Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: ApeX Omni against OKX−0.111%70s7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.224% of the position

Long on OKX 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+0.103%+$10 · spread now −0.111%, 7d avg +0.007%

Together, before fees+0.125%+$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.118% cheaper against OKX than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.007%. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BTC-USDT-SWAP	86,537.9	0.0100	pay 0.0100% / 8h	52m 25s	$2.55B	$12.74B	100x
Short	ApeX Omni BTCUSDT	86,442	0.0100	get 0.0013% / 1h	52m 25s	$141.3M	$323.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.111%Rate

Funding earned: $0
Price spread: −0.111% → +0.007%: −$11.8
Slippage, 4 orders: −$2.45
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$34.25
Costs to cover: 0.224%
Break-even: never at this rate

Slippage from OKX: 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 OKX live order book, 2 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.4 bp −$542	6.7 bp −$3,329
Sell ApeX Omni live order book, 2 min ago	1.22 bp	6.2 bp −$6	6.3 bp −$63	11.2 bp −$1,119	38.3 bp −$19.2K

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
Phoenix BTC	−0.0118%	1h	86,543	+0.006%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,521	−0.020%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,601	+0.073%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,554.7	+0.019%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,562.9	+0.029%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0004%	8h	86,554.3	+0.019%	$503.9M	$1.15B	200x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,578	+0.046%	$916.8M	$1.49B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,562.4	+0.028%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0009%	8h	86,550.8	+0.015%	$850.6M	$713.9M	125x	as long as short
Reya BTCRUSDPERP	+0.0024%	1h	86,550.1	+0.014%	$6.7M	$145.3M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0041%	8h	86,542	+0.005%	—	$1.59B	—	as long as short
dYdX BTC-USD	+0.0044%	1h	86,591.4	+0.062%	$17.0M	$21.1M	50x	as long as short
Phemex BTCUSDT	+0.0044%	8h	86,574.7	+0.043%	$149.8M	$478.4M	150x	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,543.8	+0.007%	$2.96B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0071%	8h	86,550.7	+0.015%	$5.13B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0072%	8h	86,549	+0.013%	$9.43B	$24.53B	150x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,537.6	0.000%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0081%	8h	86,551.6	+0.016%	$5.88B	$10.71B	200x	as long as short
Aftermath Perps BTCUSD	+0.0094%	1h	86,520.9	−0.020%	$79K	$220K	20x	as long as short
Lighter BTC	+0.0096%	1h	86,545.5	+0.009%	$170.3M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,573.7	+0.041%	$24.1M	$151.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,550	+0.014%	$8.5M	$52.5M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,541	+0.004%	$5.26B	$9.81B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,525	−0.015%	$199K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,575.6	+0.044%	$4.8M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,550.1	+0.014%	$21.8M	$234.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,626	+0.102%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,572.1	+0.039%	$41.2M	$521.5M	50x	as long as short
OKX BTC-USDT-SWAPlong	+0.0100%	8h	86,537.9	long leg	$2.55B	$12.74B	100x
Ondo Perps BTC-USD.P	+0.0100%	1h	86,556	+0.021%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,583.4	+0.053%	$7.6M	$94.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,382.9	−0.179%	$571.1M	$18.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,575.6	+0.044%	$37.8M	$154.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,463.3	−0.086%	$155.7M	$568.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,512.3	−0.030%	$279.6M	$945.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,538.5	+0.001%	$217.2M	$173.5M	50x	as long as short
ApeX Omni BTCUSDTshort	+0.0100%	1h	86,442	−0.111%	$141.3M	$323.3M	100x
StandX BTC-USD	+0.0100%	1h	86,570.1	+0.037%	$30.7M	$204.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,602.7	+0.075%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,554	+0.019%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,553	+0.017%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,541.5	+0.004%	$2.4M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,572.8	+0.040%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,577.2	+0.045%	$30.6M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,541.5	+0.004%	$3.4M	$5.4M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,543	+0.006%	$60.5M	$337.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,550	+0.014%	$2.30B	$969.4M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,520.7	−0.020%	$45.3M	$226.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,571.2	+0.039%	—	$99.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,578.5	+0.047%	$191.9M	$949.4M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,569.4	+0.036%	$417K	$23.4M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,618.7	+0.093%	$132.8M	$5.69B	50x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	86,561.3	+0.027%	$718K	$8.1M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0190% / S −0.0213%	1h	86,566.7	+0.033%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0191%	8h	86,574.8	+0.043%	$414.3M	$658.4M	150x	as long as short
Kalshi KXBTCPERP	+0.0204%	8h	86,581	+0.050%	$9.8M	$739.4M	6.4x	as long as short