BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0110%/8h= −12.0% APRnext payment −$0.14 per $10,000 · paid last 24h −0.021%

Price spread now: dYdX against ApeX Omni−0.129%50s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as 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−$230.231% of the position

Long on ApeX Omni Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.142%−$14 on $10k

Price spread, last 7 days+0.160%+$16 · spread now −0.129%, 7d avg −0.012%

Together, before fees+0.018%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.118% cheaper against ApeX Omni than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.012%). Swap the legs. The two prices were read 50 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	86,642.9	0.0100	pay 0.0013% / 1h	34m 00s	$141.6M	$323.1M	100x
Short	dYdX BTC-USD	86,530.8	−0.0010	pay 0.0001% / 1h	34m 00s	$17.3M	$20.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.129%Rate

Funding earned: −$23.11
Price spread: −0.129% → −0.012%: −$11.76
Slippage, 4 orders: −$3.12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$57.99
Costs to cover: 0.231%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 5 min ago; dYdX: live order book, just now.

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, 5 min ago	0.43 bp	5.4 bp −$5	5.4 bp −$54	11.9 bp −$1,191	38.9 bp −$19.5K
Sell dYdX live order book, just now	0.46 bp	6.8 bp −$7	11.5 bp −$115	15.5 bp −$1,546	35.7 bp −$17.8K

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	−0.0612%	1h	86,511.6	−0.152%	$140K	$618K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,627	−0.018%	$2.2M	$11.8M	40x	as long as short
Aftermath Perps BTCUSD	−0.0120%	1h	86,599	−0.051%	$83K	$216K	20x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,522	−0.140%	$9K	$3K	50x	as long as short
dYdX BTC-USDshort	−0.0010%	1h	86,530.8	−0.129%	$17.3M	$20.5M	50x
Aster BTCUSDT	−0.0010%	8h	86,488.9	−0.178%	$504.7M	$1.15B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,494	−0.172%	$358K	$2.4M	50x	as long as short
KuCoin XBTUSDTM	0.0000%	8h	86,493.7	−0.172%	$851.0M	$708.6M	125x	as long as short
Perpl BTC	0.0000%	43m	86,522.6	−0.139%	$419K	$23.8M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,532.3	−0.128%	$923.2M	$1.47B	50x	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	86,513.7	−0.149%	$36.8M	—	200x	as long as short
RISEx BTC/USDC	+0.0006%	1h	86,484.3	−0.183%	$8.5M	$43.2M	25x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,444.9	−0.229%	$6.7M	$144.9M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	−0.097%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0032%	8h	86,494.8	−0.171%	$149.9M	$475.7M	150x	as long as short
BingX BTC-USDT	+0.0034%	8h	86,520.9	−0.141%	—	$1.59B	—	as long as short
Bitget BTCUSDT	+0.0043%	8h	86,526.4	−0.134%	$2.95B	$5.08B	150x	as long as short
Hibachi BTC/USDT-P	+0.0048%	1h	86,562.5	−0.093%	$729K	$8.2M	30x	as long as short
MEXC BTC_USDT	+0.0060%	8h	86,522.7	−0.139%	$5.17B	$5.65B	500x	as long as short
Binance BTCUSDT	+0.0060%	8h	86,521.1	−0.141%	$9.42B	$24.32B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,482	−0.186%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0075%	8h	86,494.2	−0.172%	$5.85B	$10.66B	200x	as long as short
Bybit BTCUSDT	+0.0089%	8h	86,515	−0.148%	$5.27B	$9.71B	150x	as long as short
SoDEX BTC-USD	+0.0095%	1h	86,495	−0.171%	$60.5M	$337.1M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,506.6	−0.157%	$171.4M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,516.2	−0.146%	$24.0M	$151.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,476	−0.193%	$8.5M	$52.2M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,468	−0.202%	$201K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,551.7	−0.105%	$4.8M	$8.4M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,495.2	−0.171%	$21.8M	$233.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,574	−0.080%	$3.81B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,549.1	−0.108%	$41.1M	$505.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,525.9	−0.135%	$2.54B	$12.70B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,496	−0.170%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,570.7	−0.083%	$7.4M	$93.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,703.1	+0.069%	$573.0M	$18.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,491	−0.175%	$38.4M	$153.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,541.3	−0.117%	$156.5M	$566.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,594.3	−0.056%	$279.8M	$944.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,592.5	−0.058%	$217.3M	$173.9M	50x	as long as short
ApeX Omni BTCUSDTlong	+0.0100%	1h	86,642.9	long leg	$141.6M	$323.1M	100x
StandX BTC-USD	+0.0100%	1h	86,563.2	−0.092%	$30.7M	$203.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,530.5	−0.130%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,467	−0.203%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,463.4	−0.207%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,497.6	−0.168%	$2.4M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,490.6	−0.176%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,510.7	−0.153%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,474.5	−0.194%	$2.30B	$965.0M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,509.3	−0.154%	$46.4M	$225.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,526.2	−0.135%	—	$98.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,543	−0.115%	$131.7M	$5.70B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,531.7	−0.128%	$191.2M	$937.6M	100x	as long as short
BloFin BTC-USDT	+0.0181%	8h	86,533.4	−0.126%	$414.3M	$651.5M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0182% / S −0.0216%	1h	86,505	−0.159%	$15.4M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0195%	8h	86,522	−0.140%	$9.6M	$728.9M	6.4x	as long as short