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

BTC

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 08:00 UTC+0.0048%/8h= +5.3% APRnext payment +$0.48 per $10,000 · paid last 24h +0.021%
Price spread now: SunX against BingX+0.069%7-day average · you sell dearer than you buy
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$210.207% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.043%+$4 on $10k
Price spread, last 7 daysno price history on both exchanges yet
Together, before feesneeds both histories
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and SunX is 0.069% dearer against BingX than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX BTC-USDT85,786.30.0052pay 0.0052% / 8h6h 48m$1.59B
ShortSunX BTC-USDT85,845.80.0100get 0.0100% / 8h6h 48m$2.9M$6.6M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SunX 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
$10.08
Price spread: +0.069% → 0.000%
$6.94
Slippage, 4 orders
−$2.75
Fee BingX: 5 bp × 2 orders
−$10
Fee SunX: 4 bp × 2 orders
−$8
Net
−$3.73
Costs to cover
0.207%
Break-even
9.6 days
Slippage from BingX: live order book, 6 min ago; SunX: live order book, 10 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, 6 min ago0.01 bp5.0 bp −$55.3 bp −$535.8 bp −$5756.1 bp −$3,047
Sell SunX live order book, 10 min ago0.81 bp4.9 bp −$55.5 bp −$557.9 bp −$78825.3 bp −$12.7K

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−0.0144%1h85,788+0.002%$2.2M$10.5M40xas long as short
Hotstuff BTC-PERP−0.0080%1h85,897+0.129%$8K$3K50xas long as short
BloFin BTC-USDT−0.0078%8h85,853+0.078%$415.8M$658.2M150xas long as short
01 Exchange BTCUSD−0.0056%1h85,814.1+0.032%$364K$2.3M50xas long as short
ApeX Omni BTCUSDT−0.0018%1h85,787.3+0.001%$140.3M$320.8M100xas long as short
dYdX BTC-USD0.0000%1h85,880.2+0.109%$16.8M$20.6M50xas long as short
Perpl BTC0.0000%43m85,857.1+0.083%$513K$21.3M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h85,787.6+0.002%$36.7M200xas long as short
Injective BTC/USDC PERP+0.0020%1h85,810+0.028%$341K$26.9M52xas long as short
Aster BTCUSDT+0.0034%8h85,826.3+0.047%$498.0M$1.13B200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin XBTUSDTM+0.0041%8h85,777.4−0.010%$893.9M$757.1M125xas long as short
RISEx BTC/USDC+0.0044%1h85,836.7+0.059%$8.1M$42.6M25xas long as short
BingX BTC-USDTlong+0.0052%8h85,786.3long leg$1.59B
Reya BTCRUSDPERP+0.0053%1h85,765.5−0.024%$6.7M$146.0M40xas long as short
HTX BTC-USDT+0.0067%8h85,832.7+0.054%$2.28B$968.8M200xas long as short
Bitget BTCUSDT+0.0067%8h85,800+0.016%$2.95B$5.13B150xas long as short
Nado BTC-PERP+0.0078%1h85,793.4+0.008%$22.5M$228.8M50xas long as short
Aevo BTC-PERP+0.0080%1h85,797.9+0.014%$2.5M$1.8M20xas long as short
MEXC BTC_USDT+0.0082%8h85,772.2−0.016%$5.09B$5.66B500xas long as short
Binance BTCUSDT+0.0085%8h85,784.9−0.002%$9.34B$24.58B150xas long as short
Gate BTC_USDT+0.0087%8h85,785.7−0.001%$5.66B$10.37B200xas long as short
Lighter BTC+0.0096%1h85,862.8+0.089%$170.9M$976.6M50xas long as short
Lighter RH BTC+0.0096%1h85,867.7+0.095%$23.4M$145.1M50xas long as short
GRVT BTC_USDT_Perp+0.0096%8h85,757.5−0.034%$215.4M$162.7M50xas long as short
Popdex BTCUSDT+0.0096%1h85,833+0.054%$8.4M$52.5M100xas long as short
Katana Perps BTC-USD+0.0100%8h85,801+0.017%$200K$7.5M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,865+0.092%$3.8M$8.8M50xas long as short
Hyperliquid BTC+0.0100%1h85,861+0.087%$3.77B$5.03B40xas long as short
Pacifica BTC+0.0100%1h85,881.2+0.111%$40.9M$569.6M50xas long as short
Bybit BTCUSDT+0.0100%8h85,800.3+0.016%$5.26B$9.81B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,810.2+0.028%$2.55B$12.54B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h85,842+0.065%$3.9M$17.9M25xas long as short
Arcus BTC-USD+0.0100%1h85,812.5+0.031%$7.2M$98.0M40xas long as short
Bulk BTC-USD+0.0100%1h85,888.3+0.119%$579.3M$92.3M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,869.1+0.097%$35.2M$163.2M75xas long as short
Variational Omni BTC+0.0100%8h85,782.9−0.004%$155.6M$556.1Mas long as short
edgeX BTCUSDC+0.0100%4h85,687.9−0.115%$277.7M$941.4M100xas long as short
StandX BTC-USD+0.0100%1h85,854.5+0.079%$30.4M$206.7M40xas long as short
Vest BTC-PERP+0.0100%1h85,857.7+0.083%$11.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,800+0.016%$11.0M$14.2M50xas long as short
Bullet BTC-USD+0.0100%1h85,780.3−0.007%$191K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,797.6+0.013%$2.4M$9.1M100xas long as short
Bluefin BTC-PERP+0.0100%1h85,830.8+0.052%$186K$709K40xas long as short
Derive BTC-PERP+0.0100%1h85,805.1+0.022%$30.0M$57.4M15xas long as short
SunX BTC-USDTshort+0.0100%8h85,845.8+0.069%$2.9M$6.6M100x
SoDEX BTC-USD+0.0100%1h85,798+0.014%$60.1M$338.0M40xas long as short
Phemex BTCUSDT+0.0100%8h85,861.3+0.087%$153.9M$477.1M150xas long as short
Extended BTC-USD+0.0104%1h85,785.4−0.001%$44.8M$227.0M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h85,897.4+0.130%$101.4M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h85,839+0.061%$131.6M$5.26B50xas long as short
Hibachi BTC/USDT-P+0.0128%1h85,874.1+0.102%$710K$8.0M30xas long as short
Kraken Futures PF_XBTUSD+0.0146%1h85,820.4+0.040%$189.2M$970.1M100xas long as short
Aftermath Perps BTCUSD+0.0151%1h85,834.6+0.056%$77K$217K20xas long as short
Deribit BTC-PERPETUAL+0.0186%1h85,841.4+0.064%$895.2M$1.54B50xas long as short
Kalshi KXBTCPERP+0.0204%8h85,890+0.121%$9.9M$768.8M6.4xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0204% / S −0.0194%1h85,786.20.000%$13.8M200xas long as short