Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.022%

Price spread now: HTX against 01 Exchange−0.051%7-day average −0.032% · 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−$23as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on 01 Exchange Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.049%+$5 on $10k

Price spread, last 3 days (all we have)−0.017%−$2 · spread now −0.051%, 7d avg −0.032%

Together, before fees+0.033%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.032%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	86,610.1	−0.0024	get 0.0003% / 1h	41m 20s	$361K	$2.5M	50x
Short	HTX BTC-USDT	86,566.1	0.0100	get 0.0100% / 8h	41m 20s	$2.30B	$970.6M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against 01 Exchange. 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 01 ExchangebpFee HTXbpOrdersPrice spread, now −0.051%Rate

Funding earned: $26.04
Price spread: −0.051% → −0.032%: −$1.85
Slippage, 4 orders: −$2.26
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: $2.92
Costs to cover: 0.213%
Break-even: 6.2 days

Slippage from 01 Exchange: live order book, 3 min ago; HTX: live order book, 3 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 01 Exchange live order book, 3 min ago	0.01 bp	5.6 bp −$6	16.2 bp −$162	doesn't fit	doesn't fit
Sell HTX live order book, 3 min ago	0.01 bp	6.0 bp −$6	6.1 bp −$61	7.6 bp −$759	9.7 bp −$4,873

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	86,598	−0.014%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,586	−0.028%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,568	−0.049%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,610.4	0.000%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSDlong	−0.0024%	1h	86,610.1	long leg	$361K	$2.5M	50x
Aster BTCUSDT	0.0000%	8h	86,601.3	−0.010%	$502.3M	$1.15B	200x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,597.6	−0.014%	$916.4M	$1.49B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,619.5	+0.011%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0013%	8h	86,597.2	−0.015%	$851.2M	$715.1M	125x	as long as short
dYdX BTC-USD	+0.0025%	1h	86,584.4	−0.030%	$17.0M	$21.1M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0027%	1h	86,597.7	−0.014%	$6.7M	$145.4M	40x	as long as short
BingX BTC-USDT	+0.0042%	8h	86,601.4	−0.010%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0042%	8h	86,578.5	−0.036%	$150.4M	$479.5M	150x	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,598.3	−0.014%	$2.96B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0072%	8h	86,601.4	−0.010%	$5.15B	$5.64B	500x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,582.5	−0.032%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0073%	8h	86,600.1	−0.012%	$9.44B	$24.57B	150x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,597	−0.015%	$5.88B	$10.74B	200x	as long as short
SoDEX BTC-USD	+0.0093%	1h	86,564	−0.053%	$60.5M	$337.7M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,581	−0.034%	$170.5M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,592.6	−0.020%	$24.1M	$151.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,600	−0.012%	$8.5M	$52.6M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,577	−0.038%	$200K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,600.3	−0.011%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,564.4	−0.053%	$21.8M	$234.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,675	+0.075%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,605.2	−0.006%	$40.8M	$524.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,596.6	−0.016%	$5.27B	$9.82B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,592.9	−0.020%	$2.55B	$12.77B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,582	−0.032%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,631.4	+0.025%	$7.6M	$95.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,560.7	−0.057%	$572.5M	$17.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,561.4	−0.056%	$38.4M	$156.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,628.8	+0.022%	$157.3M	$569.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,643	+0.038%	$279.9M	$948.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,607.5	−0.003%	$217.5M	$171.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,662	+0.060%	$141.6M	$323.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,596.7	−0.015%	$30.7M	$204.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,639.1	+0.033%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,600	−0.012%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,602.8	−0.008%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,600.9	−0.011%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,627.3	+0.020%	$141K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,595.8	−0.016%	$30.6M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,626	+0.018%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDTshort	+0.0100%	8h	86,566.1	−0.051%	$2.30B	$970.6M	200x
Extended BTC-USD	+0.0104%	1h	86,584.3	−0.030%	$45.5M	$227.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,617.3	+0.008%	—	$98.9M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,588.1	−0.025%	$193.5M	$951.7M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,605.9	−0.005%	$417K	$23.2M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,600.9	−0.011%	$132.7M	$5.68B	50x	as long as short
Aftermath Perps BTCUSD	+0.0121%	1h	86,622.9	+0.015%	$79K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,608.6	−0.002%	$728K	$8.1M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0193% / S −0.0214%	1h	86,616.4	+0.007%	$15.0M	—	200x	as long as short
BloFin BTC-USDT	+0.0193%	8h	86,567.3	−0.049%	$413.7M	$658.7M	150x	as long as short
Kalshi KXBTCPERP	+0.0209%	8h	86,606	−0.005%	$9.7M	$743.6M	6.4x	as long as short