226.2M	50x	as long as short
Hibachi BTC/USDT-P	+0.0104%	1h	86,454.5	+0.066%	$719K	$8.1M	30x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,407.2	+0.011%	—	$98.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,438	+0.047%	$131.4M	$5.69B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,422.3	+0.028%	$191.2M	$943.8M	100x	as long as short
BloFin BTC-USDT	+0.0184%	8h	86,397	−0.001%	$414.4M	$653.6M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0186% / S −0.0212%	1h	86,397.1	−0.001%	$15.2M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0199%	8h	86,420	+0.026%	$9.7M	$734.3M	6.4x	as long as short