Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.013%

Price spread now: edgeX against Aevo−0.032%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on Aevo Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.181%−$18 on $10k

Price spread, last 3 days (all we have)+0.015%+$1 · spread now −0.032%, 7d avg −0.005%

Together, before fees−0.166%+ Points / potential airdropedgeX: Active · farm board−$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.026% cheaper against Aevo than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of −0.005%). If the spread goes back, that is −$3 on $10k: about 4.4 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.181%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo BTC-PERP	85,580.2	0.0080	pay 0.0010% / 1h	58m 26s	$2.5M	$1.7M	20x
Short	edgeX BTCUSDC	85,553.1	0.0100	get 0.0050% / 4h	1h 58m	$278.3M	$939.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Aevo. 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 AevobpFee edgeXbpOrdersPrice spread, now −0.032%Rate

Funding earned: $4.2
Price spread: −0.032% → −0.005%: −$2.63
Slippage, 4 orders: −$2.66
Fee Aevo: 8 bp × 2 orders: −$16
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$26.09
Costs to cover: 0.277%
Break-even: 50.5 days

Slippage from Aevo: live order book, 1 min ago; edgeX: live order book, 1 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 Aevo live order book, 1 min ago	0.18 bp	10.2 bp −$10	11.8 bp −$118	doesn't fit	doesn't fit
Sell edgeX live order book, 1 min ago	0.02 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$469	5.7 bp −$2,863

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	−0.096%	$2.1M	$10.1M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,608	+0.033%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,565.3	−0.017%	$362K	$2.3M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,585.5	+0.006%	$16.7M	$20.9M	50x	as long as short
Nado BTC-PERP	+0.0002%	1h	85,560.8	−0.023%	$22.6M	$224.6M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,553.5	−0.031%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0021%	8h	85,541.5	−0.045%	$515.7M	$1.12B	200x	as long as short
KuCoin XBTUSDTM	+0.0022%	8h	85,531.9	−0.056%	$901.7M	$748.0M	125x	as long as short
SoDEX BTC-USD	+0.0053%	1h	85,586	+0.007%	$59.9M	$336.4M	40x	as long as short
BingX BTC-USDC	+0.0055%	8h	85,530.6	−0.058%	—	$17.0M	—	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	85,585.8	+0.007%	$2.27B	$932.8M	200x	as long as short
Reya BTCRUSDPERP	+0.0063%	1h	85,530.4	−0.058%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,534.7	−0.053%	$2.94B	$5.02B	150x	as long as short
Popdex BTCUSDT	+0.0072%	1h	85,550	−0.035%	$8.4M	$51.5M	100x	as long as short
SunX BTC-USDT	+0.0077%	8h	85,568.6	−0.014%	$2.9M	$6.5M	100x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,617	+0.043%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERPlong	+0.0080%	1h	85,580.2	long leg	$2.5M	$1.7M	20x
MEXC BTC_USDT	+0.0085%	8h	85,539.4	−0.048%	$5.07B	$5.56B	500x	as long as short
Binance BTCUSDT	+0.0085%	8h	85,534.9	−0.053%	$9.33B	$23.91B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,555.9	−0.028%	$170.2M	$980.3M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,558.6	−0.025%	$23.9M	$146.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,598.1	+0.021%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,526	−0.063%	$204K	$7.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,598	+0.021%	$3.76B	$4.92B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,590.2	+0.012%	$40.1M	$571.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,543.9	−0.042%	$5.32B	$9.61B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,542	−0.045%	$2.56B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,550	−0.035%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,525	−0.064%	$7.1M	$96.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,546.6	−0.039%	$5.58B	$10.37B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,581.9	+0.002%	$34.9M	$168.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,545	−0.041%	$154.0M	$554.0M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	85,553.1	−0.032%	$278.3M	$939.9M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,624	+0.051%	$214.9M	$162.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,552.6	−0.032%	$139.9M	$316.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,571.5	−0.010%	$30.2M	$211.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,605.3	+0.029%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,542	−0.045%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,544.7	−0.041%	$187K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,539.3	−0.048%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,630.3	+0.059%	$197K	$722K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,586.8	+0.008%	$30.0M	$52.7M	15x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,585.7	+0.006%	$150.0M	$479.7M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,593.2	+0.015%	$605.0M	$283.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,529.3	−0.059%	$44.2M	$227.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,604.3	+0.028%	—	$101.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,629.3	+0.057%	$130.5M	$5.08B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,581.4	+0.001%	$8.4M	$42.1M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,610	+0.035%	$187.1M	$951.6M	100x	as long as short
Aftermath Perps BTCUSD	+0.0186%	1h	85,599.4	+0.022%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	85,616.2	+0.042%	$683K	$7.8M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0196%	1h	85,637.1	+0.067%	$894.8M	$1.52B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0186%	1h	85,553.1	−0.032%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,617	+0.043%	$10.3M	$765.0M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,602.2	+0.026%	$510K	$19.7M	6.7x	as long as short