Settings8H · net · $10k
Funding arb · Price arb /

BTC

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC+0.0103%/8h= +11.3% APRpaid last 24h +0.007%
Price spread now: Aftermath Perps against SunX+0.083%7-day average +0.033% · you sell dearer than you buy
Net, funding: paid 7d − costsunder 7 days of funding history
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$310.309% of the position
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.033%+$3 on $10k
Price spread, last 4 days (all we have)+0.042%+$4 · spread now +0.083%, 7d avg +0.033%
Together, before fees+0.075%+$8 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Aftermath Perps is 0.050% dearer against SunX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.033%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX BTC-USDT85,4500.0100pay 0.0100% / 8h4h 40m$2.9M$6.1M100x
ShortAftermath Perps BTCUSD85,521.20.0203get 0.0025% / 1h40m 49s$78K$219K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Aftermath Perps against SunX. 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

Funding earned
$21.68
Price spread: +0.083% → +0.033%
$4.99
Slippage, 4 orders
−$13.94
Fee SunX: 4 bp × 2 orders
−$8
Fee Aftermath Perps: 4.5 bp × 2 orders
−$9
Net
−$4.27
Costs to cover
0.309%
Break-even
8.4 days
Slippage from SunX: live order book, 8 min ago; Aftermath Perps: live order book, 18 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy SunX live order book, 8 min ago0.75 bp6.3 bp −$67.0 bp −$709.1 bp −$91412.7 bp −$6,326
Sell Aftermath Perps live order book, 18 min ago1.00 bp9.8 bp −$10doesn't fitdoesn't fitdoesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bluefin BTC-PERP−0.0434%1h85,519.1+0.081%$207K$738K40xas long as short
Phoenix BTC−0.0179%1h85,385−0.076%$2.2M$10.3M40xas long as short
Hotstuff BTC-PERP−0.0080%1h85,444−0.007%$8K$3K50xas long as short
01 Exchange BTCUSD−0.0048%1h85,441.7−0.010%$366K$2.3M50xas long as short
BloFin BTC-USDT−0.0031%8h85,454.3+0.005%$416.4M$665.7M150xas long as short
KuCoin XBTUSDTM−0.0007%8h85,473.7+0.028%$919.3M$750.3M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h85,481.7+0.037%$36.5M200xas long as short
Aster BTCUSDT+0.0011%8h85,484.3+0.040%$515.2M$1.10B200xas long as short
dYdX BTC-USD+0.0014%1h85,433.8−0.019%$16.7M$21.2M50xas long as short
Arcus BTC-USD+0.0021%1h85,423.6−0.031%$6.9M$97.2M40xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Nado BTC-PERP+0.0060%1h85,453.5+0.004%$22.7M$219.1M50xas long as short
BingX BTC-USDT+0.0060%8h85,500.4+0.059%$1.54Bas long as short
Bitget BTCUSDT+0.0075%8h85,493.5+0.051%$2.96B$5.03B150xas long as short
Reya BTCRUSDPERP+0.0079%1h85,447.8−0.003%$6.7M$146.7M40xas long as short
Aevo BTC-PERP+0.0088%1h85,463.1+0.015%$2.4M$1.7M20xas long as short
MEXC BTC_USDT+0.0089%8h85,499.8+0.058%$5.05B$5.59B500xas long as short
Binance BTCUSDT+0.0089%8h85,500+0.059%$9.35B$24.04B150xas long as short
Lighter BTC+0.0096%1h85,485.1+0.041%$173.2M$1.00B50xas long as short
Lighter RH BTC+0.0096%1h85,489.4+0.046%$23.8M$148.5M50xas long as short
Popdex BTCUSDT+0.0096%1h85,448−0.002%$8.4M$52.7M100xas long as short
Katana Perps BTC-USD+0.0100%8h85,417−0.039%$225K$8.0M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,487.4+0.044%$4.2M$8.5M50xas long as short
Hyperliquid BTC+0.0100%1h85,573+0.144%$3.75B$4.98B40xas long as short
Pacifica BTC+0.0100%1h85,460.3+0.012%$40.0M$575.8M50xas long as short
Bybit BTCUSDT+0.0100%8h85,496.3+0.054%$5.24B$9.69B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,508+0.068%$2.58B$12.10B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h85,409−0.048%$3.9M$18.0M25xas long as short
Gate BTC_USDT+0.0100%8h85,499.7+0.058%$5.53B$10.61B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,471.2+0.025%$35.7M$176.2M75xas long as short
Variational Omni BTC+0.0100%8h85,453.7+0.004%$153.6M$563.4Mas long as short
edgeX BTCUSDC+0.0100%4h85,527.2+0.090%$279.4M$916.4M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,511.2+0.072%$214.7M$168.5M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h85,522.5+0.085%$139.9M$314.9M100xas long as short
StandX BTC-USD+0.0100%1h85,531+0.095%$30.2M$207.6M40xas long as short
Vest BTC-PERP+0.0100%1h85,499+0.057%$11.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,443−0.008%$11.0M$14.2M50xas long as short
Bullet BTC-USD+0.0100%1h85,471.9+0.026%$193K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,471.8+0.026%$2.3M$8.8M100xas long as short
Derive BTC-PERP+0.0100%1h85,470.1+0.023%$29.9M$50.9M15xas long as short
SunX BTC-USDTlong+0.0100%8h85,450long leg$2.9M$6.1M100x
SoDEX BTC-USD+0.0100%1h85,474+0.028%$59.9M$336.1M40xas long as short
HTX BTC-USDT+0.0100%8h85,454.3+0.005%$2.26B$940.1M200xas long as short
Phemex BTCUSDT+0.0100%8h85,475.9+0.030%$149.9M$484.1M150xas long as short
Bulk BTC-USD+0.0100%1h85,513.6+0.074%$649.6M$594.9M40xas long as short
Extended BTC-USD+0.0104%1h85,474.2+0.028%$44.5M$226.5M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h85,449.90.000%$106.9M500xas long as short
Coinbase International BTC-PERP-INTX+0.0104%1h85,513.8+0.075%$117.0M$5.16B50xas long as short
Injective BTC/USDC PERP+0.0150%1h85,539+0.104%$340K$26.9M52xas long as short
Kraken Futures PF_XBTUSD+0.0170%1h85,499.8+0.058%$188.4M$954.2M100xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0176% / S −0.0150%1h85,475.2+0.029%$13.4M200xas long as short
RISEx BTC/USDC+0.0194%1h85,467+0.020%$8.3M$42.4M25xas long as short
Hibachi BTC/USDT-P+0.0200%1h85,502.4+0.061%$693K$7.9M30xas long as short
Aftermath Perps BTCUSDshort+0.0203%1h85,521.2+0.083%$78K$219K20x
Deribit BTC-PERPETUAL+0.0210%1h85,525.4+0.088%$893.9M$1.53B50xas long as short
Kalshi KXBTCPERP+0.0217%8h85,474+0.028%$10.4M$758.6M6.4xas long as short
Perpl BTC+0.0447%43m85,452.5+0.003%$497K$18.9M6.7xas long as short