Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.037%

Price spread now: SunX against 01 Exchange−0.043%7-day average −0.027% · 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−$22as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on 01 Exchange Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.101%+$10 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now −0.043%, 7d avg −0.027%

Together, before fees+0.071%+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.027%, so right now this pair is about funding alone: +$4 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	85,184.7	−0.0024	get 0.0003% / 1h	30m 25s	$373K	$2.3M	50x
Short	SunX BTC-USDT	85,147.9	0.0100	get 0.0100% / 8h	2h 30m	$2.9M	$6.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.043%Rate

Funding earned: $26.04
Price spread: −0.043% → −0.027%: −$1.66
Slippage, 4 orders: −$5.7
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: $3.67
Costs to cover: 0.207%
Break-even: 6.0 days

Slippage from 01 Exchange: live order book, 4 min ago; SunX: live order book, 8 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, 4 min ago	0.30 bp	4.1 bp −$4	14.8 bp −$148	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	0.93 bp	4.9 bp −$5	5.4 bp −$54	7.2 bp −$723	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
Perpl BTC	−0.0112%	43m	85,141.9	−0.050%	$524K	$18.6M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,177	−0.009%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,161	−0.028%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0054%	8h	85,161	−0.028%	$921.5M	$763.3M	125x	as long as short
BloFin BTC-USDT	−0.0035%	8h	85,135.4	−0.058%	$420.5M	$678.3M	150x	as long as short
01 Exchange BTCUSDlong	−0.0024%	1h	85,184.7	long leg	$373K	$2.3M	50x
Aster BTCUSDT	−0.0015%	8h	85,157.5	−0.032%	$511.9M	$1.09B	200x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,176.4	−0.010%	$16.7M	$21.7M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,181.9	−0.003%	$36.4M	—	200x	as long as short
Nado BTC-PERP	+0.0023%	1h	85,176.1	−0.010%	$24.7M	$222.8M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0023%	1h	85,225	+0.047%	$338K	$26.8M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,149.9	−0.041%	$186.9M	$955.2M	100x	as long as short
BingX BTC-USDT	+0.0066%	8h	85,169.5	−0.018%	—	$1.56B	—	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,127.8	−0.067%	$2.4M	$6.7M	20x	as long as short
Phemex BTCUSDT	+0.0080%	8h	85,143.9	−0.048%	$148.6M	$504.3M	150x	as long as short
MEXC BTC_USDT	+0.0084%	8h	85,176.5	−0.010%	$5.05B	$5.71B	500x	as long as short
Bitget BTCUSDT	+0.0084%	8h	85,177.4	−0.009%	$2.95B	$5.17B	150x	as long as short
SoDEX BTC-USD	+0.0084%	1h	85,132	−0.062%	$59.6M	$335.8M	40x	as long as short
Binance BTCUSDT	+0.0085%	8h	85,174.7	−0.012%	$9.41B	$24.82B	150x	as long as short
Bullet BTC-USD	+0.0087%	1h	85,181.6	−0.004%	$207K	$3.3M	20x	as long as short
Lighter BTC	+0.0096%	1h	85,178.3	−0.008%	$171.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,181.7	−0.004%	$23.7M	$148.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,176	−0.010%	$8.3M	$55.7M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,172	−0.015%	$116.8M	$5.34B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,151	−0.040%	$239K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,235.2	+0.059%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,253	+0.080%	$3.74B	$5.07B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,197.7	+0.015%	$40.1M	$595.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,167.7	−0.020%	$5.15B	$9.93B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,180	−0.006%	$2.58B	$12.17B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,155	−0.035%	$3.8M	$17.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,173.3	−0.013%	$4.6M	$99.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,183.8	−0.001%	$678.4M	$603.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,174.7	−0.012%	$5.49B	$10.93B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,131.3	−0.063%	$35.9M	$174.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,111.9	−0.086%	$154.3M	$569.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,133.5	−0.060%	$278.8M	$944.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,147	−0.044%	$214.0M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,125.3	−0.070%	$139.1M	$315.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,180.9	−0.004%	$30.1M	$205.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,236.3	+0.061%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,170	−0.017%	$11.0M	$14.4M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,136.2	−0.057%	$2.5M	$9.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,176	−0.010%	$217K	$749K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,110.1	−0.088%	$29.9M	$49.7M	15x	as long as short
SunX BTC-USDTshort	+0.0100%	8h	85,147.9	−0.043%	$2.9M	$6.1M	100x
HTX BTC-USDT	+0.0100%	8h	85,126	−0.069%	$2.25B	$947.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,134	−0.060%	$45.3M	$238.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,177	−0.009%	—	$106.8M	500x	as long as short
Reya BTCRUSDPERP	+0.0114%	1h	85,173.2	−0.013%	$6.6M	$147.4M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0131%	1h	85,168.3	−0.019%	$872.3M	$1.61B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,180.1	−0.005%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0180%	8h	85,169	−0.018%	$11.3M	$744.7M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0212%	1h	85,230	+0.053%	$79K	$225K	20x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	85,227.6	+0.050%	$717K	$8.0M	30x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,197.9	+0.015%	$8.6M	$43.1M	25x	as long as short