Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h +0.005%

Price spread now: MEXC against ApeX Omni−0.047%51s7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as 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−$150.150% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 7 days+0.055%+$5 · spread now −0.047%, 7d avg −0.009%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and MEXC is 0.038% cheaper against ApeX Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.009%). Swap the legs. The two prices were read 51 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	85,439.1	0.0100	pay 0.0013% / 1h	38m 31s	$139.7M	$314.2M	100x
Short	MEXC BTC_USDT	85,399.3	0.0090	get 0.0090% / 8h	4h 38m	$5.06B	$5.60B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$2.1
Price spread: −0.047% → −0.009%: −$3.76
Slippage, 4 orders: −$1.01
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$20.87
Costs to cover: 0.150%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 1 min ago; MEXC: live order book, 6 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, 1 min ago	0.50 bp	5.5 bp −$5	5.5 bp −$55	8.5 bp −$845	36.3 bp −$18.2K
Sell MEXC live order book, 6 min ago	0.01 bp	2.0 bp −$2	2.0 bp −$20	2.0 bp −$201	2.4 bp −$1,206

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	−0.0311%	1h	85,405.2	−0.040%	$206K	$739K	40x	as long as short
Phoenix BTC	−0.0179%	1h	85,385	−0.063%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,395	−0.052%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,429.7	−0.011%	$366K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0030%	8h	85,363.3	−0.089%	$416.0M	$665.1M	150x	as long as short
KuCoin XBTUSDTM	−0.0008%	8h	85,355.7	−0.098%	$918.1M	$750.4M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,435.4	−0.004%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0011%	8h	85,406.6	−0.038%	$514.7M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0019%	1h	85,384.6	−0.064%	$16.7M	$21.3M	50x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,398.8	−0.047%	$6.9M	$97.3M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0060%	8h	85,406.8	−0.038%	—	$1.54B	—	as long as short
Nado BTC-PERP	+0.0062%	1h	85,437.7	−0.002%	$25.7M	$220.8M	50x	as long as short
Bitget BTCUSDT	+0.0076%	8h	85,437.7	−0.002%	$2.96B	$5.03B	150x	as long as short
Reya BTCRUSDPERP	+0.0079%	1h	85,433.1	−0.007%	$6.7M	$146.7M	40x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,359.3	−0.093%	$2.4M	$1.7M	20x	as long as short
MEXC BTC_USDTshort	+0.0090%	8h	85,399.3	−0.047%	$5.06B	$5.60B	500x
Binance BTCUSDT	+0.0091%	8h	85,438.7	−0.001%	$9.35B	$24.06B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,382.6	−0.066%	$172.7M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,395	−0.052%	$23.7M	$148.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,439	0.000%	$8.4M	$52.7M	100x	as long as short
Phemex BTCUSDT	+0.0099%	8h	85,363	−0.089%	$149.3M	$484.4M	150x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,447.2	+0.009%	$4.3M	$8.6M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,391	−0.056%	$217K	$8.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,442	+0.003%	$3.74B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,416.4	−0.027%	$40.0M	$578.1M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,427.8	−0.013%	$5.23B	$9.72B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,445.2	+0.007%	$2.58B	$12.10B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,388	−0.060%	$3.9M	$18.0M	25x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,399.9	−0.046%	$5.52B	$10.63B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,358.3	−0.095%	$35.7M	$176.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,453.7	+0.017%	$153.6M	$563.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,527.2	+0.103%	$279.4M	$916.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,454	+0.017%	$214.5M	$169.8M	50x	as long as short
ApeX Omni BTCUSDTlong	+0.0100%	1h	85,439.1	long leg	$139.7M	$314.2M	100x
StandX BTC-USD	+0.0100%	1h	85,454.6	+0.018%	$30.2M	$207.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,477.4	+0.045%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,432	−0.008%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,429	−0.012%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,380	−0.069%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,362.6	−0.090%	$29.9M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,445.9	+0.008%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,363	−0.089%	$59.8M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,357.3	−0.096%	$2.26B	$940.8M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,513.6	+0.087%	$649.6M	$594.9M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,373.1	−0.077%	$44.5M	$226.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,434.4	−0.006%	—	$106.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,402.1	−0.043%	$116.9M	$5.16B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0148%	1h	85,409.3	−0.035%	$894.0M	$1.53B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,539	+0.117%	$340K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0171%	1h	85,378.1	−0.071%	$188.2M	$954.4M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0153%	1h	85,436.8	−0.003%	$13.4M	—	200x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,444.5	+0.006%	$8.3M	$42.4M	25x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,468.9	+0.035%	$692K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0200%	1h	85,508	+0.081%	$78K	$219K	20x	as long as short
Kalshi KXBTCPERP	+0.0217%	8h	85,484	+0.053%	$10.4M	$758.7M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,467.1	+0.033%	$497K	$18.9M	6.7x	as long as short