Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: ApeX Omni against Arcus−0.009%53s7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$160.158% of the position

Long on Arcus Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.010%−$1 on $10k

Price spread, last 7 days−0.016%−$2 · spread now −0.009%, 7d avg −0.024%

Together, before fees−0.026%−$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus BTC-USD	86,701.3	0.0100	pay 0.0013% / 1h	38m 03s	$7.4M	$93.8M	40x
Short	ApeX Omni BTCUSDT	86,693.4	0.0100	get 0.0013% / 1h	38m 03s	$141.7M	$323.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Arcus. 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 ArcusbpFee ApeX OmnibpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → −0.024%: $1.47
Slippage, 4 orders: −$1.31
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$14.34
Costs to cover: 0.158%
Break-even: never at this rate

Slippage from Arcus: live order book, 1 min ago; ApeX Omni: live order book, 1 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 Arcus live order book, 1 min ago	0.01 bp	2.7 bp −$3	3.4 bp −$34	5.3 bp −$532	doesn't fit
Sell ApeX Omni live order book, 1 min ago	0.43 bp	5.4 bp −$5	5.5 bp −$55	10.0 bp −$1,004	40.0 bp −$20.0K

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	−0.0809%	1h	86,685.1	−0.019%	$141K	$618K	40x	as long as short
Aftermath Perps BTCUSD	−0.0161%	1h	86,650.9	−0.058%	$83K	$206K	20x	as long as short
Phoenix BTC	−0.0159%	1h	86,688	−0.015%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,615	−0.100%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0011%	1h	86,628.7	−0.084%	$17.5M	$20.3M	50x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,659.3	−0.048%	$359K	$2.4M	50x	as long as short
Aster BTCUSDT	−0.0007%	8h	86,625.6	−0.087%	$505.5M	$1.15B	200x	as long as short
Perpl BTC	0.0000%	43m	86,655	−0.053%	$419K	$23.9M	6.7x	as long as short
KuCoin XBTUSDTM	+0.0001%	8h	86,630.7	−0.081%	$852.0M	$707.5M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,682.4	−0.022%	$36.9M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0006%	1h	86,639.3	−0.071%	$8.6M	$43.2M	25x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,651.6	−0.057%	$6.7M	$144.8M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	−0.164%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0026%	8h	86,646.7	−0.063%	$150.3M	$473.6M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0030%	1h	86,675.4	−0.030%	$925.3M	$1.47B	50x	as long as short
BingX BTC-USDC	+0.0032%	8h	86,606	−0.110%	—	$15.3M	—	as long as short
Hibachi BTC/USDT-P	+0.0032%	1h	86,713.3	+0.014%	$733K	$8.2M	30x	as long as short
Bitget BTCUSDT	+0.0042%	8h	86,607	−0.109%	$2.96B	$5.07B	150x	as long as short
MEXC BTC_USDT	+0.0061%	8h	86,631.2	−0.081%	$5.19B	$5.64B	500x	as long as short
Binance BTCUSDT	+0.0061%	8h	86,617.8	−0.096%	$9.43B	$24.31B	150x	as long as short
Aevo BTC-PERP	+0.0064%	1h	86,631.1	−0.081%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0077%	8h	86,611.1	−0.104%	$5.86B	$10.65B	200x	as long as short
Bybit BTCUSDT	+0.0090%	8h	86,611.5	−0.104%	$5.27B	$9.69B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,642	−0.068%	$172.3M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,642	−0.068%	$24.1M	$151.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,654	−0.055%	$8.5M	$52.2M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,617	−0.097%	$204K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,659.7	−0.048%	$4.8M	$8.4M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,637	−0.074%	$21.8M	$233.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,692	−0.011%	$3.82B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,650	−0.059%	$41.1M	$505.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,607.5	−0.108%	$2.55B	$12.69B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,623	−0.090%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USDlong	+0.0100%	1h	86,701.3	long leg	$7.4M	$93.8M	40x
Bulk BTC-USD	+0.0100%	1h	86,703.1	+0.002%	$573.0M	$18.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,626	−0.087%	$38.5M	$153.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,696.3	−0.006%	$156.8M	$565.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,683.8	−0.020%	$280.1M	$943.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,681.9	−0.022%	$217.5M	$175.1M	50x	as long as short
ApeX Omni BTCUSDTshort	+0.0100%	1h	86,693.4	−0.009%	$141.7M	$323.1M	100x
StandX BTC-USD	+0.0100%	1h	86,679.7	−0.025%	$30.8M	$203.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,700.9	0.000%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,661	−0.046%	$11.1M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,666.6	−0.040%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,664.9	−0.042%	$2.4M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,636.5	−0.075%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,628.3	−0.084%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,636	−0.075%	$60.5M	$337.0M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,654.4	−0.054%	$2.30B	$964.1M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,618.7	−0.095%	$46.3M	$225.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,662.4	−0.045%	—	$98.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,680.7	−0.024%	$131.8M	$5.72B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,671.8	−0.034%	$191.8M	$937.0M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0208%	1h	86,678.6	−0.026%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0181%	8h	86,634.4	−0.077%	$415.3M	$652.1M	150x	as long as short
Kalshi KXBTCPERP	+0.0194%	8h	86,663	−0.044%	$9.7M	$727.7M	6.4x	as long as short