Settings8H · net · $10k
Funding arb · Price arb /

BTC

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRnext payment $0.00 per $10,000 · paid last 24h +0.001%
Price spread now: Ondo Perps against Extended+0.026%7-day average +0.052% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 7 days0.000%$0 on $10k
Price spread, last 7 days−0.265%−$26 · spread now +0.026%, 7d avg +0.052%
Together, before fees−0.265%+ Points / potential airdropExtended: Active · Ondo Perps: Active · farm board−$26 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: Ondo Perps is 0.026% cheaper against Extended than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.052%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended BTC-USD85,181.20.0104pay 0.0013% / 1h17m 43s$45.4M$241.1M50x
ShortOndo Perps BTC-USD.P85,2030.0100get 0.0013% / 1h17m 43s$3.8M$17.3M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Ondo Perps against Extended. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$0.84
Price spread: +0.026% → +0.052%
−$2.63
Slippage, 4 orders
no order book: not counted
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Net
−$13.47
Costs to cover
0.100%
Break-even
never at this rate
Slippage unknown: Extended: live order book, 1 min ago; Ondo Perps: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Extended live order book, 1 min ago0.06 bp2.6 bp −$32.6 bp −$263.6 bp −$3589.5 bp −$4,769
Sell Ondo Perps no order-book sample
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hotstuff BTC-PERP−0.0080%1h85,226+0.053%$8K$3K50xas long as short
Phoenix BTC−0.0034%1h85,189+0.009%$2.3M$10.8M40xas long as short
BloFin BTC-USDT−0.0020%8h85,240.6+0.070%$422.4M$686.2M150xas long as short
KuCoin XBTUSDTM−0.0015%8h85,202.3+0.025%$926.9M$778.2M125xas long as short
01 Exchange BTCUSD0.0000%1h85,212.2+0.036%$343K$2.3M50xas long as short
Aster BTCUSDT+0.0003%8h85,204.9+0.028%$509.0M$1.08B200xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h85,214.5+0.039%$36.4M200xas long as short
dYdX BTC-USD+0.0011%1h85,231.4+0.059%$16.7M$21.0M50xas long as short
Kraken Futures PF_XBTUSD+0.0026%1h85,232.5+0.060%$185.7M$955.6M100xas long as short
ApeX Omni BTCUSDT+0.0058%1h85,166−0.018%$139.5M$312.5M100xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDC+0.0064%8h85,189.4+0.010%$17.4Mas long as short
Injective BTC/USDC PERP+0.0067%1h85,1810.000%$302K$25.3M52xas long as short
Bybit BTCUSDT+0.0080%8h85,205.3+0.028%$5.10B$10.04B150xas long as short
Nado BTC-PERP+0.0087%1h85,223.6+0.050%$24.1M$220.9M50xas long as short
Lighter BTC+0.0096%1h85,219.4+0.045%$168.3M$1.02B50xas long as short
Lighter RH BTC+0.0096%1h85,217.4+0.043%$23.6M$148.8M50xas long as short
Popdex BTCUSDT+0.0096%1h85,206+0.029%$8.4M$57.7M100xas long as short
Aevo BTC-PERP+0.0096%1h85,202.8+0.025%$2.4M$6.7M20xas long as short
Bitget BTCUSDT+0.0097%8h85,203.4+0.026%$2.97B$5.21B150xas long as short
Katana Perps BTC-USD+0.0100%8h85,189+0.009%$268K$8.7M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,253.4+0.085%$5.8M$9.6M50xas long as short
Hyperliquid BTC+0.0100%1h85,292+0.130%$3.75B$5.09B40xas long as short
Pacifica BTC+0.0100%1h85,235.9+0.064%$40.3M$604.7M50xas long as short
Binance BTCUSDT+0.0100%8h85,213.8+0.038%$9.38B$25.15B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,214+0.039%$2.60B$12.26B100xas long as short
Ondo Perps BTC-USD.Pshort+0.0100%1h85,203+0.026%$3.8M$17.3M25x
Arcus BTC-USD+0.0100%1h85,227.6+0.054%$4.7M$97.5M40xas long as short
Gate BTC_USDT+0.0100%8h85,208.1+0.032%$5.49B$11.14B200xas long as short
MEXC BTC_USDT+0.0100%8h85,212.6+0.037%$5.02B$5.77B500xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,203.6+0.026%$36.9M$189.2M75xas long as short
Variational Omni BTC+0.0100%8h85,136.5−0.053%$156.2M$549.1Mas long as short
edgeX BTCUSDC+0.0100%4h85,142.9−0.045%$282.3M$957.0M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,165.4−0.019%$213.7M$159.2M50xas long as short
StandX BTC-USD+0.0100%1h85,160.1−0.025%$30.0M$212.2M40xas long as short
Vest BTC-PERP+0.0100%1h85,276.9+0.112%$10.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,210+0.034%$10.9M$15.0M50xas long as short
Bullet BTC-USD+0.0100%1h85,215.8+0.041%$196K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,214.1+0.039%$2.6M$9.8M100xas long as short
Bluefin BTC-PERP+0.0100%1h85,244.2+0.074%$194K$796K40xas long as short
Derive BTC-PERP+0.0100%1h85,209.5+0.033%$29.2M$45.3M15xas long as short
SunX BTC-USDT+0.0100%8h85,176.7−0.005%$2.9M$6.1M100xas long as short
SoDEX BTC-USD+0.0100%1h85,209+0.033%$59.7M$336.6M40xas long as short
HTX BTC-USDT+0.0100%8h85,209.5+0.033%$2.25B$974.1M200xas long as short
Phemex BTCUSDT+0.0100%8h85,211.4+0.035%$158.8M$516.2M150xas long as short
Bulk BTC-USD+0.0100%1h85,240+0.069%$693.3M$214.1M40xas long as short
Extended BTC-USDlong+0.0104%1h85,181.2long leg$45.4M$241.1M50x
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h85,215.2+0.040%$106.7M500xas long as short
Coinbase International BTC-PERP-INTX+0.0104%1h85,250.9+0.082%$111.7M$5.48B50xas long as short
Deribit BTC-PERPETUAL+0.0138%1h85,254.2+0.086%$840.0M$1.67B50xas long as short
Reya BTCRUSDPERP+0.0142%1h85,197.7+0.019%$6.6M$143.0M40xas long as short
Kalshi KXBTCPERP+0.0171%8h85,243+0.073%$12.1M$737.5M6.4xas long as short
RISEx BTC/USDC+0.0174%1h85,228.5+0.055%$8.8M$42.9M25xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0174% / S −0.0146%1h85,212.2+0.036%$13.0M200xas long as short
Hibachi BTC/USDT-P+0.0240%1h85,273.5+0.108%$679K$7.7M30xas long as short
Aftermath Perps BTCUSD+0.0289%1h85,238+0.067%$81K$254K20xas long as short
Perpl BTC+0.0447%43m85,244.2+0.074%$459K$18.4M6.7xas long as short