Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.012%

Price spread now: ApeX Omni against Hyperliquid+0.217%7-day average −0.133% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$590.588% of the position

Long on Hyperliquid Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.129%−$13 on $10k

Price spread, last 3 days (all we have)−0.380%−$38 · spread now +0.217%, 7d avg −0.133%

Together, before fees−0.509%+ Points / potential airdropHyperliquid: Season 2 · farm board−$51 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: ApeX Omni is 0.349% dearer against Hyperliquid than usual: you sell high and buy low, +$35 on $10k if it goes back to its 7-day average of −0.133%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AR	4.4783	0.0100	pay 0.0013% / 1h	16m 37s	$3.8M	$4.8M	5x
Short	ApeX Omni ARUSDT	4.4880	0.0100	get 0.0013% / 1h	16m 37s	$58K	$747K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Hyperliquid. 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 HyperliquidbpFee ApeX OmnibpOrdersPrice spread, now +0.217%Rate

Funding earned: $0
Price spread: +0.217% → −0.133%: $34.92
Slippage, 4 orders: −$39.77
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$23.85
Costs to cover: 0.588%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; ApeX Omni: live order book, 7 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 Hyperliquid live order book, 5 min ago	1.67 bp	12.0 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 7 min ago	6.68 bp	15.2 bp −$15	132.0 bp −$1,320	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	−0.2005%	1h	4.4751	−0.072%	$46K	$155K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4702	−0.180%	$574K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.092%	$3K	$363	5.5x	as long as short
Hyperliquid ARlong	+0.0100%	1h	4.4783	long leg	$3.8M	$4.8M	5x
Aster ARUSDT	+0.0100%	8h	4.4747	−0.081%	$20K	$621K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.4720	−0.141%	$8.7M	$56.1M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4710	−0.163%	$4.6M	$9.0M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.4700	−0.185%	$2.2M	$20.6M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4680	−0.230%	$2.5M	$2.3M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.4720	−0.141%	$6.8M	$4.8M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.4710	−0.163%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4700	−0.185%	$3.8M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4710	−0.163%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4848	+0.144%	$137K	$172K	—	as long as short
ApeX Omni ARUSDTshort	+0.0100%	1h	4.4880	+0.217%	$58K	$747K	50x
Extended AR-USD	+0.0104%	1h	4.4714	−0.154%	$36K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4720	−0.141%	$420K	$668K	20x	as long as short