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

APEX

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 23:00 UTC+0.2729%/8h= +298.8% APRpaid last 24h +0.265%
Price spread now: Hyperliquid against BloFin+0.153%107s7-day average · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 7 days+0.672%+$67 on $10k
Price spread, last 7 daysno price history on both exchanges yet
Together, before fees+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$82 a day on $10k at the current rate, and Hyperliquid is 0.153% dearer against BloFin than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 107 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.672% in total (about 35.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBloFin APEX-USDT0.25550.0042pay 0.0021% / 4h1h 51m$93K$2K25x
ShortHyperliquid APEX0.25590.2770get 0.0346% / 1h51m 31s$2.9M$117K3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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
$573.03
Price spread: +0.153% → 0.000%
$15.26
Slippage, 4 orders
no order book: not counted
Fee BloFin: 6 bp × 2 orders
−$12
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$567.29
Costs to cover
0.210%
Break-even
0.1 days
Slippage unknown: BloFin: no order-book sample; Hyperliquid: live order book, 10 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BloFin no order-book sample
Sell Hyperliquid live order book, 10 min ago3.90 bp35.3 bp −$35doesn't fitdoesn't fitdoesn't fit
BloFin: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

APEX on 8 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
BloFin APEX-USDTlong+0.0042%4h0.2555long leg$93K$2K25x
Bybit APEXUSDT+0.0100%4h0.2549−0.235%$3.6M$1.3M25xas long as short
MEXC APEX_USDT+0.0100%4h0.2550−0.196%$600K$249K50xas long as short
BingX APEX-USDT+0.0100%4h0.2551−0.157%$1.3Mas long as short
Variational Omni APEX+0.0100%4h0.2554−0.028%$17K$4Kas long as short
ApeX Omni APEXUSDT+0.0100%1h0.2548−0.274%$136K$471K50xas long as short
Lighter APEX+0.1968%1h0.2560+0.184%$54K$21K5xas long as short
Hyperliquid APEXshort+0.2770%1h0.2559+0.153%$2.9M$117K3x