Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h −0.020%

Price spread now: ApeX Omni against edgeX−0.017%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on edgeX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.199%−$20 on $10k

Price spread, last 7 days+0.020%+$2 · spread now −0.017%, 7d avg +0.036%

Together, before fees−0.179%+ Points / potential airdropedgeX: Active · farm board−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and ApeX Omni is 0.052% cheaper against edgeX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.036%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ETHUSDC	2,772.9	0.0100	pay 0.0050% / 4h	2h 49m	$178.4M	$789.3M	100x
Short	ApeX Omni ETHUSDT	2,772.5	−0.0176	pay 0.0022% / 1h	49m 54s	$10.5M	$31.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against edgeX. 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 edgeXbpFee ApeX OmnibpOrdersPrice spread, now −0.017%Rate

Funding earned: −$57.88
Price spread: −0.017% → +0.036%: −$5.23
Slippage, 4 orders: −$3.08
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$85.19
Costs to cover: 0.221%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; ApeX Omni: live order book, 4 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 edgeX live order book, 4 min ago	0.04 bp	4.6 bp −$5	4.6 bp −$46	4.9 bp −$488	6.6 bp −$3,281
Sell ApeX Omni live order book, 4 min ago	0.63 bp	5.6 bp −$6	7.7 bp −$77	27.6 bp −$2,765	84.4 bp −$42.2K

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	2,771.1	−0.066%	$289K	$6.9M	8.3x	as long as short
ApeX Omni ETHUSDTshort	−0.0176%	1h	2,772.5	−0.017%	$10.5M	$31.0M	100x
Injective ETH/USDC PERP	−0.0107%	1h	2,774.7	+0.063%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,770.4	−0.092%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0072%	1h	2,771.1	−0.066%	$172K	$1.2M	50x	as long as short
Phoenix ETH	−0.0023%	1h	2,776.7	+0.136%	$797K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,771.2	−0.063%	$5.8M	$12.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,771.5	−0.054%	$12.9M	$45.3M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,770.6	−0.083%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0021%	8h	2,769.1	−0.138%	$266.4M	$65.9M	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	2,769.3	−0.130%	$1.70B	$11.90B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,770.5	−0.089%	$13.0M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0039%	1h	2,774.9	+0.071%	$29K	$22K	20x	as long as short
Aevo ETH-PERP	+0.0040%	1h	2,768.4	−0.163%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0043%	8h	2,769.4	−0.128%	$1.60B	$2.63B	500x	as long as short
Aster ETHUSDT	+0.0043%	8h	2,769.4	−0.128%	$255.7M	$999.2M	200x	as long as short
Binance ETHUSDT	+0.0043%	8h	2,769.6	−0.122%	$6.44B	$17.26B	150x	as long as short
Gate ETH_USDT	+0.0056%	8h	2,769.6	−0.119%	$3.29B	$9.54B	200x	as long as short
SoDEX ETH-USD	+0.0071%	1h	2,769.2	−0.135%	$55.1M	$228.6M	40x	as long as short
Bitget ETHUSDT	+0.0073%	8h	2,769.4	−0.127%	$2.09B	$3.14B	150x	as long as short
Bullet ETH-USD	+0.0080%	1h	2,769.5	−0.124%	$187K	$1.8M	20x	as long as short
Variational Omni ETH	+0.0091%	8h	2,769.8	−0.112%	$141.1M	$319.9M	—	as long as short
Lighter ETH	+0.0096%	1h	2,769.9	−0.109%	$115.1M	$508.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,771.2	−0.062%	$25.3M	$121.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,771.9	−0.039%	—	$42.6M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,772.1	−0.030%	$15.9M	$11.0M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,771.2	−0.063%	$490K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,770.9	−0.075%	$16.1M	$115.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772.4	−0.020%	$3.19B	$2.38B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,771.4	−0.055%	$31.2M	$281.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,769.5	−0.123%	$2.51B	$4.65B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,771.1	−0.066%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,773.2	+0.008%	$2.8M	$17.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.8	−0.076%	$164.5M	$255.4M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,769.3	−0.131%	$426.0M	$745.3M	100x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,769.5	−0.123%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,769.8	−0.114%	$15.4M	$42.4M	50x	as long as short
edgeX ETHUSDClong	+0.0100%	4h	2,772.9	long leg	$178.4M	$789.3M	100x
GRVT ETH_USDT_Perp	+0.0100%	8h	2,777	+0.148%	$161.5M	$98.2M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.2	−0.063%	$21.4M	$57.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,771.3	−0.060%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,772.5	−0.016%	$10.8M	$7.8M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,770.8	−0.078%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,772.1	−0.029%	$42.8M	$29.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,770.1	−0.103%	$971K	$14.3M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,769.1	−0.138%	$1.08B	$1.32B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,768.9	−0.145%	$31.6M	$76.3M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,771	−0.070%	$60.1M	$4.65B	50x	as long as short
Kalshi KXETHPERP	+0.0113%	8h	2,771.4	−0.056%	$8.6M	$671.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0128%	8h	2,772.6	−0.012%	$32.5M	$11.8M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0147%	1h	2,771.4	−0.056%	$259.0M	$223.4M	50x	as long as short
BloFin ETH-USDT	+0.0163%	8h	2,769	−0.142%	$286.4M	$197.5M	150x	as long as short
Reya ETHRUSDPERP	+0.0192%	1h	2,769.4	−0.128%	$7.5M	$992K	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0240%	1h	2,770.8	−0.078%	$88.5M	$331.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0376%	1h	2,771.8	−0.043%	$273K	$1.5M	20x	as long as short