Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.008%

Price spread now: OKX against SunX+0.006%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

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

costs, in and out, $10k−$210.214% of the position

Long on SunX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 3 days (all we have)+0.042%+$4 · spread now +0.006%, 7d avg +0.010%

Together, before fees+0.037%+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BTC-USDT	86,378.1	0.0100	pay 0.0100% / 8h	7h 30m	$3.4M	$5.2M	100x
Short	OKX BTC-USDT-SWAP	86,383.7	0.0100	get 0.0100% / 8h	7h 30m	$2.56B	$12.49B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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

Position, each leg$Hold fordaysFee SunXbpFee OKXbpOrdersPrice spread, now +0.006%Rate

Funding earned: $0
Price spread: +0.006% → +0.010%: −$0.36
Slippage, 4 orders: −$3.4
Fee SunX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$21.75
Costs to cover: 0.214%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; OKX: 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 SunX live order book, 8 min ago	0.64 bp	6.1 bp −$6	6.7 bp −$67	8.4 bp −$838	doesn't fit
Sell OKX live order book, 3 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.4 bp −$543	7.0 bp −$3,514

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	−0.0458%	1h	86,410.7	+0.038%	$144K	$666K	40x	as long as short
Phoenix BTC	−0.0129%	1h	86,337	−0.048%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,404	+0.030%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,398.8	+0.024%	$361K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,403.1	+0.029%	$482K	$21.6M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,407.2	+0.034%	$36.9M	—	200x	as long as short
Aster BTCUSDT	+0.0020%	8h	86,371.9	−0.007%	$500.9M	$1.14B	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,358	−0.023%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0025%	1h	86,374.9	−0.004%	$16.9M	$20.5M	50x	as long as short
KuCoin XBTUSDTM	+0.0040%	8h	86,404.2	+0.030%	$831.2M	$720.7M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0045%	1h	86,395.8	+0.020%	$6.7M	$145.7M	40x	as long as short
BingX BTC-USDC	+0.0050%	8h	86,364.6	−0.016%	—	$15.3M	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,407	+0.033%	$8.3M	$42.5M	25x	as long as short
Bitget BTCUSDT	+0.0063%	8h	86,368.7	−0.011%	$2.97B	$5.04B	150x	as long as short
Phemex BTCUSDT	+0.0065%	8h	86,397.2	+0.022%	$154.4M	$473.9M	150x	as long as short
MEXC BTC_USDT	+0.0076%	8h	86,371.4	−0.008%	$5.13B	$5.70B	500x	as long as short
Binance BTCUSDT	+0.0077%	8h	86,373.2	−0.006%	$9.40B	$24.30B	150x	as long as short
HTX BTC-USDT	+0.0079%	8h	86,362.5	−0.018%	$2.29B	$965.0M	200x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,365.1	−0.015%	$2.5M	$1.7M	20x	as long as short
Deribit BTC-PERPETUAL	+0.0095%	1h	86,419.5	+0.048%	$902.7M	$1.51B	50x	as long as short
Lighter BTC	+0.0096%	1h	86,387.4	+0.011%	$170.5M	$985.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,392.6	+0.017%	$23.7M	$149.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,395	+0.020%	$8.4M	$52.0M	100x	as long as short
SoDEX BTC-USD	+0.0098%	1h	86,374	−0.005%	$60.4M	$338.2M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,370	−0.009%	$203K	$7.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,422.3	+0.051%	$4.2M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,376.3	−0.002%	$22.0M	$228.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,442	+0.074%	$3.79B	$5.00B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,410.2	+0.037%	$40.7M	$551.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,383.8	+0.007%	$5.26B	$9.66B	150x	as long as short
OKX BTC-USDT-SWAPshort	+0.0100%	8h	86,383.7	+0.006%	$2.56B	$12.49B	100x
Ondo Perps BTC-USD.P	+0.0100%	1h	86,398	+0.023%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,418.8	+0.047%	$7.2M	$94.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,348	−0.035%	$573.1M	$19.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,378.6	+0.001%	$5.80B	$10.54B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,374.6	−0.004%	$37.5M	$157.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,377.3	−0.001%	$158.2M	$561.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,352.6	−0.030%	$278.9M	$950.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,334.3	−0.051%	$216.8M	$165.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,356.3	−0.025%	$141.6M	$321.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,327	−0.059%	$30.6M	$209.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,426	+0.055%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,400	+0.025%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,392.7	+0.017%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,378.5	0.000%	$2.5M	$8.9M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,405.1	+0.031%	$30.5M	$58.1M	15x	as long as short
SunX BTC-USDTlong	+0.0100%	8h	86,378.1	long leg	$3.4M	$5.2M	100x
Extended BTC-USD	+0.0104%	1h	86,356.9	−0.025%	$45.9M	$222.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,411.3	+0.038%	—	$98.6M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,415	+0.043%	$132.2M	$5.41B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,400.3	+0.026%	$192.4M	$942.3M	100x	as long as short
Aftermath Perps BTCUSD	+0.0166%	1h	86,401.7	+0.027%	$77K	$217K	20x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	86,353.9	−0.028%	$710K	$7.9M	30x	as long as short
BloFin BTC-USDT	+0.0197%	8h	86,370.5	−0.009%	$415.9M	$645.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0219%	1h	86,402.7	+0.029%	$14.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0209%	8h	86,413	+0.040%	$10.2M	$763.6M	6.4x	as long as short