Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.023%

Price spread now: 01 Exchange against MEXC−0.018%7-day average −0.003% · 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−$19as in the Price arb table

costs, in and out, $10k−$170.172% of the position

Long on MEXC Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.076%−$8 on $10k

Price spread, last 7 days+0.039%+$4 · spread now −0.018%, 7d avg −0.003%

Together, before fees−0.037%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.003%, 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	86,795	0.0055	pay 0.0055% / 8h	2h 24m	$5.19B	$5.69B	500x
Short	01 Exchange BTCUSD	86,779.3	0	get 0.0000% / 1h	24m 57s	$364K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.018%Rate

Funding earned: −$11.55
Price spread: −0.018% → −0.003%: −$1.51
Slippage, 4 orders: −$6.24
Fee MEXC: 2 bp × 2 orders: −$4
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$30.3
Costs to cover: 0.172%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; 01 Exchange: live order book, 4 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, 4 min ago	0.01 bp	2.1 bp −$2	2.2 bp −$22	2.2 bp −$224	2.7 bp −$1,355
Sell 01 Exchange live order book, 4 min ago	0.01 bp	3.8 bp −$4	9.5 bp −$95	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
Aftermath Perps BTCUSD	−0.0236%	1h	86,676.1	−0.137%	$85K	$188K	20x	as long as short
Perpl BTC	−0.0223%	43m	86,781	−0.016%	$431K	$24.8M	6.7x	as long as short
Phoenix BTC	−0.0103%	1h	86,583	−0.244%	$2.2M	$12.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,653	−0.164%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0073%	1h	86,784.5	−0.012%	$17.6M	$20.6M	50x	as long as short
01 Exchange BTCUSDshort	0.0000%	1h	86,779.3	−0.018%	$364K	$2.4M	50x
Deribit BTC-PERPETUAL	0.0000%	1h	86,784.5	−0.012%	$935.1M	$1.45B	50x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,768.2	−0.031%	$849.2M	$706.1M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,774.4	−0.024%	$36.9M	—	200x	as long as short
Aster BTCUSDT	+0.0009%	8h	86,784.3	−0.012%	$506.9M	$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
Reya BTCRUSDPERP	+0.0021%	1h	86,751.1	−0.051%	$6.7M	$144.4M	40x	as long as short
Phemex BTCUSDT	+0.0023%	8h	86,754	−0.047%	$150.3M	$471.5M	150x	as long as short
BingX BTC-USDT	+0.0025%	8h	86,798.4	+0.004%	—	$1.60B	—	as long as short
Bitget BTCUSDT	+0.0033%	8h	86,803.1	+0.009%	$2.96B	$5.08B	150x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,639	−0.180%	$315K	$26.8M	52x	as long as short
MEXC BTC_USDTlong	+0.0055%	8h	86,795	long leg	$5.19B	$5.69B	500x
Aevo BTC-PERP	+0.0056%	1h	86,752.4	−0.049%	$2.4M	$1.3M	20x	as long as short
Binance BTCUSDT	+0.0057%	8h	86,795.1	0.000%	$9.45B	$24.33B	150x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,762.7	−0.037%	$9.2M	$42.0M	25x	as long as short
Gate BTC_USDT	+0.0079%	8h	86,796.8	+0.002%	$5.86B	$10.65B	200x	as long as short
OKX BTC-USDT-SWAP	+0.0079%	8h	86,810.2	+0.018%	$2.56B	$12.75B	100x	as long as short
Bybit BTCUSDT	+0.0083%	8h	86,800	+0.006%	$5.28B	$9.69B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,768.1	−0.031%	$171.9M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,770.5	−0.028%	$24.0M	$153.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,752	−0.050%	$8.5M	$52.3M	100x	as long as short
Variational Omni BTC	+0.0097%	8h	86,726.9	−0.078%	$159.3M	$566.6M	—	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,741	−0.062%	$194K	$6.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,795.9	+0.001%	$4.8M	$8.2M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,742	−0.061%	$21.8M	$235.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,832	+0.043%	$3.82B	$5.13B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,776.9	−0.021%	$41.0M	$492.6M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,755	−0.046%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,819.4	+0.028%	$7.8M	$94.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,577.9	−0.250%	$571.8M	$22.4M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,766.3	−0.033%	$38.2M	$148.4M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,653.8	−0.163%	$280.0M	$950.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,676.9	−0.136%	$217.6M	$187.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,687.3	−0.124%	$141.5M	$322.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,729.7	−0.075%	$30.8M	$205.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,801.6	+0.008%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,754	−0.047%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,754	−0.047%	$198K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,773.3	−0.025%	$2.5M	$8.5M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,780.3	−0.017%	$141K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,763.3	−0.037%	$30.0M	$61.8M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,753.1	−0.048%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,751	−0.051%	$60.6M	$336.4M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,750	−0.052%	$2.30B	$958.3M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,786.1	−0.010%	$46.3M	$228.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,775	−0.023%	—	$98.6M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0116%	1h	86,791.2	−0.004%	$188.4M	$932.5M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,804.3	+0.011%	$132.1M	$5.87B	50x	as long as short
Kalshi KXBTCPERP	+0.0133%	8h	86,788	−0.008%	$9.6M	$726.0M	6.4x	as long as short
BloFin BTC-USDT	+0.0177%	8h	86,751.2	−0.050%	$417.2M	$654.5M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0179% / S −0.0201%	1h	86,770.5	−0.028%	$14.7M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	86,778.9	−0.019%	$617K	$7.1M	30x	as long as short