Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.009%

Price spread now: ApeX Omni against Gate+0.031%7-day average +0.010% · 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−$24as in the Price arb table

costs, in and out, $10k−$260.256% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 7 days−0.045%−$4 · spread now +0.031%, 7d avg +0.010%

Together, before fees+0.017%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and ApeX Omni is 0.021% dearer against Gate than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BTC_USDT	86,609.9	0.0064	pay 0.0064% / 8h	2h 48m	$5.86B	$10.57B	200x
Short	ApeX Omni BTCUSDT	86,636.4	0.0100	get 0.0013% / 1h	48m 40s	$141.8M	$322.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.031%Rate

Funding earned: $7.56
Price spread: +0.031% → +0.010%: $2.09
Slippage, 4 orders: −$0.59
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$15.94
Costs to cover: 0.256%
Break-even: 21.8 days

Slippage from Gate: live order book, 5 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 Gate live order book, 5 min ago	0.01 bp	7.5 bp −$8	7.5 bp −$75	7.8 bp −$782	11.6 bp −$5,799
Sell ApeX Omni live order book, 1 min ago	0.29 bp	5.3 bp −$5	5.3 bp −$53	11.2 bp −$1,120	39.5 bp −$19.7K

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	86,625	+0.017%	$426K	$25.1M	6.7x	as long as short
Aftermath Perps BTCUSD	−0.0200%	1h	86,707.1	+0.112%	$85K	$188K	20x	as long as short
Phoenix BTC	−0.0103%	1h	86,701	+0.105%	$2.2M	$12.4M	40x	as long as short
dYdX BTC-USD	−0.0094%	1h	86,651.2	+0.048%	$18.0M	$20.0M	50x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,590	−0.023%	$9K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0002%	8h	86,590.8	−0.022%	$844.5M	$709.4M	125x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,606.1	−0.004%	$361K	$2.5M	50x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,629.6	+0.023%	$921.2M	$1.39B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0005%	1h	86,614.5	+0.005%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0012%	8h	86,617.1	+0.008%	$505.7M	$1.16B	200x	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	+0.0020%	8h	86,599.5	−0.012%	—	$15.3M	—	as long as short
Reya BTCRUSDPERP	+0.0021%	1h	86,587.6	−0.026%	$6.7M	$144.0M	40x	as long as short
Phemex BTCUSDT	+0.0024%	8h	86,586.9	−0.027%	$149.5M	$469.6M	150x	as long as short
Bitget BTCUSDT	+0.0026%	8h	86,611	+0.001%	$2.94B	$5.08B	150x	as long as short
MEXC BTC_USDT	+0.0047%	8h	86,600.5	−0.011%	$5.19B	$5.63B	500x	as long as short
Aevo BTC-PERP	+0.0048%	1h	86,594.3	−0.018%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0048%	8h	86,629.9	+0.023%	$9.44B	$24.36B	150x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,732	+0.141%	$315K	$26.8M	52x	as long as short
OKX BTC-USDT-SWAP	+0.0061%	8h	86,647	+0.043%	$2.57B	$12.70B	100x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,600.2	−0.011%	$9.2M	$42.2M	25x	as long as short
Gate BTC_USDTlong	+0.0064%	8h	86,609.9	long leg	$5.86B	$10.57B	200x
Bybit BTCUSDT	+0.0079%	8h	86,635.4	+0.029%	$5.28B	$9.70B	150x	as long as short
Variational Omni BTC	+0.0088%	8h	86,626.8	+0.019%	$159.8M	$564.2M	—	as long as short
Lighter BTC	+0.0096%	1h	86,634.2	+0.028%	$171.9M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,642	+0.037%	$24.0M	$152.8M	50x	as long as short
GRVT BTC_USDT_Perp	+0.0096%	8h	86,635.2	+0.029%	$217.5M	$189.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,578	−0.037%	$8.5M	$52.1M	100x	as long as short
Orderly PERP_BTC_USDC	+0.0099%	8h	86,608.2	−0.002%	$2.4M	$8.4M	100x	as long as short
SoDEX BTC-USD	+0.0099%	1h	86,592	−0.021%	$60.4M	$336.5M	40x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,628	+0.021%	$4.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,579	−0.036%	$200K	$6.8M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,600	−0.011%	$21.8M	$237.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,672	+0.072%	$3.83B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,657.2	+0.055%	$41.0M	$485.8M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,630	+0.023%	$3.9M	$18.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,667.5	+0.067%	$7.4M	$95.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,665	+0.064%	$572.2M	$23.5M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,592.9	−0.020%	$38.2M	$148.1M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,704.2	+0.109%	$280.1M	$946.6M	100x	as long as short
ApeX Omni BTCUSDTshort	+0.0100%	1h	86,636.4	+0.031%	$141.8M	$322.7M	100x
StandX BTC-USD	+0.0100%	1h	86,664	+0.062%	$30.8M	$205.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,656.9	+0.054%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,588	−0.025%	$11.0M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,587.2	−0.026%	$198K	$3.4M	20x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,611	+0.001%	$140K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,596	−0.016%	$30.0M	$61.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,576.6	−0.038%	$3.4M	$5.6M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,578.8	−0.036%	$2.30B	$956.7M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,592.4	−0.020%	$46.5M	$229.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,613.5	+0.004%	—	$98.1M	500x	as long as short
Kalshi KXBTCPERP	+0.0106%	8h	86,635	+0.029%	$8.8M	$724.4M	6.4x	as long as short
Kraken Futures PF_XBTUSD	+0.0117%	1h	86,632.7	+0.026%	$192.1M	$926.7M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,642.1	+0.037%	$131.9M	$5.91B	50x	as long as short
BloFin BTC-USDT	+0.0168%	8h	86,592.1	−0.021%	$418.0M	$642.6M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0181% / S −0.0198%	1h	86,609.5	0.000%	$15.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0208%	1h	86,672.4	+0.072%	$598K	$7.2M	30x	as long as short