Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.005%

Price spread now: Bitget against ApeX Omni−0.039%83s7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as 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−$230.234% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 7 days+0.053%+$5 · spread now −0.039%, 7d avg −0.009%

Together, before fees+0.006%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.030% cheaper against ApeX Omni than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.009%). Swap the legs. The two prices were read 83 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	ApeX Omni BTCUSDT	85,773.2	0.0100	pay 0.0013% / 1h	12m 08s	$140.4M	$314.6M	100x
Short	Bitget BTCUSDT	85,739.5	0.0072	get 0.0072% / 8h	5h 12m	$2.96B	$5.01B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against ApeX Omni. 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 ApeX OmnibpFee BitgetbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$5.88
Price spread: −0.039% → −0.009%: −$2.99
Slippage, 4 orders: −$1.4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$32.27
Costs to cover: 0.234%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 2 min ago; Bitget: 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 ApeX Omni live order book, 2 min ago	0.69 bp	5.7 bp −$6	5.7 bp −$57	7.7 bp −$772	38.0 bp −$19.0K
Sell Bitget live order book, 2 min ago	0.01 bp	6.0 bp −$6	7.1 bp −$71	7.9 bp −$792	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
Bluefin BTC-PERP	−0.0649%	1h	85,782.9	+0.011%	$196K	$721K	40x	as long as short
Phoenix BTC	−0.0160%	1h	85,753	−0.024%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,760	−0.015%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,762.9	−0.012%	$369K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0032%	8h	85,743.9	−0.034%	$417.6M	$665.4M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,748.6	−0.029%	$16.7M	$21.2M	50x	as long as short
KuCoin XBTUSDTM	+0.0004%	8h	85,728.4	−0.052%	$919.4M	$751.4M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,763.3	−0.012%	$36.7M	—	200x	as long as short
Nado BTC-PERP	+0.0012%	1h	85,759.3	−0.016%	$22.6M	$219.5M	50x	as long as short
Aster BTCUSDT	+0.0019%	8h	85,745.8	−0.032%	$516.6M	$1.10B	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	+0.0056%	8h	85,726	−0.055%	—	$17.0M	—	as long as short
Bitget BTCUSDTshort	+0.0072%	8h	85,739.5	−0.039%	$2.96B	$5.01B	150x
Reya BTCRUSDPERP	+0.0072%	1h	85,745.7	−0.032%	$6.7M	$146.5M	40x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,807	+0.039%	$341K	$26.9M	52x	as long as short
Phemex BTCUSDT	+0.0080%	8h	85,735.3	−0.044%	$148.9M	$480.0M	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,739.2	−0.040%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0087%	8h	85,735.4	−0.044%	$5.07B	$5.64B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,735.9	−0.043%	$9.35B	$23.87B	150x	as long as short
HTX BTC-USDT	+0.0090%	8h	85,743.7	−0.034%	$2.27B	$935.9M	200x	as long as short
SoDEX BTC-USD	+0.0093%	1h	85,744	−0.034%	$60.0M	$336.2M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,747.5	−0.030%	$174.9M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,753.5	−0.023%	$23.9M	$149.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,759	−0.017%	$8.4M	$52.2M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,806.1	+0.038%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,736	−0.043%	$198K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,818.7	+0.053%	$3.75B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,798.1	+0.029%	$40.2M	$577.3M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,742.2	−0.036%	$5.33B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,750	−0.027%	$2.58B	$12.11B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,746	−0.032%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,737.9	−0.041%	$6.8M	$97.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,800.8	+0.032%	$635.6M	$478.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,744.5	−0.033%	$5.56B	$10.56B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,740.3	−0.038%	$35.3M	$172.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,806.6	+0.039%	$157.6M	$550.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,742.6	−0.036%	$280.1M	$921.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,770.9	−0.003%	$215.4M	$166.0M	50x	as long as short
ApeX Omni BTCUSDTlong	+0.0100%	1h	85,773.2	long leg	$140.4M	$314.6M	100x
StandX BTC-USD	+0.0100%	1h	85,766.5	−0.008%	$30.3M	$209.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,806.6	+0.039%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,753	−0.024%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,757	−0.019%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,739.4	−0.039%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,740.7	−0.038%	$30.0M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,735.2	−0.044%	$2.9M	$6.1M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	85,721.5	−0.060%	$44.2M	$226.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,758.7	−0.017%	—	$105.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,777.9	+0.005%	$126.5M	$5.10B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,787.5	+0.017%	$8.4M	$42.2M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0126%	1h	85,785.1	+0.014%	$891.6M	$1.53B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,766.7	−0.008%	$189.3M	$952.5M	100x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	85,792	+0.022%	$704K	$7.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0201%	1h	85,784.9	+0.014%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0178%	1h	85,760.6	−0.015%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0219%	8h	85,783	+0.011%	$10.6M	$758.1M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,786	+0.015%	$506K	$19.2M	6.7x	as long as short