Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%

Price spread now: Jupiter Perps against 01 Exchange+0.046%7-day average −0.006% · you sell dearer than you buy

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

Long on 01 Exchange Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.055%−$6 on $10k

Price spread, last 3 days (all we have)−0.062%−$6 · spread now +0.046%, 7d avg −0.006%

Together, before fees−0.117%−$12 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: Jupiter Perps is 0.052% dearer against 01 Exchange than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,565.3	−0.0056	get 0.0007% / 1h	57m 56s	$362K	$2.3M	50x
Short	Jupiter Perps WBTC-PERP	85,604.3	L +0.0104% / S +0.0056%	pay 0.0007% / 1h	57m 56s	—	$101.7M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps 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 Jupiter PerpsbpOrdersPrice spread, now +0.046%Rate

Funding earned: $0
Price spread: +0.046% → −0.006%: $5.19
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$13.81
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: 01 Exchange: live order book, 1 min ago; Jupiter Perps: 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 01 Exchange live order book, 1 min ago	0.01 bp	5.1 bp −$5	10.2 bp −$102	doesn't fit	doesn't fit
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter Perps: 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 55 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	−0.0144%	1h	85,498	−0.079%	$2.1M	$10.1M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,608	+0.050%	$8K	$3K	50x	as long as short
01 Exchange BTCUSDlong	−0.0056%	1h	85,565.3	long leg	$362K	$2.3M	50x
dYdX BTC-USD	0.0000%	1h	85,585.5	+0.024%	$16.7M	$20.9M	50x	as long as short
Nado BTC-PERP	+0.0002%	1h	85,560.8	−0.005%	$22.6M	$224.6M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,553.5	−0.014%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0021%	8h	85,489.8	−0.088%	$515.3M	$1.12B	200x	as long as short
KuCoin XBTUSDTM	+0.0022%	8h	85,478.6	−0.101%	$900.8M	$747.9M	125x	as long as short
SoDEX BTC-USD	+0.0046%	1h	85,539	−0.031%	$59.9M	$336.4M	40x	as long as short
BingX BTC-USDT	+0.0055%	8h	85,488.4	−0.090%	—	$1.54B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BTC-USDT	+0.0056%	8h	85,525.1	−0.047%	$2.27B	$932.8M	200x	as long as short
Reya BTCRUSDPERP	+0.0063%	1h	85,530.4	−0.041%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,479.6	−0.100%	$2.94B	$5.02B	150x	as long as short
Popdex BTCUSDT	+0.0072%	1h	85,550	−0.018%	$8.4M	$51.5M	100x	as long as short
SunX BTC-USDT	+0.0075%	8h	85,568.6	+0.004%	$2.9M	$6.5M	100x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,617	+0.060%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,560.2	−0.006%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0085%	8h	85,497	−0.080%	$5.07B	$5.57B	500x	as long as short
Binance BTCUSDT	+0.0085%	8h	85,484.4	−0.094%	$9.32B	$23.92B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,543.2	−0.026%	$170.2M	$980.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,546.8	−0.022%	$23.9M	$146.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,598.1	+0.038%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,526	−0.046%	$204K	$7.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,562	−0.004%	$3.76B	$4.92B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,590.2	+0.029%	$40.1M	$571.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,487.8	−0.091%	$5.32B	$9.61B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,487.9	−0.090%	$2.56B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,550	−0.018%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,525	−0.047%	$7.1M	$96.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,495.7	−0.081%	$5.57B	$10.37B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,509.1	−0.066%	$34.9M	$168.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,545	−0.024%	$154.0M	$554.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,553.1	−0.014%	$278.3M	$939.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,624	+0.069%	$214.9M	$162.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,552.6	−0.015%	$139.9M	$316.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,571.5	+0.007%	$30.2M	$211.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,605.3	+0.047%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,542	−0.027%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,544.7	−0.024%	$187K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,539.3	−0.030%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,555.4	−0.012%	$197K	$722K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,540.6	−0.029%	$30.0M	$52.7M	15x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,532.2	−0.039%	$149.7M	$478.8M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,593.2	+0.033%	$605.0M	$283.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,463	−0.120%	$44.2M	$227.5M	50x	as long as short
Jupiter Perps WBTC-PERPshort	L +0.0104% / S +0.0056%	1h	85,604.3	+0.046%	—	$101.7M	500x
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,582	+0.020%	$130.4M	$5.07B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,581.4	+0.019%	$8.4M	$42.1M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,565.4	0.000%	$187.0M	$951.6M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0163%	1h	85,587.3	+0.026%	$894.8M	$1.52B	50x	as long as short
Aftermath Perps BTCUSD	+0.0186%	1h	85,599.4	+0.040%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	85,616.2	+0.059%	$683K	$7.8M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0186%	1h	85,553.1	−0.014%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,595	+0.035%	$10.3M	$765.1M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,602.2	+0.043%	$510K	$19.7M	6.7x	as long as short