Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.001%

Price spread now: Aevo against MEXC+0.001%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on MEXC Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now +0.001%, 7d avg −0.013%

Together, before fees−0.050%−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BTC_USDT	85,518.8	0.0089	pay 0.0089% / 8h	4h 47m	$5.04B	$5.58B	500x
Short	Aevo BTC-PERP	85,519.5	0.0088	get 0.0011% / 1h	47m 43s	$2.5M	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against MEXC. 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 MEXCbpFee AevobpOrdersPrice spread, now +0.001%Rate

Funding earned: −$0.21
Price spread: +0.001% → −0.013%: $1.41
Slippage, 4 orders: −$7.69
Fee MEXC: 2 bp × 2 orders: −$4
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$26.49
Costs to cover: 0.277%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Aevo: 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 MEXC live order book, 1 min ago	0.01 bp	2.0 bp −$2	2.0 bp −$20	2.0 bp −$204	2.4 bp −$1,209
Sell Aevo live order book, 1 min ago	2.99 bp	11.0 bp −$11	12.3 bp −$123	doesn't fit	doesn't fit

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
Bluefin BTC-PERP	−0.1202%	1h	85,559.5	+0.048%	$194K	$725K	40x	as long as short
Phoenix BTC	−0.0179%	1h	85,568	+0.058%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,576	+0.067%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,531.7	+0.015%	$368K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0030%	8h	85,528.7	+0.012%	$417.9M	$665.3M	150x	as long as short
KuCoin XBTUSDTM	−0.0003%	8h	85,504.8	−0.016%	$918.2M	$749.4M	125x	as long as short
dYdX BTC-USD	0.0000%	1h	85,559.9	+0.048%	$16.7M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,536.9	+0.021%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0014%	8h	85,505.7	−0.015%	$515.3M	$1.10B	200x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,531.1	+0.014%	$6.9M	$97.2M	40x	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	+0.0056%	1h	85,533.9	+0.018%	$22.5M	$218.7M	50x	as long as short
BingX BTC-USDC	+0.0058%	8h	85,497.1	−0.025%	—	$17.1M	—	as long as short
Bitget BTCUSDT	+0.0075%	8h	85,511.7	−0.008%	$2.96B	$5.01B	150x	as long as short
Reya BTCRUSDPERP	+0.0077%	1h	85,521.4	+0.003%	$6.7M	$146.6M	40x	as long as short
Aevo BTC-PERPshort	+0.0088%	1h	85,519.5	+0.001%	$2.5M	$1.7M	20x
MEXC BTC_USDTlong	+0.0089%	8h	85,518.8	long leg	$5.04B	$5.58B	500x
Binance BTCUSDT	+0.0089%	8h	85,528.6	+0.011%	$9.33B	$23.98B	150x	as long as short
SoDEX BTC-USD	+0.0092%	1h	85,514	−0.006%	$59.9M	$336.1M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,522.6	+0.004%	$173.7M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,531.3	+0.015%	$23.8M	$148.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,546	+0.032%	$8.4M	$52.6M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,571.6	+0.062%	$3.9M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,524	+0.006%	$232K	$7.9M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,588	+0.081%	$3.74B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,558.7	+0.047%	$40.1M	$575.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,542.2	+0.027%	$5.32B	$9.58B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,548.1	+0.034%	$2.57B	$12.09B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,529	+0.012%	$3.9M	$17.9M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,696.6	+0.208%	$648.3M	$574.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,516.4	−0.003%	$5.53B	$10.55B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,507.1	−0.014%	$35.8M	$175.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,584.4	+0.077%	$156.6M	$560.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,637.5	+0.139%	$279.7M	$917.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,650.2	+0.154%	$214.9M	$165.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,590.3	+0.084%	$139.9M	$314.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,595.3	+0.089%	$30.2M	$207.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,591.3	+0.085%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,525	+0.007%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,529	+0.012%	$194K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,513.6	−0.006%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,517.8	−0.001%	$30.0M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,514.1	−0.005%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,514.1	−0.005%	$2.26B	$939.2M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,514.9	−0.005%	$151.0M	$482.9M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,496.9	−0.026%	$44.5M	$226.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,530.8	+0.014%	—	$106.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,547.9	+0.034%	$117.5M	$5.15B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,497	−0.025%	$339K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,539.4	+0.024%	$188.4M	$952.7M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0173%	1h	85,564.9	+0.054%	$893.4M	$1.53B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,535.8	+0.020%	$13.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	85,584	+0.076%	$694K	$7.9M	30x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,574.5	+0.065%	$8.4M	$42.4M	25x	as long as short
Aftermath Perps BTCUSD	+0.0203%	1h	85,630.6	+0.131%	$78K	$219K	20x	as long as short
Kalshi KXBTCPERP	+0.0218%	8h	85,555	+0.042%	$10.5M	$758.8M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,542.5	+0.028%	$494K	$18.9M	6.7x	as long as short