BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0020%/8h= −2.2% APRnext payment −$0.02 per $10,000 · paid last 24h +0.008%

Price spread now: Kraken Futures against ApeX Omni−0.096%75s7-day average +0.011% · you buy dearer than you sell

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−$220.218% of the position

Long on ApeX Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.128%+$13 · spread now −0.096%, 7d avg +0.011%

Together, before fees+0.129%+$13 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 Kraken Futures is 0.106% cheaper against ApeX Omni than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.011%). Swap the legs. The two prices were read 75 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	85,463	0.0076	pay 0.0009% / 1h	46m 03s	$139.7M	$315.4M	100x
Short	Kraken Futures PF_XBTUSD	85,381	0.0056	get 0.0007% / 1h	46m 03s	$187.8M	$955.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.096%Rate

Funding earned: −$4.13
Price spread: −0.096% → +0.011%: −$10.64
Slippage, 4 orders: −$1.76
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$36.53
Costs to cover: 0.218%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 8 min ago; Kraken Futures: live order book, 3 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, 8 min ago	0.76 bp	5.8 bp −$6	5.8 bp −$58	9.0 bp −$900	36.2 bp −$18.1K
Sell Kraken Futures live order book, 3 min ago	0.06 bp	5.1 bp −$5	6.3 bp −$63	7.6 bp −$762	9.3 bp −$4,663

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	−0.0111%	1h	85,432	−0.036%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,381	−0.096%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0054%	8h	85,348.3	−0.134%	$919.5M	$761.0M	125x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	85,364.5	−0.115%	$381K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0030%	8h	85,357.3	−0.124%	$420.3M	$676.2M	150x	as long as short
Aster BTCUSDT	−0.0012%	8h	85,356.2	−0.125%	$513.5M	$1.10B	200x	as long as short
Perpl BTC	0.0000%	43m	85,377.2	−0.100%	$532K	$18.8M	6.7x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,407.8	−0.065%	$16.8M	$21.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,377.4	−0.100%	$36.5M	—	200x	as long as short
Nado BTC-PERP	+0.0013%	1h	85,359.5	−0.121%	$24.6M	$223.9M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0023%	1h	85,449	−0.016%	$339K	$26.8M	52x	as long as short
Kraken Futures PF_XBTUSDshort	+0.0056%	1h	85,381	−0.096%	$187.8M	$955.0M	100x
SoDEX BTC-USD	+0.0060%	1h	85,357	−0.124%	$59.8M	$335.9M	40x	as long as short
BingX BTC-USDC	+0.0064%	8h	85,346.4	−0.136%	—	$17.3M	—	as long as short
Bullet BTC-USD	+0.0067%	1h	85,356	−0.125%	$202K	$3.3M	20x	as long as short
Phemex BTCUSDT	+0.0073%	8h	85,364.5	−0.115%	$149.3M	$501.1M	150x	as long as short
ApeX Omni BTCUSDTlong	+0.0076%	1h	85,463	long leg	$139.7M	$315.4M	100x
Bitget BTCUSDT	+0.0081%	8h	85,364.6	−0.115%	$2.95B	$5.15B	150x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,354.5	−0.127%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0089%	8h	85,354.1	−0.127%	$5.07B	$5.67B	500x	as long as short
Binance BTCUSDT	+0.0089%	8h	85,358.1	−0.123%	$9.43B	$24.73B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,372.5	−0.106%	$171.7M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,374	−0.104%	$23.8M	$147.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,365	−0.115%	$8.4M	$55.4M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0096%	1h	85,397.3	−0.077%	$116.9M	$5.31B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,335	−0.150%	$238K	$8.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,415.1	−0.056%	$5.6M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,435	−0.033%	$3.78B	$5.04B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,400.8	−0.073%	$40.1M	$595.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,357.5	−0.123%	$5.17B	$9.89B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,368	−0.111%	$2.59B	$12.13B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,363	−0.117%	$3.8M	$17.5M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,368.4	−0.111%	$4.7M	$99.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,368.6	−0.110%	$5.53B	$10.81B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,353.1	−0.129%	$36.5M	$174.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,345	−0.138%	$154.3M	$564.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,425.6	−0.044%	$279.4M	$939.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,475.7	+0.015%	$214.8M	$169.0M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,452.1	−0.013%	$30.1M	$206.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,433.3	−0.035%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,364	−0.116%	$11.1M	$14.4M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,357.3	−0.124%	$2.3M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,405	−0.068%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,338.4	−0.146%	$30.0M	$50.3M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,345.7	−0.137%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,362.7	−0.117%	$2.26B	$952.1M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,429	−0.040%	$679.8M	$655.7M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,330	−0.156%	$45.7M	$236.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,377.5	−0.100%	—	$106.8M	500x	as long as short
Deribit BTC-PERPETUAL	+0.0109%	1h	85,403.6	−0.069%	$872.2M	$1.60B	50x	as long as short
Reya BTCRUSDPERP	+0.0110%	1h	85,351.4	−0.131%	$6.6M	$147.3M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,372	−0.106%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0180%	8h	85,391	−0.084%	$11.4M	$749.6M	6.4x	as long as short
Hibachi BTC/USDT-P	+0.0232%	1h	85,420.9	−0.049%	$695K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0236%	1h	85,434.3	−0.034%	$79K	$225K	20x	as long as short
RISEx BTC/USDC	+0.0257%	1h	85,395.7	−0.079%	$8.8M	$43.1M	25x	as long as short