Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0141%/8h= −15.4% APRpaid last 24h −0.028%

Price spread now: Jupiter Perps against Gate+0.017%7-day average +0.015% · you sell dearer than you buy

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

Long on Gate Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.112%−$11 on $10k

Price spread, last 3 days (all we have)−0.026%−$3 · spread now +0.017%, 7d avg +0.015%

Together, before fees−0.138%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: −$4 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	86,219.7	0.0093	pay 0.0093% / 8h	7h 09m	$5.77B	$10.63B	200x
Short	Jupiter Perps WBTC-PERP	86,234.7	L +0.0104% / S +0.0048%	pay 0.0006% / 1h	9m 47s	—	$98.9M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps 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 Jupiter PerpsbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$29.61
Price spread: +0.017% → +0.015%: $0.22
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$56.39
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 4 min ago; Jupiter 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Gate live order book, 4 min ago	0.01 bp	7.5 bp −$8	7.6 bp −$76	9.1 bp −$908	doesn't fit
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	−0.0129%	1h	86,372	+0.177%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,248	+0.033%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	86,223.8	+0.005%	$364K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	86,230.2	+0.012%	$569K	$21.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,234	+0.017%	$36.9M	—	200x	as long as short
Bluefin BTC-PERP	+0.0021%	1h	86,240.5	+0.024%	$144K	$666K	40x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,365	+0.169%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0026%	1h	86,219	−0.001%	$16.9M	$20.5M	50x	as long as short
Aster BTCUSDT	+0.0032%	8h	86,198.9	−0.024%	$499.7M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0045%	8h	86,207.6	−0.014%	$829.7M	$714.9M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0049%	1h	86,211.1	−0.010%	$6.7M	$145.8M	40x	as long as short
BingX BTC-USDC	+0.0052%	8h	86,210.1	−0.011%	—	$15.3M	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,237.4	+0.021%	$8.2M	$42.4M	25x	as long as short
Bitget BTCUSDT	+0.0066%	8h	86,202.8	−0.020%	$2.97B	$5.04B	150x	as long as short
SoDEX BTC-USD	+0.0076%	1h	86,161	−0.068%	$60.4M	$338.3M	40x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,187.9	−0.037%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0084%	8h	86,202	−0.021%	$5.11B	$5.75B	500x	as long as short
Binance BTCUSDT	+0.0084%	8h	86,200.5	−0.022%	$9.39B	$24.20B	150x	as long as short
HTX BTC-USDT	+0.0092%	8h	86,143.5	−0.088%	$2.29B	$957.6M	200x	as long as short
Gate BTC_USDTlong	+0.0093%	8h	86,219.7	long leg	$5.77B	$10.63B	200x
Lighter BTC	+0.0096%	1h	86,219.2	−0.001%	$170.2M	$993.3M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,220.5	+0.001%	$23.6M	$152.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,233	+0.015%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,196	−0.027%	$199K	$7.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,300.1	+0.093%	$4.2M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,268.6	+0.057%	$22.1M	$225.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,262	+0.049%	$3.78B	$4.95B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,299.6	+0.093%	$40.6M	$558.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,212.3	−0.009%	$5.25B	$9.63B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,235.8	+0.019%	$2.56B	$12.42B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,229	+0.011%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,245	+0.029%	$7.2M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,145.7	−0.086%	$580.3M	$59.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,173	−0.054%	$35.5M	$161.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,205.5	−0.016%	$156.7M	$558.7M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,254.8	+0.041%	$278.6M	$953.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,266	+0.054%	$216.6M	$165.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,290.3	+0.082%	$141.4M	$320.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,204.7	−0.017%	$30.6M	$207.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,263.6	+0.051%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,214	−0.007%	$11.1M	$14.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,218.8	−0.001%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,211.8	−0.009%	$2.4M	$9.0M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,222.5	+0.003%	$30.3M	$56.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,189.1	−0.035%	$3.3M	$5.4M	100x	as long as short
Phemex BTCUSDT	+0.0100%	8h	86,177.3	−0.049%	$155.5M	$473.0M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	86,197	−0.026%	$45.9M	$222.2M	50x	as long as short
Jupiter Perps WBTC-PERPshort	L +0.0104% / S +0.0048%	1h	86,234.7	+0.017%	—	$98.9M	500x
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,207.6	−0.014%	$132.2M	$5.28B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,187.7	−0.037%	$191.4M	$949.9M	100x	as long as short
Hibachi BTC/USDT-P	+0.0152%	1h	86,228.9	+0.011%	$713K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0169%	1h	86,280.7	+0.071%	$77K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0204%	8h	86,210	−0.011%	$415.5M	$641.1M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0205%	1h	86,251.3	+0.037%	$902.6M	$1.51B	50x	as long as short
Kalshi KXBTCPERP	+0.0206%	8h	86,255	+0.041%	$10.6M	$766.2M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0222%	1h	86,230.2	+0.012%	$14.5M	—	200x	as long as short