Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.010%

Price spread now: Arcus against BingX+0.002%7-day average +0.073% · 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−$22as in the Price arb table

costs, in and out, $10k−$150.148% of the position

Long on BingX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.048%+$5 on $10k

Price spread, last 7 days+0.034%+$3 · spread now +0.002%, 7d avg +0.073%

Together, before fees+0.082%+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.070% cheaper against BingX than usual: you would sell low and buy high (spread +0.002% now, against its 7-day average of +0.073%). If the spread goes back, that is −$7 on $10k: about 4.9 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BTC-USDC	86,129.3	0.0052	pay 0.0052% / 8h	7h 07m	—	$15.2M	—
Short	Arcus BTC-USD	86,131.4	0.0100	get 0.0013% / 1h	7m 42s	$7.2M	$95.0M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against BingX. 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 BingXbpFee ArcusbpOrdersPrice spread, now +0.002%Rate

Funding earned: $10.08
Price spread: +0.002% → +0.073%: −$7.01
Slippage, 4 orders: −$0.33
Fee BingX: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$11.76
Costs to cover: 0.148%
Break-even: 15.2 days

Slippage from BingX: live order book, 16 min ago; Arcus: live order book, 6 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 BingX live order book, 16 min ago	0.01 bp	5.0 bp −$5	5.3 bp −$53	6.6 bp −$664	8.0 bp −$4,013
Sell Arcus live order book, 6 min ago	0.01 bp	2.3 bp −$2	2.8 bp −$28	4.0 bp −$405	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	−0.0129%	1h	86,215	+0.100%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,158	+0.033%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	86,113.1	−0.019%	$363K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	86,127.2	−0.002%	$582K	$21.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,166.4	+0.043%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,365	+0.274%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0025%	1h	86,156.2	+0.031%	$16.9M	$20.5M	50x	as long as short
Aster BTCUSDT	+0.0031%	8h	86,151.1	+0.025%	$499.5M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0043%	8h	86,131	+0.002%	$828.3M	$715.4M	125x	as long as short
Bluefin BTC-PERP	+0.0043%	1h	86,176.2	+0.054%	$144K	$666K	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0049%	1h	86,134.8	+0.006%	$6.7M	$145.8M	40x	as long as short
BingX BTC-USDClong	+0.0052%	8h	86,129.3	long leg	—	$15.2M	—
RISEx BTC/USDC	+0.0052%	1h	86,121.5	−0.009%	$8.2M	$42.4M	25x	as long as short
Bitget BTCUSDT	+0.0066%	8h	86,143	+0.016%	$2.97B	$5.04B	150x	as long as short
SoDEX BTC-USD	+0.0074%	1h	86,145	+0.018%	$60.4M	$338.3M	40x	as long as short
HTX BTC-USDT	+0.0077%	8h	86,124.9	−0.005%	$2.29B	$957.4M	200x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,141.2	+0.014%	$2.5M	$1.8M	20x	as long as short
Binance BTCUSDT	+0.0083%	8h	86,142.2	+0.015%	$9.37B	$24.23B	150x	as long as short
MEXC BTC_USDT	+0.0084%	8h	86,142.3	+0.015%	$5.10B	$5.76B	500x	as long as short
Phemex BTCUSDT	+0.0085%	8h	86,144.9	+0.018%	$155.9M	$473.3M	150x	as long as short
Gate BTC_USDT	+0.0088%	8h	86,149.9	+0.024%	$5.77B	$10.65B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,163.2	+0.039%	$170.2M	$994.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,167.9	+0.045%	$23.6M	$152.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,114	−0.018%	$8.4M	$52.1M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,088	−0.048%	$199K	$7.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,176.5	+0.055%	$4.2M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,134.9	+0.007%	$22.1M	$225.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,211	+0.095%	$3.77B	$4.96B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,170.6	+0.048%	$40.8M	$560.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,153.2	+0.028%	$5.25B	$9.63B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,154.3	+0.029%	$2.56B	$12.40B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,148	+0.022%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USDshort	+0.0100%	1h	86,131.4	+0.002%	$7.2M	$95.0M	40x
Backpack BTC_USDC_PERP	+0.0100%	1h	86,116	−0.015%	$35.5M	$161.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,205.5	+0.089%	$156.7M	$558.7M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,200.1	+0.082%	$278.4M	$938.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,266	+0.159%	$216.6M	$165.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,239.5	+0.128%	$141.2M	$320.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,190	+0.070%	$30.6M	$207.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,189	+0.069%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,138	+0.010%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,143.1	+0.016%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,143.3	+0.016%	$2.4M	$9.1M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,164.6	+0.041%	$30.3M	$57.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,116.8	−0.015%	$3.3M	$5.4M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,141.5	+0.014%	$581.0M	$76.4M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,123.2	−0.007%	$46.0M	$222.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,162.3	+0.038%	—	$98.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,185.3	+0.065%	$132.0M	$5.28B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,177.9	+0.056%	$191.2M	$951.4M	100x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	86,193.1	+0.074%	$731K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0169%	1h	86,246.9	+0.137%	$77K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0204%	8h	86,134	+0.005%	$415.3M	$640.2M	150x	as long as short
Kalshi KXBTCPERP	+0.0206%	8h	86,156	+0.031%	$10.5M	$766.5M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0222%	1h	86,164.9	+0.041%	$14.5M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0219%	1h	86,202.4	+0.085%	$902.6M	$1.51B	50x	as long as short