Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Ondo Perps against StandX+0.055%7-day average +0.018% · you sell dearer than you buy

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

Long on StandX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 7 days−0.160%−$16 · spread now +0.055%, 7d avg +0.018%

Together, before fees−0.138%+ Points / potential airdropStandX: Active · Ondo Perps: Active · farm board−$14 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: Ondo Perps is 0.037% dearer against StandX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX BTC-USD	85,287.3	0.0100	pay 0.0013% / 1h	28m 52s	$30.1M	$203.6M	40x
Short	Ondo Perps BTC-USD.P	85,334	0.0100	get 0.0013% / 1h	28m 52s	$3.8M	$17.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against StandX. 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 StandXbpFee Ondo PerpsbpOrdersPrice spread, now +0.055%Rate

Funding earned: $0
Price spread: +0.055% → +0.018%: $3.65
Slippage, 4 orders: no order book: not counted
Fee StandX: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$9.35
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: StandX: live order book, 5 min ago; Ondo Perps: 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 StandX live order book, 5 min ago	0.88 bp	6.6 bp −$7	7.5 bp −$75	8.3 bp −$828	9.9 bp −$4,931
Sell Ondo Perps no order-book sample	—	—	—	—	—

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 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	85,329	+0.049%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,332	+0.052%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0045%	8h	85,307.2	+0.023%	$927.7M	$773.7M	125x	as long as short
BloFin BTC-USDT	−0.0029%	8h	85,312.1	+0.029%	$421.0M	$682.8M	150x	as long as short
Aster BTCUSDT	−0.0012%	8h	85,312.4	+0.029%	$512.6M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,351	+0.075%	$353K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,335.1	+0.056%	$493K	$18.5M	6.7x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,282.8	−0.005%	$16.7M	$21.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,312.4	+0.029%	$36.5M	—	200x	as long as short
Nado BTC-PERP	+0.0042%	1h	85,326.4	+0.046%	$24.4M	$222.4M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0057%	1h	85,247	−0.047%	$338K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0070%	8h	85,319.2	+0.037%	—	$1.56B	—	as long as short
Deribit BTC-PERPETUAL	+0.0081%	1h	85,356.6	+0.081%	$862.2M	$1.64B	50x	as long as short
ApeX Omni BTCUSDT	+0.0083%	1h	85,306.3	+0.022%	$139.5M	$314.2M	100x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,311.2	+0.028%	$2.4M	$6.7M	20x	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,325.1	+0.044%	$185.5M	$958.1M	100x	as long as short
Bitget BTCUSDT	+0.0089%	8h	85,320.2	+0.039%	$2.96B	$5.17B	150x	as long as short
MEXC BTC_USDT	+0.0091%	8h	85,313.9	+0.031%	$5.01B	$5.75B	500x	as long as short
Binance BTCUSDT	+0.0091%	8h	85,317.6	+0.035%	$9.42B	$24.95B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,326.1	+0.045%	$170.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,329.7	+0.050%	$23.5M	$148.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,337	+0.058%	$8.4M	$56.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,315	+0.032%	$236K	$8.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,312.8	+0.030%	$5.14B	$9.98B	150x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,398.1	+0.130%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,393	+0.124%	$3.74B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,363.8	+0.090%	$39.9M	$602.6M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,330.6	+0.051%	$2.59B	$12.24B	100x	as long as short
Ondo Perps BTC-USD.Pshort	+0.0100%	1h	85,334	+0.055%	$3.8M	$17.1M	25x
Arcus BTC-USD	+0.0100%	1h	85,333	+0.054%	$5.2M	$99.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,323.4	+0.042%	$5.54B	$11.01B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,308.2	+0.024%	$37.0M	$178.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,275.8	−0.013%	$154.7M	$557.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,267.5	−0.023%	$279.4M	$951.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,293.3	+0.007%	$214.1M	$165.1M	50x	as long as short
StandX BTC-USDlong	+0.0100%	1h	85,287.3	long leg	$30.1M	$203.6M	40x
Vest BTC-PERP	+0.0100%	1h	85,384.1	+0.113%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,329	+0.049%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,315	+0.032%	$202K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,319.1	+0.037%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,357.3	+0.082%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,214.5	−0.085%	$29.9M	$47.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,318	+0.036%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,313	+0.030%	$59.7M	$336.8M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,316.8	+0.035%	$2.26B	$967.7M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,327.7	+0.047%	$151.9M	$509.9M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,269.9	−0.020%	$683.1M	$415.1M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,297.2	+0.012%	$44.8M	$240.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,338.6	+0.060%	—	$106.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,349.6	+0.073%	$116.1M	$5.46B	50x	as long as short
Reya BTCRUSDPERP	+0.0129%	1h	85,307.5	+0.024%	$6.6M	$147.6M	40x	as long as short
Kalshi KXBTCPERP	+0.0183%	8h	85,348	+0.071%	$11.7M	$740.8M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,315.9	+0.033%	$8.8M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0200% / S −0.0176%	1h	85,308.5	+0.025%	$13.1M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,332.6	+0.053%	$685K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0257%	1h	85,309.6	+0.026%	$79K	$230K	20x	as long as short