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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.009%
Price spread now: Popdex against ApeX Omni+0.048%7-day average −0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$170.172% of the position
Long on ApeX OmniShort on Popdex
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.015%+$1 on $10k
Price spread, last 7 days−0.030%−$3 · spread now +0.048%, 7d avg −0.004%
Together, before fees−0.016%−$2 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: Popdex is 0.052% dearer against ApeX Omni than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.004%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni BTCUSDT86,626.60.0100pay 0.0013% / 1h26m 48s$141.4M$322.8M100x
ShortPopdex BTCUSDT86,6680.0096get 0.0012% / 1h26m 48s$8.5M$52.3M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Popdex 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

Funding earned
−$0.84
Price spread: +0.048% → −0.004%
$5.2
Slippage, 4 orders
−$0.76
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Net
−$12.81
Costs to cover
0.172%
Break-even
never at this rate
Slippage from ApeX Omni: live order book, 2 min ago; Popdex: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy ApeX Omni live order book, 2 min ago0.24 bp5.2 bp −$55.2 bp −$528.6 bp −$86436.1 bp −$18.0K
Sell Popdex live order book, 2 min ago0.06 bp3.3 bp −$33.4 bp −$343.7 bp −$3745.1 bp −$2,534

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps BTCUSD−0.0234%1h86,639.4+0.015%$85K$188K20xas long as short
Perpl BTC−0.0223%43m86,688.7+0.072%$427K$24.8M6.7xas long as short
Phoenix BTC−0.0103%1h86,583−0.050%$2.2M$12.4M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,653+0.031%$9K$3K50xas long as short
dYdX BTC-USD−0.0077%1h86,673.4+0.054%$17.6M$20.5M50xas long as short
01 Exchange BTCUSD0.0000%1h86,692.5+0.076%$364K$2.4M50xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,715.7+0.103%$935.3M$1.44B50xas long as short
KuCoin XBTUSDTM+0.0002%8h86,672.4+0.053%$844.5M$704.6M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,702.4+0.088%$36.9M—200xas long as short
Aster BTCUSDT+0.0008%8h86,684+0.066%$506.3M$1.16B200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0021%1h86,677.7+0.059%$6.7M$144.4M40xas long as short
Phemex BTCUSDT+0.0023%8h86,679.3+0.061%$150.0M$471.5M150xas long as short
BingX BTC-USDC+0.0023%8h86,693.2+0.077%—$15.3M—as long as short
Bitget BTCUSDT+0.0032%8h86,696.4+0.081%$2.95B$5.07B150xas long as short
Injective BTC/USDC PERP+0.0049%1h86,639+0.014%$315K$26.8M52xas long as short
MEXC BTC_USDT+0.0054%8h86,684.9+0.067%$5.18B$5.68B500xas long as short
Binance BTCUSDT+0.0055%8h86,698.7+0.083%$9.45B$24.31B150xas long as short
Aevo BTC-PERP+0.0056%1h86,679.2+0.061%$2.4M$1.3M20xas long as short
RISEx BTC/USDC+0.0063%1h86,676.1+0.057%$9.2M$42.0M25xas long as short
Gate BTC_USDT+0.0077%8h86,699.8+0.085%$5.86B$10.64B200xas long as short
OKX BTC-USDT-SWAP+0.0077%8h86,712.6+0.099%$2.56B$12.72B100xas long as short
Bybit BTCUSDT+0.0083%8h86,698.7+0.083%$5.27B$9.67B150xas long as short
Variational Omni BTC+0.0095%8h86,614.5−0.014%$160.3M$564.8M—as long as short
Lighter BTC+0.0096%1h86,697.7+0.082%$171.9M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,699+0.084%$24.0M$153.6M50xas long as short
Popdex BTCUSDTshort+0.0096%1h86,668+0.048%$8.5M$52.3M100x
Katana Perps BTC-USD+0.0100%8h86,662+0.041%$194K$6.8M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,714.5+0.102%$4.8M$8.2M50xas long as short
Nado BTC-PERP+0.0100%1h86,668.7+0.049%$21.8M$235.5M50xas long as short
Hyperliquid BTC+0.0100%1h86,770.3+0.166%$3.82B$5.13B40xas long as short
Pacifica BTC+0.0100%1h86,697.6+0.082%$40.9M$492.6M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,664+0.043%$3.9M$18.5M25xas long as short
Arcus BTC-USD+0.0100%1h86,738.9+0.130%$7.4M$93.6M40xas long as short
Bulk BTC-USD+0.0100%1h86,577.9−0.056%$571.8M$22.4M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,681.7+0.064%$38.2M$148.4M75xas long as short
edgeX BTCUSDC+0.0100%4h86,587−0.046%$279.7M$950.9M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,622.1−0.005%$217.5M$187.8M50xas long as short
ApeX Omni BTCUSDTlong+0.0100%1h86,626.6long leg$141.4M$322.8M100x
StandX BTC-USD+0.0100%1h86,625.2−0.002%$30.8M$205.2M40xas long as short
Vest BTC-PERP+0.0100%1h86,724.6+0.113%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,680+0.062%$11.1M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,682.2+0.064%$196K$3.4M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,694.9+0.079%$2.5M$8.5M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,708.4+0.094%$141K$619K40xas long as short
Derive BTC-PERP+0.0100%1h86,687.8+0.071%$30.0M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,666+0.046%$3.4M$5.5M100xas long as short
SoDEX BTC-USD+0.0100%1h86,682+0.064%$60.5M$336.4M40xas long as short
HTX BTC-USDT+0.0100%8h86,680+0.062%$2.30B$957.3M200xas long as short
Extended BTC-USD+0.0104%1h86,676.6+0.058%$46.4M$228.0M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,698.1+0.083%—$98.4M500xas long as short
Kraken Futures PF_XBTUSD+0.0116%1h86,714.9+0.102%$188.4M$932.0M100xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,723+0.111%$132.0M$5.86B50xas long as short
Kalshi KXBTCPERP+0.0126%8h86,695+0.079%$9.0M$723.7M6.4xas long as short
BloFin BTC-USDT+0.0175%8h86,679.4+0.061%$417.3M$653.6M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0179% / S −0.0189%1h86,691.8+0.075%$15.1M—200xas long as short
Hibachi BTC/USDT-P+0.0224%1h86,666.7+0.046%$614K$7.1M30xas long as short