Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h −0.011%

Price spread now: ApeX Omni against Paradex−0.087%7-day average 0.000% · 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−$24as in the Price arb table

costs, in and out, $10k−$160.158% of the position

Long on Paradex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.020%−$2 on $10k

Price spread, last 7 days+0.084%+$8 · spread now −0.087%, 7d avg 0.000%

Together, before fees+0.065%+ Points / potential airdropParadex: Active · farm board+$6 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 0.086% cheaper against Paradex than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex BTC-USD-PERP	85,650.5	0.0099	pay 0.0099% / 8h	5h 35m	$3.8M	$8.3M	50x
Short	ApeX Omni BTCUSDT	85,576.1	0.0100	get 0.0013% / 1h	35m 34s	$140.0M	$316.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Paradex. 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 ParadexbpFee ApeX OmnibpOrdersPrice spread, now −0.087%Rate

Funding earned: $0.11
Price spread: −0.087% → 0.000%: −$8.64
Slippage, 4 orders: −$1.79
Fee Paradex: 2 bp × 2 orders: −$4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$24.31
Costs to cover: 0.158%
Break-even: 1499.7 days

Slippage from Paradex: live order book, 4 min ago; ApeX Omni: 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 Paradex live order book, 4 min ago	0.68 bp	2.7 bp −$3	2.7 bp −$27	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 4 min ago	0.21 bp	5.2 bp −$5	5.2 bp −$52	18.6 bp −$1,864	42.8 bp −$21.4K

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	−0.0160%	1h	85,585	−0.076%	$2.2M	$10.3M	40x	as long as short
Bluefin BTC-PERP	−0.0097%	1h	85,672.1	+0.025%	$196K	$722K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,627	−0.027%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,612.4	−0.044%	$370K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0034%	8h	85,617.3	−0.039%	$415.9M	$663.5M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,640.3	−0.012%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,641.9	−0.010%	$36.7M	—	200x	as long as short
Nado BTC-PERP	+0.0010%	1h	85,615.1	−0.041%	$22.9M	$221.3M	50x	as long as short
KuCoin XBTUSDTM	+0.0011%	8h	85,593.4	−0.067%	$916.9M	$753.1M	125x	as long as short
Aster BTCUSDT	+0.0018%	8h	85,605.4	−0.053%	$515.8M	$1.11B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0054%	8h	85,607.5	−0.050%	—	$17.0M	—	as long as short
HTX BTC-USDT	+0.0064%	8h	85,622.5	−0.033%	$2.27B	$933.6M	200x	as long as short
Reya BTCRUSDPERP	+0.0068%	1h	85,641.3	−0.011%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,637	−0.016%	$2.95B	$5.02B	150x	as long as short
Phemex BTCUSDT	+0.0070%	8h	85,639.4	−0.013%	$148.3M	$478.9M	150x	as long as short
SunX BTC-USDT	+0.0078%	8h	85,607.4	−0.050%	$2.9M	$6.1M	100x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,578	−0.085%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,625.6	−0.029%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0085%	8h	85,607.7	−0.050%	$5.05B	$5.61B	500x	as long as short
Binance BTCUSDT	+0.0086%	8h	85,615.2	−0.041%	$9.35B	$23.89B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0088%	1h	85,676.6	+0.031%	$893.1M	$1.52B	50x	as long as short
Lighter BTC	+0.0096%	1h	85,607.5	−0.050%	$169.9M	$988.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,616.6	−0.040%	$23.9M	$148.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,616	−0.040%	$8.4M	$51.9M	100x	as long as short
Paradex BTC-USD-PERPlong	+0.0099%	8h	85,650.5	long leg	$3.8M	$8.3M	50x
Katana Perps BTC-USD	+0.0100%	8h	85,587	−0.074%	$197K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,674	+0.027%	$3.77B	$4.94B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,636.9	−0.016%	$40.5M	$573.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,637.8	−0.015%	$5.33B	$9.58B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,645	−0.006%	$2.57B	$12.11B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,618	−0.038%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,578.8	−0.084%	$7.2M	$97.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,616.7	−0.039%	$5.55B	$10.48B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,623.8	−0.031%	$35.3M	$172.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,622.5	−0.033%	$155.0M	$548.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,510.3	−0.164%	$279.0M	$929.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,588.5	−0.072%	$214.9M	$165.6M	50x	as long as short
ApeX Omni BTCUSDTshort	+0.0100%	1h	85,576.1	−0.087%	$140.0M	$316.2M	100x
StandX BTC-USD	+0.0100%	1h	85,601.4	−0.057%	$30.3M	$210.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,682.9	+0.038%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,638	−0.015%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,621	−0.034%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,627.3	−0.027%	$2.3M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,626.4	−0.028%	$30.0M	$52.6M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,635	−0.018%	$60.0M	$336.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,614.4	−0.042%	$621.3M	$398.6M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,584.7	−0.077%	$44.0M	$227.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,617.6	−0.038%	—	$105.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,674	+0.027%	$130.9M	$5.10B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,638.7	−0.014%	$8.4M	$42.2M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,665.4	+0.017%	$188.6M	$948.7M	100x	as long as short
Aftermath Perps BTCUSD	+0.0190%	1h	85,588.2	−0.073%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,605.5	−0.052%	$700K	$7.9M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0180%	1h	85,633.3	−0.020%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0214%	8h	85,639	−0.013%	$10.5M	$760.3M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,666.2	+0.018%	$521K	$19.4M	6.7x	as long as short