Settings8H · net · $10k
Funding arb · Price arb /

BTC

all BTC markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 08:00 UTC+0.0038%/8h= +4.2% APRnext payment +$0.05 per $10,000 · paid last 24h +0.005%
Price spread now: Aevo against ApeX Omni+0.096%7-day average −0.023% · you sell dearer than you buy
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$300.296% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days−0.028%−$3 on $10k
Price spread, last 4 days (all we have)−0.085%−$8 · spread now +0.096%, 7d avg −0.023%
Together, before fees−0.113%−$11 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Aevo is 0.119% dearer against ApeX Omni than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.023%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni BTCUSDT85,1660.0058pay 0.0007% / 1h18m 47s$139.5M$312.5M100x
ShortAevo BTC-PERP85,247.90.0096get 0.0012% / 1h18m 47s$2.4M$6.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Aevo against ApeX Omni. 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

Funding earned
$8.08
Price spread: +0.096% → −0.023%
$11.94
Slippage, 4 orders
−$3.57
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Aevo: 8 bp × 2 orders
−$16
Net
−$9.56
Costs to cover
0.296%
Break-even
15.3 days
Slippage from ApeX Omni: live order book, just now; Aevo: live order book, just now.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy ApeX Omni live order book, just now0.26 bp5.3 bp −$55.3 bp −$5311.2 bp −$1,11740.5 bp −$20.3K
Sell Aevo live order book, just now0.29 bp9.7 bp −$1010.8 bp −$10812.2 bp −$1,221doesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hotstuff BTC-PERP−0.0080%1h85,215+0.058%$8K$3K50xas long as short
Phoenix BTC−0.0034%1h85,189+0.027%$2.3M$10.8M40xas long as short
BloFin BTC-USDT−0.0020%8h85,240.6+0.088%$422.4M$686.2M150xas long as short
KuCoin XBTUSDTM−0.0015%8h85,224.6+0.069%$927.2M$778.1M125xas long as short
01 Exchange BTCUSD0.0000%1h85,250+0.099%$343K$2.3M50xas long as short
Aster BTCUSDT+0.0001%8h85,210.2+0.052%$509.1M$1.08B200xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h85,249+0.097%$36.5M200xas long as short
dYdX BTC-USD+0.0011%1h85,231.4+0.077%$16.7M$21.0M50xas long as short
Kraken Futures PF_XBTUSD+0.0026%1h85,270.1+0.122%$185.8M$955.6M100xas long as short
ApeX Omni BTCUSDTlong+0.0058%1h85,166long leg$139.5M$312.5M100x
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDT+0.0064%8h85,222.9+0.067%$1.58Bas long as short
Injective BTC/USDC PERP+0.0067%1h85,181+0.018%$302K$25.3M52xas long as short
Bybit BTCUSDT+0.0080%8h85,210.1+0.052%$5.10B$10.04B150xas long as short
Nado BTC-PERP+0.0086%1h85,219.1+0.062%$24.0M$220.8M50xas long as short
Lighter BTC+0.0096%1h85,224.5+0.069%$168.3M$1.02B50xas long as short
Lighter RH BTC+0.0096%1h85,226.4+0.071%$23.6M$148.7M50xas long as short
Popdex BTCUSDT+0.0096%1h85,247+0.095%$8.4M$57.7M100xas long as short
Bitget BTCUSDT+0.0096%8h85,214+0.056%$2.97B$5.21B150xas long as short
Aevo BTC-PERPshort+0.0096%1h85,247.9+0.096%$2.4M$6.7M20x
Katana Perps BTC-USD+0.0100%8h85,211+0.053%$269K$8.7M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,256.7+0.106%$5.8M$9.6M50xas long as short
Hyperliquid BTC+0.0100%1h85,303+0.161%$3.75B$5.09B40xas long as short
Pacifica BTC+0.0100%1h85,237.4+0.084%$40.3M$604.7M50xas long as short
Binance BTCUSDT+0.0100%8h85,216.1+0.059%$9.38B$25.16B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,226.4+0.071%$2.60B$12.27B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h85,239+0.086%$3.8M$17.4M25xas long as short
Arcus BTC-USD+0.0100%1h85,246.8+0.095%$4.7M$97.4M40xas long as short
Gate BTC_USDT+0.0100%8h85,226.2+0.071%$5.47B$11.14B200xas long as short
MEXC BTC_USDT+0.0100%8h85,223.6+0.068%$5.03B$5.77B500xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,238.3+0.085%$36.9M$189.0M75xas long as short
Variational Omni BTC+0.0100%8h85,136.5−0.035%$156.2M$549.1Mas long as short
edgeX BTCUSDC+0.0100%4h85,142.9−0.027%$282.3M$957.0M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,165.4−0.001%$213.7M$159.2M50xas long as short
StandX BTC-USD+0.0100%1h85,160.1−0.007%$30.0M$212.2M40xas long as short
Vest BTC-PERP+0.0100%1h85,294.5+0.151%$10.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,244+0.092%$10.9M$15.0M50xas long as short
Bullet BTC-USD+0.0100%1h85,247.1+0.095%$197K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,253+0.102%$2.6M$9.7M100xas long as short
Bluefin BTC-PERP+0.0100%1h85,288.4+0.144%$194K$796K40xas long as short
Derive BTC-PERP+0.0100%1h85,243.7+0.091%$29.3M$45.3M15xas long as short
SunX BTC-USDT+0.0100%8h85,176.7+0.013%$2.9M$6.1M100xas long as short
SoDEX BTC-USD+0.0100%1h85,255+0.105%$59.7M$336.6M40xas long as short
HTX BTC-USDT+0.0100%8h85,250.4+0.099%$2.25B$973.9M200xas long as short
Phemex BTCUSDT+0.0100%8h85,247+0.095%$159.0M$516.2M150xas long as short
Bulk BTC-USD+0.0100%1h85,240+0.087%$693.3M$214.1M40xas long as short
Extended BTC-USD+0.0104%1h85,194+0.033%$45.4M$241.1M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h85,251.7+0.101%$106.7M500xas long as short
Coinbase International BTC-PERP-INTX+0.0104%1h85,291.2+0.147%$111.7M$5.48B50xas long as short
Deribit BTC-PERPETUAL+0.0124%1h85,291.4+0.147%$840.2M$1.67B50xas long as short
Reya BTCRUSDPERP+0.0142%1h85,235.3+0.081%$6.6M$143.2M40xas long as short
Kalshi KXBTCPERP+0.0170%8h85,256+0.106%$12.2M$737.5M6.4xas long as short
RISEx BTC/USDC+0.0174%1h85,258.2+0.108%$8.8M$42.9M25xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0174% / S −0.0146%1h85,246.8+0.095%$13.0M200xas long as short
Hibachi BTC/USDT-P+0.0240%1h85,205.5+0.046%$678K$7.7M30xas long as short
Aftermath Perps BTCUSD+0.0290%1h85,233.1+0.079%$81K$254K20xas long as short
Perpl BTC+0.0447%43m85,237.4+0.084%$459K$18.4M6.7xas long as short