Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h +0.004%

Price spread now: ApeX Omni against Bitget+0.202%113s7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as 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−$240.237% of the position

Long on Bitget Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 7 days−0.217%−$22 · spread now +0.202%, 7d avg +0.008%

Together, before fees−0.173%−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and ApeX Omni is 0.194% dearer against Bitget than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.008%. The two prices were read 113 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	Bitget BTCUSDT	86,630.6	0.0026	pay 0.0026% / 8h	2h 51m	$2.95B	$5.08B	150x
Short	ApeX Omni BTCUSDT	86,805.9	0.0100	get 0.0013% / 1h	51m 42s	$142.0M	$322.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bitget. 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 BitgetbpFee ApeX OmnibpOrdersPrice spread, now +0.202%Rate

Funding earned: $15.54
Price spread: +0.202% → +0.008%: $19.39
Slippage, 4 orders: −$1.7
Fee Bitget: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $11.23
Costs to cover: 0.237%
Break-even: 1.9 days

Slippage from Bitget: live order book, 3 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 Bitget live order book, 3 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.0 bp −$601	doesn't fit
Sell ApeX Omni live order book, 3 min ago	0.84 bp	5.8 bp −$6	5.8 bp −$58	9.6 bp −$964	40.2 bp −$20.1K

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
Perpl BTC	−0.0335%	43m	86,676.3	+0.053%	$425K	$25.4M	6.7x	as long as short
Aftermath Perps BTCUSD	−0.0192%	1h	86,795.1	+0.190%	$85K	$188K	20x	as long as short
Phoenix BTC	−0.0103%	1h	86,701	+0.081%	$2.2M	$12.4M	40x	as long as short
dYdX BTC-USD	−0.0086%	1h	86,696.3	+0.076%	$18.1M	$19.9M	50x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,660	+0.034%	$9K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0002%	8h	86,626.8	−0.004%	$845.2M	$709.5M	125x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,668.2	+0.043%	$361K	$2.5M	50x	as long as short
Kalshi KXBTCPERP	0.0000%	8h	86,715	+0.097%	$8.8M	$725.1M	6.4x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,702.9	+0.083%	$921.9M	$1.38B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,698.3	+0.078%	$36.7M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BTCUSDT	+0.0014%	8h	86,629.9	−0.001%	$505.8M	$1.16B	200x	as long as short
Bluefin BTC-PERP	+0.0015%	1h	86,690.8	+0.069%	$141K	$619K	40x	as long as short
BingX BTC-USDT	+0.0019%	8h	86,640.6	+0.012%	—	$1.59B	—	as long as short
Reya BTCRUSDPERP	+0.0021%	1h	86,671	+0.047%	$6.8M	$143.9M	40x	as long as short
Phemex BTCUSDT	+0.0022%	8h	86,660.2	+0.034%	$149.5M	$469.5M	150x	as long as short
Bitget BTCUSDTlong	+0.0026%	8h	86,630.6	long leg	$2.95B	$5.08B	150x
MEXC BTC_USDT	+0.0047%	8h	86,632.3	+0.002%	$5.20B	$5.63B	500x	as long as short
Binance BTCUSDT	+0.0048%	8h	86,629.6	−0.001%	$9.44B	$24.35B	150x	as long as short
Aevo BTC-PERP	+0.0048%	1h	86,670.5	+0.046%	$2.4M	$1.3M	20x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,732	+0.117%	$315K	$26.8M	52x	as long as short
OKX BTC-USDT-SWAP	+0.0058%	8h	86,639.7	+0.011%	$2.58B	$12.72B	100x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,658.6	+0.032%	$9.0M	$42.1M	25x	as long as short
Gate BTC_USDT	+0.0063%	8h	86,642.1	+0.013%	$5.85B	$10.56B	200x	as long as short
Bybit BTCUSDT	+0.0077%	8h	86,636	+0.006%	$5.28B	$9.69B	150x	as long as short
Variational Omni BTC	+0.0088%	8h	86,792.9	+0.187%	$161.2M	$563.4M	—	as long as short
GRVT BTC_USDT_Perp	+0.0095%	8h	86,798	+0.193%	$217.8M	$191.2M	50x	as long as short
Lighter BTC	+0.0096%	1h	86,647.6	+0.020%	$172.2M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,656.8	+0.030%	$24.1M	$152.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,642	+0.013%	$8.5M	$52.1M	100x	as long as short
Orderly PERP_BTC_USDC	+0.0098%	8h	86,675.4	+0.052%	$2.5M	$8.4M	100x	as long as short
SoDEX BTC-USD	+0.0099%	1h	86,658	+0.032%	$60.5M	$336.4M	40x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,676.4	+0.053%	$4.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,631	0.000%	$201K	$6.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,658.2	+0.032%	$21.9M	$237.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,728	+0.112%	$3.85B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,668.3	+0.043%	$41.5M	$484.5M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,636	+0.006%	$3.9M	$18.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,718	+0.101%	$7.6M	$95.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,665	+0.040%	$572.2M	$23.5M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,662.8	+0.037%	$38.2M	$148.1M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,752.1	+0.140%	$280.2M	$945.8M	100x	as long as short
ApeX Omni BTCUSDTshort	+0.0100%	1h	86,805.9	+0.202%	$142.0M	$322.7M	100x
StandX BTC-USD	+0.0100%	1h	86,692.9	+0.072%	$30.8M	$205.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,740.3	+0.127%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,680	+0.057%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,670.8	+0.046%	$201K	$3.4M	20x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,672.9	+0.049%	$30.0M	$61.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,668.1	+0.043%	$3.4M	$5.6M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,663.6	+0.038%	$2.30B	$954.4M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,631.8	+0.001%	$46.3M	$228.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,703.3	+0.084%	—	$97.8M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0116%	1h	86,704.2	+0.085%	$192.6M	$927.3M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,711.1	+0.093%	$132.1M	$5.93B	50x	as long as short
BloFin BTC-USDT	+0.0167%	8h	86,696.6	+0.076%	$419.6M	$641.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0181% / S −0.0200%	1h	86,693.4	+0.073%	$15.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	86,754.1	+0.143%	$599K	$7.2M	30x	as long as short