Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h −0.022%

Price spread now: edgeX against MEXC−0.034%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$130.130% of the position

Long on MEXC Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.191%−$19 on $10k

Price spread, last 7 days+0.023%+$2 · spread now −0.034%, 7d avg −0.038%

Together, before fees−0.168%+ Points / potential airdropedgeX: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.038%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.191%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BTC_USDT	86,581.1	0.0059	pay 0.0059% / 8h	1h 44m	$5.18B	$5.63B	500x
Short	edgeX BTCUSDC	86,551.4	0.0100	get 0.0050% / 4h	1h 44m	$279.5M	$943.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.034%Rate

Funding earned: $8.61
Price spread: −0.034% → −0.038%: $0.38
Slippage, 4 orders: −$0.05
Fee MEXC: 2 bp × 2 orders: −$4
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$4.06
Costs to cover: 0.130%
Break-even: 10.3 days

Slippage from MEXC: live order book, 4 min ago; edgeX: 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, 4 min ago	0.01 bp	2.0 bp −$2	2.0 bp −$20	2.0 bp −$201	2.1 bp −$1,071
Sell edgeX live order book, 4 min ago	0.02 bp	4.5 bp −$5	4.5 bp −$45	4.7 bp −$472	5.8 bp −$2,897

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	−0.1446%	1h	86,625.8	+0.052%	$141K	$618K	40x	as long as short
Aftermath Perps BTCUSD	−0.0182%	1h	86,586.7	+0.006%	$79K	$199K	20x	as long as short
Phoenix BTC	−0.0159%	1h	86,518	−0.073%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,608	+0.031%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0016%	1h	86,587.1	+0.007%	$17.5M	$20.3M	50x	as long as short
Aster BTCUSDT	−0.0007%	8h	86,581.9	+0.001%	$505.5M	$1.15B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,636.3	+0.064%	$359K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,628.4	+0.055%	$421K	$24.1M	6.7x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,611.2	+0.035%	$852.4M	$708.2M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,626.7	+0.053%	$36.8M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0006%	1h	86,619	+0.044%	$8.6M	$43.2M	25x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,594.5	+0.015%	$6.7M	$144.7M	40x	as long as short
Phemex BTCUSDT	+0.0024%	8h	86,595	+0.016%	$149.6M	$473.0M	150x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,559	−0.026%	$315K	$26.8M	52x	as long as short
Hibachi BTC/USDT-P	+0.0024%	1h	86,594.3	+0.015%	$734K	$8.1M	30x	as long as short
BingX BTC-USDT	+0.0031%	8h	86,581.8	+0.001%	—	$1.59B	—	as long as short
Deribit BTC-PERPETUAL	+0.0035%	1h	86,640.4	+0.068%	$925.1M	$1.47B	50x	as long as short
Bitget BTCUSDT	+0.0040%	8h	86,591.3	+0.012%	$2.95B	$5.07B	150x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,594	+0.015%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDTlong	+0.0059%	8h	86,581.1	long leg	$5.18B	$5.63B	500x
Binance BTCUSDT	+0.0059%	8h	86,583.9	+0.003%	$9.43B	$24.32B	150x	as long as short
Gate BTC_USDT	+0.0084%	8h	86,580.3	−0.001%	$5.86B	$10.63B	200x	as long as short
Bybit BTCUSDT	+0.0088%	8h	86,589.8	+0.010%	$5.28B	$9.70B	150x	as long as short
SoDEX BTC-USD	+0.0089%	1h	86,600	+0.022%	$60.5M	$336.9M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,610	+0.033%	$172.4M	$998.8M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,619.3	+0.044%	$24.0M	$151.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,612	+0.036%	$8.5M	$52.2M	100x	as long as short
Nado BTC-PERP	+0.0098%	1h	86,592.9	+0.014%	$21.8M	$233.4M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,605	+0.028%	$207K	$6.9M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,661.4	+0.093%	$4.7M	$8.3M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,658.8	+0.090%	$3.81B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,645	+0.074%	$40.9M	$504.7M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,596.3	+0.018%	$2.55B	$12.69B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,621	+0.046%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,688.4	+0.124%	$7.4M	$94.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,527.4	−0.062%	$571.7M	$19.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,587.6	+0.008%	$38.2M	$152.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,560.2	−0.024%	$156.7M	$569.2M	—	as long as short
edgeX BTCUSDCshort	+0.0100%	4h	86,551.4	−0.034%	$279.5M	$943.5M	100x
GRVT BTC_USDT_Perp	+0.0100%	8h	86,562.1	−0.022%	$217.2M	$180.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,583.3	+0.003%	$141.5M	$323.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,567.6	−0.016%	$30.7M	$202.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,652.9	+0.083%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,616	+0.040%	$11.1M	$13.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,609.5	+0.033%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,609.3	+0.033%	$2.5M	$8.6M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,601.1	+0.023%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,601.9	+0.024%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,602.7	+0.025%	$2.30B	$958.6M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,574.9	−0.007%	$46.5M	$224.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,597.9	+0.019%	—	$98.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,641	+0.069%	$131.8M	$5.74B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,633.6	+0.061%	$191.4M	$936.7M	100x	as long as short
BloFin BTC-USDT	+0.0179%	8h	86,599.9	+0.022%	$415.4M	$653.3M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0208%	1h	86,621.5	+0.047%	$15.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0189%	8h	86,628	+0.054%	$9.6M	$726.1M	6.4x	as long as short