Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h +0.005%

Price spread now: HTX against Aevo+0.019%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on Aevo Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.019%, 7d avg +0.002%

Together, before fees−0.056%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo BTC-PERP	85,886.7	0.0064	pay 0.0008% / 1h	26m 11s	$2.4M	$6.8M	20x
Short	HTX BTC-USDT	85,903	0.0077	get 0.0077% / 8h	4h 26m	$2.27B	$746.2M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.019%Rate

Funding earned: $2.71
Price spread: +0.019% → +0.002%: $1.75
Slippage, 4 orders: −$5.37
Fee Aevo: 8 bp × 2 orders: −$16
Fee HTX: 6 bp × 2 orders: −$12
Net: −$28.91
Costs to cover: 0.334%
Break-even: 81.7 days

Slippage from Aevo: live order book, 1 min ago; HTX: 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	2.39 bp	10.5 bp −$11	11.1 bp −$111	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.8 bp −$685	9.7 bp −$4,861

BTC on 55 exchanges

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	−0.0150%	1h	85,858	−0.033%	$2.1M	$7.7M	40x	as long as short
Perpl BTC	−0.0112%	43m	85,933.4	+0.054%	$466K	$13.3M	6.7x	as long as short
BloFin BTC-USDT	−0.0055%	8h	85,900.1	+0.016%	$425.1M	$552.6M	150x	as long as short
SoDEX BTC-USD	−0.0044%	1h	85,900	+0.016%	$65.8M	$186.7M	40x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,917	+0.035%	$365K	$1.8M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,935.4	+0.057%	$16.9M	$13.6M	50x	as long as short
Injective BTC/USDC PERP	+0.0001%	1h	86,030	+0.167%	$311K	$30.1M	52x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,918	+0.036%	$36.9M	—	200x	as long as short
Aster BTCUSDT	+0.0005%	8h	85,890.7	+0.005%	$509.6M	$824.6M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0019%	1h	85,920.7	+0.040%	$192.8M	$733.5M	100x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex BTCUSDT	+0.0048%	1h	85,923	+0.042%	$8.6M	$46.1M	100x	as long as short
KuCoin XBTUSDTM	+0.0052%	8h	85,910	+0.027%	$949.5M	$632.0M	125x	as long as short
BingX BTC-USDC	+0.0052%	8h	85,886.9	0.000%	—	$16.1M	—	as long as short
Phemex BTCUSDT	+0.0060%	8h	85,914.2	+0.032%	$172.6M	$472.3M	150x	as long as short
Bybit BTCUSDT	+0.0062%	8h	85,910.7	+0.028%	$5.15B	$7.95B	150x	as long as short
MEXC BTC_USDT	+0.0063%	8h	85,901.6	+0.017%	$5.17B	$4.74B	500x	as long as short
Binance BTCUSDT	+0.0064%	8h	85,903.5	+0.020%	$9.40B	$19.94B	150x	as long as short
Aevo BTC-PERPlong	+0.0064%	1h	85,886.7	long leg	$2.4M	$6.8M	20x
Gate BTC_USDT	+0.0073%	8h	85,910	+0.027%	$5.52B	$8.82B	200x	as long as short
HTX BTC-USDTshort	+0.0077%	8h	85,903	+0.019%	$2.27B	$746.2M	200x
Bitget BTCUSDT	+0.0080%	8h	85,900.8	+0.016%	$2.99B	$3.82B	150x	as long as short
Bullet BTC-USD	+0.0085%	1h	85,907	+0.024%	$224K	$3.2M	20x	as long as short
Nado BTC-PERP	+0.0087%	1h	85,903	+0.019%	$23.7M	$188.9M	50x	as long as short
Lighter BTC	+0.0096%	1h	85,920.6	+0.039%	$173.5M	$846.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,915.6	+0.034%	$23.8M	$118.3M	50x	as long as short
Variational Omni BTC	+0.0099%	8h	85,921.3	+0.040%	$157.0M	$473.5M	—	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,899	+0.014%	$221K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,953.3	+0.078%	$5.7M	$7.2M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,961.9	+0.088%	$40.4M	$567.3M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,912	+0.029%	$2.63B	$9.06B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,911	+0.028%	$4.0M	$14.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,926.5	+0.046%	$4.8M	$90.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,017.7	+0.153%	$716.4M	$72.9M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,895.2	+0.010%	$38.7M	$198.2M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,865.1	−0.025%	$289.6M	$721.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,946.3	+0.069%	$215.9M	$134.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,910.2	+0.027%	$137.9M	$285.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,857.8	−0.034%	$30.2M	$227.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,002.4	+0.135%	—	$10.5M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,905	+0.021%	$11.0M	$11.8M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,894.4	+0.009%	$2.6M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,930.4	+0.051%	$143K	$608K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,956.4	+0.081%	$29.1M	$44.3M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,906.3	+0.023%	$3.3M	$6.8M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	85,873.2	−0.016%	$47.5M	$186.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,928	+0.048%	—	$76.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0128%	1h	85,937	+0.059%	$112.6M	$4.96B	50x	as long as short
Kalshi KXBTCPERP	+0.0159%	8h	85,932	+0.053%	$13.2M	$736.5M	6.4x	as long as short
RISEx BTC/USDC	+0.0165%	1h	85,953.3	+0.078%	$9.0M	$35.2M	25x	as long as short
Hyperliquid BTC	+0.0168%	1h	86,005	+0.138%	$3.97B	$4.18B	40x	as long as short
Reya BTCRUSDPERP	+0.0176%	1h	85,884.8	−0.002%	$6.6M	$121.6M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0211% / S −0.0252%	1h	85,919.6	+0.038%	$15.6M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0216%	1h	85,956.5	+0.081%	$819.0M	$1.47B	50x	as long as short
Hibachi BTC/USDT-P	+0.0288%	1h	85,911.7	+0.029%	$694K	$6.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0294%	1h	85,947.8	+0.071%	$79K	$224K	20x	as long as short