Funding arb · Price arb /

ETH

all ETH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0019%/8h= −2.0% APRpaid last 24h −0.015%

Price spread now: ApeX Omni against MEXC−0.092%66s7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as 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−$130.127% of the position

Long on MEXC Short on ApeX Omni

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+0.078%+$8 · spread now −0.092%, 7d avg +0.006%

Together, before fees+0.001%$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and ApeX Omni is 0.098% cheaper against MEXC than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.006%). Swap the legs. The two prices were read 66 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	MEXC ETH_USDT	2,771.8	0.0051	pay 0.0051% / 8h	2h 02m	$1.59B	$2.69B	500x
Short	ApeX Omni ETHUSDT	2,769.3	0.0032	get 0.0004% / 1h	2m 16s	$8.7M	$32.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now −0.092%Rate

Funding earned: −$3.92
Price spread: −0.092% → +0.006%: −$9.81
Slippage, 4 orders: −$0.71
Fee MEXC: 1 bp × 2 orders: −$2
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$26.45
Costs to cover: 0.127%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; ApeX Omni: live order book, 2 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 MEXC live order book, 2 min ago	0.02 bp	1.0 bp −$1	1.1 bp −$11	1.6 bp −$162	4.1 bp −$2,074
Sell ApeX Omni live order book, 2 min ago	0.31 bp	5.4 bp −$5	7.0 bp −$70	19.4 bp −$1,940	74.4 bp −$37.2K

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	−0.0112%	43m	2,771.4	−0.017%	$289K	$6.9M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0107%	1h	2,776.2	+0.158%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,771.4	−0.015%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0056%	1h	2,771.4	−0.015%	$170K	$1.2M	50x	as long as short
Phoenix ETH	−0.0023%	1h	2,770.9	−0.033%	$884K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,771.9	+0.003%	$5.7M	$12.1M	25x	as long as short
Aftermath Perps ETHUSD	0.0000%	1h	2,771.7	−0.003%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,771.8	−0.001%	$12.7M	$45.5M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,772.5	+0.025%	$22.4M	—	200x	as long as short
BingX ETH-USDT	+0.0018%	8h	2,771.7	−0.006%	—	$1.19B	—	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	2,771.6	−0.009%	$1.71B	$11.89B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0028% / S +0.0009%	1h	2,772.4	+0.023%	$13.2M	—	200x	as long as short
Phemex ETHUSDT	+0.0029%	8h	2,771.3	−0.019%	$266.9M	$66.0M	150x	as long as short
ApeX Omni ETHUSDTshort	+0.0032%	1h	2,769.3	−0.092%	$8.7M	$32.6M	100x
Aster ETHUSDT	+0.0033%	8h	2,771.5	−0.010%	$256.3M	$995.5M	200x	as long as short
Aevo ETH-PERP	+0.0048%	1h	2,768.8	−0.109%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDTlong	+0.0051%	8h	2,771.8	long leg	$1.59B	$2.69B	500x
Binance ETHUSDT	+0.0052%	8h	2,771.8	+0.001%	$6.44B	$17.23B	150x	as long as short
Bullet ETH-USD	+0.0073%	1h	2,771.5	−0.011%	$182K	$1.8M	20x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,770.2	−0.057%	$2.10B	$3.13B	150x	as long as short
Gate ETH_USDT	+0.0077%	8h	2,771.7	−0.004%	$3.28B	$9.70B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,771	−0.029%	$114.6M	$515.8M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772.1	+0.011%	$25.4M	$123.4M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,771.8	−0.002%	—	$41.8M	500x	as long as short
HTX ETH-USDT	+0.0097%	8h	2,770.5	−0.047%	$1.08B	$1.32B	200x	as long as short
Variational Omni ETH	+0.0098%	8h	2,768.9	−0.104%	$141.0M	$320.9M	—	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,771.6	−0.007%	$15.9M	$10.8M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,771.9	+0.003%	$482K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,771.3	−0.018%	$14.4M	$118.8M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,773.7	+0.068%	$3.19B	$2.40B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,771.9	+0.005%	$31.2M	$291.4M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,771.5	−0.010%	$2.51B	$4.64B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,770.8	−0.036%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,773.6	+0.065%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,770.6	−0.045%	$164.9M	$252.7M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,771.5	−0.011%	$422.2M	$742.1M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,771.5	−0.011%	$15.4M	$42.9M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,769.2	−0.095%	$179.4M	$782.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,769.7	−0.077%	$161.1M	$96.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.8	0.000%	$21.4M	$57.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,772.1	+0.011%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,773	+0.043%	$10.8M	$7.8M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,772	+0.005%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,773.2	+0.051%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,770.9	−0.033%	$972K	$14.1M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,770.2	−0.058%	$55.2M	$228.6M	40x	as long as short
Extended ETH-USD	+0.0104%	1h	2,769.7	−0.075%	$31.4M	$75.4M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,771.8	−0.001%	$59.9M	$4.62B	50x	as long as short
Kalshi KXETHPERP	+0.0108%	8h	2,772.5	+0.025%	$8.5M	$673.8M	4.9x	as long as short
Deribit ETH-PERPETUAL	+0.0125%	1h	2,772.4	+0.020%	$258.5M	$225.1M	50x	as long as short
Orderly PERP_ETH_USDC	+0.0136%	8h	2,774.6	+0.100%	$32.6M	$12.0M	100x	as long as short
BloFin ETH-USDT	+0.0172%	8h	2,771	−0.030%	$286.1M	$195.7M	150x	as long as short
Reya ETHRUSDPERP	+0.0186%	1h	2,771.7	−0.004%	$7.3M	$1.1M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0240%	1h	2,771.6	−0.008%	$86.1M	$331.7M	100x	as long as short
Hibachi ETH/USDT-P	+0.0472%	1h	2,771.8	+0.001%	$285K	$1.5M	20x	as long as short