Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: ApeX Omni against Polymarket Perps+0.092%63s7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as 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−$190.186% of the position

Long on Polymarket Perps Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 7 days−0.102%−$10 · spread now +0.092%, 7d avg +0.019%

Together, before fees−0.141%−$14 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 0.073% dearer against Polymarket Perps than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.019%. The two prices were read 63 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	Polymarket Perps BTC-USD	86,607	0.0100	pay 0.0013% / 1h	32m 04s	$11.1M	$13.7M	50x
Short	ApeX Omni BTCUSDT	86,686.6	0.0100	get 0.0013% / 1h	32m 04s	$141.7M	$322.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Polymarket Perps. 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 Polymarket PerpsbpFee ApeX OmnibpOrdersPrice spread, now +0.092%Rate

Funding earned: $0
Price spread: +0.092% → +0.019%: $7.33
Slippage, 4 orders: −$0.62
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$11.29
Costs to cover: 0.186%
Break-even: never at this rate

Slippage from Polymarket Perps: 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 Polymarket Perps live order book, 2 min ago	0.06 bp	4.1 bp −$4	5.6 bp −$56	8.5 bp −$848	doesn't fit
Sell ApeX Omni live order book, 2 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	10.1 bp −$1,005	39.8 bp −$19.9K

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	−0.0231%	1h	86,605.4	−0.002%	$85K	$188K	20x	as long as short
Perpl BTC	−0.0223%	43m	86,642.5	+0.041%	$428K	$24.9M	6.7x	as long as short
Phoenix BTC	−0.0103%	1h	86,539	−0.079%	$2.2M	$12.4M	40x	as long as short
dYdX BTC-USD	−0.0082%	1h	86,671.7	+0.075%	$17.6M	$20.5M	50x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,605	−0.002%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,631.7	+0.029%	$363K	$2.4M	50x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,617.7	+0.012%	$935.3M	$1.44B	50x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,583.9	−0.027%	$843.9M	$704.8M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,627.1	+0.023%	$37.0M	—	200x	as long as short
Aster BTCUSDT	+0.0009%	8h	86,572.8	−0.040%	$505.5M	$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	86,600.1	−0.008%	$6.7M	$144.3M	40x	as long as short
BingX BTC-USDT	+0.0022%	8h	86,580.6	−0.030%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0024%	8h	86,580.2	−0.031%	$149.6M	$471.4M	150x	as long as short
Bitget BTCUSDT	+0.0030%	8h	86,578.6	−0.033%	$2.94B	$5.07B	150x	as long as short
Aevo BTC-PERP	+0.0048%	1h	86,588.3	−0.022%	$2.4M	$1.3M	20x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,639	+0.037%	$315K	$26.8M	52x	as long as short
MEXC BTC_USDT	+0.0052%	8h	86,580.3	−0.031%	$5.19B	$5.67B	500x	as long as short
Binance BTCUSDT	+0.0053%	8h	86,579.1	−0.032%	$9.43B	$24.31B	150x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,614.2	+0.008%	$9.2M	$42.0M	25x	as long as short
OKX BTC-USDT-SWAP	+0.0072%	8h	86,576.8	−0.035%	$2.56B	$12.69B	100x	as long as short
Gate BTC_USDT	+0.0074%	8h	86,584.5	−0.026%	$5.85B	$10.63B	200x	as long as short
Bybit BTCUSDT	+0.0082%	8h	86,570.1	−0.043%	$5.27B	$9.67B	150x	as long as short
Variational Omni BTC	+0.0092%	8h	86,584.3	−0.026%	$160.0M	$567.1M	—	as long as short
Lighter BTC	+0.0096%	1h	86,598.2	−0.010%	$172.0M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,599.3	−0.009%	$24.0M	$153.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,605	−0.002%	$8.5M	$52.2M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,597	−0.012%	$194K	$6.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,668.9	+0.071%	$4.8M	$8.2M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,614.2	+0.008%	$21.7M	$235.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,655.4	+0.056%	$3.82B	$5.12B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,646.1	+0.045%	$41.3M	$490.3M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,614	+0.008%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,676.4	+0.080%	$7.5M	$93.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,606.9	0.000%	$571.9M	$22.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,583.6	−0.027%	$38.1M	$148.4M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,587.1	−0.023%	$279.7M	$950.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,619.4	+0.014%	$217.4M	$187.8M	50x	as long as short
ApeX Omni BTCUSDTshort	+0.0100%	1h	86,686.6	+0.092%	$141.7M	$322.9M	100x
StandX BTC-USD	+0.0100%	1h	86,614.3	+0.008%	$30.8M	$205.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,667.4	+0.070%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USDlong	+0.0100%	1h	86,607	long leg	$11.1M	$13.7M	50x
Bullet BTC-USD	+0.0100%	1h	86,608.2	+0.001%	$195K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,602.8	−0.005%	$2.5M	$8.5M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,614.4	+0.009%	$140K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,593.5	−0.016%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,612.9	+0.007%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,585	−0.025%	$60.4M	$336.4M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,609	+0.002%	$2.30B	$957.3M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,570.9	−0.042%	$46.4M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,625.9	+0.022%	—	$98.4M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0117%	1h	86,613.3	+0.007%	$188.9M	$930.9M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,628	+0.024%	$131.9M	$5.86B	50x	as long as short
Kalshi KXBTCPERP	+0.0124%	8h	86,637	+0.035%	$8.8M	$723.5M	6.4x	as long as short
BloFin BTC-USDT	+0.0173%	8h	86,611.4	+0.005%	$416.8M	$652.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0178% / S −0.0185%	1h	86,619.3	+0.014%	$14.9M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	86,661.5	+0.063%	$614K	$7.1M	30x	as long as short