Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: Bitget against ApeX Omni−0.132%93s7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as 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−$810.807% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)−0.264%−$26 · spread now −0.132%, 7d avg −0.079%

Together, before fees−0.206%−$21 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: Bitget is 0.053% cheaper against ApeX Omni than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.079%. The two prices were read 93 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	4.5530	0.0100	pay 0.0013% / 1h	17m 59s	$20K	$724K	50x
Short	Bitget ARUSDT	4.5470	0.0100	get 0.0100% / 8h	5h 17m	$4.0M	$5.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.132%Rate

Funding earned: $0
Price spread: −0.132% → −0.079%: −$5.29
Slippage, 4 orders: −$58.65
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$85.95
Costs to cover: 0.807%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 46 min ago; Bitget: live order book, 5 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, 46 min ago	7.70 bp	15.6 bp −$16	128.9 bp −$1,289	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	3.30 bp	23.1 bp −$23	93.3 bp −$933	doesn't fit	doesn't fit

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
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5451	−0.173%	$584K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0052%	8h	4.5470	−0.132%	$2.3M	$18.6M	20x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5290	−0.527%	$548	$3K	5.5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5430	−0.219%	$19K	$492K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.5490	−0.088%	$9.1M	$50.8M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5464	−0.145%	$4.7M	$8.3M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.5440	−0.198%	$2.6M	$2.0M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.5510	−0.044%	$6.5M	$4.3M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5450	−0.176%	$1.2M	$1.2M	50x	as long as short
Bitget ARUSDTshort	+0.0100%	8h	4.5470	−0.132%	$4.0M	$5.2M	75x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AR-USDT	+0.0100%	8h	4.5450	−0.176%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5477	−0.117%	$236K	$255K	—	as long as short
ApeX Omni ARUSDTlong	+0.0100%	1h	4.5530	long leg	$20K	$724K	50x
Extended AR-USD	+0.0104%	1h	4.5477	−0.115%	$38K	$235K	10x	as long as short
Hyperliquid AR	+0.0130%	1h	4.5530	0.000%	$4.1M	$4.5M	5x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.5490	−0.088%	$431K	$495K	20x	as long as short
Kraken Futures PF_ARUSD	+0.1920%	1h	4.5534	+0.010%	$56K	$149K	20x	as long as short