Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h −0.014%

Price spread now: edgeX against RISEx+0.285%55s7-day average −0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$160.163% of the position

Long on RISEx Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.141%−$14 on $10k

Price spread, last 7 days−0.330%−$33 · spread now +0.285%, 7d avg −0.047%

Together, before fees−0.471%+ Points / potential airdropedgeX: Active · farm board−$47 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and edgeX is 0.332% dearer against RISEx than usual: you sell high and buy low: +$33 more if the spread goes back to its 7-day average of −0.047%. Mind the row above: over the last 3 days funding on this pair cost −0.141%, so the current rate has only just turned in your favour. The two prices were read 55 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	RISEx BTC/USDC	85,561.9	0.0044	pay 0.0006% / 1h	38m 23s	$7.9M	$42.6M	25x
Short	edgeX BTCUSDC	85,806	0.0100	get 0.0050% / 4h	2h 38m	$278.1M	$938.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against RISEx. 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 RISExbpFee edgeXbpOrdersPrice spread, now +0.285%Rate

Funding earned: $11.74
Price spread: +0.285% → −0.047%: $33.2
Slippage, 4 orders: −$1.35
Fee RISEx: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $28.59
Costs to cover: 0.163%
Break-even: from the start

Slippage from RISEx: live order book, 1 min ago; edgeX: live order book, 1 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 RISEx live order book, 1 min ago	0.01 bp	4.2 bp −$4	4.3 bp −$43	13.3 bp −$1,330	doesn't fit
Sell edgeX live order book, 1 min ago	0.04 bp	4.5 bp −$5	5.2 bp −$52	5.4 bp −$544	6.7 bp −$3,332

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	−0.0144%	1h	85,678	+0.136%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,584	+0.026%	$8K	$3K	50x	as long as short
BloFin BTC-USDT	−0.0078%	8h	85,853	+0.340%	$415.8M	$658.2M	150x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,529.7	−0.038%	$363K	$2.3M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,596.8	+0.041%	$16.8M	$21.0M	50x	as long as short
Perpl BTC	0.0000%	43m	85,589.7	+0.033%	$516K	$21.1M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,532.6	−0.034%	$36.5M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,573	+0.013%	$340K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0035%	8h	85,544.3	−0.020%	$496.2M	$1.14B	200x	as long as short
KuCoin XBTUSDTM	+0.0038%	8h	85,523.4	−0.045%	$898.9M	$759.3M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDClong	+0.0044%	1h	85,561.9	long leg	$7.9M	$42.6M	25x
BingX BTC-USDT	+0.0054%	8h	85,520	−0.049%	—	$1.59B	—	as long as short
Reya BTCRUSDPERP	+0.0055%	1h	85,552.9	−0.010%	$6.7M	$146.1M	40x	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,549.3	−0.015%	$2.94B	$5.16B	150x	as long as short
HTX BTC-USDT	+0.0069%	8h	85,596.1	+0.040%	$2.27B	$972.0M	200x	as long as short
Gate BTC_USDT	+0.0076%	8h	85,565.7	+0.004%	$5.60B	$10.46B	200x	as long as short
Nado BTC-PERP	+0.0078%	1h	85,567.1	+0.006%	$22.7M	$230.6M	50x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,604.7	+0.050%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,558.7	−0.004%	$5.07B	$5.70B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,526.9	−0.041%	$9.30B	$24.70B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,575.7	+0.016%	$169.4M	$984.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,582.5	+0.024%	$23.1M	$145.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,551	−0.013%	$8.4M	$52.6M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,524	−0.044%	$206K	$7.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,605.4	+0.051%	$3.8M	$8.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,623	+0.071%	$3.76B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,594.3	+0.038%	$40.7M	$569.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,519.7	−0.049%	$5.27B	$9.90B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,557.3	−0.005%	$2.53B	$12.54B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,539	−0.027%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,535.2	−0.031%	$7.3M	$98.6M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,604	+0.049%	$35.1M	$163.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,634.2	+0.085%	$157.4M	$554.3M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	85,806	+0.285%	$278.1M	$938.4M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,648.7	+0.102%	$215.0M	$166.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,842.7	+0.328%	$140.4M	$321.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,444	−0.138%	$30.2M	$208.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,615.6	+0.063%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,554	−0.009%	$11.0M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,536	−0.030%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,604.2	+0.049%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,647.2	+0.100%	$186K	$709K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,617.4	+0.065%	$30.0M	$57.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,564.5	+0.003%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,617	+0.064%	$59.9M	$337.7M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,611.4	+0.058%	$153.7M	$481.5M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,804.9	+0.284%	$582.3M	$118.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,547.3	−0.017%	$44.7M	$228.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,580.3	+0.021%	—	$102.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,632.2	+0.082%	$130.7M	$5.27B	50x	as long as short
Hibachi BTC/USDT-P	+0.0128%	1h	85,634.1	+0.084%	$697K	$7.9M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0146%	1h	85,654.1	+0.108%	$893.5M	$1.55B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,639.2	+0.090%	$187.8M	$973.8M	100x	as long as short
Aftermath Perps BTCUSD	+0.0152%	1h	85,680.4	+0.139%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0192%	1h	85,526.6	−0.041%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0206%	8h	85,587	+0.029%	$10.2M	$771.6M	6.4x	as long as short