Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h −0.002%

Price spread now: MEXC against Kraken Futures+0.014%7-day average −0.019% · 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−$12as in the Price arb table

costs, in and out, $10k−$150.153% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.014%, 7d avg −0.019%

Together, before fees−0.047%−$5 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 MEXC is 0.033% dearer against Kraken Futures than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XBTUSD	85,490.4	0.0056	pay 0.0007% / 1h	12m 37s	$187.6M	$955.3M	100x
Short	MEXC BTC_USDT	85,502.2	0.0092	get 0.0092% / 8h	2h 12m	$5.02B	$5.75B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Kraken Futures. 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 Kraken FuturesbpFee MEXCbpOrdersPrice spread, now +0.014%Rate

Funding earned: $7.56
Price spread: +0.014% → −0.019%: $3.32
Slippage, 4 orders: −$1.29
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$4.41
Costs to cover: 0.153%
Break-even: 11.1 days

Slippage from Kraken Futures: live order book, 2 min ago; MEXC: 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 Kraken Futures live order book, 2 min ago	0.06 bp	6.0 bp −$6	6.3 bp −$63	7.3 bp −$727	9.3 bp −$4,658
Sell MEXC live order book, 2 min ago	0.08 bp	2.1 bp −$2	2.2 bp −$22	2.6 bp −$255	3.1 bp −$1,535

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	−0.0112%	43m	85,469.3	−0.025%	$525K	$18.3M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,391	−0.116%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,453	−0.044%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0053%	8h	85,486	−0.005%	$928.6M	$767.1M	125x	as long as short
BloFin BTC-USDT	−0.0028%	8h	85,488.1	−0.003%	$419.5M	$683.0M	150x	as long as short
Aster BTCUSDT	−0.0009%	8h	85,499.2	+0.010%	$513.7M	$1.09B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	85,516.5	+0.031%	$355K	$2.4M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,495.5	+0.006%	$16.8M	$21.4M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,506	+0.018%	$36.5M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	85,349	−0.165%	$339K	$26.8M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0042%	1h	85,499.9	+0.011%	$24.8M	$222.4M	50x	as long as short
Kraken Futures PF_XBTUSDlong	+0.0056%	1h	85,490.4	long leg	$187.6M	$955.3M	100x
BingX BTC-USDT	+0.0069%	8h	85,502.4	+0.014%	—	$1.56B	—	as long as short
Phemex BTCUSDT	+0.0075%	8h	85,483.1	−0.009%	$148.1M	$505.9M	150x	as long as short
Bitget BTCUSDT	+0.0086%	8h	85,506.2	+0.018%	$2.95B	$5.17B	150x	as long as short
MEXC BTC_USDTshort	+0.0092%	8h	85,502.2	+0.014%	$5.02B	$5.75B	500x
Binance BTCUSDT	+0.0094%	8h	85,509.5	+0.022%	$9.46B	$24.88B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,513.1	+0.027%	$171.6M	$1.03B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,512.3	+0.026%	$23.7M	$149.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,508	+0.021%	$8.3M	$55.8M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,475.4	−0.018%	$2.4M	$6.7M	20x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,517.7	+0.032%	$117.3M	$5.43B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,479	−0.013%	$238K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,552.2	+0.072%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,581	+0.106%	$3.76B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,529.4	+0.046%	$40.1M	$597.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,500	+0.011%	$5.16B	$9.95B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,515	+0.029%	$2.59B	$12.23B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,511	+0.024%	$3.8M	$17.5M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,506.7	+0.019%	$4.6M	$98.8M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,501.7	+0.013%	$682.6M	$531.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,495.8	+0.006%	$5.50B	$11.05B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,487.8	−0.003%	$36.4M	$176.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,365.9	−0.146%	$154.5M	$559.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,376.5	−0.133%	$279.7M	$951.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,394.8	−0.112%	$214.5M	$167.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,392.6	−0.114%	$139.6M	$314.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,415.7	−0.087%	$30.1M	$208.0M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,567.2	+0.090%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,503	+0.015%	$11.0M	$14.4M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,499.3	+0.010%	$205K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,490.4	0.000%	$2.6M	$9.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,536.3	+0.054%	$228K	$760K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,464.4	−0.030%	$30.0M	$48.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,471	−0.023%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,475	−0.018%	$59.8M	$336.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,467.3	−0.027%	$2.26B	$941.9M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,471.2	−0.022%	$44.4M	$240.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,505	+0.017%	—	$106.9M	500x	as long as short
Reya BTCRUSDPERP	+0.0118%	1h	85,509.7	+0.023%	$6.6M	$147.5M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0173%	1h	85,517.1	+0.031%	$866.9M	$1.61B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,501.3	+0.013%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0198%	8h	85,503	+0.015%	$11.6M	$743.2M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0215%	1h	85,364.7	−0.147%	$79K	$227K	20x	as long as short
Hibachi BTC/USDT-P	+0.0232%	1h	85,468.7	−0.025%	$689K	$8.0M	30x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,527.3	+0.043%	$8.7M	$43.2M	25x	as long as short