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 0.000%

Price spread now: SunX against Variational Omni−0.019%7-day average +0.004% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now −0.019%, 7d avg +0.004%

Together, before fees−0.047%+ Points / potential airdropVariational Omni: Active · farm board−$5 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: SunX is 0.024% cheaper against Variational Omni than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni BTC	85,455.5	0.0100	pay 0.0100% / 8h	4h 21m	$153.7M	$564.5M	—
Short	SunX BTC-USDT	85,438.9	0.0100	get 0.0100% / 8h	4h 21m	$2.9M	$6.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Variational Omni. 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 Variational OmnibpFee SunXbpOrdersPrice spread, now −0.019%Rate

Funding earned: $0
Price spread: −0.019% → +0.004%: −$2.36
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$10.36
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; SunX: live order book, 8 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 3 min ago	0.51 bp	doesn't fit	0.5 bp −$5	3.8 bp −$378	doesn't fit
Sell SunX live order book, 8 min ago	0.01 bp	4.0 bp −$4	5.0 bp −$50	7.5 bp −$751	11.1 bp −$5,536

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	−0.0179%	1h	85,530	+0.087%	$2.1M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,528	+0.085%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,460	+0.005%	$365K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0023%	8h	85,519.6	+0.075%	$417.1M	$667.7M	150x	as long as short
KuCoin XBTUSDTM	−0.0021%	8h	85,445.3	−0.012%	$918.2M	$751.6M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,475.8	+0.024%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0012%	8h	85,460.2	+0.006%	$515.2M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0014%	1h	85,497.7	+0.049%	$16.7M	$21.2M	50x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,448.2	−0.009%	$4.4M	$98.0M	40x	as long as short
Nado BTC-PERP	+0.0021%	1h	85,472	+0.019%	$25.4M	$222.3M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0062%	8h	85,466.9	+0.013%	—	$1.54B	—	as long as short
Phemex BTCUSDT	+0.0073%	8h	85,492.1	+0.043%	$147.6M	$487.6M	150x	as long as short
Bitget BTCUSDT	+0.0078%	8h	85,464.5	+0.010%	$2.95B	$5.07B	150x	as long as short
Reya BTCRUSDPERP	+0.0083%	1h	85,459.3	+0.004%	$6.7M	$146.8M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,482.1	+0.031%	$172.7M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,482.1	+0.031%	$23.9M	$149.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,464	+0.010%	$8.4M	$52.9M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,461.3	+0.007%	$2.4M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0097%	8h	85,467.3	+0.014%	$5.06B	$5.64B	500x	as long as short
Binance BTCUSDT	+0.0098%	8h	85,466.8	+0.013%	$9.36B	$24.14B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,436	−0.023%	$209K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,539	+0.098%	$4.9M	$9.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,547	+0.107%	$3.74B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,504.9	+0.058%	$40.7M	$580.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,460.9	+0.006%	$5.21B	$9.79B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,470.4	+0.017%	$2.58B	$12.13B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,474	+0.022%	$3.9M	$18.2M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,516	+0.071%	$659.1M	$647.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,467.2	+0.014%	$5.51B	$10.73B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,476.2	+0.024%	$35.7M	$176.6M	75x	as long as short
Variational Omni BTClong	+0.0100%	8h	85,455.5	long leg	$153.7M	$564.5M	—
edgeX BTCUSDC	+0.0100%	4h	85,504	+0.057%	$279.3M	$921.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,513.1	+0.067%	$214.6M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,521.5	+0.077%	$139.8M	$314.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,512.1	+0.066%	$30.2M	$208.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,528	+0.085%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,460	+0.005%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,464	+0.010%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,464.4	+0.010%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,504.7	+0.058%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,454	−0.002%	$29.9M	$50.4M	15x	as long as short
SunX BTC-USDTshort	+0.0100%	8h	85,438.9	−0.019%	$2.9M	$6.1M	100x
SoDEX BTC-USD	+0.0100%	1h	85,470	+0.017%	$59.9M	$336.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,511	+0.065%	$2.26B	$942.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,438.3	−0.020%	$44.5M	$230.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,479.5	+0.028%	—	$107.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,500.1	+0.052%	$117.2M	$5.19B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0107%	1h	85,515	+0.070%	$884.3M	$1.58B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,475	+0.023%	$339K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,481.9	+0.031%	$187.6M	$955.1M	100x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,482.9	+0.032%	$8.2M	$42.5M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0177%	1h	85,473.1	+0.021%	$13.4M	—	200x	as long as short
Aftermath Perps BTCUSD	+0.0206%	1h	85,532.2	+0.090%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0216%	1h	85,549.5	+0.110%	$703K	$7.9M	30x	as long as short
Kalshi KXBTCPERP	+0.0218%	8h	85,538	+0.096%	$10.3M	$756.6M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,515.6	+0.070%	$500K	$18.8M	6.7x	as long as short