Settings8H · net · $10k
Funding arb · Price arb /

BTC

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 07:00 UTC−0.0070%/8h= −7.7% APRpaid last 24h −0.011%
Price spread now: dYdX against BingX+0.105%7-day average +0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$270.274% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days−0.090%−$9 on $10k
Price spread, last 7 days−0.042%−$4 · spread now +0.105%, 7d avg +0.036%
Together, before fees−0.132%−$13 on $10k · with fees, hour by hour
The price spread pays, funding is against you. dYdX is 0.069% dearer against BingX than usual: you sell high and buy low (spread +0.105% now, against its 7-day average of +0.036%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.3 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX BTC-USDC85,300.70.0070pay 0.0070% / 8h1h 55m$17.5M
ShortdYdX BTC-USD85,3900get 0.0000% / 1h55m 29s$16.7M$21.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

dYdX 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

Funding earned
−$14.7
Price spread: +0.105% → +0.036%
$6.91
Slippage, 4 orders
−$7.45
Fee BingX: 5 bp × 2 orders
−$10
Fee dYdX: 5 bp × 2 orders
−$10
Net
−$35.24
Costs to cover
0.274%
Break-even
never at this rate
Slippage from BingX: live order book, 13 min ago; dYdX: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 13 min ago0.02 bp5.0 bp −$55.7 bp −$576.5 bp −$6527.7 bp −$3,868
Sell dYdX live order book, 4 min ago0.64 bp10.3 bp −$1014.4 bp −$14424.8 bp −$2,48365.1 bp −$32.5K

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0111%1h85,444+0.168%$2.1M$10.4M40xas long as short
Hotstuff BTC-PERP−0.0080%1h85,437+0.160%$8K$3K50xas long as short
KuCoin XBTUSDTM−0.0049%8h85,318.8+0.021%$926.8M$772.1M125xas long as short
BloFin BTC-USDT−0.0023%8h85,384.4+0.098%$420.4M$683.7M150xas long as short
Aster BTCUSDT−0.0008%8h85,320.7+0.023%$513.0M$1.09B200xas long as short
dYdX BTC-USDshort0.0000%1h85,390+0.105%$16.7M$21.5M50x
01 Exchange BTCUSD0.0000%1h85,350.7+0.059%$354K$2.4M50xas long as short
Perpl BTC0.0000%43m85,364.3+0.075%$528K$18.3M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h85,368.6+0.080%$36.5M200xas long as short
Nado BTC-PERP+0.0034%1h85,354.8+0.063%$24.5M$222.6M50xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective BTC/USDC PERP+0.0057%1h85,405+0.122%$339K$26.8M52xas long as short
BingX BTC-USDClong+0.0070%8h85,300.7long leg$17.5M
Bitget BTCUSDT+0.0087%8h85,326.4+0.030%$2.95B$5.18B150xas long as short
Phemex BTCUSDT+0.0088%8h85,361.2+0.071%$149.4M$508.1M150xas long as short
Kraken Futures PF_XBTUSD+0.0089%1h85,362.9+0.073%$187.8M$955.7M100xas long as short
Lighter BTC+0.0096%1h85,369.1+0.080%$170.6M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h85,370.1+0.081%$23.6M$147.1M50xas long as short
Popdex BTCUSDT+0.0096%1h85,349+0.057%$8.3M$56.0M100xas long as short
Aevo BTC-PERP+0.0096%1h85,348.9+0.056%$2.4M$6.7M20xas long as short
Binance BTCUSDT+0.0097%8h85,322.5+0.026%$9.42B$24.99B150xas long as short
MEXC BTC_USDT+0.0097%8h85,330.1+0.034%$5.01B$5.72B500xas long as short
Deribit BTC-PERPETUAL+0.0097%1h85,394.6+0.110%$866.8M$1.63B50xas long as short
Katana Perps BTC-USD+0.0100%8h85,315+0.017%$238K$8.6M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,408.5+0.126%$5.8M$9.6M50xas long as short
Hyperliquid BTC+0.0100%1h85,414+0.133%$3.75B$5.10B40xas long as short
Pacifica BTC+0.0100%1h85,386+0.100%$40.1M$602.1M50xas long as short
Bybit BTCUSDT+0.0100%8h85,320+0.023%$5.14B$9.99B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,322.1+0.025%$2.59B$12.24B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h85,339+0.045%$3.8M$17.3M25xas long as short
Arcus BTC-USD+0.0100%1h85,353.4+0.062%$4.6M$98.8M40xas long as short
Gate BTC_USDT+0.0100%8h85,325.1+0.029%$5.50B$10.95B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,343.3+0.050%$36.8M$179.8M75xas long as short
Variational Omni BTC+0.0100%8h85,340.9+0.047%$155.1M$558.9Mas long as short
edgeX BTCUSDC+0.0100%4h85,371.2+0.083%$279.6M$950.1M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,385.1+0.099%$214.3M$167.5M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h85,382.8+0.096%$139.6M$314.4M100xas long as short
StandX BTC-USD+0.0100%1h85,377.3+0.090%$30.1M$206.6M40xas long as short
Vest BTC-PERP+0.0100%1h85,404.4+0.122%$10.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,328+0.032%$11.0M$14.6M50xas long as short
Bullet BTC-USD+0.0100%1h85,361.9+0.072%$204K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,329.3+0.034%$2.6M$9.9M100xas long as short
Bluefin BTC-PERP+0.0100%1h85,396.4+0.112%$194K$795K40xas long as short
Derive BTC-PERP+0.0100%1h85,335.3+0.041%$30.0M$48.0M15xas long as short
SunX BTC-USDT+0.0100%8h85,368.5+0.079%$2.9M$6.1M100xas long as short
SoDEX BTC-USD+0.0100%1h85,351+0.059%$59.7M$336.8M40xas long as short
HTX BTC-USDT+0.0100%8h85,366.5+0.077%$2.26B$960.3M200xas long as short
Bulk BTC-USD+0.0100%1h85,476.9+0.207%$684.3M$499.2M40xas long as short
Extended BTC-USD+0.0104%1h85,313.4+0.015%$44.5M$240.6M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h85,364.6+0.075%$106.9M500xas long as short
Coinbase International BTC-PERP-INTX+0.0104%1h85,392.5+0.108%$117.0M$5.46B50xas long as short
Reya BTCRUSDPERP+0.0122%1h85,323.2+0.026%$6.6M$147.6M40xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0175% / S −0.0152%1h85,333.6+0.039%$13.0M200xas long as short
RISEx BTC/USDC+0.0193%1h85,360.4+0.070%$8.8M$43.2M25xas long as short
Kalshi KXBTCPERP+0.0204%8h85,394+0.109%$11.5M$743.3M6.4xas long as short
Hibachi BTC/USDT-P+0.0240%1h85,420.3+0.140%$690K$8.0M30xas long as short
Aftermath Perps BTCUSD+0.0241%1h85,429.6+0.151%$79K$229K20xas long as short