Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0131%/8h= +14.3% APRpaid last 24h +0.027%

Price spread now: MEXC against 01 Exchange0.000%7-day average +0.003% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$150.145% of the position

Long on 01 Exchange Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.084%+$8 on $10k

Price spread, last 7 days−0.019%−$2 · spread now 0.000%, 7d avg +0.003%

Together, before fees+0.065%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	86,111.1	−0.0048	get 0.0006% / 1h	4m 34s	$363K	$2.3M	50x
Short	MEXC BTC_USDT	86,111.5	0.0083	get 0.0083% / 8h	7h 04m	$5.11B	$5.77B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against 01 Exchange. 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 01 ExchangebpFee MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $27.51
Price spread: 0.000% → +0.003%: −$0.24
Slippage, 4 orders: −$3.5
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee MEXC: 2 bp × 2 orders: −$4
Net: $12.77
Costs to cover: 0.145%
Break-even: 3.8 days

Slippage from 01 Exchange: live order book, 5 min ago; MEXC: live order book, 5 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 01 Exchange live order book, 5 min ago	0.01 bp	5.0 bp −$5	19.7 bp −$197	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.01 bp	2.0 bp −$2	2.0 bp −$20	2.0 bp −$201	2.2 bp −$1,084

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	−0.0129%	1h	86,215	+0.121%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,129	+0.021%	$9K	$3K	50x	as long as short
01 Exchange BTCUSDlong	−0.0048%	1h	86,111.1	long leg	$363K	$2.3M	50x
Perpl BTC	0.0000%	43m	86,110	−0.001%	$580K	$21.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,098.5	−0.015%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,365	+0.295%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0023%	1h	86,108.9	−0.003%	$16.9M	$20.5M	50x	as long as short
Aster BTCUSDT	+0.0031%	8h	86,109.3	−0.002%	$499.3M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0044%	8h	86,126.9	+0.018%	$827.8M	$715.8M	125x	as long as short
Reya BTCRUSDPERP	+0.0050%	1h	86,069.7	−0.048%	$6.7M	$145.8M	40x	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	+0.0052%	1h	86,122.8	+0.014%	$8.2M	$42.4M	25x	as long as short
BingX BTC-USDC	+0.0053%	8h	86,104.9	−0.007%	—	$15.3M	—	as long as short
HTX BTC-USDT	+0.0059%	8h	86,059	−0.061%	$2.28B	$957.9M	200x	as long as short
Bitget BTCUSDT	+0.0066%	8h	86,112.1	+0.001%	$2.96B	$5.06B	150x	as long as short
SoDEX BTC-USD	+0.0070%	1h	86,076	−0.041%	$60.3M	$338.3M	40x	as long as short
Bluefin BTC-PERP	+0.0076%	1h	86,106.8	−0.005%	$144K	$666K	40x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,066.4	−0.052%	$2.5M	$1.8M	20x	as long as short
Binance BTCUSDT	+0.0083%	8h	86,111.5	0.000%	$9.37B	$24.27B	150x	as long as short
MEXC BTC_USDTshort	+0.0083%	8h	86,111.5	0.000%	$5.11B	$5.77B	500x
Phemex BTCUSDT	+0.0086%	8h	86,070	−0.048%	$155.3M	$473.4M	150x	as long as short
Gate BTC_USDT	+0.0095%	8h	86,117.4	+0.007%	$5.77B	$10.67B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,133	+0.025%	$169.5M	$996.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,146.4	+0.041%	$23.5M	$152.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,113	+0.002%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,091	−0.023%	$201K	$7.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,165	+0.063%	$4.2M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,081.5	−0.034%	$22.0M	$225.2M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,176	+0.075%	$3.77B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,156.6	+0.053%	$40.8M	$560.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,122.6	+0.013%	$5.24B	$9.65B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,125.2	+0.016%	$2.56B	$12.41B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,120	+0.010%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,134.1	+0.027%	$7.3M	$95.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,059.9	−0.059%	$35.4M	$161.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,079.3	−0.037%	$156.4M	$555.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,114.1	+0.003%	$278.1M	$940.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,175.4	+0.075%	$216.3M	$165.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,194.2	+0.097%	$141.1M	$320.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,117.1	+0.007%	$30.6M	$207.0M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,127.1	+0.019%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,080	−0.036%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,077.8	−0.039%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,073.4	−0.044%	$2.4M	$9.1M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,090.9	−0.024%	$30.2M	$57.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,055.4	−0.065%	$3.3M	$5.4M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,141.5	+0.035%	$581.0M	$76.4M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,088	−0.027%	$46.0M	$222.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,105	−0.007%	—	$99.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,103.7	−0.009%	$132.4M	$5.27B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,108	−0.004%	$190.3M	$953.6M	100x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	86,112.1	+0.001%	$725K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0169%	1h	86,188	+0.089%	$77K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0203%	8h	86,079.9	−0.036%	$415.6M	$640.3M	150x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	86,107	−0.005%	$10.4M	$765.7M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0222%	1h	86,095.4	−0.018%	$14.5M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0211%	1h	86,131.9	+0.024%	$902.8M	$1.51B	50x	as long as short