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

BTC

all BTC markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 07:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h +0.008%
Price spread now: ApeX Omni against BingX+0.080%7-day average +0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$210.208% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.057%+$6 on $10k
Price spread, last 7 days−0.084%−$8 · spread now +0.080%, 7d avg +0.008%
Together, before fees−0.027%−$3 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 ApeX Omni is 0.072% dearer against BingX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.008%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX BTC-USDT85,365.70.0074pay 0.0074% / 8h1h 03m$1.57B
ShortApeX Omni BTCUSDT85,433.90.0100get 0.0013% / 1h3m 03s$139.7M$313.2M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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
$5.46
Price spread: +0.080% → +0.008%
$7.2
Slippage, 4 orders
−$0.76
Fee BingX: 5 bp × 2 orders
−$10
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
−$8.11
Costs to cover
0.208%
Break-even
17.4 days
Slippage from BingX: live order book, 6 min ago; ApeX Omni: live order book, 1 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 BingX live order book, 6 min ago0.01 bp5.0 bp −$55.0 bp −$505.2 bp −$5195.5 bp −$2,741
Sell ApeX Omni live order book, 1 min ago0.36 bp5.4 bp −$55.4 bp −$5411.7 bp −$1,16937.4 bp −$18.7K

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
Phoenix BTC−0.0082%1h85,520+0.181%$2.3M$10.4M40xas long as short
Hotstuff BTC-PERP−0.0080%1h85,392+0.031%$8K$3K50xas long as short
KuCoin XBTUSDTM−0.0032%8h85,377.2+0.013%$928.5M$772.9M125xas long as short
BloFin BTC-USDT−0.0023%8h85,381.7+0.019%$421.4M$680.9M150xas long as short
Aster BTCUSDT−0.0004%8h85,355−0.013%$512.3M$1.09B200xas long as short
01 Exchange BTCUSD0.0000%1h85,411.1+0.053%$352K$2.4M50xas long as short
Perpl BTC0.0000%43m85,421.5+0.065%$492K$18.3M6.7xas long as short
dYdX BTC-USD+0.0001%1h85,430.1+0.075%$16.7M$21.0M50xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h85,418.4+0.062%$36.5M200xas long as short
Nado BTC-PERP+0.0047%1h85,400.1+0.040%$24.1M$219.7M50xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective BTC/USDC PERP+0.0057%1h85,420+0.064%$339K$26.8M52xas long as short
BingX BTC-USDTlong+0.0074%8h85,365.7long leg$1.57B
Kraken Futures PF_XBTUSD+0.0089%1h85,394.2+0.033%$186.0M$951.7M100xas long as short
Bitget BTCUSDT+0.0091%8h85,342.8−0.027%$2.96B$5.15B150xas long as short
Bybit BTCUSDT+0.0092%8h85,338.3−0.032%$5.13B$9.97B150xas long as short
SoDEX BTC-USD+0.0092%1h85,375+0.011%$59.7M$336.6M40xas long as short
Lighter BTC+0.0096%1h85,392.6+0.032%$169.6M$1.03B50xas long as short
Lighter RH BTC+0.0096%1h85,392.6+0.032%$23.6M$149.0M50xas long as short
Popdex BTCUSDT+0.0096%1h85,414+0.057%$8.4M$57.2M100xas long as short
Aevo BTC-PERP+0.0096%1h85,374.9+0.011%$2.4M$6.7M20xas long as short
MEXC BTC_USDT+0.0097%8h85,375.1+0.011%$5.04B$5.78B500xas long as short
Binance BTCUSDT+0.0097%8h85,352.7−0.015%$9.42B$24.87B150xas long as short
Katana Perps BTC-USD+0.0100%8h85,382+0.019%$245K$8.6M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h85,442.8+0.090%$5.8M$9.6M50xas long as short
Hyperliquid BTC+0.0100%1h85,444+0.092%$3.75B$5.06B40xas long as short
Pacifica BTC+0.0100%1h85,432.1+0.078%$40.4M$603.0M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h85,352.2−0.016%$2.60B$12.18B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h85,384+0.021%$3.8M$17.1M25xas long as short
Arcus BTC-USD+0.0100%1h85,395.4+0.035%$5.1M$96.0M40xas long as short
Gate BTC_USDT+0.0100%8h85,378.9+0.015%$5.55B$11.09B200xas long as short
Backpack BTC_USDC_PERP+0.0100%1h85,351.7−0.016%$37.4M$182.7M75xas long as short
Variational Omni BTC+0.0100%8h85,432.9+0.079%$156.6M$557.5Mas long as short
edgeX BTCUSDC+0.0100%4h85,433.6+0.079%$279.9M$953.7M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h85,439+0.086%$214.5M$163.3M50xas long as short
ApeX Omni BTCUSDTshort+0.0100%1h85,433.9+0.080%$139.7M$313.2M100x
StandX BTC-USD+0.0100%1h85,401.3+0.042%$30.1M$207.3M40xas long as short
Vest BTC-PERP+0.0100%1h85,437+0.084%$9.9M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h85,384+0.021%$11.0M$14.6M50xas long as short
Bullet BTC-USD+0.0100%1h85,366.7+0.001%$198K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h85,379.2+0.016%$2.6M$9.8M100xas long as short
Bluefin BTC-PERP+0.0100%1h85,403+0.044%$194K$795K40xas long as short
Derive BTC-PERP+0.0100%1h85,383.8+0.021%$30.0M$46.1M15xas long as short
SunX BTC-USDT+0.0100%8h85,385.9+0.024%$2.9M$6.1M100xas long as short
HTX BTC-USDT+0.0100%8h85,363.7−0.002%$2.26B$963.1M200xas long as short
Phemex BTCUSDT+0.0100%8h85,391.8+0.031%$157.4M$512.2M150xas long as short
Bulk BTC-USD+0.0100%1h85,413.1+0.056%$689.0M$342.5M40xas long as short
Extended BTC-USD+0.0104%1h85,318.5−0.055%$45.3M$240.1M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h85,410.9+0.053%$104.3M500xas long as short
Coinbase International BTC-PERP-INTX+0.0104%1h85,419.8+0.063%$112.9M$5.48B50xas long as short
Deribit BTC-PERPETUAL+0.0113%1h85,421+0.065%$852.7M$1.64B50xas long as short
Reya BTCRUSDPERP+0.0134%1h85,360.1−0.007%$6.6M$147.7M40xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0175% / S −0.0148%1h85,372.4+0.008%$13.0M200xas long as short
Kalshi KXBTCPERP+0.0177%8h85,403+0.044%$11.9M$739.1M6.4xas long as short
RISEx BTC/USDC+0.0193%1h85,427.1+0.072%$8.8M$42.7M25xas long as short
Hibachi BTC/USDT-P+0.0208%1h85,443.3+0.091%$685K$7.8M30xas long as short
Aftermath Perps BTCUSD+0.0271%1h85,444.3+0.092%$79K$246K20xas long as short