Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0147%/8h= +16.1% APRpaid last 24h +0.017%

Price spread now: Vest against KuCoin+0.125%50s7-day average +0.010% · you sell dearer than you buy

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

Long on KuCoin Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.022%+$2 on $10k

Price spread, last 7 days−0.125%−$13 · spread now +0.125%, 7d avg +0.010%

Together, before fees−0.103%+ Points / potential airdropVest: Active · farm board−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Vest is 0.115% dearer against KuCoin than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.010%. The two prices were read 50 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	KuCoin XBTUSDTM	85,219.5	−0.0047	get 0.0047% / 8h	1h 39m	$927.1M	$773.7M	125x
Short	Vest BTC-PERP	85,325.7	0.0100	get 0.0013% / 1h	39m 44s	—	$10.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against KuCoin. 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 KuCoinbpFee VestbpOrdersPrice spread, now +0.125%Rate

Funding earned: $30.87
Price spread: +0.125% → +0.010%: $11.48
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: $28.35
Costs to cover: 0.140%
Break-even: 0.6 days

Slippage unknown: KuCoin: live order book, 9 min ago; Vest: 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 KuCoin live order book, 9 min ago	0.01 bp	6.0 bp −$6	6.5 bp −$65	8.5 bp −$853	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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
Phoenix BTC	−0.0082%	1h	85,287	+0.079%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,272	+0.062%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTMlong	−0.0047%	8h	85,219.5	long leg	$927.1M	$773.7M	125x
BloFin BTC-USDT	−0.0027%	8h	85,277.1	+0.068%	$421.2M	$684.0M	150x	as long as short
Aster BTCUSDT	−0.0012%	8h	85,224.9	+0.006%	$512.1M	$1.09B	200x	as long as short
dYdX BTC-USD	0.0000%	1h	85,277	+0.067%	$16.7M	$21.4M	50x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,273.5	+0.063%	$354K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,274.4	+0.064%	$532K	$18.4M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,254	+0.040%	$36.4M	—	200x	as long as short
ApeX Omni BTCUSDT	+0.0042%	1h	85,293.8	+0.087%	$139.5M	$314.4M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0046%	1h	85,260.3	+0.048%	$24.4M	$222.8M	50x	as long as short
Injective BTC/USDC PERP	+0.0057%	1h	85,334	+0.134%	$339K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0070%	8h	85,229	+0.011%	—	$1.56B	—	as long as short
Bitget BTCUSDT	+0.0088%	8h	85,228.2	+0.010%	$2.95B	$5.18B	150x	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,244.9	+0.030%	$186.0M	$956.4M	100x	as long as short
MEXC BTC_USDT	+0.0092%	8h	85,222.6	+0.004%	$5.01B	$5.74B	500x	as long as short
Binance BTCUSDT	+0.0093%	8h	85,222.2	+0.003%	$9.42B	$24.97B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,235.9	+0.019%	$169.9M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,242.7	+0.027%	$23.5M	$147.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,252	+0.038%	$8.4M	$56.1M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,226.4	+0.008%	$2.4M	$6.7M	20x	as long as short
SoDEX BTC-USD	+0.0097%	1h	85,233	+0.016%	$59.6M	$336.9M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,225	+0.006%	$236K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,288.2	+0.081%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,299	+0.093%	$3.74B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,261.2	+0.049%	$40.2M	$604.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,225.6	+0.007%	$5.14B	$10.00B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,236.3	+0.020%	$2.59B	$12.25B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,223	+0.004%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,230.9	+0.013%	$4.9M	$99.3M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,278.8	+0.070%	$682.9M	$449.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,230.1	+0.012%	$5.50B	$10.99B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,231.6	+0.014%	$36.7M	$178.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,253.8	+0.040%	$154.6M	$558.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,231.5	+0.014%	$279.3M	$953.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,325.3	+0.124%	$214.2M	$166.5M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,279.2	+0.070%	$30.1M	$204.4M	40x	as long as short
Vest BTC-PERPshort	+0.0100%	1h	85,325.7	+0.125%	—	$10.9M	50x
Polymarket Perps BTC-USD	+0.0100%	1h	85,254	+0.040%	$11.0M	$14.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,240	+0.024%	$201K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,246.1	+0.031%	$2.6M	$9.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,274.2	+0.064%	$193K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,216	−0.004%	$29.9M	$47.8M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,250.9	+0.037%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,241.1	+0.025%	$2.25B	$969.8M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,251.9	+0.038%	$150.7M	$508.9M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,205.4	−0.017%	$44.8M	$240.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,282.5	+0.074%	—	$107.1M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,270.9	+0.060%	$117.2M	$5.46B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0121%	1h	85,274.6	+0.065%	$868.8M	$1.64B	50x	as long as short
Reya BTCRUSDPERP	+0.0126%	1h	85,239.4	+0.023%	$6.6M	$147.6M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0152%	1h	85,253	+0.039%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0191%	8h	85,278	+0.069%	$11.7M	$742.8M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,259.6	+0.047%	$8.7M	$43.1M	25x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,320.6	+0.119%	$685K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0257%	1h	85,311.9	+0.108%	$79K	$229K	20x	as long as short