Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.014%

Price spread now: Bitget against RISEx−0.015%7-day average −0.009% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$180.184% of the position

Long on RISEx Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.026%−$3 on $10k

Price spread, last 7 days−0.005%−$1 · spread now −0.015%, 7d avg −0.009%

Together, before fees−0.031%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx BTC/USDC	86,365.4	0.0006	pay 0.0001% / 1h	13m 06s	$8.4M	$42.8M	25x
Short	Bitget BTCUSDT	86,352.7	0.0046	get 0.0046% / 8h	1h 13m	$2.95B	$5.10B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against RISEx. 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 RISExbpFee BitgetbpOrdersPrice spread, now −0.015%Rate

Funding earned: $8.36
Price spread: −0.015% → −0.009%: −$0.56
Slippage, 4 orders: −$0.43
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$10.64
Costs to cover: 0.184%
Break-even: 15.9 days

Slippage from RISEx: live order book, 1 min ago; Bitget: 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 RISEx live order book, 1 min ago	0.01 bp	3.0 bp −$3	3.0 bp −$30	10.2 bp −$1,024	doesn't fit
Sell Bitget live order book, 1 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.5 bp −$649	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
Bluefin BTC-PERP	−0.0681%	1h	86,371.4	+0.007%	$140K	$620K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,402	+0.042%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,361	−0.005%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,365.8	0.000%	$360K	$2.4M	50x	as long as short
Aster BTCUSDT	−0.0011%	8h	86,349.2	−0.019%	$503.3M	$1.15B	200x	as long as short
KuCoin XBTUSDTM	+0.0003%	8h	86,348.2	−0.020%	$850.8M	$712.2M	125x	as long as short
dYdX BTC-USD	+0.0005%	1h	86,406.9	+0.048%	$17.0M	$21.1M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,369.7	+0.005%	$36.8M	—	200x	as long as short
RISEx BTC/USDClong	+0.0006%	1h	86,365.4	long leg	$8.4M	$42.8M	25x
Deribit BTC-PERPETUAL	+0.0012%	1h	86,388.6	+0.027%	$917.8M	$1.49B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0023%	1h	86,338.4	−0.031%	$6.7M	$145.0M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,360	−0.006%	$332K	$26.8M	52x	as long as short
Aftermath Perps BTCUSD	+0.0033%	1h	86,441	+0.088%	$81K	$218K	20x	as long as short
BingX BTC-USDC	+0.0036%	8h	86,334.1	−0.036%	—	$15.3M	—	as long as short
Phemex BTCUSDT	+0.0040%	8h	86,357.5	−0.009%	$150.0M	$476.9M	150x	as long as short
Bitget BTCUSDTshort	+0.0046%	8h	86,352.7	−0.015%	$2.95B	$5.10B	150x
Binance BTCUSDT	+0.0064%	8h	86,354.8	−0.012%	$9.42B	$24.44B	150x	as long as short
MEXC BTC_USDT	+0.0064%	8h	86,354.7	−0.012%	$5.14B	$5.70B	500x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,340.1	−0.029%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0079%	8h	86,352.1	−0.015%	$5.84B	$10.75B	200x	as long as short
Bybit BTCUSDT	+0.0093%	8h	86,360.9	−0.005%	$5.25B	$9.78B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,365.6	0.000%	$170.5M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,377.5	+0.014%	$24.1M	$152.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,352	−0.015%	$8.4M	$52.4M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,339	−0.031%	$201K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,399.2	+0.039%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,365.8	0.000%	$21.7M	$234.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,422	+0.066%	$3.80B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,400.2	+0.040%	$40.7M	$513.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,362.9	−0.003%	$2.53B	$12.71B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,365	0.000%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,419	+0.062%	$7.8M	$94.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,498.7	+0.154%	$571.7M	$18.6M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,348.3	−0.020%	$37.8M	$155.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,394.8	+0.034%	$155.5M	$568.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,426.9	+0.071%	$279.3M	$949.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,418.2	+0.061%	$217.1M	$176.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,418.4	+0.061%	$141.3M	$323.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,380	+0.017%	$30.7M	$203.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,406.9	+0.048%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,350	−0.018%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,352	−0.015%	$190K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,352.5	−0.015%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,360.3	−0.006%	$30.6M	$62.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,339.2	−0.030%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,350	−0.018%	$60.4M	$337.3M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,346.4	−0.022%	$2.29B	$968.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,330	−0.041%	$45.5M	$226.2M	50x	as long as short
Hibachi BTC/USDT-P	+0.0104%	1h	86,421.2	+0.065%	$719K	$8.1M	30x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,375.5	+0.012%	—	$98.8M	500x	as long as short
Perpl BTC	+0.0112%	43m	86,388.4	+0.027%	$421K	$23.6M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,398.9	+0.039%	$131.3M	$5.69B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,382.6	+0.020%	$191.1M	$944.0M	100x	as long as short
BloFin BTC-USDT	+0.0184%	8h	86,353.7	−0.014%	$414.2M	$653.5M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0186% / S −0.0213%	1h	86,360.5	−0.006%	$15.2M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0199%	8h	86,393	+0.032%	$9.8M	$734.7M	6.4x	as long as short