Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.012%

Price spread now: Orderly against Arcus−0.005%7-day average −0.019% · you buy dearer than you sell

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

Long on Arcus Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now −0.005%, 7d avg −0.019%

Together, before fees−0.018%−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus BTC-USD	85,435.8	0.0100	pay 0.0013% / 1h	5m 03s	$5.1M	$96.0M	40x
Short	Orderly PERP_BTC_USDC	85,431.5	0.0100	get 0.0100% / 8h	1h 05m	$2.6M	$9.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Arcus. 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 ArcusbpFee OrderlybpOrdersPrice spread, now −0.005%Rate

Funding earned: $0
Price spread: −0.005% → −0.019%: $1.38
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$9.12
Costs to cover: 0.105%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 4 min ago; Orderly: 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 Arcus live order book, 4 min ago	0.01 bp	2.3 bp −$2	2.3 bp −$23	3.5 bp −$345	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 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	−0.0082%	1h	85,520	+0.099%	$2.3M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,456	+0.024%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0033%	8h	85,429.4	−0.008%	$929.0M	$772.9M	125x	as long as short
BloFin BTC-USDT	−0.0022%	8h	85,455	+0.022%	$421.8M	$681.5M	150x	as long as short
Aster BTCUSDT	−0.0003%	8h	85,421.2	−0.017%	$512.8M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,444.2	+0.010%	$353K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,439.3	+0.004%	$492K	$18.3M	6.7x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,475.9	+0.047%	$16.7M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,445.5	+0.011%	$36.5M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0034%	1h	85,467	+0.037%	$853.6M	$1.64B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0045%	1h	85,459.2	+0.027%	$24.1M	$219.8M	50x	as long as short
Injective BTC/USDC PERP	+0.0057%	1h	85,486	+0.059%	$339K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0074%	8h	85,429.8	−0.007%	—	$1.57B	—	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,439.7	+0.005%	$186.0M	$951.1M	100x	as long as short
Bitget BTCUSDT	+0.0092%	8h	85,416.9	−0.022%	$2.97B	$5.15B	150x	as long as short
Bybit BTCUSDT	+0.0093%	8h	85,415	−0.024%	$5.14B	$9.96B	150x	as long as short
SoDEX BTC-USD	+0.0095%	1h	85,425	−0.013%	$59.8M	$336.6M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,439.9	+0.005%	$169.7M	$1.03B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,439.6	+0.004%	$23.6M	$148.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,460	+0.028%	$8.4M	$57.2M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,447.2	+0.013%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0097%	8h	85,425.1	−0.013%	$5.04B	$5.78B	500x	as long as short
Binance BTCUSDT	+0.0098%	8h	85,418.4	−0.020%	$9.42B	$24.86B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,425	−0.013%	$245K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,509	+0.086%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,506	+0.082%	$3.75B	$5.06B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,484.2	+0.057%	$40.4M	$603.0M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,424.4	−0.013%	$2.60B	$12.19B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,442	+0.007%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USDlong	+0.0100%	1h	85,435.8	long leg	$5.1M	$96.0M	40x
Gate BTC_USDT	+0.0100%	8h	85,433.3	−0.003%	$5.55B	$11.09B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,418.8	−0.020%	$37.4M	$182.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,432.9	−0.003%	$156.6M	$557.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,406.3	−0.035%	$279.8M	$952.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,439.5	+0.004%	$214.5M	$163.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,439.8	+0.005%	$139.7M	$313.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,428.5	−0.009%	$30.1M	$207.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,497.2	+0.072%	—	$10.2M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,440	+0.005%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,439	+0.004%	$199K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDCshort	+0.0100%	8h	85,431.5	−0.005%	$2.6M	$9.8M	100x
Bluefin BTC-PERP	+0.0100%	1h	85,468.7	+0.039%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,451.8	+0.019%	$30.0M	$46.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,464.8	+0.034%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,431.8	−0.005%	$2.26B	$962.6M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,442.4	+0.008%	$157.1M	$512.1M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,413.1	−0.027%	$689.0M	$342.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,393.4	−0.050%	$45.2M	$240.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,470.9	+0.041%	—	$104.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,459.8	+0.028%	$113.0M	$5.48B	50x	as long as short
Reya BTCRUSDPERP	+0.0134%	1h	85,429.2	−0.008%	$6.6M	$147.7M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0150%	1h	85,446.9	+0.013%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0176%	8h	85,483	+0.055%	$12.0M	$739.0M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,463.5	+0.032%	$8.8M	$42.7M	25x	as long as short
Hibachi BTC/USDT-P	+0.0208%	1h	85,495.5	+0.070%	$685K	$7.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0264%	1h	85,484.9	+0.057%	$79K	$242K	20x	as long as short