Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.012%

Price spread now: SunX against Arcus+0.001%7-day average −0.028% · 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−$12as in the Price arb table

costs, in and out, $10k−$150.153% of the position

Long on Arcus Short on SunX

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)−0.204%−$20 · spread now +0.001%, 7d avg −0.028%

Together, before fees−0.192%−$19 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: SunX is 0.028% dearer against Arcus than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus BTC-USD	85,393.5	0.0100	pay 0.0013% / 1h	29m 36s	$5.0M	$97.4M	40x
Short	SunX BTC-USDT	85,394.1	0.0100	get 0.0100% / 8h	7h 29m	$3.0M	$6.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.001%Rate

Funding earned: $0
Price spread: +0.001% → −0.028%: $2.84
Slippage, 4 orders: −$2.79
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$12.45
Costs to cover: 0.153%
Break-even: never at this rate

Slippage from Arcus: live order book, 5 min ago; SunX: live order book, 9 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, 5 min ago	0.01 bp	2.3 bp −$2	2.3 bp −$23	3.8 bp −$383	doesn't fit
Sell SunX live order book, 9 min ago	0.15 bp	5.1 bp −$5	6.2 bp −$62	8.5 bp −$852	12.1 bp −$6,067

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	−0.1233%	1h	85,423.3	+0.035%	$194K	$796K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,391	−0.003%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,401.4	+0.009%	$422.4M	$674.9M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,438	+0.052%	$307K	$25.3M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,406	+0.015%	$351K	$2.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,388.1	−0.006%	$36.5M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0017%	8h	85,379.2	−0.017%	$936.2M	$769.4M	125x	as long as short
Aster BTCUSDT	+0.0033%	8h	85,374.3	−0.022%	$502.7M	$1.08B	200x	as long as short
dYdX BTC-USD	+0.0061%	1h	85,425.5	+0.037%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,393.6	0.000%	$185.6M	$934.5M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,542	+0.174%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDC	+0.0080%	8h	85,361.1	−0.038%	—	$17.4M	—	as long as short
Lighter BTC	+0.0096%	1h	85,400.9	+0.009%	$170.9M	$946.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,399.6	+0.007%	$23.5M	$134.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,393	−0.001%	$8.7M	$58.0M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,379.2	−0.017%	$2.4M	$6.7M	20x	as long as short
Nado BTC-PERP	+0.0097%	1h	85,389.7	−0.005%	$24.0M	$215.5M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,361	−0.038%	$265K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,424.9	+0.037%	$5.7M	$9.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,416.1	+0.026%	$40.2M	$602.4M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,381	−0.015%	$9.39B	$24.89B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,382.9	−0.012%	$5.08B	$9.89B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,378.4	−0.018%	$2.61B	$12.01B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,382	−0.013%	$3.9M	$17.2M	25x	as long as short
Arcus BTC-USDlong	+0.0100%	1h	85,393.5	long leg	$5.0M	$97.4M	40x
Bulk BTC-USD	+0.0100%	1h	85,499.9	+0.125%	$701.6M	$160.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,386.7	−0.008%	$5.50B	$9.92B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,379.5	−0.016%	$5.06B	$5.75B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,374	−0.023%	$2.97B	$5.09B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,375.6	−0.021%	$37.6M	$193.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,397.1	+0.004%	$156.0M	$540.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,437.2	+0.051%	$285.6M	$965.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,507.3	+0.133%	$214.8M	$155.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,439.8	+0.054%	$136.7M	$312.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,440	+0.054%	$30.1M	$218.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,470.1	+0.090%	—	$10.0M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,230	−0.191%	$10.9M	$14.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,397.9	+0.005%	$219K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,385.4	−0.009%	$2.7M	$9.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,444.6	+0.060%	$28.8M	$52.4M	15x	as long as short
SunX BTC-USDTshort	+0.0100%	8h	85,394.1	+0.001%	$3.0M	$6.7M	100x
SoDEX BTC-USD	+0.0100%	1h	85,400	+0.008%	$59.8M	$336.3M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,381.2	−0.014%	$2.26B	$969.9M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,388.6	−0.006%	$163.4M	$513.9M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,348.5	−0.053%	$46.0M	$239.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,411.8	+0.021%	—	$106.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,427.6	+0.040%	$111.7M	$5.40B	50x	as long as short
Reya BTCRUSDPERP	+0.0149%	1h	85,369.3	−0.028%	$6.6M	$137.1M	40x	as long as short
Hyperliquid BTC	+0.0157%	1h	85,467	+0.086%	$3.83B	$5.14B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0149%	1h	85,388.1	−0.006%	$13.0M	—	200x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,401.7	+0.010%	$8.9M	$42.3M	25x	as long as short
Kalshi KXBTCPERP	+0.0194%	8h	85,423	+0.035%	$10.6M	$736.3M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0241%	1h	85,433.2	+0.046%	$831.7M	$1.66B	50x	as long as short
Aftermath Perps BTCUSD	+0.0331%	1h	85,465.4	+0.084%	$81K	$260K	20x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	85,451	+0.067%	$688K	$7.6M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,420.9	+0.032%	$459K	$18.1M	6.7x	as long as short