Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h +0.007%

Price spread now: KuCoin against ApeX Omni−0.499%97s7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$221as 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−$2282.282% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 3 days (all we have)+0.433%+$43 · spread now −0.499%, 7d avg −0.027%

Together, before fees+0.509%+$51 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.472% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.499% now, against its 7-day average of −0.027%). If the spread goes back, that is −$47 on $10k: about 24 days of funding at the current rate (+$2 a day). The two prices were read 97 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	4.6080	0.0034	pay 0.0004% / 1h	47m 48s	$58K	$747K	50x
Short	KuCoin ARUSDTM	4.5850	0.0100	get 0.0100% / 8h	47m 48s	$1.4M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.499%Rate

Funding earned: $13.84
Price spread: −0.499% → −0.027%: −$47.2
Slippage, 4 orders: −$206.18
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$261.53
Costs to cover: 2.282%
Break-even: 139.2 days

Slippage from ApeX Omni: live order book, 31 min ago; KuCoin: live order book, 8 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, 31 min ago	5.51 bp	15.2 bp −$15	130.5 bp −$1,305	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	5.45 bp	93.7 bp −$94	503.9 bp −$5,039	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
Kraken Futures PF_ARUSD	−0.1963%	1h	4.5840	−0.520%	$52K	$163K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.5862	−0.474%	$589K	—	50x	as long as short
OKX AR-USDT-SWAP	+0.0004%	8h	4.5800	−0.608%	$2.4M	$20.9M	20x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	−0.781%	$3K	$339	5.5x	as long as short
ApeX Omni ARUSDTlong	+0.0034%	1h	4.6080	long leg	$58K	$747K	50x
MEXC AR_USDT	+0.0052%	8h	4.5870	−0.456%	$6.8M	$4.4M	100x	as long as short
Binance ARUSDT	+0.0052%	8h	4.5836	−0.529%	$9.1M	$55.8M	75x	as long as short
Extended AR-USD	+0.0056%	1h	4.5841	−0.519%	$37K	$237K	10x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5932	−0.321%	$4.1M	$4.9M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5823	−0.557%	$20K	$611K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ARUSDT	+0.0100%	8h	4.5830	−0.543%	$4.6M	$9.0M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.5840	−0.521%	$2.6M	$2.3M	50x	as long as short
KuCoin ARUSDTMshort	+0.0100%	8h	4.5850	−0.499%	$1.4M	$1.2M	50x
Bitget ARUSDT	+0.0100%	8h	4.5870	−0.456%	$3.9M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5820	−0.564%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.6024	−0.121%	$139K	$172K	—	as long as short
BloFin AR-USDT	+0.0172%	8h	4.5830	−0.543%	$430K	$675K	20x	as long as short