Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.018%

Price spread now: 01 Exchange against Gate+0.004%7-day average −0.001% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$240.239% of the position

Long on Gate Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.064%−$6 on $10k

Price spread, last 7 days+0.013%+$1 · spread now +0.004%, 7d avg −0.001%

Together, before fees−0.051%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: −$5 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	85,638.1	0.0100	pay 0.0100% / 8h	6h 04m	$5.58B	$10.61B	200x
Short	01 Exchange BTCUSD	85,641.2	−0.0064	pay 0.0008% / 1h	4m 14s	$362K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.004%Rate

Funding earned: −$34.44
Price spread: +0.004% → −0.001%: $0.47
Slippage, 4 orders: −$1.87
Fee Gate: 7.5 bp × 2 orders: −$15
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$57.84
Costs to cover: 0.239%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; 01 Exchange: 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 Gate live order book, 5 min ago	0.01 bp	7.5 bp −$8	7.5 bp −$75	8.5 bp −$846	18.4 bp −$9,176
Sell 01 Exchange live order book, 5 min ago	0.01 bp	4.2 bp −$4	8.6 bp −$86	doesn't fit	doesn't fit

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
Phoenix BTC	−0.0144%	1h	85,616	−0.026%	$2.1M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,614	−0.028%	$8K	$3K	50x	as long as short
01 Exchange BTCUSDshort	−0.0064%	1h	85,641.2	+0.004%	$362K	$2.3M	50x
dYdX BTC-USD	+0.0002%	1h	85,643.5	+0.006%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,641	+0.003%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,682	+0.051%	$340K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0023%	8h	85,623.9	−0.017%	$516.3M	$1.12B	200x	as long as short
KuCoin XBTUSDTM	+0.0025%	8h	85,626.2	−0.014%	$901.4M	$748.7M	125x	as long as short
Nado BTC-PERP	+0.0032%	1h	85,613.6	−0.029%	$22.7M	$225.5M	50x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,668.2	+0.035%	$8.4M	$42.2M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0056%	8h	85,623.4	−0.017%	—	$17.1M	—	as long as short
HTX BTC-USDT	+0.0057%	8h	85,617.4	−0.024%	$2.27B	$936.4M	200x	as long as short
Reya BTCRUSDPERP	+0.0062%	1h	85,638.7	+0.001%	$6.7M	$146.3M	40x	as long as short
Bitget BTCUSDT	+0.0069%	8h	85,610.2	−0.033%	$2.94B	$5.04B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,608.7	−0.034%	$2.5M	$1.7M	20x	as long as short
SunX BTC-USDT	+0.0081%	8h	85,616.6	−0.025%	$2.9M	$6.6M	100x	as long as short
MEXC BTC_USDT	+0.0085%	8h	85,644.1	+0.007%	$5.08B	$5.76B	500x	as long as short
Binance BTCUSDT	+0.0086%	8h	85,639.9	+0.002%	$9.34B	$24.01B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,622.4	−0.018%	$170.4M	$996.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,628.8	−0.011%	$23.9M	$148.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,644	+0.007%	$8.4M	$51.7M	100x	as long as short
ApeX Omni BTCUSDT	+0.0097%	1h	85,611.5	−0.031%	$140.0M	$317.0M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,673.1	+0.041%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,612	−0.030%	$206K	$7.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,707	+0.080%	$3.77B	$4.91B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,659.9	+0.025%	$40.2M	$569.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,634.4	−0.004%	$5.32B	$9.63B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,617.9	−0.024%	$2.55B	$12.19B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,599	−0.046%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,610.5	−0.032%	$7.1M	$96.4M	40x	as long as short
Gate BTC_USDTlong	+0.0100%	8h	85,638.1	long leg	$5.58B	$10.61B	200x
Backpack BTC_USDC_PERP	+0.0100%	1h	85,588.5	−0.058%	$35.1M	$167.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,602.8	−0.041%	$154.0M	$555.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,588.5	−0.058%	$278.4M	$938.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,544.9	−0.109%	$214.7M	$162.9M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,623.8	−0.017%	$30.3M	$210.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,687.8	+0.058%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,644	+0.007%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,631.7	−0.007%	$187K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,617.4	−0.024%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,664.8	+0.031%	$197K	$722K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,617.9	−0.024%	$30.0M	$56.1M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,618	−0.023%	$59.9M	$336.5M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,614.1	−0.028%	$150.8M	$480.3M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,593.2	−0.052%	$605.0M	$283.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,594.6	−0.051%	$44.1M	$228.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,644.5	+0.007%	—	$101.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,662.4	+0.028%	$130.7M	$5.10B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,641.7	+0.004%	$187.2M	$955.8M	100x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	85,644.8	+0.008%	$682K	$7.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0179%	1h	85,648.3	+0.012%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0186%	1h	85,635.7	−0.003%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,645	+0.008%	$10.3M	$765.4M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0256%	1h	85,668.1	+0.035%	$894.9M	$1.53B	50x	as long as short
Perpl BTC	+0.0447%	43m	85,651.5	+0.016%	$510K	$19.9M	6.7x	as long as short