BTW · Convergence Trade
Current Spread (mark)
⚠ data may be stale · 4m old+0.125%higher than 26% of spread values(window 1D)
long $0.7112 · short $0.7121(long 4m / short 2m old)
Entry Spread (order book)-1.107%on $10,000thin book — size does not fully fill
long $0.7226 · short $0.7146(average execution prices, not mark)
market median $0.7099· long +0.2%· short +0.3%
Size per leg$= $20,000 total
every figure below scales from thisProfit Calculator
This spread does not cover its own costs
The spread is 0.13%, but entry and exit cost 0.20% of the position. The trade is a loss at entry regardless of how the spread moves afterwards. Reduce the size, or pick another pair.
Three scenarios: the current spread 0.13% compresses to the target (0% = full convergence). Sized at $10,000 per leg.
| If spread converges to↓ target spread | 0% | 0.50% | 1.00% |
|---|---|---|---|
| Gross profit | +$12.51 | -$37.49 | -$87.49 |
| Round-trip fees | −$22.00 | −$22.00 | −$22.00 |
| Slippage(loading orderbook…) | — | — | — |
| Funding drag(est. 1h hold) | +$2.11 | +$2.11 | +$2.11 |
| Net potential | -$7.38 | -$57.38 | -$107.38 |
Breakeven move 0.1989%·Tradeability: 0.6× round-trip cost · do not trade — spread below breakeven
⏱ Hold time (estimated from history)
The current spread is already near its typical level (median 0.58%) — most of the convergence has happened, little potential left.
Estimate of historical spread behavior — not a guarantee of the future.
Spread Statistics
Window: 24h · 282 samples
Current
+0.125%
26 pct
Median
+0.473%
Average
+0.607%
P25 → P75
+0.112% … +1.012%
Range
-3.448% … +9.491%
Std dev
±0.997%
tf
LONG
OKX(cex)
OKX(cex)- Mark Price
- $0.7112
- Exchange Ticker
- BTW-USDT-SWAP
- Taker / Maker
- 0.05% / 0.02%
- Funding APR(4h)
- -5.29%
- OI
- $1.31M
- 24h Vol
- $15.93M
⚠ slippage not modeled (virtual liquidity / RFQ venue)
Trade LongSHORT
KuCoin(cex)
KuCoin(cex)- Mark Price
- $0.7121
- Exchange Ticker
- BTWUSDTM
- Taker / Maker
- 0.06% / 0.02%
- Funding APR(4h)
- +179.48%
- OI
- $3.31M
- 24h Vol
- $4.49M
⚠ slippage not modeled (virtual liquidity / RFQ venue)
Trade Short259 long / 260 short samples · 2 days · auto-refresh every 30s