Funding you earn now, next payment 21:00 UTC+0.0362%/8h= +39.6% APRnext payment +$0.45 per $10,000 · paid last 24h +0.082%
Price spread now: Backpack against ApeX Omni−0.040%7-day average +0.049% · you buy dearer than you sell
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$470.471% of the position
Funding, last 7 days+0.116%+$12 on $10k
+Price spread, last 3 days (all we have)−0.411%−$41 · spread now −0.040%, 7d avg +0.049%
=Funding pays, the price is against you. Backpack is 0.090% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.040% now, against its 7-day average of +0.049%). If the spread goes back, that is −$9 on $10k: about 20 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.116% in total) that is about 5.4 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.116% in total (about 6.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.45 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni ARBUSDT | 0.2227 | 0.0051 | pay 0.0006% / 1h | 9m 22s | $122K | $275K | 50x |
| Short | Backpack ARB_USDC_PERP | 0.2226 | 0.0413 | get 0.0052% / 1h | 9m 22s | $1.1M | $2.9M | 20x |
ApeX Omni ARBUSDT
Backpack ARB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $76.01
- Price spread: −0.040% → +0.049%
- −$8.99
- Slippage, 4 orders
- −$27.08
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $19.95
- Costs to cover
- 0.471%
- Break-even
- 5.2 days
Slippage from ApeX Omni: live order book, 17 min ago; Backpack: 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, 17 min ago | 6.64 bp | 14.6 bp −$15 | 111.8 bp −$1,118 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 5 min ago | 0.67 bp | 7.8 bp −$8 | 468.4 bp −$4,684 | doesn't fit | doesn't fit |
ARB on 36 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ARB/USDC PERP | −0.0803% | 1h | 0.2220 | −0.314% | $40K | $107K | 12x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0317% | 1h | 0.2226 | −0.056% | $1.2M | $5.2M | 50x | as long as short |
| Bybit ARBUSDT | −0.0286% | 8h | 0.2220 | −0.292% | $57.6M | $134.8M | 50x | as long as short |
| SoDEX ARB-USD | −0.0229% | 1h | 0.2224 | −0.126% | $5K | $2.9M | 5x | as long as short |
| Variational Omni ARB | −0.0201% | 8h | 0.2226 | −0.057% | $1.9M | $2.8M | — | as long as short |
| 01 Exchange ARBUSD | −0.0152% | 1h | 0.2224 | −0.144% | $7K | $2K | 10x | as long as short |
| MEXC ARB_USDT | −0.0069% | 8h | 0.2220 | −0.301% | $37.8M | $64.2M | 200x | as long as short |
| OKX ARB-USDT-SWAP | −0.0068% | 8h | 0.2225 | −0.085% | $22.7M | $164.9M | 50x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0064% | 1h | 0.2225 | −0.081% | $36K | $18K | 25x | as long as short |
| Binance ARBUSDT | −0.0002% | 8h | 0.2221 | −0.259% | $63.6M | $324.8M | 75x | as long as short |
Injective ARB/USDC PERP
Kraken Futures PF_ARBUSD
Bybit ARBUSDT
SoDEX ARB-USD
Variational Omni ARB
01 Exchange ARBUSD
MEXC ARB_USDT
OKX ARB-USDT-SWAP
Deribit ARB_USDC-PERPETUAL
Binance ARBUSDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_ARB_USDC | −0.0002% | 8h | 0.2223 | −0.180% | $10K | $383K | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2224 | −0.132% | $66K | $4K | 10x | as long as short |
| Extended ARB-USD | 0.0000% | 1h | 0.2226 | −0.066% | $355K | $2.5M | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2222 | −0.229% | $58K | — | 150x | as long as short |
| BloFin ARB-USDT | +0.0005% | 8h | 0.2226 | −0.040% | $3.1M | $3.2M | 75x | as long as short |
| Gate ARB_USDT | +0.0009% | 8h | 0.2220 | −0.301% | $5.5M | $21.9M | 60x | as long as short |
| Polymarket Perps ARB-USD | +0.0033% | 1h | 0.2226 | −0.054% | $66K | $2.3M | 10x | as long as short |
| ApeX Omni ARBUSDTlong | +0.0051% | 1h | 0.2227 | long leg | $122K | $275K | 50x | |
| Bitget ARBUSDT | +0.0075% | 8h | 0.2221 | −0.269% | $20.8M | $38.8M | 50x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2226 | −0.045% | $146K | $12K | 3x | as long as short |
| BingX ARB-USDC | +0.0085% | 8h | 0.2223 | −0.202% | — | $6.5M | — | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2224 | −0.148% | $1.3M | $7.9M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2222 | −0.211% | $40.2M | $52.6M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2226 | −0.047% | $708K | $1.8M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2225 | −0.081% | $46K | $205K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2222 | −0.233% | $20.4M | $17.2M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2227 | +0.010% | $38K | $448K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2227 | −0.005% | $478K | $4.2M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2227 | 0.000% | $1K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2225 | −0.094% | $273K | $1.2M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2223 | −0.180% | $5.4M | $13.9M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0290% / S −0.0189% | 1h | 0.2221 | −0.255% | $869K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0291% | 1h | 0.2220 | −0.326% | $2K | $695 | 20x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0312% | 1h | 0.2226 | −0.045% | $504K | $2.5M | 50x | as long as short |
| Backpack ARB_USDC_PERPshort | +0.0413% | 1h | 0.2226 | −0.040% | $1.1M | $2.9M | 20x | |
| RISEx ARB/USDC | +0.0621% | 1h | 0.2228 | +0.049% | $504K | $2.9M | 10x | as long as short |
Orderly PERP_ARB_USDC
dYdX ARB-USD
Extended ARB-USD
gTrade (Gains Network) ARB/USD
BloFin ARB-USDT
Gate ARB_USDT
Polymarket Perps ARB-USD
Bitget ARBUSDT
Aevo ARB-PERP
BingX ARB-USDC
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
Coinbase International ARB-PERP-INTX
RISEx ARB/USDC