Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

BTC

all BTC markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 23:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.002%
Price spread now: MEXC against Backpack+0.012%7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$2as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$140.140% of the position
Long on BackpackShort on MEXC
What this pair did over the last
the charts below follow
Funding, last 7 days+0.122%+$12 on $10k
Price spread, last 7 days+0.485%+$48 · spread now +0.012%, 7d avg +0.014%
Together, before fees+0.607%+$61 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.122%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack BTC_USDC_PERP86,391.90.0100pay 0.0013% / 1h17m 10s$37.8M$155.2M75x
ShortMEXC BTC_USDT86,402.10.0064get 0.0064% / 8h1h 17m$5.13B$5.70B500x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

MEXC against Backpack. 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
−$7.56
Price spread: +0.012% → +0.014%
−$0.2
Slippage, 4 orders
−$0.02
Fee Backpack: 5 bp × 2 orders
−$10
Fee MEXC: 2 bp × 2 orders
−$4
Net
−$21.79
Costs to cover
0.140%
Break-even
never at this rate
Slippage from Backpack: live order book, 2 min ago; MEXC: 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 Backpack live order book, 2 min ago0.01 bp5.0 bp −$55.0 bp −$505.6 bp −$562150.2 bp −$75.1K
Sell MEXC live order book, 2 min ago0.01 bp2.0 bp −$22.0 bp −$202.0 bp −$2022.2 bp −$1,100

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
Bluefin BTC-PERP−0.0795%1h86,419.3+0.032%$140K$620K40xas long as short
Phoenix BTC−0.0159%1h86,503+0.129%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,431+0.045%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0016%1h86,439.2+0.055%$358K$2.4M50xas long as short
Aster BTCUSDT−0.0009%8h86,406.6+0.017%$503.6M$1.15B200xas long as short
Perpl BTC0.0000%43m86,459.6+0.078%$423K$23.7M6.7xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,434.3+0.049%$920.7M$1.48B50xas long as short
KuCoin XBTUSDTM+0.0002%8h86,396.9+0.006%$851.4M$711.6M125xas long as short
dYdX BTC-USD+0.0004%1h86,452.8+0.070%$17.0M$21.1M50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,422.8+0.036%$36.8M—200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
RISEx BTC/USDC+0.0006%1h86,439+0.054%$8.5M$42.9M25xas long as short
Aftermath Perps BTCUSD+0.0011%1h86,486.3+0.109%$82K$217K20xas long as short
Reya BTCRUSDPERP+0.0023%1h86,398.5+0.008%$6.7M$145.0M40xas long as short
Injective BTC/USDC PERP+0.0024%1h86,559+0.193%$315K$26.8M52xas long as short
BingX BTC-USDC+0.0035%8h86,395.4+0.004%—$15.3M—as long as short
Phemex BTCUSDT+0.0038%8h86,415.6+0.027%$150.0M$476.9M150xas long as short
Bitget BTCUSDT+0.0046%8h86,394.8+0.003%$2.95B$5.10B150xas long as short
MEXC BTC_USDTshort+0.0064%8h86,402.1+0.012%$5.13B$5.70B500x
Aevo BTC-PERP+0.0064%1h86,395.1+0.004%$2.4M$1.3M20xas long as short
Binance BTCUSDT+0.0064%8h86,405.6+0.016%$9.43B$24.43B150xas long as short
Gate BTC_USDT+0.0079%8h86,406.3+0.017%$5.84B$10.74B200xas long as short
Bybit BTCUSDT+0.0092%8h86,409.2+0.020%$5.25B$9.77B150xas long as short
Lighter BTC+0.0096%1h86,418+0.030%$170.6M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,426.5+0.040%$24.1M$152.4M50xas long as short
Popdex BTCUSDT+0.0096%1h86,428+0.042%$8.5M$52.3M100xas long as short
Hibachi BTC/USDT-P+0.0096%1h86,499.1+0.124%$717K$8.2M30xas long as short
Katana Perps BTC-USD+0.0100%8h86,408+0.019%$199K$6.9M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,470.8+0.091%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,454.1+0.072%$21.8M$234.5M50xas long as short
Hyperliquid BTC+0.0100%1h86,475+0.096%$3.80B$5.09B40xas long as short
Pacifica BTC+0.0100%1h86,464.8+0.084%$40.8M$513.8M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,410.7+0.022%$2.53B$12.72B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,433+0.048%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,491.5+0.115%$7.4M$94.6M40xas long as short
Bulk BTC-USD+0.0100%1h86,498.7+0.124%$571.7M$18.6M40xas long as short
Backpack BTC_USDC_PERPlong+0.0100%1h86,391.9long leg$37.8M$155.2M75x
Variational Omni BTC+0.0100%8h86,498.8+0.124%$156.2M$568.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,531.2+0.161%$279.7M$948.9M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,484.2+0.107%$217.3M$176.0M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,540.1+0.172%$141.5M$323.4M100xas long as short
StandX BTC-USD+0.0100%1h86,483+0.105%$30.7M$203.7M40xas long as short
Vest BTC-PERP+0.0100%1h86,478.9+0.101%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,413+0.024%$11.1M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,402.5+0.012%$189K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,408.7+0.019%$2.4M$8.7M100xas long as short
Derive BTC-PERP+0.0100%1h86,407.4+0.018%$30.4M$61.6M15xas long as short
SunX BTC-USDT+0.0100%8h86,406.2+0.017%$3.4M$5.4M100xas long as short
SoDEX BTC-USD+0.0100%1h86,402+0.012%$60.4M$337.2M40xas long as short
HTX BTC-USDT+0.0100%8h86,395.6+0.004%$2.29B$968.5M200xas long as short
Extended BTC-USD+0.0104%1h86,386.1−0.007%$45.5M$226.0M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,449.7+0.067%—$98.8M500xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,444.1+0.060%$131.5M$5.69B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,424.9+0.038%$191.1M$943.8M100xas long as short
BloFin BTC-USDT+0.0184%8h86,401.9+0.012%$414.3M$653.7M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0185% / S −0.0211%1h86,415.2+0.027%$15.2M—200xas long as short
Kalshi KXBTCPERP+0.0199%8h86,460+0.079%$9.8M$734.2M6.4xas long as short