Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.009%

Price spread now: Bybit against edgeX−0.036%101s7-day average +0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.201% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.174%+$17 on $10k

Price spread, last 7 days+0.051%+$5 · spread now −0.036%, 7d avg +0.040%

Together, before fees+0.225%+ Points / potential airdropedgeX: Active · farm board+$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.076% cheaper against edgeX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.040%. The two prices were read 101 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BTCUSDC	85,619.2	0.0100	pay 0.0050% / 4h	3h 49m	$279.6M	$925.3M	100x
Short	Bybit BTCUSDT	85,588.3	0.0100	get 0.0100% / 8h	3h 49m	$5.19B	$9.84B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against edgeX. 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 edgeXbpFee BybitbpOrdersPrice spread, now −0.036%Rate

Funding earned: $0
Price spread: −0.036% → +0.040%: −$7.63
Slippage, 4 orders: −$0.08
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$27.71
Costs to cover: 0.201%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; Bybit: live order book, 4 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 edgeX live order book, 4 min ago	0.04 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$472	5.6 bp −$2,823
Sell Bybit live order book, 4 min ago	0.01 bp	5.5 bp −$6	5.9 bp −$59	6.8 bp −$681	8.1 bp −$4,054

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	−0.0140%	1h	85,690	+0.083%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,637	+0.021%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0037%	8h	85,596.4	−0.027%	$917.1M	$756.1M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,606.8	−0.014%	$417.7M	$675.3M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,605.5	−0.016%	$366K	$2.3M	50x	as long as short
Nado BTC-PERP	0.0000%	1h	85,586.9	−0.038%	$24.8M	$222.7M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,625.7	+0.008%	$16.8M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,607.8	−0.013%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0011%	8h	85,587	−0.038%	$515.4M	$1.10B	200x	as long as short
Deribit BTC-PERPETUAL	+0.0031%	1h	85,627	+0.009%	$884.7M	$1.59B	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	+0.0044%	1h	85,690	+0.083%	$340K	$26.9M	52x	as long as short
BingX BTC-USDC	+0.0063%	8h	85,579.4	−0.046%	—	$17.2M	—	as long as short
Phemex BTCUSDT	+0.0071%	8h	85,605	−0.017%	$148.7M	$490.5M	150x	as long as short
SoDEX BTC-USD	+0.0078%	1h	85,593	−0.031%	$60.0M	$336.0M	40x	as long as short
Bitget BTCUSDT	+0.0081%	8h	85,600.5	−0.022%	$2.96B	$5.11B	150x	as long as short
Reya BTCRUSDPERP	+0.0091%	1h	85,592.6	−0.031%	$6.6M	$146.9M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,592.5	−0.031%	$172.1M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,608.5	−0.012%	$23.9M	$147.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,594	−0.029%	$8.7M	$54.2M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,583.9	−0.041%	$2.5M	$1.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,567	−0.061%	$201K	$8.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,673.6	+0.064%	$5.6M	$9.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,681	+0.072%	$3.79B	$5.01B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,631.7	+0.015%	$40.5M	$582.0M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,590	−0.034%	$9.41B	$24.31B	150x	as long as short
Bybit BTCUSDTshort	+0.0100%	8h	85,588.3	−0.036%	$5.19B	$9.84B	150x
OKX BTC-USDT-SWAP	+0.0100%	8h	85,597.1	−0.026%	$2.59B	$12.16B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,586	−0.039%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,588.7	−0.036%	$4.4M	$98.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,602.2	−0.020%	$5.54B	$10.76B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,600.9	−0.021%	$5.07B	$5.63B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,592.2	−0.032%	$35.9M	$176.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,614	−0.006%	$153.6M	$564.6M	—	as long as short
edgeX BTCUSDClong	+0.0100%	4h	85,619.2	long leg	$279.6M	$925.3M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,677.6	+0.068%	$215.0M	$168.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,670.8	+0.060%	$140.1M	$315.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,680	+0.071%	$30.3M	$208.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,661.3	+0.049%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,598	−0.025%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,596	−0.027%	$196K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,589	−0.035%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,641.1	+0.026%	$207K	$739K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,586.5	−0.038%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,578.7	−0.047%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,594.7	−0.029%	$2.27B	$946.4M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,665.1	+0.054%	$677.0M	$718.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,573.5	−0.053%	$44.8M	$231.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,612.1	−0.008%	—	$107.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,625	+0.007%	$117.2M	$5.22B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,613.5	−0.007%	$188.1M	$956.6M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,631.1	+0.014%	$8.9M	$42.8M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0201% / S −0.0177%	1h	85,604	−0.018%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0231%	8h	85,631	+0.014%	$12.0M	$757.2M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0232%	1h	85,639.7	+0.024%	$79K	$220K	20x	as long as short
Hibachi BTC/USDT-P	+0.0256%	1h	85,664	+0.052%	$701K	$7.9M	30x	as long as short
Perpl BTC	+0.0335%	43m	85,608.3	−0.013%	$505K	$18.8M	6.7x	as long as short