Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.013%

Price spread now: 01 Exchange against edgeX−0.189%7-day average +0.035% · 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−$40as in the Price arb table

costs, in and out, $10k−$180.176% of the position

Long on edgeX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.057%+$6 on $10k

Price spread, last 7 days+0.224%+$22 · spread now −0.189%, 7d avg +0.035%

Together, before fees+0.281%+ Points / potential airdropedgeX: Active · farm board+$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and 01 Exchange is 0.225% cheaper against edgeX than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.035%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.057%, 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	85,806	0.0100	pay 0.0050% / 4h	2h 41m	$278.1M	$938.4M	100x
Short	01 Exchange BTCUSD	85,643.7	−0.0056	pay 0.0007% / 1h	41m 22s	$364K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.189%Rate

Funding earned: −$32.76
Price spread: −0.189% → +0.035%: −$22.45
Slippage, 4 orders: −$1.61
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$72.82
Costs to cover: 0.176%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; 01 Exchange: live order book, 3 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, 3 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$475	5.9 bp −$2,959
Sell 01 Exchange live order book, 3 min ago	0.01 bp	5.0 bp −$5	8.7 bp −$87	doesn't fit	doesn't fit

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	−0.0144%	1h	85,678	−0.149%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,691	−0.134%	$8K	$3K	50x	as long as short
BloFin BTC-USDT	−0.0078%	8h	85,853	+0.055%	$415.8M	$658.2M	150x	as long as short
01 Exchange BTCUSDshort	−0.0056%	1h	85,643.7	−0.189%	$364K	$2.3M	50x
dYdX BTC-USD	0.0000%	1h	85,687.3	−0.138%	$16.8M	$20.6M	50x	as long as short
Perpl BTC	0.0000%	43m	85,669.3	−0.159%	$508K	$21.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,653.9	−0.177%	$36.6M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,810	+0.005%	$341K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0037%	8h	85,662	−0.168%	$496.8M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0040%	8h	85,637.9	−0.196%	$893.4M	$757.3M	125x	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	+0.0044%	1h	85,667	−0.162%	$8.1M	$42.5M	25x	as long as short
BingX BTC-USDC	+0.0053%	8h	85,642.1	−0.191%	—	$15.4M	—	as long as short
Reya BTCRUSDPERP	+0.0054%	1h	85,641.8	−0.191%	$6.7M	$146.1M	40x	as long as short
HTX BTC-USDT	+0.0065%	8h	85,600.3	−0.240%	$2.27B	$970.7M	200x	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,630.3	−0.205%	$2.95B	$5.14B	150x	as long as short
Nado BTC-PERP	+0.0077%	1h	85,655.2	−0.176%	$22.7M	$229.7M	50x	as long as short
Binance BTCUSDT	+0.0088%	8h	85,642.2	−0.191%	$9.32B	$24.60B	150x	as long as short
MEXC BTC_USDT	+0.0088%	8h	85,645	−0.188%	$5.11B	$5.68B	500x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,624.5	−0.212%	$2.5M	$1.8M	20x	as long as short
Lighter BTC	+0.0096%	1h	85,652.4	−0.179%	$169.2M	$980.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,656.1	−0.175%	$23.3M	$145.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,646	−0.186%	$8.4M	$52.6M	100x	as long as short
Gate BTC_USDT	+0.0099%	8h	85,649.9	−0.182%	$5.65B	$10.40B	200x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,632	−0.203%	$209K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,710	−0.112%	$3.8M	$8.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,715	−0.106%	$3.76B	$5.04B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,680.6	−0.146%	$40.8M	$569.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,649.6	−0.182%	$5.27B	$9.82B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,645.1	−0.188%	$2.55B	$12.52B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,644	−0.189%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,641.8	−0.191%	$7.3M	$98.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,676.9	−0.150%	$35.1M	$163.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,634.2	−0.200%	$157.4M	$554.3M	—	as long as short
edgeX BTCUSDClong	+0.0100%	4h	85,806	long leg	$278.1M	$938.4M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,740.2	−0.077%	$215.2M	$164.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,842.7	+0.043%	$140.4M	$321.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,805.4	−0.001%	$30.4M	$207.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,714	−0.107%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,648	−0.184%	$11.0M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,645.8	−0.187%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,635.6	−0.199%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,679.4	−0.148%	$186K	$709K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,636.9	−0.197%	$30.0M	$57.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,612.2	−0.226%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,634	−0.200%	$60.0M	$337.8M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,634.8	−0.200%	$153.8M	$480.5M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,804.9	−0.001%	$582.3M	$118.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,616	−0.221%	$44.9M	$227.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,683.9	−0.142%	—	$102.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,660.9	−0.169%	$131.0M	$5.26B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,704.9	−0.118%	$708K	$7.9M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0144%	1h	85,673.5	−0.154%	$893.1M	$1.55B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,651.1	−0.181%	$188.6M	$971.0M	100x	as long as short
Aftermath Perps BTCUSD	+0.0150%	1h	85,772.4	−0.039%	$77K	$217K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0194%	1h	85,650.8	−0.181%	$13.8M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0206%	8h	85,728	−0.091%	$10.0M	$770.4M	6.4x	as long as short