Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h +0.002%

Price spread now: Aster against ApeX Omni+0.067%69s7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.190% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 7 days−0.057%−$6 · spread now +0.067%, 7d avg −0.007%

Together, before fees−0.100%+ Points / potential airdropAster: Stage 5 · farm board−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.075% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of −0.007%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.3 days. At the pace of the last 7 days (−0.044% in total) that is about 12 days. The two prices were read 69 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BTCUSDT	86,623.7	0.0100	pay 0.0013% / 1h	40m 17s	$141.6M	$323.1M	100x
Short	Aster BTCUSDT	86,681.8	−0.0006	pay 0.0006% / 8h	1h 40m	$506.0M	$1.15B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX 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 ApeX OmnibpFee AsterbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$22.26
Price spread: +0.067% → −0.007%: $7.45
Slippage, 4 orders: −$0.97
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$33.78
Costs to cover: 0.190%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 4 min ago; Aster: live order book, 4 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 ApeX Omni live order book, 4 min ago	0.48 bp	5.5 bp −$5	5.5 bp −$55	11.9 bp −$1,194	38.5 bp −$19.3K
Sell Aster live order book, 4 min ago	0.01 bp	4.0 bp −$4	4.8 bp −$48	5.5 bp −$551	8.3 bp −$4,172

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
Bluefin BTC-PERP	−0.0943%	1h	86,703.5	+0.092%	$141K	$618K	40x	as long as short
Aftermath Perps BTCUSD	−0.0167%	1h	86,646.7	+0.027%	$83K	$206K	20x	as long as short
Phoenix BTC	−0.0159%	1h	86,603	−0.024%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,670	+0.053%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0012%	1h	86,679.3	+0.064%	$17.5M	$20.3M	50x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,702.1	+0.090%	$359K	$2.4M	50x	as long as short
Aster BTCUSDTshort	−0.0006%	8h	86,681.8	+0.067%	$506.0M	$1.15B	200x
Perpl BTC	0.0000%	43m	86,695.7	+0.083%	$419K	$24.0M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,716	+0.107%	$925.8M	$1.47B	50x	as long as short
KuCoin XBTUSDTM	+0.0001%	8h	86,674.7	+0.059%	$852.5M	$707.7M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,705.9	+0.095%	$36.9M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,688.5	+0.075%	$8.6M	$43.2M	25x	as long as short
Phemex BTCUSDT	+0.0021%	8h	86,666.5	+0.049%	$150.0M	$473.4M	150x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,677.8	+0.062%	$6.7M	$144.8M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	−0.075%	$315K	$26.8M	52x	as long as short
BingX BTC-USDC	+0.0032%	8h	86,675.8	+0.060%	—	$15.3M	—	as long as short
Hibachi BTC/USDT-P	+0.0032%	1h	86,712.1	+0.102%	$733K	$8.2M	30x	as long as short
Bitget BTCUSDT	+0.0041%	8h	86,687.8	+0.074%	$2.96B	$5.07B	150x	as long as short
MEXC BTC_USDT	+0.0060%	8h	86,690	+0.077%	$5.19B	$5.63B	500x	as long as short
Binance BTCUSDT	+0.0061%	8h	86,689.9	+0.076%	$9.43B	$24.30B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,673.2	+0.057%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,681.5	+0.067%	$5.86B	$10.64B	200x	as long as short
Bybit BTCUSDT	+0.0090%	8h	86,690.4	+0.077%	$5.28B	$9.69B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,689.6	+0.076%	$172.2M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,701.3	+0.090%	$24.1M	$151.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,685	+0.071%	$8.5M	$52.2M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,670	+0.053%	$206K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,726.8	+0.119%	$4.8M	$8.4M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,679.3	+0.064%	$21.9M	$233.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,764	+0.162%	$3.82B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,712.9	+0.103%	$40.9M	$504.7M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,694.2	+0.081%	$2.55B	$12.71B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,685	+0.071%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,752.2	+0.148%	$7.4M	$93.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,703.1	+0.092%	$573.0M	$18.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,659.6	+0.041%	$38.4M	$153.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,696.3	+0.084%	$156.8M	$565.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,606.7	−0.020%	$279.8M	$943.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,610.1	−0.016%	$217.3M	$177.3M	50x	as long as short
ApeX Omni BTCUSDTlong	+0.0100%	1h	86,623.7	long leg	$141.6M	$323.1M	100x
StandX BTC-USD	+0.0100%	1h	86,664	+0.047%	$30.7M	$203.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,734.1	+0.127%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,687	+0.073%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,688.9	+0.075%	$193K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,692.1	+0.079%	$2.5M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,681.8	+0.067%	$30.1M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,676.7	+0.061%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,681	+0.066%	$60.6M	$337.0M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,663.2	+0.046%	$2.30B	$963.9M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,663.6	+0.046%	$46.3M	$225.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,694.6	+0.082%	—	$98.3M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,722.5	+0.114%	$131.7M	$5.73B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,715.1	+0.106%	$191.8M	$936.9M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0208%	1h	86,701.6	+0.090%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0181%	8h	86,665.7	+0.048%	$415.5M	$652.4M	150x	as long as short
Kalshi KXBTCPERP	+0.0193%	8h	86,719	+0.110%	$9.5M	$727.1M	6.4x	as long as short