Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h +0.018%

Price spread now: RISEx against BingX+0.025%7-day average +0.048% · 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−$19as in the Price arb table

costs, in and out, $10k−$170.166% of the position

Long on BingX Short on RISEx

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+0.020%+$2 · spread now +0.025%, 7d avg +0.048%

Together, before fees+0.069%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and RISEx is 0.023% cheaper against BingX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BTC-USDC	86,348	0.0037	pay 0.0037% / 8h	1h 04m	—	$15.4M	—
Short	RISEx BTC/USDC	86,369.9	0.0006	get 0.0001% / 1h	4m 29s	$8.4M	$42.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$6.47
Price spread: +0.025% → +0.048%: −$2.31
Slippage, 4 orders: −$0.65
Fee BingX: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$25.42
Costs to cover: 0.166%
Break-even: never at this rate

Slippage from BingX: live order book, 14 min ago; RISEx: live order book, 5 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, 14 min ago	0.01 bp	5.0 bp −$5	5.3 bp −$53	6.5 bp −$653	7.9 bp −$3,942
Sell RISEx live order book, 5 min ago	0.01 bp	3.2 bp −$3	3.2 bp −$32	10.1 bp −$1,014	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
Bluefin BTC-PERP	−0.0498%	1h	86,374.5	+0.031%	$140K	$663K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,349	+0.001%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,355	+0.008%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,377.8	+0.035%	$357K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0010%	8h	86,361.1	+0.015%	$503.1M	$1.15B	200x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,360.5	+0.014%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0005%	8h	86,356.5	+0.010%	$849.3M	$713.4M	125x	as long as short
RISEx BTC/USDCshort	+0.0006%	1h	86,369.9	+0.025%	$8.4M	$42.8M	25x
dYdX BTC-USD	+0.0008%	1h	86,352	+0.005%	$16.9M	$21.1M	50x	as long as short
Deribit BTC-PERPETUAL	+0.0022%	1h	86,378	+0.035%	$917.5M	$1.49B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0023%	1h	86,355.8	+0.009%	$6.7M	$145.1M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,360	+0.014%	$332K	$26.8M	52x	as long as short
BingX BTC-USDClong	+0.0037%	8h	86,348	long leg	—	$15.4M	—
Phemex BTCUSDT	+0.0044%	8h	86,345.5	−0.003%	$149.7M	$477.4M	150x	as long as short
Bitget BTCUSDT	+0.0048%	8h	86,365.7	+0.020%	$2.95B	$5.11B	150x	as long as short
MEXC BTC_USDT	+0.0064%	8h	86,365.1	+0.020%	$5.13B	$5.72B	500x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,336.8	−0.013%	$2.4M	$1.3M	20x	as long as short
Aftermath Perps BTCUSD	+0.0064%	1h	86,382.9	+0.040%	$80K	$219K	20x	as long as short
Binance BTCUSDT	+0.0065%	8h	86,365.1	+0.020%	$9.41B	$24.48B	150x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,362.8	+0.017%	$5.84B	$10.78B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,369	+0.024%	$170.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,381.3	+0.039%	$24.0M	$153.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,366	+0.021%	$8.4M	$52.4M	100x	as long as short
Bybit BTCUSDT	+0.0096%	8h	86,369.9	+0.025%	$5.26B	$9.80B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,338	−0.012%	$205K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,398.8	+0.059%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,359	+0.013%	$21.8M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,430	+0.095%	$3.79B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,390.4	+0.049%	$40.7M	$517.9M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,373.3	+0.029%	$2.54B	$12.69B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,361	+0.015%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,415.6	+0.078%	$7.7M	$94.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,320.9	−0.031%	$570.7M	$18.4M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,336.8	−0.013%	$37.8M	$154.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,349.5	+0.002%	$155.5M	$568.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,273.7	−0.086%	$278.9M	$945.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,335.7	−0.014%	$216.9M	$174.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,285.8	−0.072%	$141.1M	$323.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,341	−0.008%	$30.6M	$204.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,403.5	+0.064%	—	$11.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,359	+0.013%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,347.2	−0.001%	$191K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,349	+0.001%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,374.8	+0.031%	$30.5M	$62.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,326.3	−0.025%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,347	−0.001%	$60.4M	$337.3M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,335.7	−0.014%	$2.29B	$968.7M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,346	−0.002%	$45.6M	$226.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,353	+0.006%	—	$98.9M	500x	as long as short
Perpl BTC	+0.0112%	43m	86,343.1	−0.006%	$418K	$23.5M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,384.9	+0.043%	$131.9M	$5.68B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,366	+0.021%	$191.8M	$946.6M	100x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	86,334	−0.016%	$719K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0185%	8h	86,347.3	−0.001%	$414.6M	$653.8M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0188% / S −0.0211%	1h	86,354.3	+0.007%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0199%	8h	86,360	+0.014%	$9.6M	$736.2M	6.4x	as long as short