Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.034%

Price spread now: SunX against 01 Exchange+0.120%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on 01 Exchange Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.098%+$10 on $10k

Price spread, last 3 days (all we have)−0.180%−$18 · spread now +0.120%, 7d avg −0.027%

Together, before fees−0.082%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and SunX is 0.146% dearer against 01 Exchange than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,944.2	−0.0048	get 0.0006% / 1h	3m 36s	$362K	$2.3M	50x
Short	SunX BTC-USDT	86,047.1	0.0100	get 0.0100% / 8h	7h 03m	$3.3M	$5.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.120%Rate

Funding earned: $31.08
Price spread: +0.120% → −0.027%: $14.64
Slippage, 4 orders: −$9.3
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: $21.42
Costs to cover: 0.243%
Break-even: 2.2 days

Slippage from 01 Exchange: live order book, 1 min ago; SunX: live order book, 5 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, 1 min ago	0.45 bp	6.1 bp −$6	20.0 bp −$200	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	0.85 bp	4.9 bp −$5	5.1 bp −$51	6.7 bp −$673	8.8 bp −$4,378

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	−0.0129%	1h	86,215	+0.315%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,961	+0.020%	$9K	$3K	50x	as long as short
01 Exchange BTCUSDlong	−0.0048%	1h	85,944.2	long leg	$362K	$2.3M	50x
Perpl BTC	0.0000%	43m	86,144.7	+0.233%	$518K	$21.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,126.9	+0.213%	$36.8M	—	200x	as long as short
dYdX BTC-USD	+0.0023%	1h	85,950.3	+0.007%	$16.8M	$20.5M	50x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,365	+0.490%	$343K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0031%	8h	85,945.8	+0.002%	$498.3M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0044%	8h	85,915.2	−0.034%	$825.7M	$715.8M	125x	as long as short
Reya BTCRUSDPERP	+0.0050%	1h	86,101.2	+0.183%	$6.7M	$145.8M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0052%	1h	85,960	+0.018%	$8.2M	$42.4M	25x	as long as short
BingX BTC-USDT	+0.0053%	8h	85,943.3	−0.001%	—	$1.57B	—	as long as short
HTX BTC-USDT	+0.0056%	8h	86,045.8	+0.118%	$2.28B	$959.1M	200x	as long as short
Bitget BTCUSDT	+0.0066%	8h	85,939.2	−0.006%	$2.95B	$5.07B	150x	as long as short
Phemex BTCUSDT	+0.0066%	8h	86,057.3	+0.132%	$155.2M	$473.2M	150x	as long as short
SoDEX BTC-USD	+0.0069%	1h	86,066	+0.142%	$60.3M	$338.3M	40x	as long as short
Gate BTC_USDT	+0.0080%	8h	85,947.8	+0.004%	$5.73B	$10.68B	200x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,069.6	+0.146%	$2.5M	$1.8M	20x	as long as short
Binance BTCUSDT	+0.0082%	8h	85,938.7	−0.006%	$9.35B	$24.35B	150x	as long as short
MEXC BTC_USDT	+0.0082%	8h	85,925.9	−0.021%	$5.09B	$5.78B	500x	as long as short
Bluefin BTC-PERP	+0.0087%	1h	86,118	+0.202%	$144K	$666K	40x	as long as short
Lighter BTC	+0.0096%	1h	85,960.1	+0.019%	$169.8M	$998.3M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,961.9	+0.021%	$23.5M	$152.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,941	−0.004%	$8.4M	$52.1M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,923	−0.025%	$202K	$7.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,946.5	+0.003%	$4.2M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	85,900.1	−0.051%	$21.8M	$226.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,000	+0.065%	$3.76B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,984	+0.046%	$40.7M	$560.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,945.9	+0.002%	$5.23B	$9.67B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,971.8	+0.032%	$2.54B	$12.43B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,943	−0.001%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,949.8	+0.007%	$7.3M	$96.7M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,014	+0.081%	$35.4M	$161.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,079.3	+0.157%	$156.4M	$555.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,114.1	+0.198%	$278.1M	$940.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,079	+0.157%	$216.0M	$163.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,088.3	+0.168%	$140.8M	$320.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,109.6	+0.192%	$30.6M	$206.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,028.5	+0.098%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,112	+0.195%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,116.5	+0.200%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,080.1	+0.158%	$2.4M	$9.1M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,088.5	+0.168%	$30.2M	$57.0M	15x	as long as short
SunX BTC-USDTshort	+0.0100%	8h	86,047.1	+0.120%	$3.3M	$5.4M	100x
Bulk BTC-USD	+0.0100%	1h	86,141.5	+0.230%	$581.0M	$76.4M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,919.3	−0.029%	$45.7M	$223.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,080.4	+0.158%	—	$99.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,084.4	+0.163%	$132.2M	$5.27B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0122%	1h	86,090	+0.170%	$190.1M	$954.0M	100x	as long as short
Hibachi BTC/USDT-P	+0.0128%	1h	86,108.8	+0.192%	$724K	$8.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0169%	1h	86,174.5	+0.268%	$77K	$217K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0182%	1h	86,111.8	+0.195%	$902.8M	$1.51B	50x	as long as short
BloFin BTC-USDT	+0.0203%	8h	86,079.9	+0.158%	$415.6M	$640.3M	150x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	86,114	+0.198%	$10.2M	$766.1M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0222%	1h	86,121.5	+0.206%	$14.5M	—	200x	as long as short