Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.001%

Price spread now: dYdX against BloFin+0.028%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on BloFin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 4 days (all we have)+0.003%$0 · spread now +0.028%, 7d avg +0.017%

Together, before fees−0.138%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.017%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.141%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BTC-USDT	85,428.7	−0.0030	get 0.0030% / 8h	2h 48m	$420.6M	$676.4M	150x
Short	dYdX BTC-USD	85,452.6	0.0003	get 0.0000% / 1h	48m 58s	$16.8M	$21.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BloFin. 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 BloFinbpFee dYdXbpOrdersPrice spread, now +0.028%Rate

Funding earned: $6.83
Price spread: +0.028% → +0.017%: $1.07
Slippage, 4 orders: −$14.9
Fee BloFin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$29
Costs to cover: 0.369%
Break-even: 36.7 days

Slippage from BloFin: live order book, 5 min ago; dYdX: 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 BloFin live order book, 5 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.7 bp −$673	7.6 bp −$3,812
Sell dYdX live order book, 5 min ago	4.45 bp	9.5 bp −$9	9.5 bp −$95	12.1 bp −$1,207	38.5 bp −$19.2K

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	−0.0111%	1h	85,432	+0.004%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,459	+0.035%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0054%	8h	85,412.7	−0.019%	$920.9M	$760.8M	125x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	85,441.9	+0.015%	$381K	$2.3M	50x	as long as short
BloFin BTC-USDTlong	−0.0030%	8h	85,428.7	long leg	$420.6M	$676.4M	150x
Aster BTCUSDT	−0.0011%	8h	85,422.4	−0.007%	$514.0M	$1.10B	200x	as long as short
Perpl BTC	0.0000%	43m	85,435.4	+0.008%	$532K	$18.8M	6.7x	as long as short
dYdX BTC-USDshort	+0.0003%	1h	85,452.6	+0.028%	$16.8M	$21.3M	50x
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,447.4	+0.022%	$36.5M	—	200x	as long as short
Nado BTC-PERP	+0.0009%	1h	85,445	+0.019%	$24.6M	$223.8M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0023%	1h	85,449	+0.024%	$339K	$26.8M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,441.7	+0.015%	$187.6M	$954.6M	100x	as long as short
BingX BTC-USDC	+0.0064%	8h	85,411.1	−0.021%	—	$17.3M	—	as long as short
Bullet BTC-USD	+0.0067%	1h	85,431	+0.003%	$203K	$3.3M	20x	as long as short
Phemex BTCUSDT	+0.0071%	8h	85,431.1	+0.003%	$149.4M	$500.8M	150x	as long as short
ApeX Omni BTCUSDT	+0.0076%	1h	85,463	+0.040%	$139.7M	$315.4M	100x	as long as short
Bitget BTCUSDT	+0.0081%	8h	85,427	−0.002%	$2.95B	$5.15B	150x	as long as short
SoDEX BTC-USD	+0.0083%	1h	85,426	−0.003%	$59.9M	$335.9M	40x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,424.5	−0.005%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0090%	8h	85,424.1	−0.005%	$5.08B	$5.67B	500x	as long as short
Binance BTCUSDT	+0.0090%	8h	85,424.7	−0.005%	$9.44B	$24.71B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,429.9	+0.001%	$171.8M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,439.8	+0.013%	$23.9M	$147.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,442	+0.016%	$8.4M	$55.4M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,459.9	+0.037%	$117.0M	$5.31B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,414	−0.017%	$238K	$8.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,515.4	+0.102%	$5.6M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,509	+0.094%	$3.78B	$5.03B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,478	+0.058%	$40.1M	$595.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,422.2	−0.008%	$5.18B	$9.89B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,430.1	+0.002%	$2.59B	$12.14B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,421	−0.009%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,443.1	+0.017%	$4.7M	$99.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,428.2	−0.001%	$5.54B	$10.80B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,418.7	−0.012%	$36.6M	$175.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,453.4	+0.029%	$154.3M	$564.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,371.3	−0.067%	$279.2M	$937.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,475.7	+0.055%	$214.8M	$169.0M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,466.1	+0.044%	$30.1M	$206.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,504.5	+0.089%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,432	+0.004%	$11.1M	$14.4M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,428	−0.001%	$2.5M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,485.9	+0.067%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,412.8	−0.019%	$30.0M	$50.3M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,423.1	−0.007%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,425.5	−0.004%	$2.26B	$952.0M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,429	0.000%	$679.8M	$655.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,400.1	−0.034%	$45.8M	$236.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,457.5	+0.034%	—	$106.8M	500x	as long as short
Reya BTCRUSDPERP	+0.0109%	1h	85,427.1	−0.002%	$6.6M	$147.3M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0147%	1h	85,472.6	+0.051%	$872.2M	$1.60B	50x	as long as short
Kalshi KXBTCPERP	+0.0174%	8h	85,470	+0.048%	$11.4M	$750.0M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,445.7	+0.020%	$13.0M	—	200x	as long as short
Aftermath Perps BTCUSD	+0.0237%	1h	85,472.2	+0.051%	$78K	$225K	20x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,506.5	+0.091%	$695K	$7.9M	30x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,469.4	+0.048%	$8.8M	$43.1M	25x	as long as short