Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0037%/8h= +4.1% APRpaid last 24h +0.008%

Price spread now: ApeX Omni against BingX+0.040%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$210.205% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 7 days−0.015%−$1 · spread now +0.040%, 7d avg +0.048%

Together, before fees+0.041%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.048%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BTC-USDC	85,434.1	0.0063	pay 0.0063% / 8h	3h 11m	—	$17.2M	—
Short	ApeX Omni BTCUSDT	85,468.6	0.0100	get 0.0013% / 1h	11m 32s	$139.7M	$316.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now +0.040%Rate

Funding earned: $7.77
Price spread: +0.040% → +0.048%: −$0.73
Slippage, 4 orders: −$0.52
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$13.48
Costs to cover: 0.205%
Break-even: 19.1 days

Slippage from BingX: live order book, 12 min ago; ApeX Omni: live order book, 3 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 BingX live order book, 12 min ago	0.02 bp	5.0 bp −$5	5.0 bp −$50	6.8 bp −$679	8.4 bp −$4,183
Sell ApeX Omni live order book, 3 min ago	0.24 bp	5.2 bp −$5	5.2 bp −$52	10.6 bp −$1,057	38.2 bp −$19.1K

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	−0.0140%	1h	85,504	+0.082%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,469	+0.041%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0045%	8h	85,439	+0.006%	$919.4M	$758.2M	125x	as long as short
BloFin BTC-USDT	−0.0027%	8h	85,453.8	+0.023%	$420.4M	$675.7M	150x	as long as short
Aster BTCUSDT	−0.0009%	8h	85,430.4	−0.004%	$514.4M	$1.10B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	85,460.9	+0.031%	$363K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,475.8	+0.049%	$503K	$18.7M	6.7x	as long as short
Nado BTC-PERP	+0.0002%	1h	85,448.6	+0.017%	$24.4M	$223.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,449.8	+0.018%	$36.5M	—	200x	as long as short
dYdX BTC-USD	+0.0029%	1h	85,493.3	+0.069%	$16.8M	$21.2M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit BTC-PERPETUAL	+0.0043%	1h	85,476.5	+0.050%	$872.2M	$1.60B	50x	as long as short
Injective BTC/USDC PERP	+0.0044%	1h	85,552	+0.138%	$340K	$26.9M	52x	as long as short
SoDEX BTC-USD	+0.0046%	1h	85,430	−0.005%	$59.9M	$335.9M	40x	as long as short
BingX BTC-USDClong	+0.0063%	8h	85,434.1	long leg	—	$17.2M	—
Phemex BTCUSDT	+0.0067%	8h	85,431.4	−0.003%	$148.6M	$497.8M	150x	as long as short
Bitget BTCUSDT	+0.0079%	8h	85,439.8	+0.007%	$2.95B	$5.12B	150x	as long as short
Binance BTCUSDT	+0.0092%	8h	85,445.3	+0.013%	$9.44B	$24.47B	150x	as long as short
MEXC BTC_USDT	+0.0092%	8h	85,451.2	+0.020%	$5.07B	$5.68B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,466.2	+0.038%	$172.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,465.4	+0.037%	$23.9M	$149.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,442	+0.009%	$8.4M	$55.1M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,430.3	−0.004%	$2.8M	$3.5M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,433	−0.001%	$228K	$8.4M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,511.9	+0.091%	$5.7M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,531	+0.113%	$3.79B	$5.02B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,487.3	+0.062%	$40.4M	$591.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,435.6	+0.002%	$5.17B	$9.86B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,451.1	+0.020%	$2.59B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,465	+0.036%	$3.8M	$17.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,452.1	+0.021%	$4.7M	$99.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,455.5	+0.025%	$679.5M	$683.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,452	+0.021%	$5.53B	$10.85B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,431.4	−0.003%	$36.4M	$178.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,488.9	+0.064%	$154.5M	$565.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,455.6	+0.025%	$279.2M	$930.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,470.5	+0.043%	$214.8M	$168.8M	50x	as long as short
ApeX Omni BTCUSDTshort	+0.0100%	1h	85,468.6	+0.040%	$139.7M	$316.0M	100x
StandX BTC-USD	+0.0100%	1h	85,468	+0.040%	$30.2M	$206.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,508.1	+0.087%	—	$11.0M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,445	+0.013%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,437.5	+0.004%	$203K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,426	−0.009%	$2.5M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,478.8	+0.052%	$206K	$737K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,419.3	−0.017%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,433.1	−0.001%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,430.9	−0.004%	$2.26B	$950.1M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,426	−0.010%	$45.8M	$235.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,473.9	+0.047%	—	$106.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,471.4	+0.044%	$117.2M	$5.26B	50x	as long as short
Reya BTCRUSDPERP	+0.0104%	1h	85,434.5	0.000%	$6.6M	$147.2M	40x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,450.7	+0.019%	$187.7M	$956.7M	100x	as long as short
Kalshi KXBTCPERP	+0.0173%	8h	85,482	+0.056%	$11.5M	$753.3M	6.4x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,485	+0.060%	$8.6M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,449.8	+0.018%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,508.7	+0.087%	$700K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0251%	1h	85,514.6	+0.094%	$78K	$222K	20x	as long as short