Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0081%/8h= +8.9% APRpaid last 24h +0.016%

Price spread now: BingX against 01 Exchange−0.029%7-day average −0.036% · 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−$18as in the Price arb table

costs, in and out, $10k−$180.185% of the position

Long on 01 Exchange Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.042%+$4 on $10k

Price spread, last 7 days−0.008%−$1 · spread now −0.029%, 7d avg −0.036%

Together, before fees+0.034%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.036%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,536.1	−0.0016	get 0.0002% / 1h	29m 19s	$365K	$2.3M	50x
Short	BingX BTC-USDC	85,511	0.0065	get 0.0065% / 8h	3h 29m	—	$17.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against 01 Exchange. 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 01 ExchangebpFee BingXbpOrdersPrice spread, now −0.029%Rate

Funding earned: $17.01
Price spread: −0.029% → −0.036%: $0.69
Slippage, 4 orders: −$1.45
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$0.76
Costs to cover: 0.185%
Break-even: 7.3 days

Slippage from 01 Exchange: live order book, 5 min ago; BingX: live order book, 9 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 01 Exchange live order book, 5 min ago	0.01 bp	4.0 bp −$4	8.9 bp −$89	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	6.0 bp −$604	7.9 bp −$3,949

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	−0.0140%	1h	85,533	−0.004%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,600	+0.075%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0041%	8h	85,515.3	−0.024%	$919.2M	$756.8M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,579.1	+0.050%	$419.6M	$675.6M	150x	as long as short
01 Exchange BTCUSDlong	−0.0016%	1h	85,536.1	long leg	$365K	$2.3M	50x
Aster BTCUSDT	+0.0002%	8h	85,518.9	−0.020%	$515.0M	$1.10B	200x	as long as short
Nado BTC-PERP	+0.0004%	1h	85,520.6	−0.018%	$24.6M	$223.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,538.9	+0.003%	$36.6M	—	200x	as long as short
dYdX BTC-USD	+0.0028%	1h	85,574.9	+0.045%	$16.8M	$21.2M	50x	as long as short
Injective BTC/USDC PERP	+0.0044%	1h	85,514	−0.026%	$339K	$26.9M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDCshort	+0.0065%	8h	85,511	−0.029%	—	$17.2M	—
Phemex BTCUSDT	+0.0069%	8h	85,559.3	+0.027%	$148.3M	$495.0M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0074%	1h	85,567.9	+0.037%	$884.6M	$1.59B	50x	as long as short
Bitget BTCUSDT	+0.0080%	8h	85,516.6	−0.023%	$2.95B	$5.12B	150x	as long as short
SoDEX BTC-USD	+0.0082%	1h	85,565	+0.034%	$60.0M	$335.9M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,544	+0.009%	$172.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,542.8	+0.008%	$24.0M	$148.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,522	−0.016%	$8.4M	$54.9M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,511.9	−0.028%	$2.5M	$1.7M	20x	as long as short
Reya BTCRUSDPERP	+0.0099%	1h	85,523.1	−0.015%	$6.6M	$147.1M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,515	−0.025%	$208K	$8.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,567.3	+0.036%	$5.7M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,611	+0.088%	$3.79B	$5.02B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,568.3	+0.038%	$40.1M	$588.0M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,521.7	−0.017%	$9.42B	$24.40B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,522.7	−0.016%	$5.19B	$9.86B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,528	−0.009%	$2.59B	$12.13B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,543	+0.008%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,524.9	−0.013%	$4.7M	$100.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,517.4	−0.022%	$680.3M	$725.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,529.2	−0.008%	$5.54B	$10.80B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,530.2	−0.007%	$5.08B	$5.66B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,537.3	+0.001%	$36.2M	$179.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,584.9	+0.057%	$154.4M	$565.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,523.9	−0.014%	$279.4M	$928.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,590.3	+0.063%	$215.1M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,591	+0.064%	$139.9M	$315.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,553.2	+0.020%	$30.2M	$207.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,594.1	+0.068%	—	$11.4M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,524	−0.014%	$11.0M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,525.7	−0.012%	$197K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,519.9	−0.019%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,561.4	+0.030%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,512	−0.028%	$30.0M	$50.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,552.4	+0.019%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,550	+0.016%	$2.27B	$948.7M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,494.5	−0.049%	$45.0M	$233.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,543.4	+0.009%	—	$107.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,595.6	+0.070%	$117.3M	$5.26B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,583.6	+0.056%	$187.8M	$954.8M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,560.5	+0.029%	$8.7M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0153%	1h	85,537.8	+0.002%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0203%	8h	85,601	+0.076%	$11.7M	$754.9M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0245%	1h	85,574.7	+0.045%	$78K	$221K	20x	as long as short
Hibachi BTC/USDT-P	+0.0248%	1h	85,608.9	+0.085%	$697K	$7.9M	30x	as long as short
Perpl BTC	+0.0335%	43m	85,535	−0.001%	$503K	$18.7M	6.7x	as long as short