Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0074%/8h= +8.2% APRpaid last 24h +0.001%

Price spread now: RISEx against Binance+0.026%7-day average +0.007% · 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−$16as in the Price arb table

costs, in and out, $10k−$180.184% of the position

Long on Binance Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.004%$0 on $10k

Price spread, last 7 days+0.006%+$1 · spread now +0.026%, 7d avg +0.007%

Together, before fees+0.010%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.007%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BTCUSDT	85,630.3	0.0100	pay 0.0100% / 8h	3h 46m	$9.42B	$24.31B	150x
Short	RISEx BTC/USDC	85,652.9	0.0174	get 0.0022% / 1h	46m 12s	$8.7M	$42.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.026%Rate

Funding earned: $15.64
Price spread: +0.026% → +0.007%: $1.92
Slippage, 4 orders: −$2.38
Fee Binance: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$0.83
Costs to cover: 0.184%
Break-even: 7.4 days

Slippage from Binance: live order book, 13 min ago; RISEx: 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 Binance live order book, 13 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.0 bp −$501	6.5 bp −$3,236
Sell RISEx live order book, 3 min ago	0.01 bp	3.0 bp −$3	3.0 bp −$30	9.4 bp −$944	doesn't fit

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	85,589	−0.048%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,642	+0.014%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0038%	8h	85,618.4	−0.014%	$918.7M	$756.2M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,603.7	−0.031%	$418.0M	$675.3M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,632.8	+0.003%	$366K	$2.3M	50x	as long as short
Nado BTC-PERP	−0.0006%	1h	85,622.5	−0.009%	$24.8M	$222.6M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,631.4	+0.001%	$16.8M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,641.5	+0.013%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0010%	8h	85,624.8	−0.006%	$515.6M	$1.10B	200x	as long as short
Injective BTC/USDC PERP	+0.0044%	1h	85,690	+0.070%	$340K	$26.9M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit BTC-PERPETUAL	+0.0045%	1h	85,672.2	+0.049%	$884.0M	$1.59B	50x	as long as short
BingX BTC-USDC	+0.0064%	8h	85,615.4	−0.017%	—	$17.1M	—	as long as short
Phemex BTCUSDT	+0.0066%	8h	85,626.7	−0.004%	$148.7M	$491.2M	150x	as long as short
SoDEX BTC-USD	+0.0081%	1h	85,630	0.000%	$60.0M	$336.1M	40x	as long as short
Bitget BTCUSDT	+0.0081%	8h	85,632.2	+0.002%	$2.96B	$5.11B	150x	as long as short
Reya BTCRUSDPERP	+0.0093%	1h	85,632.2	+0.002%	$6.6M	$147.0M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,642.7	+0.014%	$172.1M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,646.9	+0.019%	$23.9M	$148.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,615	−0.018%	$8.7M	$54.6M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,624.4	−0.007%	$2.5M	$1.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,600	−0.035%	$204K	$8.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,685.3	+0.064%	$5.6M	$9.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,657.8	+0.032%	$40.6M	$584.8M	50x	as long as short
Binance BTCUSDTlong	+0.0100%	8h	85,630.3	long leg	$9.42B	$24.31B	150x
Bybit BTCUSDT	+0.0100%	8h	85,627.6	−0.003%	$5.19B	$9.84B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,638.9	+0.010%	$2.59B	$12.15B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,618	−0.014%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,610.3	−0.023%	$4.4M	$98.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,635	+0.005%	$5.54B	$10.76B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,630.3	0.000%	$5.07B	$5.64B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,599.9	−0.036%	$36.1M	$177.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,614	−0.019%	$153.6M	$564.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,574.2	−0.065%	$279.5M	$926.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,585.1	−0.053%	$215.0M	$169.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,584.8	−0.053%	$139.9M	$315.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,627.5	−0.003%	$30.3M	$207.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,684.6	+0.063%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,632	+0.002%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,633.1	+0.003%	$196K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,627.7	−0.003%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,679.7	+0.058%	$207K	$739K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,624.2	−0.007%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,596.3	−0.040%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,619.7	−0.012%	$2.27B	$946.1M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,665.1	+0.041%	$677.0M	$718.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,606.4	−0.028%	$44.8M	$231.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,617.4	−0.015%	—	$107.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,667.8	+0.044%	$117.1M	$5.22B	50x	as long as short
Hyperliquid BTC	+0.0104%	1h	85,717	+0.101%	$3.79B	$5.02B	40x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,652.1	+0.025%	$188.1M	$956.0M	100x	as long as short
RISEx BTC/USDCshort	+0.0174%	1h	85,652.9	+0.026%	$8.7M	$42.9M	25x
GMX BTC/USD [WBTC.b-USDC]	L +0.0201% / S −0.0177%	1h	85,640.6	+0.012%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0222%	8h	85,658	+0.032%	$12.0M	$756.5M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0234%	1h	85,662.4	+0.038%	$78K	$220K	20x	as long as short
Hibachi BTC/USDT-P	+0.0248%	1h	85,666.9	+0.043%	$697K	$7.9M	30x	as long as short
Perpl BTC	+0.0335%	43m	85,622	−0.010%	$502K	$18.8M	6.7x	as long as short