Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0069%/8h= −7.6% APRpaid last 24h −0.017%

Price spread now: KuCoin against Polymarket Perps−0.006%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$200.204% of the position

Long on Polymarket Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 7 days+0.006%+$1 · spread now −0.006%, 7d avg +0.009%

Together, before fees−0.097%−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BTC-USD	85,655	0.0100	pay 0.0013% / 1h	17m 17s	$11.0M	$14.2M	50x
Short	KuCoin XBTUSDTM	85,649.9	0.0031	get 0.0031% / 8h	6h 17m	$900.5M	$753.5M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Polymarket 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 Polymarket PerpsbpFee KuCoinbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$14.49
Price spread: −0.006% → +0.009%: −$1.53
Slippage, 4 orders: −$0.42
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$36.45
Costs to cover: 0.204%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; KuCoin: live order book, 2 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 Polymarket Perps live order book, 2 min ago	0.06 bp	4.4 bp −$4	5.2 bp −$52	8.1 bp −$814	doesn't fit
Sell KuCoin live order book, 2 min ago	0.01 bp	6.0 bp −$6	7.2 bp −$72	9.9 bp −$987	doesn't fit

BTC on 55 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	85,785	+0.152%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,660	+0.006%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,632.6	−0.026%	$362K	$2.3M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,692.4	+0.044%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,673.6	+0.022%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	+0.042%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTMshort	+0.0031%	8h	85,649.9	−0.006%	$900.5M	$753.5M	125x
Aster BTCUSDT	+0.0033%	8h	85,630.4	−0.029%	$515.8M	$1.14B	200x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,667.3	+0.014%	$8.2M	$42.1M	25x	as long as short
Nado BTC-PERP	+0.0044%	1h	85,663.2	+0.010%	$22.6M	$227.4M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0056%	8h	85,648.2	−0.008%	—	$17.1M	—	as long as short
Reya BTCRUSDPERP	+0.0059%	1h	85,635.1	−0.023%	$6.7M	$146.3M	40x	as long as short
HTX BTC-USDT	+0.0061%	8h	85,652.2	−0.003%	$2.27B	$947.6M	200x	as long as short
Bitget BTCUSDT	+0.0070%	8h	85,659.5	+0.005%	$2.95B	$5.08B	150x	as long as short
Binance BTCUSDT	+0.0091%	8h	85,660.3	+0.006%	$9.33B	$24.29B	150x	as long as short
ApeX Omni BTCUSDT	+0.0091%	1h	85,637.3	−0.021%	$140.0M	$318.1M	100x	as long as short
MEXC BTC_USDT	+0.0092%	8h	85,660	+0.006%	$5.08B	$5.74B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,671.9	+0.020%	$170.5M	$992.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,681.4	+0.031%	$23.5M	$147.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,636	−0.022%	$8.4M	$51.9M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,655.3	0.000%	$2.5M	$1.8M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,616	−0.046%	$202K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,637.8	−0.020%	$3.8M	$8.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,707	+0.061%	$3.76B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,692	+0.043%	$40.8M	$571.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,673.6	+0.022%	$5.31B	$9.74B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,672.8	+0.021%	$2.54B	$12.34B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,652	−0.004%	$3.9M	$18.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,616	−0.046%	$7.2M	$97.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,744.8	+0.105%	$590.5M	$195.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,666.7	+0.014%	$5.59B	$10.57B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,649.4	−0.007%	$35.2M	$165.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,688	+0.039%	$156.6M	$555.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,614.3	−0.048%	$278.4M	$941.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,656.6	+0.002%	$214.9M	$164.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,624.3	−0.036%	$30.3M	$208.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,702.1	+0.055%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USDlong	+0.0100%	1h	85,655	long leg	$11.0M	$14.2M	50x
Bullet BTC-USD	+0.0100%	1h	85,663	+0.009%	$187K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,656.2	+0.001%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,701.5	+0.054%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,661.5	+0.008%	$30.0M	$56.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,628.8	−0.031%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,660	+0.006%	$60.0M	$337.0M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,668	+0.015%	$153.3M	$480.8M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,643.1	−0.014%	$44.0M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,652.6	−0.003%	—	$101.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,704	+0.057%	$131.2M	$5.15B	50x	as long as short
Hibachi BTC/USDT-P	+0.0144%	1h	85,671.4	+0.019%	$694K	$7.8M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,692.5	+0.044%	$187.9M	$963.6M	100x	as long as short
Aftermath Perps BTCUSD	+0.0171%	1h	85,703	+0.056%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0189%	1h	85,670.8	+0.018%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,676	+0.025%	$10.3M	$770.1M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0219%	1h	85,710.9	+0.065%	$894.7M	$1.54B	50x	as long as short
Perpl BTC	+0.0447%	43m	85,666.2	+0.013%	$513K	$20.5M	6.7x	as long as short