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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.009%
Price spread now: Popdex against ApeX Omni+0.064%7-day average −0.004% · 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−$11as in the Price arb table
costs, in and out, $10k−$180.180% of the position
Long on ApeX OmniShort on Popdex
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.015%+$1 on $10k
Price spread, last 7 days−0.050%−$5 · spread now +0.064%, 7d avg −0.004%
Together, before fees−0.035%−$4 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.068% dearer against ApeX Omni than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.004%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni BTCUSDT86,285.80.0100pay 0.0013% / 1h5m 22s$141.1M$323.8M100x
ShortPopdex BTCUSDT86,3410.0096get 0.0012% / 1h5m 22s$8.4M$52.4M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Popdex 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
−$0.84
Price spread: +0.064% → −0.004%
$6.83
Slippage, 4 orders
−$1.56
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Net
−$11.97
Costs to cover
0.180%
Break-even
never at this rate
Slippage from ApeX Omni: live order book, 4 min ago; Popdex: live order book, 4 min ago.

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, 4 min ago0.05 bp5.1 bp −$55.1 bp −$518.7 bp −$87236.1 bp −$18.1K
Sell Popdex live order book, 4 min ago0.06 bp3.5 bp −$33.5 bp −$353.7 bp −$3725.0 bp −$2,518

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
Bluefin BTC-PERP−0.0520%1h86,389.6+0.120%$140K$663K40xas long as short
Phoenix BTC−0.0159%1h86,349+0.073%$2.2M$11.8M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,323+0.043%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0016%1h86,341.1+0.064%$357K$2.5M50xas long as short
Aster BTCUSDT−0.0010%8h86,339.4+0.062%$502.9M$1.15B200xas long as short
KuCoin XBTUSDTM+0.0004%8h86,338+0.060%$849.0M$713.7M125xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,360.5+0.087%$36.8M—200xas long as short
RISEx BTC/USDC+0.0006%1h86,337.9+0.060%$8.4M$42.8M25xas long as short
dYdX BTC-USD+0.0008%1h86,352+0.077%$16.9M$21.1M50xas long as short
Deribit BTC-PERPETUAL+0.0021%1h86,387.8+0.118%$917.4M$1.49B50xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0023%1h86,342.9+0.066%$6.7M$145.1M40xas long as short
Injective BTC/USDC PERP+0.0024%1h86,360+0.086%$332K$26.8M52xas long as short
BingX BTC-USDC+0.0037%8h86,334+0.056%—$15.4M—as long as short
Phemex BTCUSDT+0.0042%8h86,356.6+0.082%$149.9M$477.1M150xas long as short
Bitget BTCUSDT+0.0048%8h86,349.6+0.074%$2.95B$5.11B150xas long as short
MEXC BTC_USDT+0.0064%8h86,351.7+0.076%$5.13B$5.72B500xas long as short
Aevo BTC-PERP+0.0064%1h86,346.9+0.071%$2.4M$1.3M20xas long as short
Aftermath Perps BTCUSD+0.0064%1h86,382.9+0.113%$80K$219K20xas long as short
Binance BTCUSDT+0.0065%8h86,347.2+0.071%$9.41B$24.48B150xas long as short
Gate BTC_USDT+0.0080%8h86,331.1+0.052%$5.84B$10.78B200xas long as short
Lighter BTC+0.0096%1h86,334.5+0.056%$169.9M$1.02B50xas long as short
Lighter RH BTC+0.0096%1h86,346.7+0.071%$24.0M$152.9M50xas long as short
Popdex BTCUSDTshort+0.0096%1h86,341+0.064%$8.4M$52.4M100x
Bybit BTCUSDT+0.0096%8h86,346.8+0.071%$5.25B$9.80B150xas long as short
Katana Perps BTC-USD+0.0100%8h86,304+0.021%$205K$6.9M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,365.2+0.092%$4.8M$8.5M50xas long as short
Nado BTC-PERP+0.0100%1h86,322.4+0.042%$21.7M$234.6M50xas long as short
Hyperliquid BTC+0.0100%1h86,415+0.150%$3.79B$5.10B40xas long as short
Pacifica BTC+0.0100%1h86,356.8+0.082%$40.7M$517.9M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,351.8+0.076%$2.54B$12.69B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,333+0.055%$3.9M$18.6M25xas long as short
Arcus BTC-USD+0.0100%1h86,379.7+0.109%$7.8M$94.5M40xas long as short
Bulk BTC-USD+0.0100%1h86,320.9+0.041%$570.7M$18.4M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,345.3+0.069%$37.8M$154.7M75xas long as short
Variational Omni BTC+0.0100%8h86,316.3+0.035%$155.5M$568.1M—as long as short
edgeX BTCUSDC+0.0100%4h86,273.7−0.014%$278.9M$945.3M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,335.7+0.058%$216.9M$174.8M50xas long as short
ApeX Omni BTCUSDTlong+0.0100%1h86,285.8long leg$141.1M$323.8M100x
StandX BTC-USD+0.0100%1h86,324.9+0.045%$30.6M$204.1M40xas long as short
Vest BTC-PERP+0.0100%1h86,385.8+0.116%—$11.7M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,345+0.069%$11.1M$13.8M50xas long as short
Bullet BTC-USD+0.0100%1h86,347.2+0.071%$191K$3.4M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,358.2+0.084%$2.4M$8.7M100xas long as short
Derive BTC-PERP+0.0100%1h86,381+0.110%$30.6M$62.2M15xas long as short
SunX BTC-USDT+0.0100%8h86,332.5+0.054%$3.4M$5.4M100xas long as short
SoDEX BTC-USD+0.0100%1h86,355+0.080%$60.4M$337.3M40xas long as short
HTX BTC-USDT+0.0100%8h86,355.8+0.081%$2.29B$968.8M200xas long as short
Extended BTC-USD+0.0104%1h86,316.6+0.036%$45.6M$226.4M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,353+0.078%—$98.9M500xas long as short
Perpl BTC+0.0112%43m86,343.1+0.066%$418K$23.5M6.7xas long as short
Coinbase International BTC-PERP-INTX+0.0112%1h86,394.9+0.126%$131.8M$5.68B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,375.2+0.104%$191.9M$946.7M100xas long as short
Hibachi BTC/USDT-P+0.0136%1h86,334+0.056%$719K$8.1M30xas long as short
BloFin BTC-USDT+0.0184%8h86,325.3+0.046%$414.6M$653.5M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0188% / S −0.0211%1h86,354.3+0.079%$15.1M—200xas long as short
Kalshi KXBTCPERP+0.0199%8h86,381+0.110%$9.5M$736.0M6.4xas long as short