Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0030%/8h= −3.2% APRpaid last 24h +0.007%

Price spread now: ApeX Omni against GRVT+0.048%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$200.205% of the position

Long on GRVT 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−0.056%−$6 · spread now +0.048%, 7d avg +0.006%

Together, before fees−0.033%+ Points / potential airdropGRVT: Active · farm board−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.042% dearer against GRVT than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of +0.006%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BTC_USDT_Perp	85,711.6	0.0100	pay 0.0100% / 8h	6h 27m	$215.2M	$165.9M	50x
Short	ApeX Omni BTCUSDT	85,752.5	0.0070	get 0.0009% / 1h	27m 17s	$140.2M	$319.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against GRVT. 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 GRVTbpFee ApeX OmnibpOrdersPrice spread, now +0.048%Rate

Funding earned: −$6.2
Price spread: +0.048% → +0.006%: $4.21
Slippage, 4 orders: −$1.49
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$22.49
Costs to cover: 0.205%
Break-even: never at this rate

Slippage from GRVT: live order book, 2 min ago; ApeX Omni: live order book, 2 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 GRVT live order book, 2 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	4.8 bp −$479	8.6 bp −$4,286
Sell ApeX Omni live order book, 2 min ago	0.74 bp	5.7 bp −$6	5.7 bp −$57	13.3 bp −$1,327	40.5 bp −$20.2K

BTC on 55 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	−0.0144%	1h	85,735	+0.027%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,780	+0.080%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,738.5	+0.031%	$364K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,792.2	+0.094%	$514K	$20.7M	6.7x	as long as short
dYdX BTC-USD	+0.0003%	1h	85,751.5	+0.047%	$16.8M	$20.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,754.9	+0.051%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	−0.024%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0033%	8h	85,745.8	+0.040%	$903.6M	$754.9M	125x	as long as short
Aster BTCUSDT	+0.0035%	8h	85,736.7	+0.029%	$509.6M	$1.14B	200x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,774.5	+0.073%	$8.2M	$42.1M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0054%	8h	85,738.9	+0.032%	—	$16.2M	—	as long as short
Reya BTCRUSDPERP	+0.0057%	1h	85,744.4	+0.038%	$6.7M	$146.2M	40x	as long as short
Nado BTC-PERP	+0.0059%	1h	85,764.9	+0.062%	$22.6M	$228.5M	50x	as long as short
HTX BTC-USDT	+0.0064%	8h	85,731	+0.023%	$2.27B	$947.9M	200x	as long as short
Bitget BTCUSDT	+0.0070%	8h	85,730.1	+0.022%	$2.94B	$5.09B	150x	as long as short
ApeX Omni BTCUSDTshort	+0.0070%	1h	85,752.5	+0.048%	$140.2M	$319.5M	100x
Aevo BTC-PERP	+0.0088%	1h	85,732	+0.024%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0089%	8h	85,751	+0.046%	$5.07B	$5.72B	500x	as long as short
Binance BTCUSDT	+0.0090%	8h	85,729.9	+0.021%	$9.34B	$24.37B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,737.6	+0.030%	$170.3M	$989.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,737.4	+0.030%	$23.6M	$146.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,751	+0.046%	$8.4M	$51.9M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,725	+0.016%	$204K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,723.8	+0.014%	$3.8M	$8.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,818	+0.124%	$3.77B	$5.01B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,792.6	+0.095%	$40.3M	$571.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,746.7	+0.041%	$5.30B	$9.73B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,743.7	+0.037%	$2.54B	$12.37B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,770	+0.068%	$3.9M	$18.2M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,730.2	+0.022%	$7.3M	$98.2M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,761	+0.058%	$5.62B	$10.53B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,762.2	+0.059%	$35.4M	$164.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,640.3	−0.083%	$156.2M	$559.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,721	+0.011%	$278.7M	$938.7M	100x	as long as short
GRVT BTC_USDT_Perplong	+0.0100%	8h	85,711.6	long leg	$215.2M	$165.9M	50x
StandX BTC-USD	+0.0100%	1h	85,731.4	+0.023%	$30.3M	$208.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,803.6	+0.107%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,749	+0.044%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,752	+0.047%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,740.6	+0.034%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,766.7	+0.064%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,740.2	+0.033%	$30.0M	$56.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,726.4	+0.017%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,736	+0.028%	$60.0M	$337.4M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,730.6	+0.022%	$153.6M	$480.4M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,587.5	−0.145%	$583.6M	$150.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,715.2	+0.004%	$44.0M	$228.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,778.2	+0.078%	—	$101.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,765.4	+0.063%	$131.1M	$5.16B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,775.8	+0.075%	$696K	$7.9M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,748.7	+0.043%	$188.8M	$964.9M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0164%	1h	85,773.6	+0.072%	$894.5M	$1.53B	50x	as long as short
Aftermath Perps BTCUSD	+0.0165%	1h	85,708.8	−0.003%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0192%	1h	85,758.7	+0.055%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0210%	8h	85,777	+0.076%	$10.1M	$770.1M	6.4x	as long as short