Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0111%/8h= −12.2% APRpaid last 24h −0.044%

Price spread now: ApeX Omni against BloFin+0.089%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$220.224% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.315%−$32 on $10k

Price spread, last 4 days (all we have)+0.078%+$8 · spread now +0.089%, 7d avg +0.002%

Together, before fees−0.237%−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.087% dearer against BloFin than usual: you sell high and buy low (spread +0.089% now, against its 7-day average of +0.002%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ETH-USDT	2,735.5	0.0211	pay 0.0211% / 8h	4h 51m	$285.2M	$172.6M	150x
Short	ApeX Omni ETHUSDT	2,738	0.0100	get 0.0013% / 1h	51m 11s	$8.7M	$30.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now +0.089%Rate

Funding earned: −$23.33
Price spread: +0.089% → +0.002%: $8.68
Slippage, 4 orders: −$0.44
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$37.09
Costs to cover: 0.224%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; ApeX Omni: live order book, 3 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 BloFin live order book, 3 min ago	0.04 bp	6.0 bp −$6	6.0 bp −$60	6.8 bp −$677	10.0 bp −$4,995
Sell ApeX Omni live order book, 3 min ago	0.07 bp	5.3 bp −$5	6.1 bp −$61	18.6 bp −$1,861	74.2 bp −$37.1K

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	2,735.2	−0.013%	$300K	$5.5M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,739.3	+0.138%	$118K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,736.3	+0.029%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,736.5	+0.036%	$12.0M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,736.2	+0.025%	$10.8M	$41.7M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,736.3	+0.029%	$181K	$834K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,741.2	+0.208%	$832K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,736.1	+0.022%	$25.7M	—	200x	as long as short
Bullet ETH-USD	+0.0047%	1h	2,735.9	+0.014%	$180K	$1.7M	20x	as long as short
SoDEX ETH-USD	+0.0049%	1h	2,735.8	+0.010%	$54.5M	$187.6M	40x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0055%	8h	2,735.8	+0.009%	—	$18.4M	—	as long as short
OKX ETH-USDT-SWAP	+0.0071%	8h	2,736.5	+0.035%	$1.68B	$10.61B	100x	as long as short
KuCoin ETHUSDTM	+0.0072%	8h	2,736.1	+0.022%	$380.9M	$573.3M	100x	as long as short
Aster ETHUSDT	+0.0083%	8h	2,737	+0.054%	$253.1M	$840.5M	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,733.1	−0.087%	$4.9M	$154K	20x	as long as short
MEXC ETH_USDT	+0.0091%	8h	2,736.2	+0.026%	$1.56B	$2.52B	500x	as long as short
Binance ETHUSDT	+0.0091%	8h	2,737.5	+0.073%	$6.36B	$15.71B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,736.3	+0.028%	$112.6M	$432.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,737.5	+0.073%	$24.2M	$103.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,735.5	+0.001%	—	$30.5M	500x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,736.3	+0.029%	$5.6M	$11.4M	25x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,739.5	+0.146%	$15.8M	$8.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,735.2	−0.012%	$499K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,735.5	−0.001%	$13.9M	$104.6M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,738	+0.089%	$3.11B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,736.4	+0.032%	$31.6M	$335.1M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,736.4	+0.031%	$2.43B	$4.18B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,735.3	−0.008%	$2.7M	$16.9M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,736	+0.018%	$2.8M	$16.0M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,740.8	+0.192%	$166.9M	$306.7M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,736.5	+0.034%	$3.38B	$8.69B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,736.4	+0.032%	$2.08B	$2.72B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,736.1	+0.020%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,734.9	−0.023%	$133.1M	$324.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,738	+0.090%	$182.0M	$665.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,739	+0.126%	$159.4M	$84.4M	50x	as long as short
ApeX Omni ETHUSDTshort	+0.0100%	1h	2,738	+0.089%	$8.7M	$30.7M	100x
StandX ETH-USD	+0.0100%	1h	2,739.3	+0.138%	$21.1M	$69.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,736.9	+0.051%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,737.2	+0.061%	$10.9M	$8.8M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,737.3	+0.065%	$41.4M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,735.3	−0.008%	$960K	$11.4M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,735.8	+0.011%	$1.06B	$1.18B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,736	+0.018%	$265.9M	$65.1M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,734.8	−0.028%	$30.6M	$72.4M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,737.5	+0.071%	$51.1M	$4.26B	50x	as long as short
Aftermath Perps ETHUSD	+0.0123%	1h	2,739	+0.129%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0156%	8h	2,736.3	+0.029%	$7.7M	$672.9M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0194%	8h	2,737.8	+0.083%	$32.2M	$11.4M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0196%	1h	2,737.5	+0.071%	$260.0M	$194.6M	50x	as long as short
BloFin ETH-USDTlong	+0.0211%	8h	2,735.5	long leg	$285.2M	$172.6M	150x
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,736.6	+0.040%	$85.6M	$310.0M	100x	as long as short
Reya ETHRUSDPERP	+0.0224%	1h	2,735.3	−0.009%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,739.6	+0.148%	$252K	$1.4M	20x	as long as short
Bluefin ETH-PERP	+0.1422%	1h	2,736.1	+0.022%	$21K	$20K	25x	as long as short