Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0025%/8h= +2.8% APRpaid last 24h +0.042%

Price spread now: ApeX Omni against OKX+0.293%70s7-day average +0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as 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−$790.792% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.225%−$23 · spread now +0.293%, 7d avg +0.090%

Together, before fees−0.195%−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and ApeX Omni is 0.202% dearer against OKX than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.090%. The two prices were read 70 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	OKX AR-USDT-SWAP	4.4430	0.0075	pay 0.0075% / 8h	3h 58m	$2.3M	$17.6M	20x
Short	ApeX Omni ARUSDT	4.4560	0.0100	get 0.0013% / 1h	58m 21s	$19K	$717K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now +0.293%Rate

Funding earned: $5.31
Price spread: +0.293% → +0.090%: $20.22
Slippage, 4 orders: −$59.15
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$53.62
Costs to cover: 0.792%
Break-even: 77.6 days

Slippage from OKX: live order book, 5 min ago; ApeX Omni: live order book, 60 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 OKX live order book, 5 min ago	1.12 bp	22.5 bp −$22	264.1 bp −$2,641	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 60 min ago	7.72 bp	15.6 bp −$16	119.9 bp −$1,199	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	−0.1214%	1h	4.4432	+0.005%	$60K	$159K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.4481	+0.115%	$572K	—	50x	as long as short
OKX AR-USDT-SWAPlong	+0.0075%	8h	4.4430	long leg	$2.3M	$17.6M	20x
Aster ARUSDT	+0.0100%	8h	4.4451	+0.047%	$26K	$478K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.4440	+0.023%	$8.7M	$49.8M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4420	−0.023%	$4.6M	$8.1M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4430	0.000%	$2.5M	$1.8M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.4430	0.000%	$6.3M	$4.0M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.4400	−0.068%	$1.1M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4390	−0.090%	$3.9M	$5.0M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AR-USDT	+0.0100%	8h	4.4430	0.000%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4552	+0.275%	$236K	$246K	—	as long as short
ApeX Omni ARUSDTshort	+0.0100%	1h	4.4560	+0.293%	$19K	$717K	50x
Extended AR-USD	+0.0104%	1h	4.4406	−0.054%	$37K	$236K	10x	as long as short
Hyperliquid AR	+0.0132%	1h	4.4498	+0.153%	$4.0M	$4.3M	5x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4500	+0.158%	$422K	$466K	20x	as long as short
Injective AR/USDC PERP	+0.0433%	1h	4.4770	+0.765%	$2K	$5K	5.5x	as long as short