Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0182%/8h= −19.9% APRpaid last 24h −0.004%

Price spread now: ApeX Omni against HTX−0.036%7-day average +0.024% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$230.227% of the position

Long on HTX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 3 days (all we have)+0.041%+$4 · spread now −0.036%, 7d avg +0.024%

Together, before fees+0.084%+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and ApeX Omni is 0.059% cheaper against HTX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.024%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BTC-USDT	85,496.9	0.0058	pay 0.0058% / 8h	5h 53m	$2.27B	$929.9M	200x
Short	ApeX Omni BTCUSDT	85,466.5	−0.0123	pay 0.0015% / 1h	53m 20s	$139.7M	$316.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against HTX. 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 HTXbpFee ApeX OmnibpOrdersPrice spread, now −0.036%Rate

Funding earned: −$38.15
Price spread: −0.036% → +0.024%: −$5.92
Slippage, 4 orders: −$0.73
Fee HTX: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$66.79
Costs to cover: 0.227%
Break-even: never at this rate

Slippage from HTX: live order book, 1 min ago; ApeX Omni: live order book, 1 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 HTX live order book, 1 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.5 bp −$646	9.1 bp −$4,531
Sell ApeX Omni live order book, 1 min ago	0.36 bp	5.4 bp −$5	5.4 bp −$54	8.4 bp −$844	37.8 bp −$18.9K

BTC on 55 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	−0.0160%	1h	85,538	+0.048%	$2.2M	$10.3M	40x	as long as short
ApeX Omni BTCUSDTshort	−0.0123%	1h	85,466.5	−0.036%	$139.7M	$316.3M	100x
Hotstuff BTC-PERP	−0.0080%	1h	85,516	+0.022%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,515.5	+0.022%	$365K	$2.3M	50x	as long as short
Nado BTC-PERP	−0.0013%	1h	85,501.3	+0.005%	$22.5M	$221.6M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,532.4	+0.042%	$16.7M	$20.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,575.3	+0.092%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0018%	8h	85,546.6	+0.058%	$515.7M	$1.11B	200x	as long as short
KuCoin XBTUSDTM	+0.0019%	8h	85,524.9	+0.033%	$905.2M	$745.1M	125x	as long as short
BingX BTC-USDT	+0.0054%	8h	85,567.6	+0.083%	—	$1.54B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BTC-USDTlong	+0.0058%	8h	85,496.9	long leg	$2.27B	$929.9M	200x
Reya BTCRUSDPERP	+0.0064%	1h	85,507.2	+0.012%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0067%	8h	85,568.5	+0.084%	$2.95B	$5.01B	150x	as long as short
SunX BTC-USDT	+0.0075%	8h	85,478.4	−0.022%	$2.9M	$6.2M	100x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,617	+0.140%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,570.1	+0.086%	$2.5M	$1.7M	20x	as long as short
Binance BTCUSDT	+0.0084%	8h	85,563.3	+0.078%	$9.33B	$23.82B	150x	as long as short
MEXC BTC_USDT	+0.0084%	8h	85,527.9	+0.036%	$5.07B	$5.57B	500x	as long as short
SoDEX BTC-USD	+0.0093%	1h	85,574	+0.090%	$59.9M	$336.3M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,499.9	+0.004%	$169.4M	$982.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,504.6	+0.009%	$23.9M	$147.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,519	+0.026%	$8.4M	$51.5M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,547	+0.059%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,487	−0.012%	$203K	$7.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,581	+0.098%	$3.76B	$4.90B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,533.2	+0.042%	$40.1M	$571.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,575.9	+0.092%	$5.33B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,579.1	+0.096%	$2.56B	$12.10B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,514	+0.020%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,473.9	−0.027%	$7.1M	$96.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,482.5	−0.017%	$608.2M	$317.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,569.3	+0.085%	$5.57B	$10.39B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,487	−0.012%	$34.7M	$169.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,577.1	+0.094%	$153.7M	$552.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,494.5	−0.003%	$278.1M	$928.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,468	−0.034%	$214.5M	$161.4M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,524.1	+0.032%	$30.2M	$211.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,562.7	+0.077%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,507	+0.012%	$11.0M	$14.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,561.7	+0.076%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,577.6	+0.094%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,618.9	+0.143%	$197K	$722K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,573.7	+0.090%	$30.0M	$52.7M	15x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,506.6	+0.011%	$149.1M	$478.8M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,489.7	−0.008%	$44.3M	$226.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,525.1	+0.033%	—	$103.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,547.6	+0.059%	$130.6M	$5.06B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,538.8	+0.049%	$8.3M	$42.2M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0139%	1h	85,540.4	+0.051%	$187.0M	$949.1M	100x	as long as short
Aftermath Perps BTCUSD	+0.0191%	1h	85,570.1	+0.086%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	85,527.1	+0.035%	$682K	$7.8M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0195%	1h	85,559.5	+0.073%	$894.9M	$1.52B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0181%	1h	85,570	+0.085%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,544	+0.055%	$10.4M	$760.4M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,559.5	+0.073%	$509K	$19.6M	6.7x	as long as short