Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: edgeX against Binance+0.021%70s7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.190% of the position

Long on Binance Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.184%−$18 on $10k

Price spread, last 7 days−0.044%−$4 · spread now +0.021%, 7d avg −0.040%

Together, before fees−0.228%+ Points / potential airdropedgeX: Active · farm board−$23 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: edgeX is 0.061% dearer against Binance than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.040%. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BTCUSDT	85,505.7	0.0100	pay 0.0100% / 8h	3h 28m	$9.42B	$24.41B	150x
Short	edgeX BTCUSDC	85,523.9	0.0100	get 0.0050% / 4h	3h 28m	$279.4M	$928.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Binance. 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 BinancebpFee edgeXbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0
Price spread: +0.021% → −0.040%: $6.15
Slippage, 4 orders: −$0.05
Fee Binance: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$12.9
Costs to cover: 0.190%
Break-even: never at this rate

Slippage from Binance: live order book, 16 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 Binance live order book, 16 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.5 bp −$553	7.1 bp −$3,574
Sell edgeX live order book, 1 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	4.8 bp −$483	5.7 bp −$2,869

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	−0.0140%	1h	85,533	+0.032%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,540	+0.040%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0041%	8h	85,508.8	+0.004%	$919.2M	$756.9M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,514.6	+0.010%	$419.1M	$675.9M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,533.8	+0.033%	$365K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,533.3	+0.032%	$503K	$18.7M	6.7x	as long as short
Aster BTCUSDT	+0.0002%	8h	85,504.9	−0.001%	$514.9M	$1.10B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,521.1	+0.018%	$36.5M	—	200x	as long as short
Nado BTC-PERP	+0.0005%	1h	85,524.4	+0.022%	$24.6M	$223.3M	50x	as long as short
dYdX BTC-USD	+0.0029%	1h	85,574.9	+0.081%	$16.8M	$21.2M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0044%	1h	85,514	+0.010%	$339K	$26.9M	52x	as long as short
Deribit BTC-PERPETUAL	+0.0058%	1h	85,547.6	+0.049%	$884.5M	$1.59B	50x	as long as short
BingX BTC-USDC	+0.0065%	8h	85,494.1	−0.014%	—	$17.1M	—	as long as short
SoDEX BTC-USD	+0.0072%	1h	85,502	−0.004%	$59.9M	$335.9M	40x	as long as short
Phemex BTCUSDT	+0.0073%	8h	85,507.7	+0.002%	$148.3M	$495.3M	150x	as long as short
Bitget BTCUSDT	+0.0080%	8h	85,500.9	−0.006%	$2.95B	$5.12B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,520.7	+0.017%	$172.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,538.6	+0.038%	$24.0M	$148.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,520	+0.017%	$8.4M	$54.9M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,493.7	−0.014%	$2.7M	$2.0M	20x	as long as short
Reya BTCRUSDPERP	+0.0099%	1h	85,511.5	+0.007%	$6.6M	$147.1M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,520	+0.017%	$208K	$8.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,549.3	+0.051%	$5.7M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,599	+0.109%	$3.79B	$5.02B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,563.2	+0.067%	$40.1M	$588.0M	50x	as long as short
Binance BTCUSDTlong	+0.0100%	8h	85,505.7	long leg	$9.42B	$24.41B	150x
Bybit BTCUSDT	+0.0100%	8h	85,502.1	−0.004%	$5.18B	$9.86B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,510	+0.005%	$2.59B	$12.13B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,522	+0.019%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,527.7	+0.026%	$4.7M	$100.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,517.4	+0.014%	$680.3M	$725.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,511.8	+0.007%	$5.54B	$10.81B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,512.9	+0.008%	$5.08B	$5.66B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,508.2	+0.003%	$36.2M	$179.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,584.9	+0.093%	$154.4M	$565.9M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	85,523.9	+0.021%	$279.4M	$928.0M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,590.3	+0.099%	$215.1M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,591	+0.100%	$139.9M	$315.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,549	+0.051%	$30.2M	$207.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,583.4	+0.091%	—	$11.2M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,519	+0.016%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,510	+0.005%	$197K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,506.9	+0.001%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,546.9	+0.048%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,498.3	−0.009%	$30.0M	$50.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,501.2	−0.005%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,499.9	−0.007%	$2.26B	$948.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,472.8	−0.039%	$45.0M	$233.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,533.5	+0.032%	—	$107.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,539.2	+0.039%	$117.3M	$5.25B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,524.8	+0.022%	$187.7M	$954.6M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,568.4	+0.073%	$8.7M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0149%	1h	85,521.6	+0.019%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0197%	8h	85,557	+0.060%	$11.7M	$754.6M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0246%	1h	85,550.3	+0.052%	$78K	$221K	20x	as long as short
Hibachi BTC/USDT-P	+0.0248%	1h	85,568	+0.073%	$697K	$7.9M	30x	as long as short