Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Vest against SunX−0.013%49s7-day average +0.026% · you buy dearer than you sell

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

Long on SunX Short on Vest

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.032%−$3 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now −0.013%, 7d avg +0.026%

Together, before fees−0.013%+ Points / potential airdropVest: Active · farm board−$1 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: Vest is 0.039% cheaper against SunX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.026%. The two prices were read 49 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	SunX BTC-USDT	85,309.9	0.0100	pay 0.0100% / 8h	37m 29s	$2.9M	$6.1M	100x
Short	Vest BTC-PERP	85,299	0.0100	get 0.0013% / 1h	37m 29s	—	$10.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against SunX. 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 SunXbpFee VestbpOrdersPrice spread, now −0.013%Rate

Funding earned: $0
Price spread: −0.013% → +0.026%: −$3.93
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Vest: 1 bp × 2 orders: −$2
Net: −$13.93
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 11 min ago; Vest: 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 SunX live order book, 11 min ago	1.26 bp	5.8 bp −$6	6.2 bp −$62	8.0 bp −$802	10.6 bp −$5,283
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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
Hotstuff BTC-PERP	−0.0080%	1h	85,262	−0.056%	$8K	$3K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,354	+0.052%	$2.3M	$10.8M	40x	as long as short
KuCoin XBTUSDTM	−0.0024%	8h	85,209.6	−0.118%	$928.9M	$775.6M	125x	as long as short
BloFin BTC-USDT	−0.0022%	8h	85,311.6	+0.002%	$420.7M	$681.9M	150x	as long as short
Aster BTCUSDT	−0.0006%	8h	85,218.3	−0.107%	$509.6M	$1.08B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,224.3	−0.100%	$346K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,258.3	−0.060%	$481K	$18.4M	6.7x	as long as short
dYdX BTC-USD	+0.0004%	1h	85,225.3	−0.099%	$16.7M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,309.4	−0.001%	$36.5M	—	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,294.8	−0.018%	$186.1M	$953.0M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni BTCUSDT	+0.0063%	1h	85,387.6	+0.091%	$139.8M	$312.7M	100x	as long as short
Injective BTC/USDC PERP	+0.0067%	1h	85,342	+0.038%	$338K	$24.7M	52x	as long as short
BingX BTC-USDC	+0.0067%	8h	85,227.7	−0.096%	—	$17.4M	—	as long as short
Bybit BTCUSDT	+0.0082%	8h	85,198.3	−0.131%	$5.12B	$9.99B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0087%	1h	85,327.1	+0.020%	$840.9M	$1.66B	50x	as long as short
Nado BTC-PERP	+0.0087%	1h	85,266	−0.052%	$24.0M	$220.4M	50x	as long as short
Bitget BTCUSDT	+0.0092%	8h	85,215.6	−0.111%	$2.97B	$5.18B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,249.1	−0.071%	$168.5M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,248.6	−0.072%	$23.6M	$148.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,235	−0.088%	$8.4M	$57.4M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,297.3	−0.015%	$2.4M	$6.7M	20x	as long as short
Binance BTCUSDT	+0.0098%	8h	85,221.2	−0.104%	$9.39B	$25.07B	150x	as long as short
MEXC BTC_USDT	+0.0098%	8h	85,216	−0.110%	$5.04B	$5.73B	500x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,208	−0.119%	$270K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,300.9	−0.011%	$5.8M	$9.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,300	−0.012%	$3.74B	$5.07B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,265	−0.053%	$39.9M	$606.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,213.4	−0.113%	$2.60B	$12.20B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,238	−0.084%	$3.8M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,249.8	−0.070%	$4.7M	$96.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,254.8	−0.065%	$5.50B	$11.05B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,266.2	−0.051%	$37.2M	$186.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,361.8	+0.061%	$156.0M	$553.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,300.9	−0.010%	$282.9M	$956.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,333.8	+0.028%	$214.3M	$158.5M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,322.9	+0.015%	$30.1M	$210.7M	40x	as long as short
Vest BTC-PERPshort	+0.0100%	1h	85,299	−0.013%	—	$10.1M	50x
Polymarket Perps BTC-USD	+0.0100%	1h	85,232	−0.091%	$10.9M	$14.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,221.8	−0.103%	$197K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,297.7	−0.014%	$2.6M	$9.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,334	+0.028%	$194K	$796K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,281.1	−0.034%	$29.9M	$45.8M	15x	as long as short
SunX BTC-USDTlong	+0.0100%	8h	85,309.9	long leg	$2.9M	$6.1M	100x
SoDEX BTC-USD	+0.0100%	1h	85,293	−0.020%	$59.7M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,300	−0.012%	$2.25B	$967.8M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,292.9	−0.020%	$158.9M	$514.7M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,299.3	−0.012%	$693.1M	$258.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,226	−0.098%	$45.5M	$241.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,314.2	+0.005%	—	$105.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,326.6	+0.020%	$112.2M	$5.48B	50x	as long as short
Reya BTCRUSDPERP	+0.0138%	1h	85,207.8	−0.120%	$6.6M	$145.8M	40x	as long as short
Kalshi KXBTCPERP	+0.0172%	8h	85,328	+0.021%	$12.0M	$736.4M	6.4x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,251.1	−0.069%	$8.8M	$42.8M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0147%	1h	85,226.8	−0.097%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,345.5	+0.042%	$683K	$7.7M	30x	as long as short
Aftermath Perps BTCUSD	+0.0297%	1h	85,360.2	+0.059%	$79K	$252K	20x	as long as short