Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0006%/8h= −0.6% APRpaid last 24h −0.006%

Price spread now: ApeX Omni against MEXC+0.079%111s7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as 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−$140.145% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 7 days−0.092%−$9 · spread now +0.079%, 7d avg +0.009%

Together, before fees−0.069%−$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.070% dearer against MEXC than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.009%. The two prices were read 111 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	MEXC BTC_USDT	85,645	0.0092	pay 0.0092% / 8h	6h 17m	$5.08B	$5.74B	500x
Short	ApeX Omni BTCUSDT	85,712.3	0.0086	get 0.0011% / 1h	17m 37s	$140.1M	$318.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now +0.079%Rate

Funding earned: −$1.19
Price spread: +0.079% → +0.009%: $6.95
Slippage, 4 orders: −$0.46
Fee MEXC: 2 bp × 2 orders: −$4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$8.7
Costs to cover: 0.145%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 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 MEXC live order book, 2 min ago	0.01 bp	2.2 bp −$2	2.5 bp −$25	2.6 bp −$256	3.0 bp −$1,501
Sell ApeX Omni live order book, 2 min ago	0.15 bp	5.1 bp −$5	5.1 bp −$51	12.2 bp −$1,224	43.0 bp −$21.5K

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	−0.0144%	1h	85,785	+0.163%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,660	+0.018%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,632.6	−0.014%	$362K	$2.3M	50x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,692.4	+0.055%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,700.7	+0.065%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	+0.054%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0031%	8h	85,649.9	+0.006%	$900.5M	$753.5M	125x	as long as short
Aster BTCUSDT	+0.0033%	8h	85,649	+0.005%	$515.9M	$1.14B	200x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,667.3	+0.026%	$8.2M	$42.1M	25x	as long as short
Nado BTC-PERP	+0.0046%	1h	85,697.9	+0.062%	$22.6M	$227.4M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0056%	8h	85,634.8	−0.012%	—	$17.1M	—	as long as short
Reya BTCRUSDPERP	+0.0059%	1h	85,671.4	+0.031%	$6.7M	$146.3M	40x	as long as short
HTX BTC-USDT	+0.0066%	8h	85,679.1	+0.040%	$2.27B	$947.5M	200x	as long as short
Bitget BTCUSDT	+0.0070%	8h	85,641.4	−0.004%	$2.95B	$5.08B	150x	as long as short
ApeX Omni BTCUSDTshort	+0.0086%	1h	85,712.3	+0.079%	$140.1M	$318.2M	100x
Binance BTCUSDT	+0.0091%	8h	85,657.5	+0.015%	$9.33B	$24.30B	150x	as long as short
MEXC BTC_USDTlong	+0.0092%	8h	85,645	long leg	$5.08B	$5.74B	500x
Lighter BTC	+0.0096%	1h	85,663.2	+0.021%	$170.4M	$992.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,672.9	+0.033%	$23.5M	$147.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,636	−0.011%	$8.4M	$51.9M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,681.7	+0.043%	$2.5M	$1.8M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,616	−0.034%	$202K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,637.8	−0.008%	$3.8M	$8.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,726	+0.095%	$3.76B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,692	+0.055%	$40.8M	$571.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,660.7	+0.018%	$5.30B	$9.74B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,658.6	+0.016%	$2.54B	$12.34B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,652	+0.008%	$3.9M	$18.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,616	−0.034%	$7.2M	$97.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,744.8	+0.116%	$590.5M	$195.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,648.4	+0.004%	$5.59B	$10.57B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,649.4	+0.005%	$35.2M	$165.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,688	+0.050%	$156.6M	$555.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,709.8	+0.076%	$278.8M	$940.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,761.2	+0.136%	$215.2M	$166.3M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,624.3	−0.024%	$30.3M	$208.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,728.5	+0.097%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,669	+0.028%	$11.0M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,693	+0.056%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,681.5	+0.043%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,728.8	+0.098%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,688.5	+0.051%	$30.0M	$56.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,665.8	+0.024%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,692	+0.055%	$60.0M	$337.0M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,691.6	+0.054%	$153.6M	$480.5M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,618.2	−0.031%	$44.0M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,668.5	+0.027%	—	$101.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,726.1	+0.095%	$131.3M	$5.15B	50x	as long as short
Hibachi BTC/USDT-P	+0.0144%	1h	85,671.4	+0.031%	$694K	$7.8M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,716	+0.083%	$187.9M	$963.6M	100x	as long as short
Aftermath Perps BTCUSD	+0.0171%	1h	85,716.7	+0.084%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0189%	1h	85,696.1	+0.060%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,702	+0.067%	$10.2M	$770.2M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0248%	1h	85,742.2	+0.113%	$894.6M	$1.54B	50x	as long as short
Perpl BTC	+0.0447%	43m	85,695.5	+0.059%	$514K	$20.5M	6.7x	as long as short