Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.004%

Price spread now: ApeX Omni against KuCoin−0.047%7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

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

costs, in and out, $10k−$240.236% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 7 days+0.042%+$4 · spread now −0.047%, 7d avg +0.010%

Together, before fees+0.114%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.057% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of +0.010%). If the spread goes back, that is −$6 on $10k: about 47 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.072% in total) that is about 5.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XBTUSDTM	85,299.2	−0.0006	get 0.0006% / 8h	2m 40s	$928.8M	$776.7M	125x
Short	ApeX Omni BTCUSDT	85,259	0.0092	get 0.0011% / 1h	2m 40s	$138.0M	$312.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now −0.047%Rate

Funding earned: $20.48
Price spread: −0.047% → +0.010%: −$5.71
Slippage, 4 orders: −$1.62
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$8.85
Costs to cover: 0.236%
Break-even: 10.0 days

Slippage from KuCoin: live order book, 7 min ago; ApeX Omni: 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 KuCoin live order book, 7 min ago	0.01 bp	6.0 bp −$6	6.6 bp −$66	7.6 bp −$755	10.8 bp −$5,386
Sell ApeX Omni live order book, 2 min ago	0.77 bp	5.8 bp −$6	5.9 bp −$59	16.7 bp −$1,670	40.0 bp −$20.0K

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
Hotstuff BTC-PERP	−0.0080%	1h	85,279	−0.024%	$8K	$3K	50x	as long as short
Phoenix BTC	−0.0034%	1h	85,306	+0.008%	$2.3M	$10.8M	40x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,279.7	−0.023%	$421.7M	$684.9M	150x	as long as short
KuCoin XBTUSDTMlong	−0.0006%	8h	85,299.2	long leg	$928.8M	$776.7M	125x
01 Exchange BTCUSD	0.0000%	1h	85,285.9	−0.016%	$345K	$2.3M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,283.2	−0.019%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0017%	8h	85,294.1	−0.006%	$502.7M	$1.09B	200x	as long as short
dYdX BTC-USD	+0.0021%	1h	85,277.8	−0.025%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0026%	1h	85,289.4	−0.011%	$186.1M	$953.6M	100x	as long as short
Injective BTC/USDC PERP	+0.0067%	1h	85,301	+0.002%	$311K	$26.1M	52x	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	+0.0067%	8h	85,303.2	+0.005%	—	$1.58B	—	as long as short
Bybit BTCUSDT	+0.0087%	8h	85,298.9	0.000%	$5.09B	$10.03B	150x	as long as short
ApeX Omni BTCUSDTshort	+0.0092%	1h	85,259	−0.047%	$138.0M	$312.7M	100x
Nado BTC-PERP	+0.0095%	1h	85,279.1	−0.024%	$24.0M	$221.5M	50x	as long as short
Lighter BTC	+0.0096%	1h	85,312.5	+0.016%	$169.5M	$1.03B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,310.5	+0.013%	$23.6M	$149.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,274	−0.030%	$8.4M	$57.8M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,269.3	−0.035%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,256	−0.051%	$265K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,351.8	+0.062%	$5.7M	$9.5M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,317.5	+0.022%	$40.0M	$605.4M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,298.2	−0.001%	$9.39B	$25.17B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,300	+0.001%	$2.60B	$12.26B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,272	−0.032%	$3.8M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,299.7	+0.001%	$4.6M	$97.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,256	−0.051%	$695.2M	$190.7M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,299.1	0.000%	$5.46B	$11.18B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,297.1	−0.002%	$5.03B	$5.78B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,295.9	−0.004%	$2.97B	$5.20B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,296.7	−0.003%	$36.7M	$191.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,262.8	−0.043%	$155.2M	$549.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,243.5	−0.065%	$282.7M	$958.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,269.1	−0.035%	$214.0M	$159.3M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,287	−0.014%	$30.1M	$215.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,352.5	+0.063%	—	$9.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,282	−0.020%	$10.9M	$15.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,275.3	−0.028%	$199K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,273.9	−0.030%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,316.7	+0.021%	$193K	$796K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,301.3	+0.002%	$28.8M	$47.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,267.5	−0.037%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,270	−0.034%	$59.7M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,272	−0.032%	$2.25B	$974.0M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,289.4	−0.011%	$158.7M	$516.2M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,283.1	−0.019%	$45.7M	$241.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,287.3	−0.014%	—	$106.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,335.7	+0.043%	$111.7M	$5.46B	50x	as long as short
Hyperliquid BTC	+0.0126%	1h	85,390.9	+0.108%	$3.79B	$5.11B	40x	as long as short
Deribit BTC-PERPETUAL	+0.0138%	1h	85,311.7	+0.015%	$830.0M	$1.66B	50x	as long as short
Reya BTCRUSDPERP	+0.0145%	1h	85,264.9	−0.040%	$6.6M	$141.2M	40x	as long as short
Kalshi KXBTCPERP	+0.0173%	8h	85,302	+0.003%	$12.0M	$737.2M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0149%	1h	85,273.4	−0.030%	$13.0M	—	200x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,303.5	+0.005%	$8.8M	$42.9M	25x	as long as short
Aftermath Perps BTCUSD	+0.0290%	1h	85,293.4	−0.007%	$81K	$250K	20x	as long as short
Hibachi BTC/USDT-P	+0.0304%	1h	85,322.2	+0.027%	$682K	$7.8M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,293.4	−0.007%	$466K	$18.4M	6.7x	as long as short