Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h +0.006%

Price spread now: MEXC against ApeX Omni−0.096%51s7-day average −0.008% · 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—prices read too far apart to compare

costs, in and out, $10k−$160.157% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 7 days+0.108%+$11 · spread now −0.096%, 7d avg −0.008%

Together, before fees+0.085%+$9 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 MEXC is 0.088% cheaper against ApeX Omni than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.008%). Swap the legs. The two prices were read 51 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	86,194.2	0.0100	pay 0.0013% / 1h	4m 37s	$141.1M	$320.0M	100x
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 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 MEXCbpOrdersPrice spread, now −0.096%Rate

Funding earned: −$3.57
Price spread: −0.096% → −0.008%: −$8.76
Slippage, 4 orders: −$1.72
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$28.04
Costs to cover: 0.157%
Break-even: never at this rate

Slippage from ApeX Omni: 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 ApeX Omni live order book, 5 min ago	0.85 bp	5.9 bp −$6	5.9 bp −$59	10.2 bp −$1,023	39.0 bp −$19.5K
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	+0.024%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,129	−0.076%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	86,111.1	−0.096%	$363K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	86,110	−0.098%	$580K	$21.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,098.5	−0.111%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,365	+0.198%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0023%	1h	86,108.9	−0.099%	$16.9M	$20.5M	50x	as long as short
Aster BTCUSDT	+0.0031%	8h	86,109.3	−0.099%	$499.3M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0044%	8h	86,126.9	−0.078%	$827.8M	$715.8M	125x	as long as short
Reya BTCRUSDPERP	+0.0050%	1h	86,069.7	−0.145%	$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	−0.083%	$8.2M	$42.4M	25x	as long as short
BingX BTC-USDC	+0.0053%	8h	86,104.9	−0.104%	—	$15.3M	—	as long as short
HTX BTC-USDT	+0.0059%	8h	86,059	−0.157%	$2.28B	$957.9M	200x	as long as short
Bitget BTCUSDT	+0.0066%	8h	86,112.1	−0.095%	$2.96B	$5.06B	150x	as long as short
SoDEX BTC-USD	+0.0070%	1h	86,076	−0.137%	$60.3M	$338.3M	40x	as long as short
Bluefin BTC-PERP	+0.0076%	1h	86,106.8	−0.101%	$144K	$666K	40x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,066.4	−0.148%	$2.5M	$1.8M	20x	as long as short
Binance BTCUSDT	+0.0083%	8h	86,111.5	−0.096%	$9.37B	$24.27B	150x	as long as short
MEXC BTC_USDTshort	+0.0083%	8h	86,111.5	−0.096%	$5.11B	$5.77B	500x
Phemex BTCUSDT	+0.0086%	8h	86,070	−0.144%	$155.3M	$473.4M	150x	as long as short
Gate BTC_USDT	+0.0095%	8h	86,117.4	−0.089%	$5.77B	$10.67B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,133	−0.071%	$169.5M	$996.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,146.4	−0.055%	$23.5M	$152.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,113	−0.094%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,091	−0.120%	$201K	$7.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,165	−0.034%	$4.2M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,081.5	−0.131%	$22.0M	$225.2M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,176	−0.021%	$3.77B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,156.6	−0.044%	$40.8M	$560.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,122.6	−0.083%	$5.24B	$9.65B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,125.2	−0.080%	$2.56B	$12.41B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,120	−0.086%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,134.1	−0.070%	$7.3M	$95.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,059.9	−0.156%	$35.4M	$161.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,079.3	−0.133%	$156.4M	$555.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,114.1	−0.093%	$278.1M	$940.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,175.4	−0.022%	$216.3M	$165.4M	50x	as long as short
ApeX Omni BTCUSDTlong	+0.0100%	1h	86,194.2	long leg	$141.1M	$320.0M	100x
StandX BTC-USD	+0.0100%	1h	86,117.1	−0.089%	$30.6M	$207.0M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,127.1	−0.078%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,080	−0.133%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,077.8	−0.135%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,073.4	−0.140%	$2.4M	$9.1M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,090.9	−0.120%	$30.2M	$57.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,055.4	−0.161%	$3.3M	$5.4M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,141.5	−0.061%	$581.0M	$76.4M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,088	−0.123%	$46.0M	$222.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,105	−0.104%	—	$99.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,103.7	−0.105%	$132.4M	$5.27B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,108	−0.100%	$190.3M	$953.6M	100x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	86,112.1	−0.095%	$725K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0169%	1h	86,188	−0.007%	$77K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0203%	8h	86,079.9	−0.133%	$415.6M	$640.3M	150x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	86,107	−0.101%	$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	−0.115%	$14.5M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0211%	1h	86,131.9	−0.072%	$902.8M	$1.51B	50x	as long as short