Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.007%

Price spread now: MEXC against SunX−0.052%53s7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as 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−$130.133% of the position

Long on SunX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 4 days (all we have)+0.153%+$15 · spread now −0.052%, 7d avg +0.008%

Together, before fees+0.146%+$15 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: MEXC is 0.060% cheaper against SunX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.008%. The two prices were read 53 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	SunX BTC-USDT	85,422.2	0.0100	pay 0.0100% / 8h	7h 30m	$3.0M	$6.7M	100x
Short	MEXC BTC_USDT	85,377.9	0.0100	get 0.0100% / 8h	7h 30m	$5.05B	$5.75B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against SunX. 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 SunXbpFee MEXCbpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → +0.008%: −$5.98
Slippage, 4 orders: −$1.33
Fee SunX: 4 bp × 2 orders: −$8
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$19.31
Costs to cover: 0.133%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; MEXC: 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 SunX live order book, 8 min ago	0.15 bp	4.1 bp −$4	4.7 bp −$47	6.7 bp −$669	8.9 bp −$4,467
Sell MEXC live order book, 4 min ago	0.02 bp	2.0 bp −$2	2.0 bp −$20	2.1 bp −$208	2.8 bp −$1,394

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	−0.1233%	1h	85,423.3	+0.001%	$194K	$796K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,391	−0.037%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,401.4	−0.024%	$422.4M	$674.9M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,438	+0.018%	$307K	$25.3M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,406	−0.019%	$351K	$2.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,412.6	−0.011%	$36.5M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0017%	8h	85,398.2	−0.028%	$936.5M	$770.3M	125x	as long as short
Aster BTCUSDT	+0.0033%	8h	85,373.7	−0.057%	$502.7M	$1.08B	200x	as long as short
dYdX BTC-USD	+0.0054%	1h	85,425.5	+0.004%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,418.5	−0.004%	$185.6M	$935.7M	100x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,542	+0.140%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDC	+0.0080%	8h	85,370.4	−0.061%	—	$17.4M	—	as long as short
Lighter BTC	+0.0096%	1h	85,405.5	−0.020%	$170.7M	$945.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,403.5	−0.022%	$23.5M	$134.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,393	−0.034%	$8.7M	$58.0M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,395.4	−0.031%	$2.4M	$6.7M	20x	as long as short
Nado BTC-PERP	+0.0097%	1h	85,389.7	−0.038%	$24.0M	$215.5M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,378	−0.052%	$265K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,433.5	+0.013%	$5.7M	$9.3M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,427.2	+0.006%	$40.5M	$604.9M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,383.4	−0.045%	$9.39B	$24.89B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,384.7	−0.044%	$5.09B	$9.88B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,385.2	−0.043%	$2.61B	$12.03B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,395	−0.032%	$3.9M	$17.2M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,408.2	−0.016%	$5.0M	$97.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,499.9	+0.091%	$701.6M	$160.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,393.8	−0.033%	$5.50B	$9.92B	200x	as long as short
MEXC BTC_USDTshort	+0.0100%	8h	85,377.9	−0.052%	$5.05B	$5.75B	500x
Bitget BTCUSDT	+0.0100%	8h	85,378.3	−0.051%	$2.97B	$5.10B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,396.1	−0.031%	$37.6M	$193.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,397.1	−0.029%	$156.0M	$540.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,437.2	+0.018%	$285.6M	$965.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,507.3	+0.100%	$214.8M	$155.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,439.8	+0.021%	$136.7M	$312.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,440	+0.021%	$30.1M	$218.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,470.1	+0.056%	—	$10.0M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,230	−0.225%	$10.9M	$14.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,397.9	−0.028%	$219K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,385.4	−0.043%	$2.7M	$9.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,466.1	+0.051%	$28.8M	$52.4M	15x	as long as short
SunX BTC-USDTlong	+0.0100%	8h	85,422.2	long leg	$3.0M	$6.7M	100x
SoDEX BTC-USD	+0.0100%	1h	85,399	−0.027%	$59.8M	$336.4M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,403.4	−0.022%	$2.26B	$970.4M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,415.4	−0.008%	$163.3M	$513.8M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,367.4	−0.064%	$45.9M	$239.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,411.8	−0.012%	—	$106.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,444	+0.026%	$111.9M	$5.41B	50x	as long as short
Reya BTCRUSDPERP	+0.0149%	1h	85,398.4	−0.028%	$6.6M	$137.4M	40x	as long as short
Hyperliquid BTC	+0.0159%	1h	85,469	+0.055%	$3.83B	$5.14B	40x	as long as short
Deribit BTC-PERPETUAL	+0.0170%	1h	85,447.9	+0.030%	$829.3M	$1.65B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0149%	1h	85,413	−0.011%	$13.0M	—	200x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,421.6	−0.001%	$8.9M	$42.3M	25x	as long as short
Kalshi KXBTCPERP	+0.0194%	8h	85,447	+0.029%	$10.7M	$736.5M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0331%	1h	85,465.4	+0.051%	$81K	$260K	20x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	85,451	+0.034%	$688K	$7.6M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,433	+0.013%	$459K	$18.1M	6.7x	as long as short