Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h −0.005%

Price spread now: Bitget against ApeX Omni−0.082%93s7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$230.233% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 7 days+0.092%+$9 · spread now −0.082%, 7d avg −0.009%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.073% cheaper against ApeX Omni than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.009%). Swap the legs. The two prices were read 93 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni BTCUSDT	85,670.8	0.0100	pay 0.0013% / 1h	50m 02s	$140.1M	$315.7M	100x
Short	Bitget BTCUSDT	85,600.7	0.0081	get 0.0081% / 8h	3h 50m	$2.96B	$5.10B	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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

Position, each leg$Hold fordaysFee ApeX OmnibpFee BitgetbpOrdersPrice spread, now −0.082%Rate

Funding earned: −$3.99
Price spread: −0.082% → −0.009%: −$7.28
Slippage, 4 orders: −$1.32
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$34.59
Costs to cover: 0.233%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 4 min ago; Bitget: 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 ApeX Omni live order book, 4 min ago	0.65 bp	5.7 bp −$6	5.7 bp −$57	8.3 bp −$833	41.7 bp −$20.8K
Sell Bitget live order book, 4 min ago	0.01 bp	6.0 bp −$6	6.2 bp −$62	7.0 bp −$701	doesn't fit

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	85,690	+0.022%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,637	−0.039%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0037%	8h	85,596.4	−0.087%	$917.1M	$756.1M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,606.8	−0.075%	$417.7M	$675.3M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,605.5	−0.076%	$366K	$2.3M	50x	as long as short
Nado BTC-PERP	0.0000%	1h	85,586.9	−0.098%	$24.8M	$222.7M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,625.7	−0.053%	$16.8M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,607.8	−0.074%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0012%	8h	85,592.5	−0.091%	$515.5M	$1.10B	200x	as long as short
Deribit BTC-PERPETUAL	+0.0031%	1h	85,627	−0.051%	$884.7M	$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	+0.022%	$340K	$26.9M	52x	as long as short
BingX BTC-USDC	+0.0063%	8h	85,593.9	−0.090%	—	$17.2M	—	as long as short
Phemex BTCUSDT	+0.0071%	8h	85,605	−0.077%	$148.7M	$490.5M	150x	as long as short
SoDEX BTC-USD	+0.0078%	1h	85,593	−0.091%	$60.0M	$336.0M	40x	as long as short
Bitget BTCUSDTshort	+0.0081%	8h	85,600.7	−0.082%	$2.96B	$5.10B	150x
Reya BTCRUSDPERP	+0.0091%	1h	85,592.6	−0.091%	$6.6M	$146.9M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,619.8	−0.060%	$172.1M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,611.6	−0.069%	$23.9M	$147.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,594	−0.090%	$8.7M	$54.2M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,583.9	−0.101%	$2.5M	$1.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,567	−0.121%	$201K	$8.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,673.6	+0.003%	$5.6M	$9.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,631.7	−0.046%	$40.5M	$582.0M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,601.3	−0.081%	$9.41B	$24.31B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,596.6	−0.087%	$5.19B	$9.84B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,605.3	−0.076%	$2.59B	$12.16B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,586	−0.099%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,588.7	−0.096%	$4.4M	$98.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,613.1	−0.067%	$5.54B	$10.76B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,600.9	−0.082%	$5.07B	$5.63B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,592.2	−0.092%	$35.9M	$176.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,614	−0.066%	$153.6M	$564.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,619.2	−0.060%	$279.6M	$925.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,677.6	+0.008%	$215.0M	$168.4M	50x	as long as short
ApeX Omni BTCUSDTlong	+0.0100%	1h	85,670.8	long leg	$140.1M	$315.7M	100x
StandX BTC-USD	+0.0100%	1h	85,680	+0.011%	$30.3M	$208.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,661.3	−0.011%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,598	−0.085%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,596	−0.087%	$196K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,589	−0.095%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,641.1	−0.035%	$207K	$739K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,586.5	−0.098%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,578.7	−0.108%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,594.7	−0.089%	$2.27B	$946.4M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,665.1	−0.007%	$677.0M	$718.2M	40x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,689	+0.021%	$3.79B	$5.01B	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,573.5	−0.114%	$44.8M	$231.4M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,612.1	−0.069%	—	$107.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,625	−0.053%	$117.2M	$5.22B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,613.5	−0.067%	$188.1M	$956.6M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,631.1	−0.046%	$8.9M	$42.8M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0201% / S −0.0177%	1h	85,604	−0.078%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0231%	8h	85,631	−0.046%	$12.0M	$757.2M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0232%	1h	85,639.7	−0.036%	$79K	$220K	20x	as long as short
Hibachi BTC/USDT-P	+0.0256%	1h	85,664	−0.008%	$701K	$7.9M	30x	as long as short
Perpl BTC	+0.0335%	43m	85,608.3	−0.073%	$505K	$18.8M	6.7x	as long as short