Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: SoDEX against Arcus−0.062%7-day average −0.024% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$140.138% of the position

Long on Arcus Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.017%−$2 on $10k

Price spread, last 3 days (all we have)−0.005%$0 · spread now −0.062%, 7d avg −0.024%

Together, before fees−0.021%−$2 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: SoDEX is 0.038% cheaper against Arcus than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus BTC-USD	86,408.7	0.0100	pay 0.0013% / 1h	6m 03s	$7.8M	$94.9M	40x
Short	SoDEX BTC-USD	86,355	0.0100	get 0.0013% / 1h	6m 03s	$60.4M	$337.3M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.062%Rate

Funding earned: $0
Price spread: −0.062% → −0.024%: −$3.79
Slippage, 4 orders: −$1.34
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$17.62
Costs to cover: 0.138%
Break-even: never at this rate

Slippage from Arcus: live order book, 3 min ago; SoDEX: live order book, 3 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 Arcus live order book, 3 min ago	0.01 bp	3.5 bp −$3	5.2 bp −$52	6.8 bp −$680	doesn't fit
Sell SoDEX live order book, 3 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.1 bp −$505	41.9 bp −$21.0K

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
Bluefin BTC-PERP	−0.0520%	1h	86,389.6	−0.022%	$140K	$663K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,349	−0.069%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,345	−0.074%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,365.9	−0.050%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0011%	8h	86,351.2	−0.067%	$503.0M	$1.15B	200x	as long as short
KuCoin XBTUSDTM	+0.0004%	8h	86,346.8	−0.072%	$849.1M	$713.7M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,371.8	−0.043%	$36.8M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,359.6	−0.057%	$8.4M	$42.8M	25x	as long as short
dYdX BTC-USD	+0.0007%	1h	86,352	−0.066%	$16.9M	$21.1M	50x	as long as short
Deribit BTC-PERPETUAL	+0.0021%	1h	86,387.8	−0.024%	$917.4M	$1.49B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0023%	1h	86,348.2	−0.070%	$6.7M	$145.0M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,360	−0.056%	$332K	$26.8M	52x	as long as short
BingX BTC-USDC	+0.0037%	8h	86,338.6	−0.081%	—	$15.4M	—	as long as short
Phemex BTCUSDT	+0.0042%	8h	86,356.6	−0.060%	$149.9M	$477.1M	150x	as long as short
Bitget BTCUSDT	+0.0047%	8h	86,315.9	−0.107%	$2.95B	$5.11B	150x	as long as short
Aftermath Perps BTCUSD	+0.0063%	1h	86,385.3	−0.027%	$80K	$219K	20x	as long as short
MEXC BTC_USDT	+0.0064%	8h	86,317.1	−0.106%	$5.13B	$5.72B	500x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,346.9	−0.072%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0065%	8h	86,344.8	−0.074%	$9.40B	$24.49B	150x	as long as short
Gate BTC_USDT	+0.0080%	8h	86,350.3	−0.068%	$5.84B	$10.78B	200x	as long as short
Bybit BTCUSDT	+0.0095%	8h	86,336.2	−0.084%	$5.25B	$9.80B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,357.3	−0.059%	$170.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,371.1	−0.044%	$24.0M	$152.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,357	−0.060%	$8.4M	$52.4M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,341	−0.078%	$204K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,323.4	−0.099%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,352.4	−0.065%	$21.8M	$234.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,422	+0.015%	$3.79B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,393.3	−0.018%	$40.7M	$517.9M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,319.9	−0.103%	$2.54B	$12.70B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,372	−0.042%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USDlong	+0.0100%	1h	86,408.7	long leg	$7.8M	$94.9M	40x
Bulk BTC-USD	+0.0100%	1h	86,320.9	−0.102%	$570.7M	$18.4M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,345.3	−0.073%	$37.8M	$154.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,316.3	−0.107%	$155.5M	$568.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,321.8	−0.101%	$279.0M	$944.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,335.7	−0.084%	$216.9M	$174.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,333	−0.088%	$141.1M	$323.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,324.9	−0.097%	$30.6M	$204.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,396.1	−0.015%	—	$11.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,354	−0.063%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,359.9	−0.056%	$190K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,358.2	−0.058%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,381	−0.032%	$30.6M	$62.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,332.5	−0.088%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USDshort	+0.0100%	1h	86,355	−0.062%	$60.4M	$337.3M	40x
HTX BTC-USDT	+0.0100%	8h	86,355.8	−0.061%	$2.29B	$968.8M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,295.6	−0.131%	$45.6M	$226.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,372.6	−0.042%	—	$98.9M	500x	as long as short
Perpl BTC	+0.0112%	43m	86,386.6	−0.026%	$420K	$23.5M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,394.9	−0.016%	$131.8M	$5.68B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,375.2	−0.039%	$191.9M	$946.7M	100x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	86,334	−0.087%	$719K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0184%	8h	86,325.3	−0.097%	$414.6M	$653.5M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0187% / S −0.0210%	1h	86,366.8	−0.048%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0199%	8h	86,381	−0.032%	$9.5M	$736.0M	6.4x	as long as short