Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h +0.001%

Price spread now: Aevo against HTX+0.025%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on HTX Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.025%, 7d avg −0.001%

Together, before fees+0.011%+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aevo is 0.026% dearer against HTX than usual: you sell high and buy low (spread +0.025% now, against its 7-day average of −0.001%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 7.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BTC-USDT	85,273	0.0100	pay 0.0100% / 8h	1h 30m	$2.26B	$967.5M	200x
Short	Aevo BTC-PERP	85,294.4	0.0088	get 0.0011% / 1h	30m 39s	$2.4M	$6.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against HTX. 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 HTXbpFee AevobpOrdersPrice spread, now +0.025%Rate

Funding earned: −$2.52
Price spread: +0.025% → −0.001%: $2.65
Slippage, 4 orders: −$4.3
Fee HTX: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$32.18
Costs to cover: 0.323%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; Aevo: live order book, 4 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 HTX live order book, 4 min ago	0.01 bp	6.0 bp −$6	6.1 bp −$61	6.6 bp −$662	8.5 bp −$4,266
Sell Aevo live order book, 4 min ago	0.94 bp	10.0 bp −$10	11.2 bp −$112	13.4 bp −$1,336	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	−0.0082%	1h	85,293	+0.023%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,290	+0.020%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0045%	8h	85,279.8	+0.008%	$927.4M	$773.8M	125x	as long as short
BloFin BTC-USDT	−0.0029%	8h	85,298.9	+0.030%	$421.2M	$682.6M	150x	as long as short
Aster BTCUSDT	−0.0012%	8h	85,286.2	+0.015%	$512.4M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,298.3	+0.030%	$353K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,312.6	+0.046%	$494K	$18.5M	6.7x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,282.8	+0.011%	$16.7M	$21.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,312.4	+0.046%	$36.5M	—	200x	as long as short
Nado BTC-PERP	+0.0043%	1h	85,279.2	+0.007%	$24.4M	$222.4M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0057%	1h	85,247	−0.030%	$338K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0070%	8h	85,293.5	+0.024%	—	$1.56B	—	as long as short
ApeX Omni BTCUSDT	+0.0083%	1h	85,306.3	+0.039%	$139.5M	$314.2M	100x	as long as short
Aevo BTC-PERPshort	+0.0088%	1h	85,294.4	+0.025%	$2.4M	$6.7M	20x
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,309.4	+0.043%	$185.8M	$958.4M	100x	as long as short
Bitget BTCUSDT	+0.0089%	8h	85,289.9	+0.020%	$2.96B	$5.17B	150x	as long as short
MEXC BTC_USDT	+0.0091%	8h	85,291.2	+0.021%	$5.01B	$5.75B	500x	as long as short
Binance BTCUSDT	+0.0091%	8h	85,293.6	+0.024%	$9.42B	$24.94B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,298.4	+0.030%	$170.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,305.4	+0.038%	$23.5M	$148.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,294	+0.025%	$8.4M	$56.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,269	−0.005%	$237K	$8.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,289.8	+0.020%	$5.14B	$9.98B	150x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,355.5	+0.097%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,373	+0.117%	$3.74B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,319.2	+0.054%	$40.2M	$604.4M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,312.9	+0.047%	$2.59B	$12.24B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,283	+0.012%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,285.1	+0.014%	$5.2M	$99.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,297.8	+0.029%	$5.49B	$11.00B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,296.8	+0.028%	$36.9M	$178.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,275.8	+0.003%	$154.7M	$557.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,254.4	−0.022%	$279.3M	$950.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,296	+0.027%	$214.2M	$166.1M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,260.2	−0.015%	$30.0M	$203.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,351.9	+0.093%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,298	+0.029%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,298.8	+0.030%	$202K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,305.5	+0.038%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,345.5	+0.085%	$193K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,214.5	−0.069%	$29.9M	$47.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,279	+0.007%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,302	+0.034%	$59.7M	$336.8M	40x	as long as short
HTX BTC-USDTlong	+0.0100%	8h	85,273	long leg	$2.26B	$967.5M	200x
Phemex BTCUSDT	+0.0100%	8h	85,311.7	+0.045%	$151.6M	$509.7M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,269.9	−0.004%	$683.1M	$415.1M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,270.5	−0.003%	$44.8M	$240.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,287.7	+0.017%	—	$106.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,337.3	+0.075%	$116.0M	$5.46B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0116%	1h	85,340.5	+0.079%	$862.2M	$1.64B	50x	as long as short
Reya BTCRUSDPERP	+0.0128%	1h	85,289.1	+0.019%	$6.6M	$147.6M	40x	as long as short
Kalshi KXBTCPERP	+0.0183%	8h	85,312	+0.046%	$11.8M	$741.1M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,315.9	+0.050%	$8.8M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0200% / S −0.0176%	1h	85,308.5	+0.042%	$13.1M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,306.3	+0.039%	$685K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0269%	1h	85,294.8	+0.026%	$79K	$230K	20x	as long as short