Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.034%

Price spread now: 01 Exchange against SunX+0.008%7-day average +0.026% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$180.183% of the position

Long on SunX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.099%−$10 on $10k

Price spread, last 3 days (all we have)+0.045%+$5 · spread now +0.008%, 7d avg +0.026%

Together, before fees−0.054%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.026%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BTC-USDT	85,776.6	0.0100	pay 0.0100% / 8h	6h 45m	$2.9M	$6.6M	100x
Short	01 Exchange BTCUSD	85,783.5	−0.0056	pay 0.0007% / 1h	45m 47s	$364K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.008%Rate

Funding earned: −$32.76
Price spread: +0.008% → +0.026%: −$1.83
Slippage, 4 orders: −$3.27
Fee SunX: 4 bp × 2 orders: −$8
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$52.86
Costs to cover: 0.183%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; 01 Exchange: 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, 3 min ago	0.18 bp	5.0 bp −$5	7.9 bp −$79	10.6 bp −$1,062	13.5 bp −$6,753
Sell 01 Exchange live order book, 3 min ago	0.01 bp	5.4 bp −$5	9.3 bp −$93	doesn't fit	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
Phoenix BTC	−0.0144%	1h	85,788	+0.013%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,799	+0.026%	$8K	$3K	50x	as long as short
BloFin BTC-USDT	−0.0078%	8h	85,853	+0.089%	$415.8M	$658.2M	150x	as long as short
01 Exchange BTCUSDshort	−0.0056%	1h	85,783.5	+0.008%	$364K	$2.3M	50x
dYdX BTC-USD	0.0000%	1h	85,814.4	+0.044%	$16.8M	$20.6M	50x	as long as short
Perpl BTC	0.0000%	43m	85,827.2	+0.059%	$513K	$21.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,780.1	+0.004%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,810	+0.039%	$341K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0037%	8h	85,767.2	−0.011%	$497.4M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0041%	8h	85,734.1	−0.050%	$893.9M	$757.2M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0044%	1h	85,799	+0.026%	$8.1M	$42.6M	25x	as long as short
BingX BTC-USDC	+0.0052%	8h	85,749.3	−0.032%	—	$15.4M	—	as long as short
Reya BTCRUSDPERP	+0.0053%	1h	85,764.5	−0.014%	$6.7M	$146.1M	40x	as long as short
Bitget BTCUSDT	+0.0067%	8h	85,741	−0.042%	$2.95B	$5.13B	150x	as long as short
ApeX Omni BTCUSDT	+0.0075%	1h	85,863.8	+0.102%	$140.4M	$320.9M	100x	as long as short
Nado BTC-PERP	+0.0079%	1h	85,778.6	+0.002%	$23.0M	$229.0M	50x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,768.4	−0.010%	$2.5M	$1.8M	20x	as long as short
HTX BTC-USDT	+0.0081%	8h	85,766.7	−0.012%	$2.27B	$968.9M	200x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,744.7	−0.037%	$5.09B	$5.66B	500x	as long as short
Binance BTCUSDT	+0.0088%	8h	85,744.9	−0.037%	$9.33B	$24.58B	150x	as long as short
Gate BTC_USDT	+0.0089%	8h	85,750	−0.031%	$5.66B	$10.38B	200x	as long as short
Lighter BTC	+0.0096%	1h	85,757.7	−0.022%	$169.9M	$978.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,785.4	+0.010%	$23.3M	$145.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,789	+0.014%	$8.4M	$52.5M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,764	−0.015%	$210K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,838.5	+0.072%	$3.8M	$8.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,814	+0.044%	$3.77B	$5.03B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,831.2	+0.064%	$40.9M	$569.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,759	−0.021%	$5.27B	$9.81B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,757	−0.023%	$2.55B	$12.53B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,786	+0.011%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,774	−0.003%	$7.3M	$98.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,761.6	−0.017%	$35.1M	$163.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,783.2	+0.008%	$155.9M	$552.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,838.8	+0.072%	$278.1M	$943.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,857.1	+0.094%	$215.7M	$163.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,799.4	+0.027%	$30.4M	$207.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,835.4	+0.069%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,774	−0.003%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,783	+0.007%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,768.8	−0.009%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,813.1	+0.043%	$186K	$709K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,785.6	+0.010%	$30.0M	$57.4M	15x	as long as short
SunX BTC-USDTlong	+0.0100%	8h	85,776.6	long leg	$2.9M	$6.6M	100x
SoDEX BTC-USD	+0.0100%	1h	85,768	−0.010%	$60.0M	$338.0M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,776.5	0.000%	$154.0M	$477.9M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,804.9	+0.033%	$582.3M	$118.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,722.8	−0.063%	$44.7M	$226.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,795.6	+0.022%	—	$101.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,807.8	+0.036%	$131.6M	$5.26B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0119%	1h	85,810.3	+0.039%	$895.5M	$1.54B	50x	as long as short
Hibachi BTC/USDT-P	+0.0128%	1h	85,822.2	+0.053%	$707K	$8.0M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,797.7	+0.025%	$189.0M	$970.4M	100x	as long as short
Aftermath Perps BTCUSD	+0.0150%	1h	85,825.2	+0.057%	$77K	$217K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0194%	1h	85,778.6	+0.002%	$13.8M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	85,816	+0.046%	$9.9M	$769.2M	6.4x	as long as short