Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h +0.015%

Price spread now: MEXC against ApeX Omni+0.040%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$7as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$140.145% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 7 days−0.027%−$3 · spread now +0.040%, 7d avg −0.006%

Together, before fees+0.050%+$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.047% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.040% now, against its 7-day average of −0.006%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.076%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ETHUSDT	2,776.6	0.0100	pay 0.0013% / 1h	43m 28s	$8.7M	$32.6M	100x
Short	MEXC ETH_USDT	2,777.7	0.0054	get 0.0054% / 8h	1h 43m	$1.62B	$2.64B	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$9.66
Price spread: +0.040% → −0.006%: $4.68
Slippage, 4 orders: −$2.5
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 1 bp × 2 orders: −$2
Net: −$19.48
Costs to cover: 0.145%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 1 min ago; MEXC: live order book, 6 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, 1 min ago	1.23 bp	6.2 bp −$6	6.4 bp −$64	22.4 bp −$2,237	40.8 bp −$20.4K
Sell MEXC live order book, 6 min ago	0.02 bp	1.0 bp −$1	1.1 bp −$11	1.6 bp −$163	3.9 bp −$1,931

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	−0.0447%	43m	2,776.6	0.000%	$289K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,777.4	+0.031%	$5.8M	$12.0M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,778.1	+0.055%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,762.7	−0.499%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,778	+0.052%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0020%	1h	2,775	−0.057%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,777.3	+0.027%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,774.2	−0.085%	$885K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,777.5	+0.034%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0014%	8h	2,775.7	−0.032%	$267.3M	$65.7M	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0017%	8h	2,776.5	−0.003%	—	$1.18B	—	as long as short
OKX ETH-USDT-SWAP	+0.0019%	8h	2,776.6	+0.003%	$1.71B	$11.82B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,777.3	+0.026%	$13.2M	—	200x	as long as short
Aster ETHUSDT	+0.0033%	8h	2,777.2	+0.024%	$256.7M	$989.8M	200x	as long as short
Bullet ETH-USD	+0.0036%	1h	2,776.4	−0.004%	$182K	$1.8M	20x	as long as short
Nado ETH-PERP	+0.0041%	1h	2,777.6	+0.038%	$14.3M	$117.8M	50x	as long as short
MEXC ETH_USDTshort	+0.0054%	8h	2,777.7	+0.040%	$1.62B	$2.64B	500x
Aevo ETH-PERP	+0.0056%	1h	2,774.3	−0.081%	$5.0M	$636K	20x	as long as short
Binance ETHUSDT	+0.0056%	8h	2,776.9	+0.013%	$6.45B	$17.10B	150x	as long as short
Bitget ETHUSDT	+0.0073%	8h	2,777.5	+0.035%	$2.10B	$3.10B	150x	as long as short
Deribit ETH-PERPETUAL	+0.0074%	1h	2,778	+0.052%	$258.4M	$222.6M	50x	as long as short
Gate ETH_USDT	+0.0082%	8h	2,777.5	+0.034%	$3.29B	$9.56B	200x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,776.1	−0.017%	$1.08B	$1.31B	200x	as long as short
SoDEX ETH-USD	+0.0095%	1h	2,776.3	−0.009%	$55.3M	$228.7M	40x	as long as short
Lighter ETH	+0.0096%	1h	2,778.1	+0.055%	$115.3M	$496.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,779.4	+0.103%	$25.4M	$120.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,777.4	+0.031%	—	$41.3M	500x	as long as short
Hibachi ETH/USDT-P	+0.0096%	1h	2,778.5	+0.071%	$287K	$1.5M	20x	as long as short
Bybit ETHUSDT	+0.0098%	8h	2,776.8	+0.007%	$2.52B	$4.59B	150x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,778.2	+0.058%	$16.0M	$10.6M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,777.7	+0.041%	$483K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,780	+0.124%	$3.19B	$2.39B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,778	+0.050%	$31.3M	$295.5M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,776.7	+0.005%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,779.4	+0.103%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.6	−0.215%	$166.0M	$246.3M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,777.7	+0.042%	$426.0M	$737.6M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,777.4	+0.031%	$15.2M	$44.1M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,773.8	−0.099%	$135.8M	$327.0M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,775.5	−0.037%	$179.9M	$780.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,776.5	−0.001%	$161.5M	$93.1M	50x	as long as short
ApeX Omni ETHUSDTlong	+0.0100%	1h	2,776.6	long leg	$8.7M	$32.6M	100x
StandX ETH-USD	+0.0100%	1h	2,776.2	−0.013%	$21.4M	$57.9M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,779	+0.088%	$10.8M	$7.7M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,778.8	+0.081%	$42.7M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,775.8	−0.029%	$974K	$14.0M	100x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,777.9	+0.048%	—	$1.1M	50x	as long as short
Extended ETH-USD	+0.0104%	1h	2,777	+0.018%	$31.4M	$74.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,777.8	+0.045%	$60.1M	$4.60B	50x	as long as short
Kalshi KXETHPERP	+0.0110%	8h	2,777	+0.016%	$8.6M	$673.2M	4.9x	as long as short
Bluefin ETH-PERP	+0.0125%	1h	2,777.6	+0.037%	$21K	$24K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0139%	8h	2,779.4	+0.102%	$32.6M	$12.0M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0169%	1h	2,777.6	+0.036%	$86.2M	$330.4M	100x	as long as short
BloFin ETH-USDT	+0.0174%	8h	2,776.4	−0.006%	$285.5M	$194.6M	150x	as long as short
Reya ETHRUSDPERP	+0.0188%	1h	2,777.3	+0.026%	$7.4M	$1.1M	25x	as long as short