Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: HTX against MEXC−0.009%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

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

costs, in and out, $10k−$160.160% of the position

Long on MEXC Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)−0.044%−$4 · spread now −0.009%, 7d avg −0.012%

Together, before fees−0.063%−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BTC_USDT	85,595.4	0.0100	pay 0.0100% / 8h	3h 43m	$5.06B	$5.64B	500x
Short	HTX BTC-USDT	85,587.3	0.0100	get 0.0100% / 8h	3h 43m	$2.27B	$946.3M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → −0.012%: $0.26
Slippage, 4 orders: −$0.02
Fee MEXC: 2 bp × 2 orders: −$4
Fee HTX: 6 bp × 2 orders: −$12
Net: −$15.76
Costs to cover: 0.160%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; HTX: 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 MEXC live order book, 1 min ago	0.01 bp	2.0 bp −$2	2.0 bp −$20	2.0 bp −$203	2.2 bp −$1,103
Sell HTX live order book, 1 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.8 bp −$675	9.5 bp −$4,768

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
Phoenix BTC	−0.0140%	1h	85,597	+0.002%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,610	+0.017%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0040%	8h	85,589.9	−0.006%	$916.9M	$756.6M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,599.6	+0.005%	$418.3M	$675.6M	150x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	85,599.6	+0.005%	$366K	$2.3M	50x	as long as short
Nado BTC-PERP	−0.0001%	1h	85,580.4	−0.018%	$24.7M	$222.4M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,631.4	+0.042%	$16.8M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,608	+0.015%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0008%	8h	85,574.5	−0.024%	$515.3M	$1.10B	200x	as long as short
Deribit BTC-PERPETUAL	+0.0023%	1h	85,628.5	+0.039%	$884.3M	$1.59B	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0044%	1h	85,690	+0.111%	$340K	$26.9M	52x	as long as short
BingX BTC-USDT	+0.0065%	8h	85,583.1	−0.014%	—	$1.54B	—	as long as short
Phemex BTCUSDT	+0.0071%	8h	85,592.6	−0.003%	$148.5M	$491.7M	150x	as long as short
SoDEX BTC-USD	+0.0077%	1h	85,584	−0.013%	$60.0M	$336.1M	40x	as long as short
Bitget BTCUSDT	+0.0081%	8h	85,598.5	+0.004%	$2.96B	$5.11B	150x	as long as short
Reya BTCRUSDPERP	+0.0094%	1h	85,601.7	+0.007%	$6.6M	$147.0M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,602.5	+0.008%	$172.0M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,603.2	+0.009%	$24.0M	$148.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,583	−0.014%	$8.7M	$54.6M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,581.6	−0.016%	$2.5M	$1.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,567	−0.033%	$203K	$8.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,644	+0.057%	$5.7M	$9.4M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,617.1	+0.025%	$40.6M	$584.8M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,599.7	+0.005%	$9.42B	$24.31B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,595	0.000%	$5.19B	$9.84B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,608.3	+0.015%	$2.59B	$12.14B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,580	−0.018%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,575.6	−0.023%	$4.4M	$98.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,605	+0.011%	$5.54B	$10.77B	200x	as long as short
MEXC BTC_USDTlong	+0.0100%	8h	85,595.4	long leg	$5.06B	$5.64B	500x
Backpack BTC_USDC_PERP	+0.0100%	1h	85,586.7	−0.010%	$35.5M	$177.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,612.6	+0.020%	$153.5M	$564.7M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,612.9	+0.020%	$279.7M	$927.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,598.4	+0.004%	$215.0M	$169.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,592.9	−0.003%	$140.0M	$315.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,627.5	+0.037%	$30.2M	$207.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,654.7	+0.069%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,603	+0.009%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,605	+0.011%	$198K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,586.6	−0.010%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,633.1	+0.044%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,579.2	−0.019%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,575.4	−0.023%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDTshort	+0.0100%	8h	85,587.3	−0.009%	$2.27B	$946.3M	200x
Bulk BTC-USD	+0.0100%	1h	85,580.4	−0.018%	$679.0M	$730.0M	40x	as long as short
Hyperliquid BTC	+0.0101%	1h	85,678	+0.097%	$3.79B	$5.02B	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,563.1	−0.038%	$44.8M	$231.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,601.9	+0.008%	—	$107.6M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,623.7	+0.033%	$117.0M	$5.22B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,605	+0.011%	$187.9M	$955.1M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,619.5	+0.028%	$8.7M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0201% / S −0.0177%	1h	85,609.1	+0.016%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0220%	8h	85,625	+0.035%	$12.0M	$755.9M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0232%	1h	85,626.8	+0.037%	$78K	$220K	20x	as long as short
Hibachi BTC/USDT-P	+0.0248%	1h	85,629.7	+0.040%	$696K	$7.9M	30x	as long as short
Perpl BTC	+0.0335%	43m	85,595.4	0.000%	$500K	$18.8M	6.7x	as long as short