Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h +0.005%

Price spread now: MEXC against ApeX Omni+0.066%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$7as in the Price arb table

costs, in and out, $10k−$150.145% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 7 days−0.058%−$6 · spread now +0.066%, 7d avg −0.009%

Together, before fees−0.081%−$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.075% dearer against ApeX Omni than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BTCUSDT	85,461	0.0100	pay 0.0013% / 1h	25m 23s	$139.8M	$314.6M	100x
Short	MEXC BTC_USDT	85,517.2	0.0095	get 0.0095% / 8h	4h 25m	$5.05B	$5.63B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$1.05
Price spread: +0.066% → −0.009%: $7.48
Slippage, 4 orders: −$0.5
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$8.08
Costs to cover: 0.145%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 4 min ago; MEXC: 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	0.23 bp	5.2 bp −$5	5.2 bp −$52	7.5 bp −$748	40.9 bp −$20.4K
Sell MEXC live order book, 4 min ago	0.01 bp	2.0 bp −$2	2.1 bp −$21	2.2 bp −$223	2.7 bp −$1,352

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	−0.0179%	1h	85,485	+0.028%	$2.1M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,485	+0.028%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,510.9	+0.058%	$365K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0024%	8h	85,505.5	+0.052%	$417.1M	$667.7M	150x	as long as short
KuCoin XBTUSDTM	−0.0018%	8h	85,489.7	+0.034%	$921.6M	$750.7M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,526.9	+0.077%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0012%	8h	85,500	+0.046%	$515.4M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0016%	1h	85,497.7	+0.043%	$16.7M	$21.3M	50x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,482.3	+0.025%	$4.9M	$97.9M	40x	as long as short
Nado BTC-PERP	+0.0025%	1h	85,492.8	+0.037%	$25.2M	$222.1M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0062%	8h	85,518.6	+0.067%	—	$1.55B	—	as long as short
Phemex BTCUSDT	+0.0073%	8h	85,505.4	+0.052%	$147.6M	$487.3M	150x	as long as short
Bitget BTCUSDT	+0.0078%	8h	85,521.2	+0.070%	$2.95B	$5.07B	150x	as long as short
Reya BTCRUSDPERP	+0.0082%	1h	85,509.2	+0.056%	$6.7M	$146.8M	40x	as long as short
MEXC BTC_USDTshort	+0.0095%	8h	85,517.2	+0.066%	$5.05B	$5.63B	500x
Binance BTCUSDT	+0.0096%	8h	85,521.6	+0.071%	$9.36B	$24.13B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,518.3	+0.067%	$173.0M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,515.8	+0.064%	$23.9M	$149.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,517	+0.066%	$8.4M	$52.9M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,513.9	+0.062%	$2.5M	$1.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,482	+0.025%	$211K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,562.9	+0.119%	$4.8M	$8.9M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,589	+0.150%	$3.74B	$4.99B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,532.8	+0.084%	$40.7M	$580.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,512.9	+0.061%	$5.21B	$9.81B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,532.9	+0.084%	$2.58B	$12.14B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,507	+0.054%	$3.8M	$18.2M	25x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,526.3	+0.076%	$5.51B	$10.72B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,492.5	+0.037%	$35.6M	$176.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,455.5	−0.006%	$153.7M	$564.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,449	−0.014%	$279.2M	$919.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,448.2	−0.015%	$214.5M	$169.2M	50x	as long as short
ApeX Omni BTCUSDTlong	+0.0100%	1h	85,461	long leg	$139.8M	$314.6M	100x
StandX BTC-USD	+0.0100%	1h	85,491.4	+0.036%	$30.2M	$208.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,560.4	+0.116%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,509	+0.056%	$11.0M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,517.1	+0.066%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,517.7	+0.066%	$2.4M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,562.6	+0.119%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,513.1	+0.061%	$29.9M	$50.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,498	+0.043%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,522	+0.071%	$59.9M	$336.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,505.8	+0.052%	$2.26B	$942.2M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,369.3	−0.107%	$653.8M	$618.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,495.5	+0.040%	$44.7M	$230.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,528.5	+0.079%	—	$107.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,559.6	+0.115%	$117.1M	$5.18B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0138%	1h	85,560.6	+0.117%	$884.2M	$1.56B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,475	+0.016%	$339K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,535.9	+0.088%	$187.6M	$955.0M	100x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,532.6	+0.084%	$8.2M	$42.5M	25x	as long as short
Aftermath Perps BTCUSD	+0.0202%	1h	85,520.1	+0.069%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0177%	1h	85,523.6	+0.073%	$13.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0208%	1h	85,509.7	+0.057%	$703K	$7.9M	30x	as long as short
Kalshi KXBTCPERP	+0.0218%	8h	85,525	+0.075%	$10.4M	$756.6M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,523.6	+0.073%	$501K	$18.8M	6.7x	as long as short