Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.030%

Price spread now: MEXC against 01 Exchange−0.009%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−$15as in the Price arb table

costs, in and out, $10k−$130.135% of the position

Long on 01 Exchange Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.086%+$9 on $10k

Price spread, last 7 days+0.008%+$1 · spread now −0.009%, 7d avg +0.003%

Together, before fees+0.094%+$9 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: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,341.2	−0.0008	get 0.0001% / 1h	19m 34s	$354K	$2.4M	50x
Short	MEXC BTC_USDT	85,333.2	0.0086	get 0.0086% / 8h	2h 19m	$5.04B	$5.73B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against 01 Exchange. 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 01 ExchangebpFee MEXCbpOrdersPrice spread, now −0.009%Rate

Funding earned: $19.74
Price spread: −0.009% → +0.003%: −$1.27
Slippage, 4 orders: −$2.48
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee MEXC: 2 bp × 2 orders: −$4
Net: $4.98
Costs to cover: 0.135%
Break-even: 5.2 days

Slippage from 01 Exchange: live order book, 5 min ago; MEXC: live order book, 5 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 01 Exchange live order book, 5 min ago	0.01 bp	5.6 bp −$6	10.1 bp −$101	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.01 bp	2.0 bp −$2	2.1 bp −$21	2.1 bp −$213	2.3 bp −$1,172

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
Perpl BTC	−0.0112%	43m	85,327.8	−0.016%	$527K	$18.4M	6.7x	as long as short
Phoenix BTC	−0.0111%	1h	85,308	−0.039%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,339	−0.003%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0054%	8h	85,308.1	−0.039%	$922.6M	$764.7M	125x	as long as short
BloFin BTC-USDT	−0.0034%	8h	85,226.9	−0.134%	$419.4M	$680.0M	150x	as long as short
Aster BTCUSDT	−0.0015%	8h	85,322.9	−0.021%	$512.7M	$1.09B	200x	as long as short
01 Exchange BTCUSDlong	−0.0008%	1h	85,341.2	long leg	$354K	$2.4M	50x
dYdX BTC-USD	+0.0001%	1h	85,297	−0.052%	$16.7M	$21.4M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,302.2	−0.046%	$36.4M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	85,225	−0.136%	$338K	$26.8M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0037%	1h	85,317	−0.028%	$24.8M	$222.4M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0056%	1h	85,321.4	−0.023%	$187.6M	$954.1M	100x	as long as short
BingX BTC-USDC	+0.0068%	8h	85,311.3	−0.035%	—	$17.5M	—	as long as short
Phemex BTCUSDT	+0.0074%	8h	85,308.6	−0.038%	$147.5M	$505.3M	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,299.1	−0.049%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDTshort	+0.0086%	8h	85,333.2	−0.009%	$5.04B	$5.73B	500x
Bitget BTCUSDT	+0.0086%	8h	85,355.4	+0.017%	$2.96B	$5.16B	150x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,334.3	−0.008%	$9.43B	$24.83B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,330.5	−0.013%	$171.3M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,334.8	−0.007%	$23.7M	$148.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,333	−0.010%	$8.3M	$55.8M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,340.9	0.000%	$116.9M	$5.40B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,305	−0.042%	$238K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,380.2	+0.046%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,428	+0.102%	$3.75B	$5.07B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,350.1	+0.010%	$40.0M	$597.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,340.8	0.000%	$5.14B	$9.95B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,350	+0.010%	$2.58B	$12.19B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,323	−0.021%	$3.8M	$17.5M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,331.9	−0.011%	$4.6M	$99.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,163.7	−0.208%	$678.5M	$565.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,326.5	−0.017%	$5.51B	$11.01B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,306	−0.041%	$36.3M	$176.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,218.8	−0.143%	$154.2M	$561.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,241.6	−0.117%	$279.4M	$948.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,107.4	−0.274%	$213.8M	$166.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,093.4	−0.290%	$139.1M	$315.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,285.1	−0.066%	$30.1M	$207.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,398.7	+0.067%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,350	+0.010%	$11.0M	$14.4M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,290.6	−0.059%	$205K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,306.8	−0.040%	$2.6M	$9.6M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,348.2	+0.008%	$228K	$760K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,279.7	−0.072%	$30.0M	$48.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,283	−0.068%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,310	−0.037%	$59.7M	$336.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,299	−0.049%	$2.26B	$942.2M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,301.3	−0.047%	$45.1M	$239.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,298.2	−0.050%	—	$106.9M	500x	as long as short
Deribit BTC-PERPETUAL	+0.0109%	1h	85,348.4	+0.008%	$866.9M	$1.61B	50x	as long as short
Reya BTCRUSDPERP	+0.0117%	1h	85,343.9	+0.003%	$6.6M	$147.4M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,295.1	−0.054%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0183%	8h	85,304	−0.044%	$11.5M	$743.5M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0225%	1h	85,223.3	−0.138%	$78K	$227K	20x	as long as short
Hibachi BTC/USDT-P	+0.0232%	1h	85,319.8	−0.025%	$688K	$8.0M	30x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,353	+0.014%	$8.7M	$43.2M	25x	as long as short