Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0341%/8h= −37.3% APRpaid last 24h −0.038%

Price spread now: ApeX Omni against OKX+0.203%110s7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$419as 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−$4104.104% 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−0.082%−$8 on $10k

Price spread, last 4 days (all we have)−0.078%−$8 · spread now +0.203%, 7d avg −0.002%

Together, before fees−0.159%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.206% dearer against OKX than usual: you sell high and buy low (spread +0.203% now, against its 7-day average of −0.002%): +$21 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 2.0 days. At the pace of the last 7 days (−0.082% in total) that is about 18 days. The two prices were read 110 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 -0.082% in total (about -4.3% a year). A funding rate is set anew for every payment. 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	OKX EDGE-USDT-SWAP	0.5902	0.0441	pay 0.0220% / 4h	49m 47s	$3.7M	$5.7M	20x
Short	ApeX Omni EDGEUSDT	0.5914	0.0100	get 0.0013% / 1h	49m 47s	$9K	$304K	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 +0.203%Rate

Funding earned: −$71.53
Price spread: +0.203% → −0.002%: $20.57
Slippage, 4 orders: −$390.39
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$461.35
Costs to cover: 4.104%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; ApeX Omni: 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 OKX live order book, 3 min ago	2.54 bp	23.4 bp −$23	144.3 bp −$1,443	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 8 min ago	16.09 bp	183.0 bp −$183	doesn't fit	doesn't fit	doesn't fit

EDGE 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
Backpack EDGE_USDC_PERP	−0.0348%	1h	0.5896	−0.105%	$60K	$107K	3.3x	as long as short
Lighter EDGE	+0.0096%	1h	0.5888	−0.234%	$43K	$19K	3x	as long as short
Bybit EDGEUSDT	+0.0100%	4h	0.5887	−0.254%	$7.0M	$3.3M	25x	as long as short
KuCoin EDGEUSDTM	+0.0100%	4h	0.5895	−0.119%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5896	−0.102%	$4.7M	$1.1M	20x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5892	−0.161%	$188K	$135K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5913	+0.186%	$6K	$2.2M	10x	as long as short
ApeX Omni EDGEUSDTshort	+0.0100%	1h	0.5914	+0.203%	$9K	$304K	50x
SunX EDGE-USDT	+0.0100%	4h	0.5863	−0.661%	$4K	$623K	10x	as long as short
BloFin EDGE-USDT	+0.0363%	4h	0.5908	+0.102%	$651K	$101K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EDGE-USD	+0.0384%	1h	0.5896	−0.102%	$27K	$191K	5x	as long as short
MEXC EDGE_USDT	+0.0386%	4h	0.5898	−0.068%	$1.1M	$885K	50x	as long as short
Binance EDGEUSDT	+0.0387%	4h	0.5898	−0.068%	$10.1M	$10.3M	50x	as long as short
Aster EDGEUSDT	+0.0428%	4h	0.5898	−0.075%	$67K	$129K	5x	as long as short
OKX EDGE-USDT-SWAPlong	+0.0441%	4h	0.5902	long leg	$3.7M	$5.7M	20x
edgeX EDGEUSDC	+0.0458%	4h	0.5917	+0.262%	$14.2M	$3.6M	30x	as long as short
Orderly PERP_EDGE_USDC	+0.0561%	4h	0.5896	−0.102%	$3K	—	10x	as long as short