Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.017%

Price spread now: Gate against Polymarket Perps+0.027%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Polymarket Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 7 days−0.029%−$3 · spread now +0.027%, 7d avg +0.008%

Together, before fees−0.129%−$13 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BTC-USD	85,670	0.0100	pay 0.0013% / 1h	53m 02s	$11.1M	$14.3M	50x
Short	Gate BTC_USDT	85,693.4	0.0100	get 0.0100% / 8h	3h 53m	$5.53B	$10.73B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.027%Rate

Funding earned: $0
Price spread: +0.027% → +0.008%: $1.9
Slippage, 4 orders: −$0.96
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$22.06
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 6 min ago; Gate: live order book, 1 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, 6 min ago	0.06 bp	4.1 bp −$4	4.8 bp −$48	6.5 bp −$648	doesn't fit
Sell Gate live order book, 1 min ago	0.01 bp	7.5 bp −$8	7.6 bp −$76	8.1 bp −$810	10.2 bp −$5,105

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	85,646	−0.028%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,636	−0.040%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0037%	8h	85,687.1	+0.020%	$918.0M	$755.9M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,679.8	+0.011%	$418.1M	$676.0M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,669.8	0.000%	$366K	$2.3M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,635.3	−0.041%	$16.8M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,684.1	+0.016%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0013%	8h	85,679.4	+0.011%	$516.2M	$1.10B	200x	as long as short
Nado BTC-PERP	+0.0014%	1h	85,629.7	−0.047%	$24.8M	$222.7M	50x	as long as short
Injective BTC/USDC PERP	+0.0044%	1h	85,690	+0.023%	$340K	$26.9M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0063%	8h	85,684.8	+0.017%	—	$17.1M	—	as long as short
Phemex BTCUSDT	+0.0065%	8h	85,694.4	+0.028%	$148.9M	$489.9M	150x	as long as short
Bitget BTCUSDT	+0.0080%	8h	85,690	+0.023%	$2.96B	$5.11B	150x	as long as short
Reya BTCRUSDPERP	+0.0090%	1h	85,675.7	+0.007%	$6.6M	$146.9M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,711.6	+0.049%	$172.4M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,714.4	+0.052%	$23.9M	$147.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,661	−0.011%	$8.7M	$54.0M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,696.4	+0.031%	$2.5M	$1.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,619	−0.060%	$202K	$8.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,705.8	+0.042%	$5.4M	$9.2M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,775.8	+0.123%	$3.79B	$5.01B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,671.4	+0.002%	$40.5M	$582.0M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,694.3	+0.028%	$9.42B	$24.30B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,690.4	+0.024%	$5.20B	$9.84B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,696.4	+0.031%	$2.59B	$12.18B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,629	−0.048%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,630.5	−0.046%	$4.4M	$98.4M	40x	as long as short
Gate BTC_USDTshort	+0.0100%	8h	85,693.4	+0.027%	$5.53B	$10.73B	200x
MEXC BTC_USDT	+0.0100%	8h	85,700.5	+0.036%	$5.07B	$5.63B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,689.5	+0.023%	$35.8M	$176.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,637.7	−0.038%	$153.8M	$564.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,618	−0.061%	$279.5M	$923.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,633.8	−0.042%	$214.9M	$167.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,648.2	−0.025%	$140.0M	$315.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,638.2	−0.037%	$30.3M	$208.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,717.1	+0.055%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USDlong	+0.0100%	1h	85,670	long leg	$11.1M	$14.3M	50x
Bullet BTC-USD	+0.0100%	1h	85,678	+0.009%	$195K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,694.4	+0.028%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,746.1	+0.089%	$207K	$739K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,690.7	+0.024%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,619.4	−0.059%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,700	+0.035%	$60.1M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,692.3	+0.026%	$2.27B	$946.2M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,665.1	−0.006%	$677.0M	$718.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,658.1	−0.014%	$44.8M	$231.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,614.8	−0.064%	—	$107.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,737.3	+0.079%	$117.6M	$5.22B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0112%	1h	85,741.7	+0.084%	$885.2M	$1.59B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,725.4	+0.065%	$188.4M	$956.9M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,675.1	+0.006%	$8.9M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0201% / S −0.0177%	1h	85,682	+0.014%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0222%	8h	85,671	+0.001%	$12.0M	$757.2M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0229%	1h	85,663.7	−0.007%	$78K	$220K	20x	as long as short
Hibachi BTC/USDT-P	+0.0256%	1h	85,684.6	+0.017%	$704K	$7.9M	30x	as long as short
Perpl BTC	+0.0335%	43m	85,651.9	−0.021%	$504K	$18.8M	6.7x	as long as short