Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.015%

Price spread now: Aftermath Perps against MEXC+0.022%7-day average +0.030% · 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−$24as in the Price arb table

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

Long on MEXC Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.049%+$5 on $10k

Price spread, last 4 days (all we have)+0.225%+$22 · spread now +0.022%, 7d avg +0.030%

Together, before fees+0.274%+$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.030%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BTC_USDT	85,790.2	0.0087	pay 0.0087% / 8h	5h 09m	$5.08B	$5.65B	500x
Short	Aftermath Perps BTCUSD	85,809.3	0.0203	get 0.0025% / 1h	9m 59s	$78K	$219K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against MEXC. 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 MEXCbpFee Aftermath PerpsbpOrdersPrice spread, now +0.022%Rate

Funding earned: $24.43
Price spread: +0.022% → +0.030%: −$0.77
Slippage, 4 orders: −$10.3
Fee MEXC: 2 bp × 2 orders: −$4
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: $0.36
Costs to cover: 0.233%
Break-even: 6.9 days

Slippage from MEXC: live order book, 4 min ago; Aftermath Perps: live order book, 54 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 MEXC live order book, 4 min ago	0.01 bp	2.0 bp −$2	2.0 bp −$20	2.1 bp −$210	2.5 bp −$1,233
Sell Aftermath Perps live order book, 54 min ago	1.00 bp	9.9 bp −$10	doesn't fit	doesn't fit	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
Bluefin BTC-PERP	−0.0589%	1h	85,861.4	+0.083%	$197K	$721K	40x	as long as short
Phoenix BTC	−0.0160%	1h	85,728	−0.073%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,856	+0.077%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,840.2	+0.058%	$369K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0033%	8h	85,822.6	+0.038%	$418.0M	$666.5M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,840.8	+0.059%	$16.8M	$21.2M	50x	as long as short
KuCoin XBTUSDTM	+0.0004%	8h	85,817.8	+0.032%	$920.3M	$751.5M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,832.4	+0.049%	$36.7M	—	200x	as long as short
Nado BTC-PERP	+0.0012%	1h	85,842.5	+0.061%	$22.7M	$219.5M	50x	as long as short
Aster BTCUSDT	+0.0020%	8h	85,812.2	+0.026%	$517.0M	$1.10B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0057%	8h	85,836.4	+0.054%	—	$1.53B	—	as long as short
Bitget BTCUSDT	+0.0072%	8h	85,796.3	+0.007%	$2.96B	$5.01B	150x	as long as short
Phemex BTCUSDT	+0.0073%	8h	85,835.7	+0.053%	$149.3M	$479.8M	150x	as long as short
Reya BTCRUSDPERP	+0.0073%	1h	85,817.5	+0.032%	$6.7M	$146.5M	40x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,807	+0.020%	$341K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,821.8	+0.037%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDTlong	+0.0087%	8h	85,790.2	long leg	$5.08B	$5.65B	500x
Binance BTCUSDT	+0.0087%	8h	85,820.9	+0.036%	$9.36B	$23.88B	150x	as long as short
HTX BTC-USDT	+0.0093%	8h	85,833.6	+0.051%	$2.27B	$936.0M	200x	as long as short
SoDEX BTC-USD	+0.0096%	1h	85,830	+0.046%	$60.1M	$336.2M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,842.2	+0.061%	$174.8M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,846	+0.065%	$24.0M	$149.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,842	+0.060%	$8.4M	$52.2M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,882.4	+0.107%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,814	+0.028%	$198K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,909	+0.138%	$3.75B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,872.8	+0.096%	$40.2M	$577.3M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,828	+0.044%	$5.34B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,829.3	+0.046%	$2.58B	$12.13B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,827	+0.043%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,817.6	+0.032%	$6.8M	$97.5M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,800.8	+0.012%	$635.6M	$478.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,834	+0.051%	$5.56B	$10.56B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,820.6	+0.035%	$35.3M	$172.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,777.2	−0.015%	$157.4M	$555.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,749.7	−0.047%	$280.1M	$916.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,776.3	−0.016%	$215.4M	$165.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,774.1	−0.019%	$140.3M	$314.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,793.6	+0.004%	$30.3M	$208.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,874.5	+0.098%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,832	+0.049%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,830.5	+0.047%	$193K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,815.5	+0.029%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,819.1	+0.034%	$30.1M	$50.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,819.1	+0.034%	$2.9M	$6.1M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	85,768	−0.026%	$44.3M	$226.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,853.5	+0.074%	—	$105.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,868	+0.091%	$125.9M	$5.11B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,869.5	+0.092%	$8.4M	$42.2M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,865.1	+0.087%	$189.5M	$952.9M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0172%	1h	85,879.4	+0.104%	$891.4M	$1.53B	50x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	85,840.9	+0.059%	$704K	$7.8M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0178%	1h	85,831.6	+0.048%	$13.6M	—	200x	as long as short
Aftermath Perps BTCUSDshort	+0.0203%	1h	85,809.3	+0.022%	$78K	$219K	20x
Kalshi KXBTCPERP	+0.0219%	8h	85,866	+0.088%	$10.7M	$758.3M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,848.1	+0.067%	$503K	$19.3M	6.7x	as long as short