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

BTC

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 16:00 UTC−0.0074%/8h= −8.2% APRnext payment $0.74 per $10,000 · paid last 24h −0.023%
Price spread now: Aster against SunX−0.016%7-day average +0.011% · you buy dearer than you sell
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$180.184% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days−0.033%−$3 on $10k
Price spread, last 4 days (all we have)+0.055%+$5 · spread now −0.016%, 7d avg +0.011%
Together, before fees+0.022%+ Points / potential airdropAster: Stage 5 · farm board+$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aster is 0.027% cheaper against SunX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.011%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX BTC-USDT85,405.30.0100pay 0.0100% / 8h7h 51m$2.9M$6.1M100x
ShortAster BTCUSDT85,391.90.0026get 0.0026% / 8h7h 51m$502.1M$1.09B200x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Aster 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
−$15.64
Price spread: −0.016% → +0.011%
−$2.66
Slippage, 4 orders
−$2.39
Fee SunX: 4 bp × 2 orders
−$8
Fee Aster: 4 bp × 2 orders
−$8
Net
−$36.69
Costs to cover
0.184%
Break-even
never at this rate
Slippage from SunX: live order book, 7 min ago; Aster: live order book, 2 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, 7 min ago0.62 bp5.2 bp −$55.7 bp −$577.9 bp −$78510.3 bp −$5,170
Sell Aster live order book, 2 min ago0.01 bp4.5 bp −$55.3 bp −$536.0 bp −$5999.1 bp −$4,557

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
Hotstuff BTC-PERP−0.0080%1h85,442+0.043%$8K$2K50xas long as short
BloFin BTC-USDT−0.0020%8h85,451.6+0.054%$423.5M$684.7M150xas long as short
Injective BTC/USDC PERP−0.0006%1h85,482+0.090%$307K$23.1M52xas long as short
01 Exchange BTCUSD0.0000%1h85,416.5+0.013%$344K$2.3M50xas long as short
KuCoin XBTUSDTM+0.0004%8h85,387.1−0.021%$929.9M$776.5M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h85,439.4+0.040%$36.5M200xas long as short
Aster BTCUSDTshort+0.0026%8h85,391.9−0.016%$502.1M$1.09B200x
dYdX BTC-USD+0.0030%1h85,415.5+0.012%$16.7M$21.0M50xas long as short
Deribit BTC-PERPETUAL+0.0067%1h85,414.2+0.010%$830.4M$1.67B50xas long as short
Kraken Futures PF_XBTUSD+0.0068%1h85,393.9−0.013%$186.2M$952.5M100xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC+0.0075%1h85,441+0.042%$2.3M$10.4M40xas long as short
BingX BTC-USDT+0.0080%8h85,392.7−0.015%$1.58Bas long as short
Lighter BTC+0.0096%1h85,403.3−0.002%$170.3M$940.3M50xas long as short
Lighter RH BTC+0.0096%1h85,403.1−0.003%$23.6M$133.5M50xas long as short
Popdex BTCUSDT+0.0096%1h85,411+0.007%$8.7M$58.4M100xas long as short
Aevo BTC-PERP+0.0096%1h85,386.6−0.022%$2.4M$6.7M20xas long as short
Katana Perps BTC-USD+0.0100%8h85,391−0.017%$264K$8.7M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,460.7+0.065%$5.7M$9.6M50xas long as short
Nado BTC-PERP+0.0100%1h85,420+0.017%$24.1M$220.3M50xas long as short
Pacifica BTC+0.0100%1h85,430.4+0.029%$40.2M$604.6M50xas long as short
Binance BTCUSDT+0.0100%8h85,389.3−0.019%$9.40B$25.17B150xas long as short
Bybit BTCUSDT+0.0100%8h85,395.5−0.011%$5.08B$10.03B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,411.1+0.007%$2.61B$12.23B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h85,423+0.021%$3.8M$17.3M25xas long as short
Arcus BTC-USD+0.0100%1h85,430.2+0.029%$4.6M$97.6M40xas long as short
Bulk BTC-USD+0.0100%1h85,382−0.027%$697.9M$180.4M40xas long as short
Gate BTC_USDT+0.0100%8h85,404.4−0.001%$5.48B$9.84B200xas long as short
MEXC BTC_USDT+0.0100%8h85,392−0.016%$5.03B$5.72B500xas long as short
Bitget BTCUSDT+0.0100%8h85,428.6+0.027%$2.98B$5.17B150xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,389.8−0.018%$37.7M$194.0M75xas long as short
Variational Omni BTC+0.0100%8h85,356−0.058%$155.8M$547.8Mas long as short
edgeX BTCUSDC+0.0100%4h85,324.2−0.095%$283.0M$959.6M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,382.2−0.027%$214.4M$157.6M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h85,354.3−0.060%$138.1M$312.8M100xas long as short
StandX BTC-USD+0.0100%1h85,433.5+0.033%$30.1M$217.4M40xas long as short
Vest BTC-PERP+0.0100%1h85,498.1+0.109%$9.5M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,241−0.192%$10.9M$14.9M50xas long as short
Bullet BTC-USD+0.0100%1h85,416+0.013%$200K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,396.2−0.011%$2.7M$9.9M100xas long as short
Bluefin BTC-PERP+0.0100%1h85,436.3+0.036%$194K$796K40xas long as short
SunX BTC-USDTlong+0.0100%8h85,405.3long leg$2.9M$6.1M100x
SoDEX BTC-USD+0.0100%1h85,380−0.030%$59.8M$336.7M40xas long as short
HTX BTC-USDT+0.0100%8h85,384.5−0.024%$2.26B$974.9M200xas long as short
Phemex BTCUSDT+0.0100%8h85,402.3−0.004%$160.2M$517.4M150xas long as short
Extended BTC-USD+0.0104%1h85,366.8−0.045%$45.7M$241.8M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h85,455.3+0.059%$107.6M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h85,431+0.030%$111.3M$5.46B50xas long as short
Reya BTCRUSDPERP+0.0146%1h85,407.9+0.003%$6.6M$140.1M40xas long as short
Derive BTC-PERP+0.0170%1h85,488.3+0.097%$28.8M$49.6M15xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0174% / S −0.0148%1h85,410.3+0.006%$13.0M200xas long as short
Kalshi KXBTCPERP+0.0184%8h85,454+0.057%$10.7M$740.2M6.4xas long as short
RISEx BTC/USDC+0.0194%1h85,434.7+0.034%$8.9M$42.9M25xas long as short
Hyperliquid BTC+0.0260%1h85,476+0.083%$3.81B$5.13B40xas long as short
Aftermath Perps BTCUSD+0.0295%1h85,413.9+0.010%$81K$246K20xas long as short
Hibachi BTC/USDT-P+0.0328%1h85,493+0.103%$685K$7.7M30xas long as short
Perpl BTC+0.0447%43m85,448.3+0.050%$469K$18.4M6.7xas long as short