Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Vest against Polymarket Perps+0.066%7-day average +0.017% · you sell dearer than you buy

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

Long on Polymarket Perps Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.037%−$4 on $10k

Price spread, last 7 days−0.065%−$6 · spread now +0.066%, 7d avg +0.017%

Together, before fees−0.102%+ Points / potential airdropVest: Active · farm board−$10 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: Vest is 0.049% dearer against Polymarket Perps than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BTC-USD	85,647	0.0100	pay 0.0013% / 1h	18m 58s	$11.0M	$14.3M	50x
Short	Vest BTC-PERP	85,703.3	0.0100	get 0.0013% / 1h	18m 58s	—	$11.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Polymarket Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpOrdersPrice spread, now +0.066%Rate

Funding earned: $0
Price spread: +0.066% → +0.017%: $4.86
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Vest: 1 bp × 2 orders: −$2
Net: −$5.14
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 5 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 Polymarket Perps live order book, 5 min ago	0.06 bp	4.1 bp −$4	4.5 bp −$45	7.4 bp −$743	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 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	+0.161%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,657	+0.012%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,632.6	−0.017%	$365K	$2.3M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,641.5	−0.006%	$16.7M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,652.9	+0.007%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	+0.051%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0031%	8h	85,676.6	+0.035%	$901.7M	$753.7M	125x	as long as short
Aster BTCUSDT	+0.0036%	8h	85,675.7	+0.034%	$516.1M	$1.14B	200x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,659	+0.014%	$8.1M	$42.1M	25x	as long as short
Nado BTC-PERP	+0.0049%	1h	85,635.3	−0.014%	$22.6M	$227.5M	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-USDT	+0.0056%	8h	85,701.4	+0.064%	—	$1.56B	—	as long as short
Reya BTCRUSDPERP	+0.0059%	1h	85,648.7	+0.002%	$6.7M	$146.3M	40x	as long as short
Bitget BTCUSDT	+0.0069%	8h	85,689.3	+0.049%	$2.95B	$5.08B	150x	as long as short
HTX BTC-USDT	+0.0070%	8h	85,643	−0.005%	$2.27B	$947.8M	200x	as long as short
ApeX Omni BTCUSDT	+0.0086%	1h	85,712.3	+0.076%	$140.1M	$318.2M	100x	as long as short
Binance BTCUSDT	+0.0092%	8h	85,694.9	+0.056%	$9.33B	$24.30B	150x	as long as short
MEXC BTC_USDT	+0.0093%	8h	85,689.9	+0.050%	$5.08B	$5.74B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,656.4	+0.011%	$170.4M	$992.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,665.9	+0.022%	$23.5M	$147.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,634	−0.015%	$8.4M	$51.8M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,643.2	−0.004%	$2.5M	$1.8M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,609	−0.044%	$202K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,607.7	−0.046%	$3.8M	$8.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,739	+0.107%	$3.76B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,668.1	+0.025%	$40.8M	$571.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,704.4	+0.067%	$5.30B	$9.74B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,709	+0.072%	$2.54B	$12.35B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,645	−0.002%	$3.9M	$18.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,602.7	−0.052%	$7.2M	$97.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,744.8	+0.114%	$590.5M	$195.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,697.6	+0.059%	$5.60B	$10.56B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,670.1	+0.027%	$35.3M	$164.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,688	+0.048%	$156.6M	$555.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,709.8	+0.073%	$278.8M	$940.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,761.2	+0.133%	$215.2M	$166.3M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,664.6	+0.021%	$30.3M	$208.7M	40x	as long as short
Vest BTC-PERPshort	+0.0100%	1h	85,703.3	+0.066%	—	$11.8M	50x
Polymarket Perps BTC-USDlong	+0.0100%	1h	85,647	long leg	$11.0M	$14.3M	50x
Bullet BTC-USD	+0.0100%	1h	85,634.9	−0.014%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,644.7	−0.003%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,683	+0.042%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,650	+0.004%	$30.0M	$56.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,605.9	−0.048%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,653	+0.007%	$60.0M	$337.1M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,655.6	+0.010%	$153.6M	$480.3M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,666.9	+0.023%	$44.1M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,649.2	+0.003%	—	$101.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,685.1	+0.044%	$131.3M	$5.15B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,755.4	+0.127%	$696K	$7.8M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,678	+0.036%	$187.8M	$963.6M	100x	as long as short
Aftermath Perps BTCUSD	+0.0169%	1h	85,716.5	+0.081%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0189%	1h	85,643.3	−0.004%	$13.5M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0209%	1h	85,698.9	+0.061%	$894.6M	$1.54B	50x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,663	+0.019%	$10.2M	$770.2M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,671.5	+0.029%	$514K	$20.5M	6.7x	as long as short