BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0012%/8h= −1.3% APRnext payment −$0.01 per $10,000 · paid last 24h −0.021%

Price spread now: ApeX Omni against Coinbase International+0.009%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$200.201% of the position

Long on Coinbase International Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 4 days (all we have)+0.130%+$13 · spread now +0.009%, 7d avg −0.036%

Together, before fees+0.144%+$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.045% dearer against Coinbase International than usual: you sell high and buy low (spread +0.009% now, against its 7-day average of −0.036%): +$5 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BTC-PERP-INTX	85,471	0.0112	pay 0.0014% / 1h	41m 19s	$111.7M	$5.45B	50x
Short	ApeX Omni BTCUSDT	85,478.7	0.0100	get 0.0013% / 1h	41m 19s	$136.6M	$312.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Coinbase International. 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 Coinbase InternationalbpFee ApeX OmnibpOrdersPrice spread, now +0.009%Rate

Funding earned: −$2.52
Price spread: +0.009% → −0.036%: $4.53
Slippage, 4 orders: −$0.11
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$18.09
Costs to cover: 0.201%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; ApeX Omni: 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 Coinbase International live order book, 3 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.6 bp −$556	11.6 bp −$5,820
Sell ApeX Omni live order book, 3 min ago	0.05 bp	5.0 bp −$5	5.0 bp −$50	10.3 bp −$1,035	37.6 bp −$18.8K

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	−0.2490%	1h	85,448.6	−0.026%	$194K	$796K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,478	+0.008%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,434.1	−0.043%	$422.8M	$681.7M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,495	+0.028%	$307K	$24.2M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,463.3	−0.009%	$346K	$2.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,439.7	−0.037%	$36.5M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0012%	8h	85,436.9	−0.040%	$931.1M	$776.2M	125x	as long as short
Aster BTCUSDT	+0.0031%	8h	85,433.6	−0.044%	$502.3M	$1.08B	200x	as long as short
dYdX BTC-USD	+0.0054%	1h	85,468.3	−0.003%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,446.8	−0.028%	$186.2M	$947.1M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,525	+0.063%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDC	+0.0080%	8h	85,427.2	−0.051%	—	$17.4M	—	as long as short
Lighter BTC	+0.0096%	1h	85,447.2	−0.028%	$170.3M	$943.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,444.5	−0.031%	$23.6M	$134.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,444	−0.032%	$8.7M	$58.5M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,428.6	−0.050%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,417	−0.063%	$267K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,494	+0.027%	$5.7M	$9.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	85,437.1	−0.040%	$24.1M	$217.6M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,479.1	+0.009%	$40.1M	$605.5M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,425.8	−0.053%	$9.41B	$25.10B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,437.6	−0.039%	$5.09B	$9.99B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,436.2	−0.041%	$2.61B	$12.20B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,444	−0.032%	$3.9M	$17.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,462.9	−0.009%	$4.7M	$97.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,453	−0.021%	$700.3M	$171.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,445.3	−0.030%	$5.50B	$9.88B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,437.1	−0.040%	$5.06B	$5.73B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,428.7	−0.049%	$2.98B	$5.17B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,472	+0.001%	$37.8M	$193.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,465.7	−0.006%	$156.0M	$544.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,469.8	−0.001%	$283.4M	$962.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,417.2	−0.063%	$214.5M	$154.9M	50x	as long as short
ApeX Omni BTCUSDTshort	+0.0100%	1h	85,478.7	+0.009%	$136.6M	$312.4M	100x
StandX BTC-USD	+0.0100%	1h	85,483.9	+0.015%	$30.1M	$218.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,522.5	+0.060%	—	$10.1M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,230	−0.282%	$10.9M	$14.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,441	−0.035%	$198K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,439.4	−0.037%	$2.7M	$9.9M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,441.3	−0.035%	$2.9M	$6.7M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,432	−0.046%	$59.8M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,444.2	−0.031%	$2.26B	$974.4M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,440.4	−0.036%	$161.4M	$517.6M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,409.1	−0.072%	$45.8M	$241.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,472	+0.001%	—	$107.4M	500x	as long as short
Coinbase International BTC-PERP-INTXlong	+0.0112%	1h	85,471	long leg	$111.7M	$5.45B	50x
Reya BTCRUSDPERP	+0.0148%	1h	85,428.9	−0.049%	$6.6M	$138.9M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0148%	1h	85,504.8	+0.040%	$13.0M	—	200x	as long as short
Hyperliquid BTC	+0.0178%	1h	85,527	+0.066%	$3.83B	$5.20B	40x	as long as short
Kalshi KXBTCPERP	+0.0191%	8h	85,480	+0.011%	$10.6M	$738.2M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,463	−0.009%	$8.9M	$42.6M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0199%	1h	85,481.9	+0.013%	$828.2M	$1.66B	50x	as long as short
Derive BTC-PERP	+0.0222%	1h	85,494.8	+0.028%	$28.9M	$49.1M	15x	as long as short
Aftermath Perps BTCUSD	+0.0302%	1h	85,503.9	+0.038%	$81K	$248K	20x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	85,536.9	+0.077%	$688K	$7.7M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,472.2	+0.001%	$467K	$18.3M	6.7x	as long as short