Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.004%

Price spread now: BingX against ApeX Omni−0.032%68s7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as 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−$210.213% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BingX is 0.032% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 40 hours of funding at the current rate (+$2 a day). The two prices were read 68 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	ApeX Omni ETHUSDT	2,777.7	0.0036	pay 0.0005% / 1h	14m 27s	$8.8M	$32.6M	100x
Short	BingX ETH-USDT	2,776.8	0.0100	get 0.0100% / 8h	2h 14m	—	$1.18B	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now −0.032%Rate

Funding earned: $13.36
Price spread: −0.032% → 0.000%: −$3.17
Slippage, 4 orders: −$1.28
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$11.1
Costs to cover: 0.213%
Break-even: 12.8 days

Slippage from ApeX Omni: live order book, 5 min ago; BingX: live order book, 10 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, 5 min ago	0.02 bp	6.0 bp −$6	7.6 bp −$76	24.5 bp −$2,455	45.7 bp −$22.8K
Sell BingX live order book, 10 min ago	0.04 bp	5.0 bp −$5	5.0 bp −$50	5.3 bp −$526	6.0 bp −$2,975

ETH on 55 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
Perpl ETH	−0.0112%	43m	2,776.6	−0.038%	$289K	$6.9M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,776.6	−0.038%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,777.4	−0.009%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0048%	1h	2,776.5	−0.041%	$172K	$1.2M	50x	as long as short
Phoenix ETH	−0.0023%	1h	2,780	+0.085%	$859K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,776.4	−0.044%	$5.8M	$11.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,777	−0.024%	$12.7M	$45.5M	50x	as long as short
Aftermath Perps ETHUSD	+0.0002%	1h	2,776.8	−0.029%	$29K	$22K	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,777.5	−0.004%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0016%	8h	2,776.9	−0.028%	$267.4M	$66.0M	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0022%	8h	2,776.7	−0.033%	$1.71B	$11.92B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,777.4	−0.009%	$13.2M	—	200x	as long as short
ApeX Omni ETHUSDTlong	+0.0036%	1h	2,777.7	long leg	$8.8M	$32.6M	100x
Aster ETHUSDT	+0.0038%	8h	2,776.7	−0.033%	$256.8M	$995.6M	200x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,774.7	−0.106%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0051%	8h	2,776.6	−0.039%	$1.60B	$2.68B	500x	as long as short
Binance ETHUSDT	+0.0051%	8h	2,776.9	−0.028%	$6.45B	$17.23B	150x	as long as short
Gate ETH_USDT	+0.0075%	8h	2,776.9	−0.027%	$3.28B	$9.68B	200x	as long as short
Bitget ETHUSDT	+0.0076%	8h	2,776.7	−0.033%	$2.10B	$3.13B	150x	as long as short
Deribit ETH-PERPETUAL	+0.0078%	1h	2,778.6	+0.033%	$258.5M	$225.1M	50x	as long as short
Bullet ETH-USD	+0.0084%	1h	2,776.4	−0.043%	$184K	$1.8M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,777.1	−0.021%	$115.1M	$514.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,778.6	+0.032%	$25.4M	$123.0M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,777.7	0.000%	—	$41.7M	500x	as long as short
Variational Omni ETH	+0.0098%	8h	2,776.8	−0.029%	$141.1M	$320.7M	—	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,776.5	−0.042%	$16.0M	$10.8M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,776.9	−0.027%	$488K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,776.7	−0.034%	$15.3M	$117.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,779.3	+0.059%	$3.20B	$2.40B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,777.2	−0.016%	$31.3M	$289.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,776.7	−0.035%	$2.52B	$4.64B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,775.9	−0.063%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,778.3	+0.022%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,778.1	+0.016%	$165.4M	$253.6M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,776.5	−0.040%	$422.8M	$742.0M	100x	as long as short
BingX ETH-USDTshort	+0.0100%	8h	2,776.8	−0.032%	—	$1.18B	—
Backpack ETH_USDC_PERP	+0.0100%	1h	2,777.3	−0.012%	$15.4M	$42.9M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,777.2	−0.016%	$179.9M	$795.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,779.2	+0.056%	$161.6M	$97.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,776.9	−0.027%	$21.4M	$57.8M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,777.4	−0.010%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,778	+0.013%	$10.8M	$7.8M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,777.6	−0.003%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,779.1	+0.054%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,775.3	−0.086%	$972K	$14.2M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,776.9	−0.027%	$55.3M	$228.5M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,775.5	−0.079%	$1.08B	$1.32B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,775.8	−0.065%	$31.4M	$75.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,778.7	+0.039%	$60.0M	$4.63B	50x	as long as short
Kalshi KXETHPERP	+0.0120%	8h	2,777.1	−0.020%	$8.5M	$674.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0135%	8h	2,779.5	+0.068%	$32.6M	$12.0M	100x	as long as short
BloFin ETH-USDT	+0.0172%	8h	2,776.9	−0.027%	$284.4M	$196.0M	150x	as long as short
Reya ETHRUSDPERP	+0.0184%	1h	2,776.4	−0.046%	$7.4M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0240%	1h	2,778.3	+0.024%	$87.0M	$330.8M	100x	as long as short
Hibachi ETH/USDT-P	+0.0456%	1h	2,778.1	+0.015%	$282K	$1.5M	20x	as long as short