Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.014%

Price spread now: Gate against Vest−0.079%7-day average −0.011% · you buy dearer than you sell

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

Long on Vest Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 7 days+0.071%+$7 · spread now −0.079%, 7d avg −0.011%

Together, before fees+0.073%+ Points / potential airdropVest: Active · farm board+$7 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: Gate is 0.068% cheaper against Vest than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest BTC-PERP	85,533.9	0.0100	pay 0.0013% / 1h	25m 24s	—	$10.0M	50x
Short	Gate BTC_USDT	85,466.3	0.0100	get 0.0100% / 8h	7h 25m	$5.49B	$9.94B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Vest. 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 VestbpFee GatebpOrdersPrice spread, now −0.079%Rate

Funding earned: $0
Price spread: −0.079% → −0.011%: −$6.81
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$23.81
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Gate: live order book, 4 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 Vest no order-book sample	—	—	—	—	—
Sell Gate live order book, 4 min ago	0.01 bp	7.5 bp −$8	7.5 bp −$75	8.3 bp −$831	10.6 bp −$5,316

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
Bluefin BTC-PERP	−0.0931%	1h	85,502.2	−0.037%	$194K	$785K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,457	−0.090%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,417.2	−0.136%	$424.0M	$660.0M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,421	−0.132%	$439K	$25.8M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,483.9	−0.058%	$353K	$2.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,470.4	−0.074%	$36.6M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0020%	8h	85,466.4	−0.079%	$941.5M	$760.7M	125x	as long as short
Aster BTCUSDT	+0.0033%	8h	85,451.5	−0.096%	$503.1M	$1.06B	200x	as long as short
dYdX BTC-USD	+0.0055%	1h	85,491.8	−0.049%	$16.8M	$20.8M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,395.3	−0.162%	$185.8M	$918.0M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,395	−0.162%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDC	+0.0080%	8h	85,446.3	−0.102%	—	$17.4M	—	as long as short
Nado BTC-PERP	+0.0088%	1h	85,450	−0.098%	$24.2M	$213.8M	50x	as long as short
Lighter BTC	+0.0096%	1h	85,468.4	−0.077%	$171.4M	$949.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,476.6	−0.067%	$23.5M	$135.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,473	−0.071%	$8.7M	$56.4M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,458.6	−0.088%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,441	−0.109%	$265K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,498.5	−0.041%	$5.7M	$9.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,486.4	−0.056%	$40.3M	$602.4M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,467.1	−0.078%	$9.40B	$24.51B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,456.9	−0.090%	$5.09B	$9.70B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,460.9	−0.085%	$2.61B	$11.74B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,479	−0.064%	$3.9M	$17.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,468.1	−0.077%	$5.1M	$96.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,303.3	−0.270%	$702.0M	$164.8M	40x	as long as short
Gate BTC_USDTshort	+0.0100%	8h	85,466.3	−0.079%	$5.49B	$9.94B	200x
MEXC BTC_USDT	+0.0100%	8h	85,464.6	−0.081%	$5.06B	$5.76B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,456.2	−0.091%	$2.98B	$4.97B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,361.9	−0.201%	$37.5M	$192.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,352.3	−0.212%	$155.8M	$535.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,373.4	−0.188%	$285.4M	$964.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,416	−0.138%	$214.6M	$156.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,415	−0.139%	$136.6M	$312.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,379.2	−0.181%	$30.1M	$217.6M	40x	as long as short
Vest BTC-PERPlong	+0.0100%	1h	85,533.9	long leg	—	$10.0M	50x
Polymarket Perps BTC-USD	+0.0100%	1h	85,297	−0.277%	$10.9M	$14.4M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,460	−0.086%	$211K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,460.1	−0.086%	$2.7M	$9.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,444.6	−0.104%	$28.8M	$52.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,435.7	−0.115%	$3.1M	$6.9M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,368	−0.194%	$59.7M	$322.9M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,400	−0.157%	$2.26B	$960.6M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,385.7	−0.173%	$164.0M	$511.0M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,440.8	−0.109%	$45.8M	$237.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,467.5	−0.078%	—	$104.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,425.3	−0.127%	$111.9M	$5.37B	50x	as long as short
Hyperliquid BTC	+0.0149%	1h	85,551	+0.020%	$3.84B	$5.15B	40x	as long as short
Reya BTCRUSDPERP	+0.0150%	1h	85,456.6	−0.090%	$6.6M	$136.5M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0149%	1h	85,473.3	−0.071%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0192%	8h	85,431	−0.120%	$10.0M	$736.8M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,499.9	−0.040%	$8.9M	$42.1M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0206%	1h	85,512.9	−0.024%	$833.0M	$1.64B	50x	as long as short
Aftermath Perps BTCUSD	+0.0346%	1h	85,468.3	−0.077%	$81K	$259K	20x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	85,471.3	−0.073%	$688K	$7.6M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,420.8	−0.132%	$454K	$17.9M	6.7x	as long as short