Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.037%

Price spread now: Hotstuff against Gate+0.001%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BTC_USDT	85,388.8	−0.0025	get 0.0025% / 8h	7h 57m	$5.45B	$9.80B	200x
Short	Hotstuff BTC-PERP	85,390	−0.0080	pay 0.0010% / 1h	57m 57s	$8K	$2K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Gate. 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 GatebpFee HotstuffbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$11.55
Price spread: +0.001% → 0.000%: $0.15
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$31.4
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 1 min ago; Hotstuff: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Gate live order book, 1 min ago	0.01 bp	7.5 bp −$8	7.5 bp −$75	8.8 bp −$878	11.3 bp −$5,645
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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 55 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
Phemex BTCUSDT	−0.0437%	8h	85,395.9	+0.008%	$159.4M	$516.9M	150x	as long as short
Hotstuff BTC-PERPshort	−0.0080%	1h	85,390	+0.001%	$8K	$2K	50x
Phoenix BTC	−0.0034%	1h	85,341	−0.056%	$2.3M	$10.4M	40x	as long as short
Gate BTC_USDTlong	−0.0025%	8h	85,388.8	long leg	$5.45B	$9.80B	200x
BloFin BTC-USDT	−0.0020%	8h	85,343.9	−0.053%	$421.7M	$685.6M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,364	−0.029%	$311K	$22.9M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,411.2	+0.026%	$344K	$2.3M	50x	as long as short
KuCoin XBTUSDTM	0.0000%	8h	85,408.2	+0.023%	$929.7M	$776.8M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,416.1	+0.032%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0021%	8h	85,394	+0.006%	$502.9M	$1.09B	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit BTC-PERPETUAL	+0.0022%	1h	85,427.9	+0.046%	$829.3M	$1.67B	50x	as long as short
dYdX BTC-USD	+0.0036%	1h	85,368.3	−0.024%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,409.3	+0.024%	$186.4M	$953.8M	100x	as long as short
BingX BTC-USDT	+0.0069%	8h	85,393.7	+0.006%	—	$1.58B	—	as long as short
Nado BTC-PERP	+0.0089%	1h	85,379.9	−0.010%	$24.1M	$220.1M	50x	as long as short
Lighter BTC	+0.0096%	1h	85,402.4	+0.016%	$169.6M	$935.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,405.1	+0.019%	$23.6M	$133.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,411	+0.026%	$8.7M	$57.8M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,408.1	+0.023%	$2.4M	$6.7M	20x	as long as short
ApeX Omni BTCUSDT	+0.0097%	1h	85,273.7	−0.135%	$138.0M	$312.8M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,419.6	+0.036%	$5.7M	$9.6M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,400.1	+0.013%	$40.2M	$604.6M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,392.5	+0.004%	$9.41B	$25.21B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,398.8	+0.012%	$5.09B	$10.03B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,396.9	+0.010%	$2.61B	$12.26B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,395	+0.007%	$3.8M	$17.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,417.4	+0.034%	$4.6M	$97.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,382	−0.008%	$697.9M	$180.4M	40x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,391.2	+0.003%	$5.03B	$5.71B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,397.4	+0.010%	$2.97B	$5.19B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,388.2	−0.001%	$37.5M	$192.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,265.8	−0.144%	$155.3M	$548.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,267.5	−0.142%	$282.8M	$959.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,283.5	−0.123%	$214.0M	$159.0M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,270.7	−0.138%	$30.1M	$216.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,465.9	+0.090%	—	$9.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,343	−0.054%	$10.9M	$15.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,401.6	+0.015%	$200K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,418.4	+0.035%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,458.4	+0.082%	$194K	$796K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,381.9	−0.008%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,402	+0.016%	$59.8M	$336.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,398.3	+0.011%	$2.26B	$976.3M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,375.6	−0.015%	$45.7M	$241.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,371.7	−0.020%	—	$106.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,446	+0.067%	$111.9M	$5.47B	50x	as long as short
Derive BTC-PERP	+0.0133%	1h	85,433.6	+0.053%	$28.8M	$46.9M	15x	as long as short
Reya BTCRUSDPERP	+0.0145%	1h	85,392.9	+0.005%	$6.6M	$140.9M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0149%	1h	85,408.1	+0.023%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0175%	8h	85,430	+0.048%	$12.1M	$739.9M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,414	+0.030%	$8.9M	$42.9M	25x	as long as short
Hyperliquid BTC	+0.0261%	1h	85,478	+0.105%	$3.79B	$5.11B	40x	as long as short
Aftermath Perps BTCUSD	+0.0285%	1h	85,319.7	−0.081%	$81K	$249K	20x	as long as short
Hibachi BTC/USDT-P	+0.0320%	1h	85,377.1	−0.014%	$683K	$7.8M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,412.6	+0.028%	$472K	$18.4M	6.7x	as long as short