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

BTC

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.001%
Price spread now: Extended against SunX+0.022%7-day average −0.022% · you sell dearer than you buy
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$10as in the Price arb table
costs, in and out, $10k−$150.148% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.045%+$5 on $10k
Price spread, last 4 days (all we have)+0.124%+$12 · spread now +0.022%, 7d avg −0.022%
Together, before fees+0.169%+ Points / potential airdropExtended: Active · farm board+$17 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: Extended is 0.044% dearer against SunX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.022%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX BTC-USDT85,802.90.0100pay 0.0100% / 8h5h 10m$2.9M$6.1M100x
ShortExtended BTC-USD85,821.50.0104get 0.0013% / 1h10m 46s$44.2M$226.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended against SunX. 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
$0.84
Price spread: +0.022% → −0.022%
$4.41
Slippage, 4 orders
−$1.8
Fee SunX: 4 bp × 2 orders
−$8
Fee Extended: 2.5 bp × 2 orders
−$5
Net
−$9.55
Costs to cover
0.148%
Break-even
86.6 days
Slippage from SunX: live order book, 8 min ago; Extended: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy SunX live order book, 8 min ago0.38 bp5.3 bp −$55.8 bp −$587.8 bp −$78310.3 bp −$5,135
Sell Extended live order book, 3 min ago0.06 bp2.6 bp −$32.6 bp −$263.1 bp −$3078.7 bp −$4,375

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
Bluefin BTC-PERP−0.0618%1h85,862.9+0.070%$197K$721K40xas long as short
Phoenix BTC−0.0160%1h85,728−0.087%$2.2M$10.3M40xas long as short
Hotstuff BTC-PERP−0.0080%1h85,786−0.020%$8K$3K50xas long as short
01 Exchange BTCUSD−0.0040%1h85,806.8+0.005%$369K$2.3M50xas long as short
BloFin BTC-USDT−0.0033%8h85,822.6+0.023%$418.0M$666.5M150xas long as short
dYdX BTC-USD0.0000%1h85,840.8+0.044%$16.8M$21.2M50xas long as short
KuCoin XBTUSDTM+0.0004%8h85,824.9+0.026%$920.4M$751.5M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h85,824.8+0.026%$36.7M200xas long as short
Nado BTC-PERP+0.0013%1h85,803.4+0.001%$22.6M$219.5M50xas long as short
Aster BTCUSDT+0.0020%8h85,823+0.023%$517.0M$1.10B200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDC+0.0057%8h85,829.7+0.031%$17.0Mas long as short
Bitget BTCUSDT+0.0072%8h85,843.8+0.048%$2.96B$5.01B150xas long as short
Reya BTCRUSDPERP+0.0073%1h85,801.8−0.001%$6.7M$146.5M40xas long as short
Phemex BTCUSDT+0.0075%8h85,822.2+0.022%$149.1M$479.8M150xas long as short
Injective BTC/USDC PERP+0.0079%1h85,807+0.005%$341K$26.9M52xas long as short
Aevo BTC-PERP+0.0080%1h85,815.9+0.015%$2.5M$1.7M20xas long as short
MEXC BTC_USDT+0.0087%8h85,841+0.044%$5.08B$5.65B500xas long as short
Binance BTCUSDT+0.0087%8h85,840.8+0.044%$9.36B$23.87B150xas long as short
HTX BTC-USDT+0.0090%8h85,812.5+0.011%$2.27B$936.0M200xas long as short
SoDEX BTC-USD+0.0095%1h85,821+0.021%$60.1M$336.2M40xas long as short
Lighter BTC+0.0096%1h85,850.8+0.056%$174.8M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h85,852+0.057%$24.0M$149.5M50xas long as short
Popdex BTCUSDT+0.0096%1h85,8030.000%$8.4M$52.2M100xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,882.4+0.093%$3.8M$8.3M50xas long as short
Katana Perps BTC-USD+0.0100%8h85,779−0.028%$198K$7.8M50xas long as short
Hyperliquid BTC+0.0100%1h85,918+0.134%$3.75B$4.98B40xas long as short
Pacifica BTC+0.0100%1h85,872.8+0.082%$40.2M$577.3M50xas long as short
Bybit BTCUSDT+0.0100%8h85,846+0.050%$5.34B$9.57B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,850.3+0.055%$2.58B$12.12B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h85,827+0.028%$3.9M$18.0M25xas long as short
Arcus BTC-USD+0.0100%1h85,817.6+0.017%$6.8M$97.5M40xas long as short
Bulk BTC-USD+0.0100%1h85,800.8−0.003%$635.6M$478.1M40xas long as short
Gate BTC_USDT+0.0100%8h85,848.1+0.053%$5.56B$10.56B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,822.9+0.023%$35.4M$172.9M75xas long as short
Variational Omni BTC+0.0100%8h85,777.2−0.030%$157.4M$555.4Mas long as short
edgeX BTCUSDC+0.0100%4h85,749.7−0.062%$280.1M$916.3M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,776.3−0.031%$215.4M$165.9M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h85,774.1−0.034%$140.3M$314.6M100xas long as short
StandX BTC-USD+0.0100%1h85,752.8−0.058%$30.3M$208.9M40xas long as short
Vest BTC-PERP+0.0100%1h85,843.8+0.048%$11.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,806+0.004%$11.1M$14.1M50xas long as short
Bullet BTC-USD+0.0100%1h85,810+0.008%$193K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,808.7+0.007%$2.4M$8.8M100xas long as short
Derive BTC-PERP+0.0100%1h85,817.1+0.017%$30.1M$50.9M15xas long as short
SunX BTC-USDTlong+0.0100%8h85,802.9long leg$2.9M$6.1M100x
Extended BTC-USDshort+0.0104%1h85,821.5+0.022%$44.2M$226.7M50x
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h85,759.1−0.051%$105.9M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h85,864.7+0.072%$126.0M$5.11B50xas long as short
RISEx BTC/USDC+0.0120%1h85,833.1+0.035%$8.4M$42.2M25xas long as short
Kraken Futures PF_XBTUSD+0.0138%1h85,852.2+0.057%$189.4M$952.6M100xas long as short
Deribit BTC-PERPETUAL+0.0162%1h85,868.3+0.076%$891.6M$1.52B50xas long as short
Hibachi BTC/USDT-P+0.0192%1h85,792−0.013%$704K$7.8M30xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0202% / S −0.0178%1h85,818.7+0.018%$13.6M200xas long as short
Aftermath Perps BTCUSD+0.0203%1h85,796.9−0.007%$78K$219K20xas long as short
Kalshi KXBTCPERP+0.0219%8h85,811+0.009%$10.6M$758.2M6.4xas long as short
Perpl BTC+0.0447%43m85,801.9−0.001%$503K$19.3M6.7xas long as short