Funding you earn now, next payment 23:00 UTC−0.0503%/8h= −55.1% APRnext payment −$0.63 per $10,000 · paid last 24h −0.089%
Price spread now: ApeX Omni against Backpack+0.022%84s7-day average −0.053% · 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—prices read too far apart to compare
costs, in and out, $10k−$600.597% of the position
Funding, last 7 days−0.126%−$13 on $10k
+Price spread, last 3 days (all we have)+0.184%+$18 · spread now +0.022%, 7d avg −0.053%
=The price spread pays, funding is against you. ApeX Omni is 0.075% dearer against Backpack than usual: you sell high and buy low (spread +0.022% now, against its 7-day average of −0.053%): +$8 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.126% in total) that is about 4.2 days. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.126% in total (about -6.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.63 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 | Backpack ARB_USDC_PERP | 0.2226 | 0.0603 | pay 0.0075% / 1h | 51m 43s | $1.1M | $2.7M | 20x |
| Short | ApeX Omni ARBUSDT | 0.2227 | 0.0100 | get 0.0013% / 1h | 51m 43s | $120K | $296K | 50x |
Backpack ARB_USDC_PERP
ApeX Omni ARBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Backpack. 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
- −$105.67
- Price spread: +0.022% → −0.053%
- $7.51
- Slippage, 4 orders
- −$39.65
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$157.82
- Costs to cover
- 0.597%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 2 min ago; ApeX Omni: live order book, 31 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 Backpack live order book, 2 min ago | 0.67 bp | 10.1 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 31 min ago | 8.93 bp | 22.1 bp −$22 | 122.8 bp −$1,228 | 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 | −0.1770% | 1h | 0.2218 | −0.382% | $40K | $283K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0224% | 1h | 0.2223 | −0.148% | $7K | $2K | 10x | as long as short |
| Variational Omni ARB | −0.0157% | 8h | 0.2221 | −0.226% | $1.9M | $2.8M | — | as long as short |
| SoDEX ARB-USD | −0.0134% | 1h | 0.2223 | −0.175% | $4K | $2.9M | 5x | as long as short |
| Bybit ARBUSDT | −0.0132% | 8h | 0.2222 | −0.198% | $57.2M | $136.2M | 50x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0110% | 1h | 0.2224 | −0.130% | $26K | $32K | 25x | as long as short |
| OKX ARB-USDT-SWAP | −0.0110% | 8h | 0.2223 | −0.166% | $22.2M | $163.0M | 50x | as long as short |
| MEXC ARB_USDT | −0.0109% | 8h | 0.2223 | −0.139% | $36.7M | $62.0M | 200x | as long as short |
| Polymarket Perps ARB-USD | −0.0047% | 1h | 0.2224 | −0.108% | $76K | $2.2M | 10x | as long as short |
| Orderly PERP_ARB_USDC | −0.0023% | 8h | 0.2223 | −0.157% | $10K | $392K | 10x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
Variational Omni ARB
SoDEX ARB-USD
Bybit ARBUSDT
Deribit ARB_USDC-PERPETUAL
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Polymarket Perps ARB-USD
Orderly PERP_ARB_USDCShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended ARB-USD | −0.0016% | 1h | 0.2223 | −0.169% | $353K | $2.4M | 25x | as long as short |
| Binance ARBUSDT | −0.0013% | 8h | 0.2223 | −0.141% | $63.3M | $323.5M | 75x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2225 | −0.076% | $66K | $4K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2225 | −0.088% | $55K | — | 150x | as long as short |
| Gate ARB_USDT | +0.0010% | 8h | 0.2224 | −0.099% | $5.5M | $20.6M | 60x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2224 | −0.101% | $145K | $12K | 3x | as long as short |
| Bitget ARBUSDT | +0.0085% | 8h | 0.2222 | −0.202% | $20.8M | $38.1M | 50x | as long as short |
| Kraken Futures PF_ARBUSD | +0.0085% | 1h | 0.2226 | −0.033% | $1.1M | $5.2M | 50x | as long as short |
| BingX ARB-USDC | +0.0089% | 8h | 0.2222 | −0.202% | — | $6.5M | — | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2225 | −0.072% | $1.3M | $7.3M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2225 | −0.054% | $39.7M | $52.2M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2224 | −0.119% | $691K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2225 | −0.090% | $44K | $200K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2225 | −0.063% | $20.5M | $16.9M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2226 | −0.042% | $36K | $457K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2226 | −0.016% | $479K | $4.0M | 10x | as long as short |
| ApeX Omni ARBUSDTshort | +0.0100% | 1h | 0.2227 | +0.022% | $120K | $296K | 50x | |
| SunX ARB-USDT | +0.0100% | 8h | 0.2226 | −0.022% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2224 | −0.099% | $274K | $1.2M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2224 | −0.112% | $5.2M | $13.6M | 50x | as long as short |
| BloFin ARB-USDT | +0.0107% | 8h | 0.2222 | −0.184% | $3.0M | $3.2M | 75x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0264% | 1h | 0.2231 | +0.202% | $506K | $2.5M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0274% / S −0.0157% | 1h | 0.2224 | −0.104% | $832K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0291% | 1h | 0.2223 | −0.139% | $2K | $695 | 20x | as long as short |
| RISEx ARB/USDC | +0.0363% | 1h | 0.2226 | −0.007% | $491K | $2.8M | 10x | as long as short |
| Backpack ARB_USDC_PERPlong | +0.0603% | 1h | 0.2226 | long leg | $1.1M | $2.7M | 20x |
Extended ARB-USD
Binance ARBUSDT
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Gate ARB_USDT
Aevo ARB-PERP
Bitget ARBUSDT
Kraken Futures PF_ARBUSD
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
BloFin ARB-USDT
Coinbase International ARB-PERP-INTX
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
RISEx ARB/USDC