Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h −0.005%

Price spread now: Arcus against MEXC−0.030%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$100.096% of the position

Long on MEXC Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.006%+$1 on $10k

Price spread, last 7 days+0.144%+$14 · spread now −0.030%, 7d avg +0.031%

Together, before fees+0.150%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.062% cheaper against MEXC than usual: you would sell low and buy high (spread −0.030% now, against its 7-day average of +0.031%). If the spread goes back, that is −$6 on $10k: about 5.7 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.006% in total) that is about 39 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BTC_USDT	85,878.1	0.0064	pay 0.0064% / 8h	4h 28m	$5.16B	$4.74B	500x
Short	Arcus BTC-USD	85,852.1	0.0100	get 0.0013% / 1h	28m 28s	$4.8M	$90.8M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.030%Rate

Funding earned: $7.56
Price spread: −0.030% → +0.031%: −$6.18
Slippage, 4 orders: −$1.09
Fee MEXC: 2 bp × 2 orders: −$4
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$8.2
Costs to cover: 0.096%
Break-even: 14.6 days

Slippage from MEXC: live order book, 9 min ago; Arcus: live order book, 4 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, 9 min ago	0.01 bp	2.0 bp −$2	2.0 bp −$20	2.5 bp −$246	2.9 bp −$1,474
Sell Arcus live order book, 4 min ago	0.23 bp	2.8 bp −$3	2.9 bp −$29	3.6 bp −$359	doesn't fit

BTC on 55 exchanges

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	−0.0150%	1h	86,005	+0.148%	$2.1M	$7.7M	40x	as long as short
Perpl BTC	−0.0112%	43m	85,851.2	−0.031%	$466K	$13.3M	6.7x	as long as short
BloFin BTC-USDT	−0.0054%	8h	85,887.7	+0.011%	$421.7M	$551.9M	150x	as long as short
SoDEX BTC-USD	−0.0048%	1h	85,882	+0.005%	$65.8M	$186.7M	40x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,858.4	−0.023%	$365K	$1.8M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,846.5	−0.037%	$16.8M	$13.6M	50x	as long as short
Injective BTC/USDC PERP	+0.0001%	1h	86,030	+0.177%	$311K	$30.1M	52x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,902.4	+0.028%	$36.9M	—	200x	as long as short
Aster BTCUSDT	+0.0006%	8h	85,872.1	−0.007%	$509.5M	$826.4M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0019%	1h	85,900.5	+0.026%	$192.7M	$736.5M	100x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex BTCUSDT	+0.0048%	1h	85,858	−0.023%	$8.6M	$46.2M	100x	as long as short
KuCoin XBTUSDTM	+0.0052%	8h	85,863.2	−0.017%	$949.7M	$633.8M	125x	as long as short
BingX BTC-USDT	+0.0052%	8h	85,887.8	+0.011%	—	$1.28B	—	as long as short
Phemex BTCUSDT	+0.0058%	8h	85,894.3	+0.019%	$172.3M	$473.4M	150x	as long as short
Bybit BTCUSDT	+0.0062%	8h	85,900.1	+0.026%	$5.14B	$7.97B	150x	as long as short
MEXC BTC_USDTlong	+0.0064%	8h	85,878.1	long leg	$5.16B	$4.74B	500x
Aevo BTC-PERP	+0.0064%	1h	85,882.5	+0.005%	$2.4M	$6.8M	20x	as long as short
Binance BTCUSDT	+0.0065%	8h	85,881	+0.003%	$9.40B	$19.97B	150x	as long as short
Gate BTC_USDT	+0.0072%	8h	85,850.7	−0.032%	$5.51B	$8.81B	200x	as long as short
HTX BTC-USDT	+0.0076%	8h	85,896.8	+0.022%	$2.27B	$751.3M	200x	as long as short
Bitget BTCUSDT	+0.0080%	8h	85,881.2	+0.004%	$2.99B	$3.82B	150x	as long as short
Bullet BTC-USD	+0.0084%	1h	85,889	+0.013%	$224K	$3.2M	20x	as long as short
Nado BTC-PERP	+0.0087%	1h	85,903.3	+0.029%	$23.8M	$189.2M	50x	as long as short
Lighter BTC	+0.0096%	1h	85,845.1	−0.038%	$173.6M	$845.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,849.9	−0.033%	$23.7M	$118.3M	50x	as long as short
Variational Omni BTC	+0.0099%	8h	85,921.3	+0.050%	$157.0M	$473.5M	—	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,822	−0.065%	$221K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,836.5	−0.048%	$5.7M	$7.2M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,874	−0.005%	$40.3M	$567.3M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,886.4	+0.010%	$2.63B	$9.07B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,842	−0.042%	$4.0M	$14.6M	25x	as long as short
Arcus BTC-USDshort	+0.0100%	1h	85,852.1	−0.030%	$4.8M	$90.8M	40x
Bulk BTC-USD	+0.0100%	1h	86,017.7	+0.163%	$716.4M	$72.9M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,879.9	+0.002%	$38.7M	$197.8M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,919.5	+0.048%	$289.8M	$728.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,946.3	+0.079%	$215.9M	$134.1M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,952	+0.086%	$138.0M	$285.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,910	+0.037%	$30.2M	$227.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,966.8	+0.103%	—	$10.5M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,875	−0.004%	$11.0M	$11.9M	50x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,894.1	+0.019%	$2.6M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,928.2	+0.058%	$143K	$608K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,957.8	+0.093%	$29.1M	$44.3M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,886.3	+0.010%	$3.3M	$6.8M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	85,809.5	−0.080%	$47.5M	$186.1M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,907.8	+0.035%	—	$76.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0128%	1h	85,925.5	+0.055%	$112.4M	$4.96B	50x	as long as short
Kalshi KXBTCPERP	+0.0159%	8h	85,929	+0.059%	$13.4M	$737.9M	6.4x	as long as short
RISEx BTC/USDC	+0.0165%	1h	85,877.4	−0.001%	$9.0M	$35.2M	25x	as long as short
Hyperliquid BTC	+0.0170%	1h	85,968	+0.105%	$3.97B	$4.18B	40x	as long as short
Reya BTCRUSDPERP	+0.0175%	1h	85,867.4	−0.012%	$6.6M	$121.9M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0196%	1h	85,945.2	+0.078%	$819.2M	$1.48B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0211% / S −0.0252%	1h	85,896.8	+0.022%	$15.5M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0288%	1h	85,954.8	+0.089%	$694K	$6.8M	30x	as long as short
Aftermath Perps BTCUSD	+0.0296%	1h	85,961.1	+0.097%	$79K	$224K	20x	as long as short