Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.010%

Price spread now: edgeX against Ondo Perps+0.036%54s7-day average −0.054% · you sell dearer than you buy

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

Long on Ondo Perps Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.240%−$24 on $10k

Price spread, last 7 days−0.059%−$6 · spread now +0.036%, 7d avg −0.054%

Together, before fees−0.299%+ Points / potential airdropOndo Perps: Active · edgeX: Active · farm board−$30 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.091% dearer against Ondo Perps than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.054%. The two prices were read 54 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	Ondo Perps BTC-USD.P	86,027	0.0100	pay 0.0013% / 1h	48m 27s	$4.0M	$15.0M	25x
Short	edgeX BTCUSDC	86,058.2	0.0100	get 0.0050% / 4h	1h 48m	$289.8M	$814.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Ondo Perps. 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 Ondo PerpsbpFee edgeXbpOrdersPrice spread, now +0.036%Rate

Funding earned: $0
Price spread: +0.036% → −0.054%: $9.06
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$4.94
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; edgeX: live order book, 4 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell edgeX live order book, 4 min ago	0.02 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$474	5.8 bp −$2,924

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 55 exchanges

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	−0.0133%	1h	86,126	+0.115%	$2.1M	$7.8M	40x	as long as short
ApeX Omni BTCUSDT	−0.0103%	1h	86,098.5	+0.083%	$137.8M	$295.3M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,197	+0.198%	$8K	$2K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,040.4	+0.016%	$362K	$2.0M	50x	as long as short
BloFin BTC-USDT	−0.0021%	8h	86,047.9	+0.024%	$422.6M	$563.8M	150x	as long as short
SoDEX BTC-USD	−0.0009%	1h	86,048	+0.024%	$65.9M	$187.9M	40x	as long as short
dYdX BTC-USD	0.0000%	1h	86,061.8	+0.040%	$16.9M	$14.5M	50x	as long as short
Perpl BTC	0.0000%	43m	86,079.4	+0.061%	$480K	$13.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,111.6	+0.098%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0009%	1h	86,114	+0.101%	$301K	$26.2M	52x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BTCUSDT	+0.0028%	8h	86,033.1	+0.007%	$512.9M	$874.0M	200x	as long as short
BingX BTC-USDT	+0.0028%	8h	86,042.3	+0.018%	—	$1.33B	—	as long as short
Kraken Futures PF_XBTUSD	+0.0029%	1h	86,068	+0.048%	$191.6M	$768.2M	100x	as long as short
Bybit BTCUSDT	+0.0039%	8h	86,043.3	+0.019%	$5.15B	$8.13B	150x	as long as short
KuCoin XBTUSDTM	+0.0054%	8h	86,038.6	+0.014%	$942.8M	$633.3M	125x	as long as short
Gate BTC_USDT	+0.0063%	8h	86,042.5	+0.018%	$5.51B	$8.89B	200x	as long as short
Popdex BTCUSDT	+0.0072%	1h	86,041	+0.016%	$8.5M	$45.6M	100x	as long as short
Phemex BTCUSDT	+0.0091%	8h	86,056.5	+0.034%	$170.6M	$478.8M	150x	as long as short
Bitget BTCUSDT	+0.0093%	8h	86,048	+0.024%	$2.99B	$3.96B	150x	as long as short
HTX BTC-USDT	+0.0095%	8h	86,050.5	+0.027%	$2.27B	$803.9M	200x	as long as short
Lighter BTC	+0.0096%	1h	86,051.7	+0.029%	$173.7M	$854.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,055.5	+0.033%	$23.4M	$119.1M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	86,028.9	+0.002%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0098%	8h	86,036.5	+0.011%	$5.16B	$4.83B	500x	as long as short
Binance BTCUSDT	+0.0098%	8h	86,036.4	+0.011%	$9.45B	$20.51B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,015	−0.014%	$218K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,089.2	+0.072%	$6.0M	$7.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,038.4	+0.013%	$23.5M	$195.5M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,077.5	+0.059%	$40.1M	$571.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,053	+0.030%	$2.62B	$9.49B	100x	as long as short
Ondo Perps BTC-USD.Plong	+0.0100%	1h	86,027	long leg	$4.0M	$15.0M	25x
Arcus BTC-USD	+0.0100%	1h	86,071.7	+0.052%	$4.2M	$90.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,169.3	+0.165%	$716.4M	$134.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,040.3	+0.015%	$38.2M	$195.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,070.8	+0.051%	$156.6M	$475.5M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	86,058.2	+0.036%	$289.8M	$814.4M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,097	+0.081%	$216.3M	$133.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	86,074.5	+0.055%	$30.3M	$223.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,099.5	+0.084%	—	$9.2M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,059	+0.037%	$11.1M	$12.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,048.1	+0.024%	$205K	$3.2M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,038.7	+0.014%	$2.6M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,087.2	+0.070%	$195K	$563K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,065.6	+0.045%	$3.3M	$6.7M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,012.4	−0.017%	$46.9M	$203.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	86,103.9	+0.089%	—	$81.6M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,104	+0.090%	$112.1M	$4.97B	50x	as long as short
Hyperliquid BTC	+0.0159%	1h	86,133	+0.123%	$3.97B	$4.36B	40x	as long as short
Kalshi KXBTCPERP	+0.0160%	8h	86,087	+0.070%	$12.0M	$733.5M	6.4x	as long as short
Reya BTCRUSDPERP	+0.0163%	1h	86,077.4	+0.059%	$6.6M	$131.1M	40x	as long as short
RISEx BTC/USDC	+0.0187%	1h	86,058.6	+0.037%	$8.9M	$37.0M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0211% / S −0.0251%	1h	86,101.2	+0.086%	$15.6M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0229%	1h	86,106.1	+0.092%	$822.7M	$1.50B	50x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	86,119	+0.107%	$725K	$7.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0443%	1h	86,126.9	+0.116%	$79K	$245K	20x	as long as short