Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0030%/8h= −3.3% APRpaid last 24h +0.010%

Price spread now: SoDEX against edgeX−0.044%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$180.183% of the position

Long on edgeX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.120%+$12 on $10k

Price spread, last 3 days (all we have)+0.041%+$4 · spread now −0.044%, 7d avg +0.017%

Together, before fees+0.161%+ Points / potential airdropedgeX: Active · farm board+$16 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 SoDEX is 0.062% cheaper against edgeX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.017%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.120%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BTCUSDC	86,114.1	0.0100	pay 0.0050% / 4h	3h 04m	$278.1M	$940.2M	100x
Short	SoDEX BTC-USD	86,076	0.0070	get 0.0009% / 1h	4m 31s	$60.3M	$338.3M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.044%Rate

Funding earned: −$6.29
Price spread: −0.044% → +0.017%: −$6.16
Slippage, 4 orders: −$1.32
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$30.77
Costs to cover: 0.183%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; SoDEX: 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 edgeX live order book, 5 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	4.8 bp −$481	6.6 bp −$3,291
Sell SoDEX live order book, 5 min ago	0.06 bp	4.1 bp −$4	4.1 bp −$41	5.0 bp −$495	41.8 bp −$20.9K

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	−0.0129%	1h	86,215	+0.117%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,129	+0.017%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	86,111.1	−0.003%	$363K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	86,144.7	+0.036%	$518K	$21.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,126.9	+0.015%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,365	+0.291%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0023%	1h	86,108.9	−0.006%	$16.9M	$20.5M	50x	as long as short
Aster BTCUSDT	+0.0031%	8h	86,105.9	−0.009%	$499.2M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0044%	8h	86,107.6	−0.008%	$827.6M	$715.8M	125x	as long as short
Reya BTCRUSDPERP	+0.0050%	1h	86,101.2	−0.015%	$6.7M	$145.8M	40x	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	+0.0052%	1h	86,122.8	+0.010%	$8.2M	$42.4M	25x	as long as short
BingX BTC-USDC	+0.0053%	8h	86,100.2	−0.016%	—	$15.3M	—	as long as short
HTX BTC-USDT	+0.0059%	8h	86,059	−0.064%	$2.28B	$957.9M	200x	as long as short
Bitget BTCUSDT	+0.0066%	8h	86,108.4	−0.007%	$2.96B	$5.06B	150x	as long as short
SoDEX BTC-USDshort	+0.0070%	1h	86,076	−0.044%	$60.3M	$338.3M	40x
Bluefin BTC-PERP	+0.0076%	1h	86,106.8	−0.008%	$144K	$666K	40x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,066.4	−0.055%	$2.5M	$1.8M	20x	as long as short
Binance BTCUSDT	+0.0083%	8h	86,105.5	−0.010%	$9.37B	$24.27B	150x	as long as short
MEXC BTC_USDT	+0.0083%	8h	86,105.4	−0.010%	$5.11B	$5.77B	500x	as long as short
Phemex BTCUSDT	+0.0086%	8h	86,070	−0.051%	$155.3M	$473.4M	150x	as long as short
Gate BTC_USDT	+0.0095%	8h	86,112.2	−0.002%	$5.77B	$10.68B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,133	+0.022%	$169.5M	$996.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,146.4	+0.038%	$23.5M	$152.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,113	−0.001%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,091	−0.027%	$201K	$7.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,165	+0.059%	$4.2M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,113.4	−0.001%	$21.8M	$225.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,179	+0.075%	$3.77B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,156.6	+0.049%	$40.8M	$560.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,106.4	−0.009%	$5.24B	$9.65B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,087.3	−0.031%	$2.56B	$12.40B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,120	+0.007%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,134.1	+0.023%	$7.3M	$95.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,059.9	−0.063%	$35.4M	$161.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,079.3	−0.040%	$156.4M	$555.5M	—	as long as short
edgeX BTCUSDClong	+0.0100%	4h	86,114.1	long leg	$278.1M	$940.2M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,175.4	+0.071%	$216.3M	$165.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,194.2	+0.093%	$141.1M	$320.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,069.2	−0.052%	$30.5M	$206.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,148.9	+0.040%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,112	−0.002%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,116.5	+0.003%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,080.1	−0.039%	$2.4M	$9.1M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,090.9	−0.027%	$30.2M	$57.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,055.4	−0.068%	$3.3M	$5.4M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,141.5	+0.032%	$581.0M	$76.4M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,088	−0.030%	$46.0M	$222.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,080.4	−0.039%	—	$99.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,103.7	−0.012%	$132.4M	$5.27B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,108	−0.007%	$190.3M	$953.6M	100x	as long as short
Hibachi BTC/USDT-P	+0.0128%	1h	86,108.8	−0.006%	$724K	$8.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0169%	1h	86,174.5	+0.070%	$77K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0203%	8h	86,079.9	−0.040%	$415.6M	$640.3M	150x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	86,107	−0.008%	$10.4M	$765.7M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0222%	1h	86,121.5	+0.009%	$14.5M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0211%	1h	86,131.9	+0.021%	$902.8M	$1.51B	50x	as long as short