Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.010%

Price spread now: edgeX against Polymarket Perps+0.032%64s7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$170.173% of the position

Long on Polymarket Perps Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.241%−$24 on $10k

Price spread, last 7 days−0.053%−$5 · spread now +0.032%, 7d avg −0.029%

Together, before fees−0.294%+ Points / potential airdropedgeX: Active · farm board−$29 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.061% dearer against Polymarket Perps than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.029%. The two prices were read 64 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BTC-USD	85,486	0.0100	pay 0.0013% / 1h	25m 46s	$11.1M	$14.3M	50x
Short	edgeX BTCUSDC	85,513.5	0.0100	get 0.0050% / 4h	3h 25m	$279.3M	$928.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Polymarket Perps. 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 Polymarket PerpsbpFee edgeXbpOrdersPrice spread, now +0.032%Rate

Funding earned: $0
Price spread: +0.032% → −0.029%: $6.1
Slippage, 4 orders: −$0.32
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$11.23
Costs to cover: 0.173%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; edgeX: live order book, 3 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 Polymarket Perps live order book, 3 min ago	0.06 bp	4.1 bp −$4	5.4 bp −$54	7.6 bp −$759	doesn't fit
Sell edgeX live order book, 3 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	4.8 bp −$483	5.7 bp −$2,869

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	−0.0140%	1h	85,526	+0.047%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,500	+0.016%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0042%	8h	85,454.1	−0.037%	$918.1M	$757.4M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,495.6	+0.011%	$419.0M	$675.7M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,491.5	+0.006%	$365K	$2.3M	50x	as long as short
Aster BTCUSDT	0.0000%	8h	85,454.4	−0.037%	$514.6M	$1.10B	200x	as long as short
Perpl BTC	0.0000%	43m	85,489.6	+0.004%	$502K	$18.7M	6.7x	as long as short
Nado BTC-PERP	+0.0004%	1h	85,483	−0.004%	$24.6M	$223.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,485.8	0.000%	$36.5M	—	200x	as long as short
dYdX BTC-USD	+0.0039%	1h	85,528.6	+0.050%	$16.8M	$21.2M	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	+0.0044%	1h	85,514	+0.033%	$339K	$26.9M	52x	as long as short
BingX BTC-USDT	+0.0065%	8h	85,458.7	−0.032%	—	$1.54B	—	as long as short
SoDEX BTC-USD	+0.0066%	1h	85,456	−0.035%	$59.9M	$336.0M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0066%	1h	85,508.1	+0.026%	$884.7M	$1.59B	50x	as long as short
Phemex BTCUSDT	+0.0073%	8h	85,471	−0.018%	$148.3M	$495.5M	150x	as long as short
Bitget BTCUSDT	+0.0080%	8h	85,450.9	−0.041%	$2.95B	$5.11B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,466.3	−0.023%	$172.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,472.7	−0.016%	$24.0M	$148.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,479	−0.008%	$8.4M	$55.0M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,452.9	−0.039%	$2.7M	$2.0M	20x	as long as short
Binance BTCUSDT	+0.0099%	8h	85,455	−0.036%	$9.43B	$24.41B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,472	−0.016%	$209K	$8.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,539.4	+0.062%	$5.7M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,540	+0.063%	$3.79B	$5.02B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,521.5	+0.041%	$40.1M	$588.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,453.3	−0.038%	$5.18B	$9.86B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,466.3	−0.023%	$2.59B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,474	−0.014%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,481.7	−0.005%	$4.7M	$100.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,517.4	+0.037%	$680.3M	$725.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,464.5	−0.025%	$5.53B	$10.81B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,456.5	−0.035%	$5.06B	$5.66B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,454.9	−0.036%	$36.2M	$179.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,453	−0.039%	$154.1M	$565.9M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	85,513.5	+0.032%	$279.3M	$928.2M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	85,538.4	+0.061%	$215.0M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,591	+0.123%	$139.9M	$315.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,549	+0.074%	$30.2M	$207.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,544.4	+0.068%	—	$11.2M	50x	as long as short
Polymarket Perps BTC-USDlong	+0.0100%	1h	85,486	long leg	$11.1M	$14.3M	50x
Bullet BTC-USD	+0.0100%	1h	85,474	−0.014%	$199K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,463.2	−0.027%	$2.5M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,509.4	+0.027%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,458.2	−0.033%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,462.6	−0.027%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,458.6	−0.032%	$2.26B	$948.7M	200x	as long as short
Reya BTCRUSDPERP	+0.0100%	1h	85,479.3	−0.008%	$6.6M	$147.1M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,430.1	−0.065%	$45.0M	$233.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,492.8	+0.008%	—	$107.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,494.4	+0.010%	$117.2M	$5.25B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,481.9	−0.005%	$187.5M	$954.7M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,520.1	+0.040%	$8.7M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0149%	1h	85,490.3	+0.005%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0188%	8h	85,509	+0.027%	$11.7M	$754.3M	6.4x	as long as short
Hibachi BTC/USDT-P	+0.0248%	1h	85,531.5	+0.053%	$697K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0250%	1h	85,536.5	+0.059%	$78K	$221K	20x	as long as short