Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.031%

Price spread now: Extended against edgeX−0.118%93s7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs+$10as 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−$150.146% of the position

Long on edgeX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.251%+$25 on $10k

Price spread, last 7 days+0.120%+$12 · spread now −0.118%, 7d avg +0.002%

Together, before fees+0.371%+ Points / potential airdropedgeX: Active · Extended: Active · farm board+$37 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: Extended is 0.120% cheaper against edgeX than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.002%. The two prices were read 93 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	86,531.2	0.0100	pay 0.0050% / 4h	1h 17m	$279.7M	$948.9M	100x
Short	Extended BTC-USD	86,429.4	0.0104	get 0.0013% / 1h	17m 54s	$45.5M	$226.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.118%Rate

Funding earned: $0.84
Price spread: −0.118% → +0.002%: −$11.99
Slippage, 4 orders: −$0.6
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$25.75
Costs to cover: 0.146%
Break-even: 221.5 days

Slippage from edgeX: live order book, 6 min ago; Extended: live order book, 6 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, 6 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$472	5.7 bp −$2,840
Sell Extended live order book, 6 min ago	0.06 bp	3.0 bp −$3	3.4 bp −$34	4.4 bp −$440	10.2 bp −$5,098

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	−0.0827%	1h	86,494.4	−0.043%	$140K	$620K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,503	−0.033%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,470	−0.071%	$9K	$3K	50x	as long as short
Aster BTCUSDT	−0.0010%	8h	86,449.8	−0.094%	$503.9M	$1.15B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,469.7	−0.071%	$358K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,476.2	−0.064%	$424K	$23.7M	6.7x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,445	−0.100%	$851.1M	$711.6M	125x	as long as short
dYdX BTC-USD	+0.0004%	1h	86,497.2	−0.039%	$17.0M	$21.1M	50x	as long as short
Aftermath Perps BTCUSD	+0.0005%	1h	86,525.7	−0.006%	$82K	$217K	20x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,496.8	−0.040%	$36.8M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0006%	1h	86,469.7	−0.071%	$8.5M	$43.0M	25x	as long as short
Reya BTCRUSDPERP	+0.0023%	1h	86,460.3	−0.082%	$6.7M	$145.0M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.032%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0035%	8h	86,482.4	−0.056%	$149.9M	$476.9M	150x	as long as short
BingX BTC-USDC	+0.0035%	8h	86,440.6	−0.105%	—	$15.3M	—	as long as short
Deribit BTC-PERPETUAL	+0.0044%	1h	86,517.8	−0.015%	$921.0M	$1.48B	50x	as long as short
Bitget BTCUSDT	+0.0046%	8h	86,446.3	−0.098%	$2.95B	$5.10B	150x	as long as short
MEXC BTC_USDT	+0.0064%	8h	86,443.3	−0.102%	$5.13B	$5.70B	500x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,473	−0.067%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0064%	8h	86,454.8	−0.088%	$9.43B	$24.42B	150x	as long as short
Gate BTC_USDT	+0.0079%	8h	86,450.5	−0.093%	$5.84B	$10.73B	200x	as long as short
Bybit BTCUSDT	+0.0092%	8h	86,440.1	−0.105%	$5.25B	$9.77B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,477.3	−0.062%	$170.5M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,488.3	−0.050%	$24.1M	$152.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,462	−0.080%	$8.5M	$52.4M	100x	as long as short
Hibachi BTC/USDT-P	+0.0096%	1h	86,517.3	−0.016%	$717K	$8.2M	30x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,446	−0.099%	$205K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,521.4	−0.011%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,457.6	−0.085%	$22.0M	$234.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,516	−0.018%	$3.80B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,509.1	−0.026%	$40.8M	$513.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,432.1	−0.115%	$2.54B	$12.72B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,480	−0.059%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,534.4	+0.004%	$7.4M	$94.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,498.7	−0.038%	$571.7M	$18.6M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,440.2	−0.105%	$37.8M	$155.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,498.8	−0.037%	$156.2M	$568.5M	—	as long as short
edgeX BTCUSDClong	+0.0100%	4h	86,531.2	long leg	$279.7M	$948.9M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,518.2	−0.015%	$217.2M	$175.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,540.1	+0.010%	$141.5M	$323.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,483	−0.056%	$30.7M	$203.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,514.2	−0.020%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,462	−0.080%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,482	−0.057%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,487.5	−0.051%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,479.2	−0.060%	$30.4M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,454.2	−0.089%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,481	−0.058%	$60.4M	$337.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,466.3	−0.075%	$2.30B	$968.4M	200x	as long as short
Extended BTC-USDshort	+0.0104%	1h	86,429.4	−0.118%	$45.5M	$226.0M	50x
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,493.6	−0.044%	—	$98.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,520.1	−0.013%	$131.8M	$5.70B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,504.3	−0.031%	$191.3M	$943.6M	100x	as long as short
BloFin BTC-USDT	+0.0184%	8h	86,473.9	−0.066%	$414.0M	$654.4M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0185% / S −0.0211%	1h	86,489.9	−0.048%	$15.2M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0199%	8h	86,498	−0.038%	$9.8M	$733.9M	6.4x	as long as short