Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0014%/8h= +1.6% APRpaid last 24h −0.008%

Price spread now: ApeX Omni against BingX+0.071%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 7 days−0.060%−$6 · spread now +0.071%, 7d avg +0.047%

Together, before fees−0.144%−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and ApeX Omni is 0.024% dearer against BingX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.047%. Mind the row above: over the last 7 days funding on this pair cost −0.084%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ETH-USDC	2,743	0.0040	pay 0.0040% / 8h	6h 08m	—	$18.6M	—
Short	ApeX Omni ETHUSDT	2,744.9	0.0054	get 0.0007% / 1h	8m 58s	$8.8M	$31.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now +0.071%Rate

Funding earned: $3.04
Price spread: +0.071% → +0.047%: $2.42
Slippage, 4 orders: −$3.18
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$17.73
Costs to cover: 0.232%
Break-even: 47.8 days

Slippage from BingX: live order book, 14 min ago; ApeX Omni: live order book, just now.

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 BingX live order book, 14 min ago	0.18 bp	5.2 bp −$5	5.9 bp −$59	7.0 bp −$702	9.8 bp −$4,886
Sell ApeX Omni live order book, just now	1.22 bp	6.6 bp −$7	8.3 bp −$83	21.7 bp −$2,172	78.1 bp −$39.1K

ETH on 54 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	2,743.2	+0.009%	$310K	$5.8M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,743	+0.001%	$5K	$1K	50x	as long as short
RISEx ETH/USDC	−0.0071%	1h	2,742.3	−0.024%	$5.7M	$11.4M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0009% / S +0.0043%	1h	2,742.9	−0.002%	$12.1M	—	200x	as long as short
Phoenix ETH	−0.0006%	1h	2,748.5	+0.202%	$848K	$3.1M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,743.3	+0.012%	$10.8M	$42.1M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,743	+0.001%	$22.2M	—	200x	as long as short
01 Exchange ETHUSD	+0.0040%	1h	2,742.8	−0.006%	$181K	$1.1M	50x	as long as short
BingX ETH-USDClong	+0.0040%	8h	2,743	long leg	—	$18.6M	—
OKX ETH-USDT-SWAP	+0.0051%	8h	2,743.5	+0.018%	$1.69B	$10.91B	100x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ETHUSDTshort	+0.0054%	1h	2,744.9	+0.071%	$8.8M	$31.5M	100x
HTX ETH-USDT	+0.0064%	8h	2,743	+0.002%	$1.06B	$1.20B	200x	as long as short
KuCoin ETHUSDTM	+0.0066%	8h	2,743.7	+0.026%	$370.2M	$609.4M	100x	as long as short
Aster ETHUSDT	+0.0068%	8h	2,743.7	+0.025%	$253.3M	$857.6M	200x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,741.2	−0.066%	$4.9M	$167K	20x	as long as short
Binance ETHUSDT	+0.0080%	8h	2,743.6	+0.024%	$6.38B	$16.20B	150x	as long as short
MEXC ETH_USDT	+0.0081%	8h	2,744.1	+0.040%	$1.57B	$2.58B	500x	as long as short
Gate ETH_USDT	+0.0088%	8h	2,743.7	+0.028%	$3.39B	$8.94B	200x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,743.8	+0.031%	$58.7M	$4.32B	50x	as long as short
Lighter ETH	+0.0096%	1h	2,743.2	+0.009%	$112.8M	$444.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,744.3	+0.050%	$24.7M	$107.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,743.2	+0.008%	—	$35.4M	500x	as long as short
Bitget ETHUSDT	+0.0099%	8h	2,743.7	+0.025%	$2.08B	$2.83B	150x	as long as short
Aftermath Perps ETHUSD	+0.0099%	1h	2,746.8	+0.139%	$30K	$20K	20x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,746.7	+0.135%	$16.2M	$8.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,741.6	−0.050%	$476K	$2.9M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,742.5	−0.018%	$13.9M	$112.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,744.9	+0.070%	$3.12B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,743.1	+0.005%	$31.7M	$334.3M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,743.5	+0.021%	$2.46B	$4.31B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,743.2	+0.008%	$2.7M	$17.0M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,743	+0.003%	$2.8M	$16.4M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,742.6	−0.012%	$15.0M	$41.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,744.9	+0.072%	$132.7M	$345.6M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,744.9	+0.071%	$181.5M	$699.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,745.7	+0.101%	$159.7M	$82.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,745.5	+0.092%	$21.2M	$69.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,743.8	+0.030%	—	$849K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,743.2	+0.008%	$10.7M	$8.6M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,742.2	−0.028%	$181K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,743.1	+0.004%	$21K	$21K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,745.3	+0.084%	$41.7M	$29.5M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,742.5	−0.016%	$961K	$12.3M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,743.1	+0.005%	$54.6M	$187.8M	40x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,743	+0.003%	$267.0M	$66.1M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,747.7	+0.171%	$164.0M	$301.0M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,742.8	−0.004%	$30.5M	$73.4M	50x	as long as short
Kalshi KXETHPERP	+0.0146%	8h	2,743.5	+0.019%	$7.7M	$672.7M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0177%	8h	2,745.8	+0.105%	$32.3M	$11.2M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0180%	1h	2,744.5	+0.054%	$258.8M	$200.2M	50x	as long as short
Injective ETH/USDC PERP	+0.0209%	1h	2,745	+0.074%	$118K	$22.5M	52x	as long as short
Hibachi ETH/USDT-P	+0.0216%	1h	2,745.3	+0.087%	$250K	$1.5M	20x	as long as short
Reya ETHRUSDPERP	+0.0222%	1h	2,742.5	−0.018%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0355%	1h	2,743.7	+0.026%	$88.5M	$316.8M	100x	as long as short