Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: ApeX Omni against Binance−0.129%99s7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as 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−$210.205% of the position

Long on Binance Short on ApeX Omni

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+0.122%+$12 · spread now −0.129%, 7d avg +0.008%

Together, before fees+0.145%+$14 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: ApeX Omni is 0.137% cheaper against Binance than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.008%. The two prices were read 99 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	Binance BTCUSDT	85,672.8	0.0100	pay 0.0100% / 8h	3h 59m	$9.39B	$24.25B	150x
Short	ApeX Omni BTCUSDT	85,562.4	0.0100	get 0.0013% / 1h	59m 47s	$139.9M	$314.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.129%Rate

Funding earned: $0
Price spread: −0.129% → +0.008%: −$13.65
Slippage, 4 orders: −$0.54
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$34.19
Costs to cover: 0.205%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; ApeX Omni: 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 Binance live order book, 14 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.3 bp −$532	6.6 bp −$3,281
Sell ApeX Omni live order book, 4 min ago	0.26 bp	5.3 bp −$5	5.3 bp −$53	8.0 bp −$804	38.3 bp −$19.2K

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	85,565	−0.126%	$2.1M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,581	−0.107%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,603.9	−0.080%	$367K	$2.3M	50x	as long as short
KuCoin XBTUSDTM	−0.0035%	8h	85,643.7	−0.034%	$922.5M	$752.1M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,600	−0.085%	$417.7M	$670.1M	150x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,636.3	−0.043%	$36.6M	—	200x	as long as short
dYdX BTC-USD	+0.0010%	1h	85,629.7	−0.050%	$16.8M	$21.3M	50x	as long as short
Nado BTC-PERP	+0.0011%	1h	85,600.6	−0.084%	$25.0M	$221.9M	50x	as long as short
Aster BTCUSDT	+0.0014%	8h	85,643.4	−0.034%	$516.2M	$1.10B	200x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,603.5	−0.081%	$4.2M	$98.2M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0063%	8h	85,661.6	−0.013%	—	$17.1M	—	as long as short
Phemex BTCUSDT	+0.0065%	8h	85,624.2	−0.057%	$148.6M	$489.1M	150x	as long as short
Bitget BTCUSDT	+0.0079%	8h	85,660.5	−0.014%	$2.96B	$5.10B	150x	as long as short
Bluefin BTC-PERP	+0.0081%	1h	85,675.6	+0.003%	$207K	$739K	40x	as long as short
Reya BTCRUSDPERP	+0.0088%	1h	85,626.4	−0.054%	$6.6M	$146.9M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,642.4	−0.035%	$172.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,641.9	−0.036%	$23.9M	$149.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,618	−0.064%	$8.7M	$53.6M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,618.2	−0.064%	$2.5M	$1.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,586	−0.101%	$204K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,670.3	−0.003%	$5.2M	$9.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,747	+0.087%	$3.79B	$5.01B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,644.7	−0.033%	$40.3M	$581.6M	50x	as long as short
Binance BTCUSDTlong	+0.0100%	8h	85,672.8	long leg	$9.39B	$24.25B	150x
Bybit BTCUSDT	+0.0100%	8h	85,669.9	−0.003%	$5.21B	$9.82B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,674.5	+0.002%	$2.59B	$12.18B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,624	−0.057%	$3.8M	$17.8M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,487.5	−0.216%	$672.1M	$698.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,670	−0.003%	$5.52B	$10.78B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,670.3	−0.003%	$5.07B	$5.67B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,614.6	−0.068%	$35.7M	$177.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,565.9	−0.125%	$153.8M	$564.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,523.8	−0.174%	$279.4M	$922.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,554.3	−0.138%	$214.7M	$167.9M	50x	as long as short
ApeX Omni BTCUSDTshort	+0.0100%	1h	85,562.4	−0.129%	$139.9M	$314.9M	100x
StandX BTC-USD	+0.0100%	1h	85,544.2	−0.150%	$30.2M	$208.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,662.5	−0.012%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,620	−0.062%	$11.1M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,633.7	−0.046%	$194K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,626.8	−0.054%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,618.9	−0.063%	$30.0M	$50.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,595.5	−0.090%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,633	−0.046%	$60.0M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,620.6	−0.061%	$2.27B	$943.3M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,632.9	−0.047%	$44.8M	$231.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,592.5	−0.094%	—	$107.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,665.9	−0.008%	$117.3M	$5.21B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0106%	1h	85,669.5	−0.004%	$886.7M	$1.58B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,610	−0.073%	$340K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,648.4	−0.028%	$187.7M	$953.6M	100x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,638.9	−0.040%	$8.4M	$42.6M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0178%	1h	85,634.1	−0.045%	$13.2M	—	200x	as long as short
Aftermath Perps BTCUSD	+0.0211%	1h	85,558.2	−0.134%	$78K	$220K	20x	as long as short
Kalshi KXBTCPERP	+0.0220%	8h	85,638	−0.041%	$10.4M	$755.0M	6.4x	as long as short
Hibachi BTC/USDT-P	+0.0256%	1h	85,621.2	−0.060%	$702K	$7.8M	30x	as long as short
Perpl BTC	+0.0335%	43m	85,617.5	−0.065%	$496K	$18.8M	6.7x	as long as short