Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0058%/8h= −6.3% APRpaid last 24h +0.007%

Price spread now: RISEx against MEXC0.000%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$110.111% of the position

Long on MEXC Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days+0.026%+$3 · spread now 0.000%, 7d avg +0.009%

Together, before fees+0.033%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BTC_USDT	86,470	0.0064	pay 0.0064% / 8h	1h 18m	$5.14B	$5.69B	500x
Short	RISEx BTC/USDC	86,469.7	0.0006	get 0.0001% / 1h	18m 29s	$8.5M	$43.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$12.14
Price spread: 0.000% → +0.009%: −$0.91
Slippage, 4 orders: −$1.05
Fee MEXC: 2 bp × 2 orders: −$4
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$24.1
Costs to cover: 0.111%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; RISEx: live order book, 6 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, 6 min ago	0.01 bp	2.0 bp −$2	2.1 bp −$21	2.1 bp −$212	2.4 bp −$1,204
Sell RISEx live order book, 6 min ago	0.01 bp	3.0 bp −$3	3.0 bp −$30	12.6 bp −$1,256	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	−0.0860%	1h	86,490.3	+0.023%	$140K	$620K	40x	as long as short
Phoenix BTC	−0.0159%	1h	86,503	+0.038%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,470	0.000%	$9K	$3K	50x	as long as short
Aster BTCUSDT	−0.0010%	8h	86,464.8	−0.006%	$504.2M	$1.15B	200x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,469.7	0.000%	$358K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,476.2	+0.007%	$424K	$23.7M	6.7x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,464.2	−0.007%	$851.3M	$711.6M	125x	as long as short
dYdX BTC-USD	+0.0004%	1h	86,497.2	+0.031%	$17.0M	$21.1M	50x	as long as short
Aftermath Perps BTCUSD	+0.0005%	1h	86,525.7	+0.064%	$82K	$217K	20x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,496.8	+0.031%	$36.8M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDCshort	+0.0006%	1h	86,469.7	0.000%	$8.5M	$43.0M	25x
Deribit BTC-PERPETUAL	+0.0014%	1h	86,501.4	+0.036%	$920.9M	$1.48B	50x	as long as short
Reya BTCRUSDPERP	+0.0023%	1h	86,460.3	−0.011%	$6.7M	$145.0M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	+0.103%	$315K	$26.8M	52x	as long as short
Phemex BTCUSDT	+0.0034%	8h	86,466	−0.005%	$149.8M	$476.9M	150x	as long as short
BingX BTC-USDT	+0.0035%	8h	86,463.6	−0.007%	—	$1.59B	—	as long as short
Bitget BTCUSDT	+0.0046%	8h	86,468.4	−0.002%	$2.95B	$5.10B	150x	as long as short
MEXC BTC_USDTlong	+0.0064%	8h	86,470	long leg	$5.14B	$5.69B	500x
Aevo BTC-PERP	+0.0064%	1h	86,468	−0.002%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0064%	8h	86,468	−0.002%	$9.43B	$24.41B	150x	as long as short
Gate BTC_USDT	+0.0079%	8h	86,473.4	+0.004%	$5.85B	$10.73B	200x	as long as short
Bybit BTCUSDT	+0.0092%	8h	86,469.9	0.000%	$5.25B	$9.77B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,479.8	+0.011%	$170.6M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,489.8	+0.023%	$24.1M	$152.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,462	−0.009%	$8.5M	$52.4M	100x	as long as short
Hibachi BTC/USDT-P	+0.0096%	1h	86,517.3	+0.055%	$717K	$8.2M	30x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,446	−0.028%	$205K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,521.4	+0.059%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,457.6	−0.014%	$22.0M	$234.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,537	+0.077%	$3.80B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,509.1	+0.045%	$40.8M	$513.8M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,472.6	+0.003%	$2.54B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,480	+0.012%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,534.4	+0.074%	$7.4M	$94.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,498.7	+0.033%	$571.7M	$18.6M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,463.1	−0.008%	$37.8M	$155.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,498.8	+0.033%	$156.2M	$568.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,531.2	+0.071%	$279.7M	$948.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,518.2	+0.056%	$217.2M	$175.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,540.1	+0.081%	$141.5M	$323.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,483	+0.015%	$30.7M	$203.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,514.2	+0.051%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,462	−0.009%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,482	+0.014%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,473.6	+0.004%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,466.1	−0.004%	$30.3M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,463.2	−0.008%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,467	−0.003%	$60.4M	$337.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,466.8	−0.004%	$2.30B	$968.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,460.8	−0.011%	$45.5M	$226.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,478.7	+0.010%	—	$98.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,505	+0.040%	$131.8M	$5.70B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,489.3	+0.022%	$191.3M	$943.7M	100x	as long as short
BloFin BTC-USDT	+0.0184%	8h	86,473.9	+0.005%	$414.0M	$654.4M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0185% / S −0.0211%	1h	86,490.7	+0.024%	$15.2M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0198%	8h	86,500	+0.035%	$9.7M	$733.9M	6.4x	as long as short