Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: StandX against Variational Omni−0.033%7-day average +0.004% · you buy dearer than you sell

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

Long on Variational Omni Short on StandX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days+0.046%+$5 · spread now −0.033%, 7d avg +0.004%

Together, before fees+0.047%+ Points / potential airdropVariational Omni: Active · StandX: Active · farm board+$5 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: StandX is 0.037% cheaper against Variational Omni than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BTC	86,405.8	0.0100	pay 0.0100% / 8h	22m 23s	$157.3M	$568.1M	—
Short	StandX BTC-USD	86,377.3	0.0100	get 0.0013% / 1h	22m 23s	$30.6M	$205.3M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX against Variational Omni. 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 Variational OmnibpFee StandXbpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → +0.004%: −$3.66
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee StandX: 4 bp × 2 orders: −$8
Net: −$11.66
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; StandX: live order book, 2 min ago. 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 Variational Omni RFQ quote, 2 min ago	0.50 bp	doesn't fit	0.5 bp −$5	1.6 bp −$159	doesn't fit
Sell StandX live order book, 2 min ago	1.56 bp	6.8 bp −$7	7.5 bp −$75	8.6 bp −$856	10.6 bp −$5,303

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	−0.0118%	1h	86,430	+0.028%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,360	−0.053%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,345	−0.070%	$332K	$26.9M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,432.2	+0.030%	$8.3M	$42.8M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,428.1	+0.026%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0001%	8h	86,411.1	+0.006%	$501.3M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,423.6	+0.021%	$412K	$22.9M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,435.5	+0.034%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0017%	8h	86,421.5	+0.018%	$850.1M	$715.8M	125x	as long as short
Reya BTCRUSDPERP	+0.0032%	1h	86,409.8	+0.005%	$6.7M	$145.5M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0042%	8h	86,404.1	−0.002%	—	$15.4M	—	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,406.1	0.000%	$2.96B	$5.13B	150x	as long as short
Phemex BTCUSDT	+0.0054%	8h	86,375.2	−0.035%	$150.3M	$478.5M	150x	as long as short
dYdX BTC-USD	+0.0060%	1h	86,411.1	+0.006%	$16.9M	$21.2M	50x	as long as short
Deribit BTC-PERPETUAL	+0.0067%	1h	86,445.3	+0.046%	$914.1M	$1.48B	50x	as long as short
MEXC BTC_USDT	+0.0068%	8h	86,395.5	−0.012%	$5.16B	$5.67B	500x	as long as short
Binance BTCUSDT	+0.0069%	8h	86,414.2	+0.010%	$9.42B	$24.59B	150x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,403.1	−0.003%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,410.5	+0.005%	$5.86B	$10.78B	200x	as long as short
SoDEX BTC-USD	+0.0087%	1h	86,365	−0.047%	$60.3M	$338.0M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,409.3	+0.004%	$170.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,390.8	−0.017%	$23.9M	$152.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,426	+0.023%	$8.4M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0097%	8h	86,413.2	+0.009%	$5.26B	$9.81B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,404	−0.002%	$199K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,447.8	+0.049%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,366.2	−0.046%	$21.8M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,499	+0.108%	$3.79B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,428.7	+0.026%	$41.0M	$529.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,416.3	+0.012%	$2.55B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,411	+0.006%	$3.9M	$18.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,452.9	+0.054%	$7.5M	$95.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,365.6	−0.047%	$37.9M	$156.7M	75x	as long as short
Variational Omni BTClong	+0.0100%	8h	86,405.8	long leg	$157.3M	$568.1M	—
edgeX BTCUSDC	+0.0100%	4h	86,374.1	−0.037%	$279.0M	$945.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,418.1	+0.014%	$217.0M	$171.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,375.3	−0.035%	$141.3M	$323.0M	100x	as long as short
StandX BTC-USDshort	+0.0100%	1h	86,377.3	−0.033%	$30.6M	$205.3M	40x
Vest BTC-PERP	+0.0100%	1h	86,447.1	+0.048%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,419	+0.015%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,414.1	+0.010%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,406.6	+0.001%	$2.4M	$9.4M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,440	+0.040%	$140K	$664K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,442.1	+0.042%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,321.1	−0.098%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,352.6	−0.062%	$2.29B	$969.7M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,464.9	+0.068%	$572.1M	$16.9M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,401.4	−0.005%	$45.5M	$227.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,385.8	−0.023%	—	$99.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,399.5	−0.007%	$191.7M	$955.4M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,417	+0.013%	$132.3M	$5.65B	50x	as long as short
Aftermath Perps BTCUSD	+0.0153%	1h	86,449.4	+0.050%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,386.3	−0.023%	$727K	$8.0M	30x	as long as short
BloFin BTC-USDT	+0.0189%	8h	86,365.3	−0.047%	$416.7M	$657.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0197% / S −0.0220%	1h	86,425.1	+0.022%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0206%	8h	86,377	−0.033%	$9.7M	$749.3M	6.4x	as long as short