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% APRpaid last 24h −0.012%

Price spread now: SoDEX against SunX−0.013%7-day average +0.005% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$190.191% of the position

Long on SunX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.026%−$3 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.013%, 7d avg +0.005%

Together, before fees+0.014%+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BTC-USDT	85,451.4	0.0100	pay 0.0100% / 8h	1h 12m	$2.9M	$6.1M	100x
Short	SoDEX BTC-USD	85,440	0.0100	get 0.0013% / 1h	12m 43s	$59.8M	$336.7M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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

Position, each leg$Hold fordaysFee SunXbpFee SoDEXbpOrdersPrice spread, now −0.013%Rate

Funding earned: $0
Price spread: −0.013% → +0.005%: −$1.86
Slippage, 4 orders: −$3.07
Fee SunX: 4 bp × 2 orders: −$8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$20.93
Costs to cover: 0.191%
Break-even: never at this rate

Slippage from SunX: live order book, 6 min ago; SoDEX: 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 SunX live order book, 6 min ago	0.15 bp	4.2 bp −$4	4.8 bp −$48	7.0 bp −$697	9.5 bp −$4,739
Sell SoDEX live order book, 1 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.6 bp −$557	46.9 bp −$23.5K

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	−0.0082%	1h	85,513	+0.072%	$2.3M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,454	+0.003%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0036%	8h	85,436.2	−0.018%	$929.3M	$775.0M	125x	as long as short
BloFin BTC-USDT	−0.0021%	8h	85,439.9	−0.013%	$420.1M	$679.6M	150x	as long as short
Aster BTCUSDT	−0.0003%	8h	85,429.6	−0.026%	$512.9M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,466.2	+0.017%	$353K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,457.5	+0.007%	$490K	$18.4M	6.7x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,473.9	+0.026%	$16.7M	$21.1M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,462.1	+0.013%	$36.5M	—	200x	as long as short
Nado BTC-PERP	+0.0045%	1h	85,431.8	−0.023%	$24.2M	$222.1M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0057%	1h	85,247	−0.239%	$338K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0073%	8h	85,432.2	−0.022%	—	$1.57B	—	as long as short
Deribit BTC-PERPETUAL	+0.0074%	1h	85,492.6	+0.048%	$861.1M	$1.63B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,450.6	−0.001%	$186.1M	$953.9M	100x	as long as short
Bitget BTCUSDT	+0.0091%	8h	85,432.2	−0.022%	$2.97B	$5.15B	150x	as long as short
Bybit BTCUSDT	+0.0096%	8h	85,423	−0.033%	$5.14B	$9.98B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,451.3	0.000%	$170.1M	$1.03B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,446.7	−0.006%	$23.6M	$148.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,485	+0.039%	$8.5M	$56.8M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,446.7	−0.005%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0098%	8h	85,430.9	−0.024%	$5.03B	$5.78B	500x	as long as short
Binance BTCUSDT	+0.0099%	8h	85,428.7	−0.027%	$9.43B	$24.88B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,438	−0.016%	$245K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,494.2	+0.050%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,522	+0.083%	$3.75B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,468.3	+0.020%	$40.1M	$603.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,437.7	−0.016%	$2.60B	$12.19B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,433	−0.022%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,427.3	−0.028%	$5.1M	$96.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,499.5	+0.056%	$686.3M	$379.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,438.9	−0.015%	$5.56B	$11.08B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,432.9	−0.022%	$37.4M	$179.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,450.4	−0.001%	$156.4M	$558.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,457.5	+0.007%	$280.0M	$954.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,468.7	+0.020%	$214.5M	$164.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,465.5	+0.016%	$139.7M	$313.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,466.6	+0.018%	$30.1M	$206.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,506.7	+0.065%	—	$10.2M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,456	+0.005%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,459.4	+0.009%	$199K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,453.9	+0.003%	$2.6M	$9.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,495.1	+0.051%	$194K	$796K	40x	as long as short
SunX BTC-USDTlong	+0.0100%	8h	85,451.4	long leg	$2.9M	$6.1M	100x
SoDEX BTC-USDshort	+0.0100%	1h	85,440	−0.013%	$59.8M	$336.7M	40x
HTX BTC-USDT	+0.0100%	8h	85,446.2	−0.006%	$2.26B	$963.0M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,467.6	+0.019%	$154.8M	$512.0M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,411.5	−0.047%	$44.9M	$239.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,446.3	−0.006%	—	$104.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,473.8	+0.026%	$113.0M	$5.49B	50x	as long as short
Reya BTCRUSDPERP	+0.0132%	1h	85,446.8	−0.005%	$6.6M	$147.7M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0150%	1h	85,462.9	+0.013%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0180%	8h	85,467	+0.018%	$11.8M	$740.5M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,479.5	+0.033%	$8.8M	$42.6M	25x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	85,478.2	+0.031%	$685K	$7.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0258%	1h	85,487.4	+0.042%	$80K	$234K	20x	as long as short