Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0036%/8h= +4.0% APRpaid last 24h +0.007%

Price spread now: BingX against ApeX Omni−0.194%68s7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as 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−$680.676% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 3 days (all we have)+0.101%+$10 · spread now −0.194%, 7d avg −0.037%

Together, before fees+0.131%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.158% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.194% now, against its 7-day average of −0.037%). If the spread goes back, that is −$16 on $10k: about 14 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.030% in total) that is about 37 days. The two prices were read 68 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	ApeX Omni ARUSDT	4.6300	0.0064	pay 0.0008% / 1h	8m 15s	$23K	$764K	50x
Short	BingX AR-USDT	4.6210	0.0100	get 0.0100% / 8h	8m 15s	—	$2.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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

Position, each leg$Hold fordaysFee ApeX OmnibpFee BingXbpOrdersPrice spread, now −0.194%Rate

Funding earned: $7.66
Price spread: −0.194% → −0.037%: −$15.78
Slippage, 4 orders: −$47.64
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$75.76
Costs to cover: 0.676%
Break-even: 76.2 days

Slippage from ApeX Omni: live order book, 6 min ago; BingX: live order book, 1 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 ApeX Omni live order book, 6 min ago	6.49 bp	13.5 bp −$14	117.6 bp −$1,176	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	4.33 bp	19.4 bp −$19	38.3 bp −$383	301.3 bp −$30.1K	729.8 bp −$364.9K

AR on 17 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
Kraken Futures PF_ARUSD	−0.1948%	1h	4.6209	−0.197%	$52K	$163K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.6256	−0.096%	$594K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0079%	8h	4.6150	−0.324%	$2.4M	$21.1M	20x	as long as short
Binance ARUSDT	+0.0007%	8h	4.6220	−0.173%	$9.3M	$55.6M	75x	as long as short
Extended AR-USD	+0.0008%	1h	4.6211	−0.193%	$38K	$237K	10x	as long as short
MEXC AR_USDT	+0.0008%	8h	4.6230	−0.151%	$6.7M	$4.5M	100x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	−1.253%	$3K	$339	5.5x	as long as short
BloFin AR-USDT	+0.0033%	8h	4.6270	−0.065%	$441K	$682K	20x	as long as short
ApeX Omni ARUSDTlong	+0.0064%	1h	4.6300	long leg	$23K	$764K	50x
Hyperliquid AR	+0.0100%	1h	4.6312	+0.026%	$4.3M	$4.9M	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ARUSDT	+0.0100%	8h	4.6286	−0.031%	$20K	$606K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.6187	−0.244%	$4.6M	$8.8M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.6260	−0.086%	$2.6M	$2.3M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.6230	−0.151%	$1.5M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.6200	−0.216%	$4.0M	$5.7M	75x	as long as short
BingX AR-USDTshort	+0.0100%	8h	4.6210	−0.194%	—	$2.9M	—
Variational Omni AR	+0.0100%	8h	4.6108	−0.414%	$143K	$176K	—	as long as short