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

BTC

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 05:57 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.044%
Price spread now: Bullet against Perpl−0.019%7-day average −0.007% · you buy dearer than you sell
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 3 days (all we have)−0.076%−$8 on $10k
Price spread, last 7 days−0.063%−$6 · spread now −0.019%, 7d avg −0.007%
Together, before fees−0.139%+ Points / potential airdropPerpl: Active · farm board−$14 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.007%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair cost −0.076%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPerpl BTC85,378.10get 0.0000% / 43m18m 51s$529K$18.3M6.7x
ShortBullet BTC-USD85,361.90.0100get 0.0013% / 1h55m 51s$204K$3.3M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against Perpl. 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

Funding earned
$21
Price spread: −0.019% → −0.007%
−$1.18
Slippage, 4 orders
no order book: not counted
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$1.98
Costs to cover
0.218%
Break-even
7.7 days
Slippage unknown: Perpl: no order-book sample; Bullet: live order book, 3 min ago. 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 Perpl no order-book sample
Sell Bullet live order book, 3 min ago0.29 bp4.9 bp −$58.0 bp −$80doesn't fitdoesn't fit
Perpl: 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
Phoenix BTC−0.0111%1h85,444+0.077%$2.1M$10.4M40xas long as short
Hotstuff BTC-PERP−0.0080%1h85,437+0.069%$8K$3K50xas long as short
KuCoin XBTUSDTM−0.0049%8h85,347.3−0.036%$927.0M$772.1M125xas long as short
BloFin BTC-USDT−0.0023%8h85,384.4+0.007%$420.4M$683.7M150xas long as short
Aster BTCUSDT−0.0008%8h85,350.2−0.033%$513.2M$1.09B200xas long as short
dYdX BTC-USD0.0000%1h85,390+0.014%$16.7M$21.5M50xas long as short
01 Exchange BTCUSD0.0000%1h85,380.2+0.002%$353K$2.4M50xas long as short
Perpl BTClong0.0000%43m85,378.1long leg$529K$18.3M6.7x
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h85,368.6−0.011%$36.5M200xas long as short
Nado BTC-PERP+0.0038%1h85,366.6−0.013%$24.5M$222.7M50xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective BTC/USDC PERP+0.0057%1h85,405+0.032%$339K$26.8M52xas long as short
BingX BTC-USDT+0.0070%8h85,356.2−0.026%$1.56Bas long as short
Bitget BTCUSDT+0.0087%8h85,355−0.027%$2.95B$5.18B150xas long as short
Phemex BTCUSDT+0.0088%8h85,361.2−0.020%$149.4M$508.1M150xas long as short
Kraken Futures PF_XBTUSD+0.0089%1h85,362.9−0.018%$187.8M$955.7M100xas long as short
Lighter BTC+0.0096%1h85,369.1−0.011%$170.6M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h85,370.1−0.009%$23.6M$147.1M50xas long as short
Popdex BTCUSDT+0.0096%1h85,368−0.012%$8.3M$56.0M100xas long as short
MEXC BTC_USDT+0.0096%8h85,354.8−0.027%$5.02B$5.72B500xas long as short
Aevo BTC-PERP+0.0096%1h85,348.9−0.034%$2.4M$6.7M20xas long as short
Deribit BTC-PERPETUAL+0.0097%1h85,394.6+0.019%$866.8M$1.63B50xas long as short
Binance BTCUSDT+0.0097%8h85,354.7−0.027%$9.43B$24.99B150xas long as short
Katana Perps BTC-USD+0.0100%8h85,342−0.042%$238K$8.6M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,425+0.055%$5.8M$9.6M50xas long as short
Hyperliquid BTC+0.0100%1h85,442+0.075%$3.75B$5.09B40xas long as short
Pacifica BTC+0.0100%1h85,403.9+0.030%$40.1M$602.1M50xas long as short
Bybit BTCUSDT+0.0100%8h85,351.9−0.031%$5.14B$9.99B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,360−0.021%$2.59B$12.25B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h85,361−0.020%$3.8M$17.3M25xas long as short
Arcus BTC-USD+0.0100%1h85,379.8+0.002%$4.6M$98.8M40xas long as short
Gate BTC_USDT+0.0100%8h85,356−0.026%$5.51B$10.95B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,343.3−0.041%$36.8M$179.8M75xas long as short
Variational Omni BTC+0.0100%8h85,340.9−0.044%$155.1M$558.9Mas long as short
edgeX BTCUSDC+0.0100%4h85,371.2−0.008%$279.6M$950.1M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,473.2+0.111%$214.6M$167.4M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h85,469.9+0.108%$139.7M$314.3M100xas long as short
StandX BTC-USD+0.0100%1h85,420.3+0.049%$30.1M$206.7M40xas long as short
Vest BTC-PERP+0.0100%1h85,436.9+0.069%$10.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,362−0.019%$11.0M$14.6M50xas long as short
Bullet BTC-USDshort+0.0100%1h85,361.9−0.019%$204K$3.3M20x
Orderly PERP_BTC_USDC+0.0100%8h85,360.6−0.020%$2.6M$9.9M100xas long as short
Bluefin BTC-PERP+0.0100%1h85,396.4+0.021%$194K$795K40xas long as short
Derive BTC-PERP+0.0100%1h85,335.3−0.050%$30.0M$48.0M15xas long as short
SunX BTC-USDT+0.0100%8h85,368.5−0.011%$2.9M$6.1M100xas long as short
SoDEX BTC-USD+0.0100%1h85,351−0.032%$59.7M$336.8M40xas long as short
HTX BTC-USDT+0.0100%8h85,366.5−0.014%$2.26B$960.3M200xas long as short
Bulk BTC-USD+0.0100%1h85,476.9+0.116%$684.3M$499.2M40xas long as short
Extended BTC-USD+0.0104%1h85,330.7−0.056%$44.5M$240.6M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h85,388.3+0.012%$106.9M500xas long as short
Coinbase International BTC-PERP-INTX+0.0104%1h85,392.5+0.017%$117.0M$5.46B50xas long as short
Reya BTCRUSDPERP+0.0122%1h85,352.7−0.030%$6.6M$147.6M40xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0175% / S −0.0152%1h85,369.1−0.011%$13.0M200xas long as short
RISEx BTC/USDC+0.0193%1h85,392.5+0.017%$8.8M$43.2M25xas long as short
Kalshi KXBTCPERP+0.0204%8h85,394+0.019%$11.5M$743.3M6.4xas long as short
Aftermath Perps BTCUSD+0.0238%1h85,444.1+0.077%$79K$229K20xas long as short
Hibachi BTC/USDT-P+0.0240%1h85,420.3+0.049%$690K$8.0M30xas long as short