Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0124%/8hnext payment −$0.15 per $10,000 · paid last 24h −0.030%

Price spread now: 01 Exchange against Vest−0.062%7-day average −0.008% · you buy dearer than you sell

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

Long on Vest Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.047%−$5 on $10k

Price spread, last 7 days+0.071%+$7 · spread now −0.062%, 7d avg −0.008%

Together, before fees+0.024%+ Points / potential airdropVest: Active · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and 01 Exchange is 0.054% cheaper against Vest than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.008%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest BTC-PERP	86,559.5	0.0100	pay 0.0013% / 1h	4m 22s	—	$11.6M	50x
Short	01 Exchange BTCUSD	86,506.2	−0.0024	pay 0.0003% / 1h	4m 22s	$303K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.062%Rate

Funding earned: −$26.04
Price spread: −0.062% → −0.008%: −$5.36
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$40.4
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; 01 Exchange: 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 01 Exchange live order book, 4 min ago	0.02 bp	5.0 bp −$5	9.9 bp −$99	doesn't fit	doesn't fit

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
Phoenix BTC	−0.0132%	1h	86,513	−0.054%	$2.1M	$11.1M	40x	as long as short
Perpl BTC	−0.0112%	43m	86,464.2	−0.110%	$409K	$25.8M	6.7x	as long as short
BloFin BTC-USDT	−0.0082%	8h	86,444.8	−0.133%	$422.4M	$595.2M	150x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,474	−0.099%	$9K	$4K	50x	as long as short
Aftermath Perps BTCUSD	−0.0045%	1h	86,514.5	−0.052%	$85K	$166K	20x	as long as short
Kraken Futures PF_XBTUSD	−0.0030%	1h	86,485	−0.086%	$184.5M	$860.6M	100x	as long as short
01 Exchange BTCUSDshort	−0.0024%	1h	86,506.2	−0.062%	$303K	$2.4M	50x
dYdX BTC-USD	−0.0014%	1h	86,517	−0.049%	$17.3M	$18.2M	50x	as long as short
KuCoin XBTUSDTM	−0.0009%	8h	86,481.3	−0.090%	$823.6M	$666.0M	125x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	86,509	−0.058%	$8.8M	$695.2M	6.4x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	0.0000%	1h	86,524	−0.041%	$326K	$27.0M	52x	as long as short
Reya BTCRUSDPERP	+0.0004%	1h	86,506.6	−0.061%	$6.7M	$140.0M	40x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,527.3	−0.037%	$37.1M	—	200x	as long as short
BingX BTC-USDC	+0.0006%	8h	86,499.6	−0.069%	—	$14.8M	—	as long as short
SoDEX BTC-USD	+0.0008%	1h	86,437	−0.142%	$61.0M	$311.5M	40x	as long as short
Bitget BTCUSDT	+0.0009%	8h	86,488.8	−0.082%	$2.97B	$4.90B	150x	as long as short
Aster BTCUSDT	+0.0021%	8h	86,482.3	−0.089%	$506.4M	$1.12B	200x	as long as short
RISEx BTC/USDC	+0.0027%	1h	86,509	−0.058%	$8.9M	$39.7M	25x	as long as short
Phemex BTCUSDT	+0.0034%	8h	86,453.4	−0.123%	$153.0M	$444.6M	150x	as long as short
ApeX Omni BTCUSDT	+0.0035%	1h	86,506.9	−0.061%	$140.5M	$320.7M	100x	as long as short
MEXC BTC_USDT	+0.0037%	8h	86,484.8	−0.086%	$5.13B	$5.36B	500x	as long as short
Binance BTCUSDT	+0.0037%	8h	86,486.3	−0.085%	$9.53B	$23.29B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0038%	8h	86,487.2	−0.084%	$2.63B	$12.17B	100x	as long as short
Aevo BTC-PERP	+0.0040%	1h	86,456.1	−0.119%	$2.4M	$1.3M	20x	as long as short
Bulk BTC-USD	+0.0062%	1h	86,467	−0.107%	$570.2M	$47.0M	40x	as long as short
HTX BTC-USDT	+0.0066%	8h	86,440	−0.138%	$2.30B	$896.2M	200x	as long as short
Gate BTC_USDT	+0.0069%	8h	86,491	−0.079%	$5.98B	$10.21B	200x	as long as short
Popdex BTCUSDT	+0.0072%	1h	86,479	−0.093%	$8.5M	$49.8M	100x	as long as short
Bluefin BTC-PERP	+0.0074%	1h	86,473	−0.100%	$141K	$505K	40x	as long as short
Bybit BTCUSDT	+0.0075%	8h	86,491.6	−0.078%	$5.29B	$9.20B	150x	as long as short
Variational Omni BTC	+0.0086%	8h	86,497.1	−0.072%	$163.6M	$537.8M	—	as long as short
Orderly PERP_BTC_USDC	+0.0088%	8h	86,504.5	−0.064%	$2.3M	$7.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0095%	8h	86,507.2	−0.060%	$217.3M	$181.6M	50x	as long as short
Lighter BTC	+0.0096%	1h	86,473.2	−0.100%	$172.9M	$981.3M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,481.4	−0.090%	$24.2M	$147.0M	50x	as long as short
Hibachi BTC/USDT-P	+0.0096%	1h	86,490	−0.080%	$615K	$6.8M	30x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	86,502.7	−0.066%	$4.5M	$7.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,486	−0.085%	$210K	$6.1M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,472.7	−0.100%	$23.4M	$229.9M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,488.7	−0.082%	$37.3M	$446.3M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,515	−0.051%	$3.9M	$18.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,550.3	−0.011%	$6.8M	$92.5M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,447.5	−0.129%	$37.9M	$140.8M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,473	−0.100%	$284.3M	$906.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,474.3	−0.098%	$30.8M	$208.8M	40x	as long as short
Vest BTC-PERPlong	+0.0100%	1h	86,559.5	long leg	—	$11.6M	50x
Polymarket Perps BTC-USD	+0.0100%	1h	86,502	−0.066%	$11.0M	$13.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,489.2	−0.081%	$237K	$3.4M	20x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,460.2	−0.115%	$30.2M	$60.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,465.2	−0.109%	$3.4M	$5.7M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,480.6	−0.091%	$47.8M	$219.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,521.2	−0.044%	—	$87.3M	500x	as long as short
Hyperliquid BTC	+0.0159%	1h	86,591	+0.036%	$3.99B	$4.76B	40x	as long as short
Coinbase International BTC-PERP-INTX	+0.0168%	1h	86,511	−0.056%	$131.7M	$5.89B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0178% / S −0.0200%	1h	86,521.2	−0.044%	$14.4M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0200%	1h	86,522.5	−0.043%	$932.2M	$1.22B	50x	as long as short