Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Hyperliquid against ApeX Omni+0.248%7-day average +0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$185as in the Funding arb table

Net, price: spread back to 7d avg − costs−$170as in the Price arb table

costs, in and out, $10k−$1851.845% of the position

Long on ApeX Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.226%−$23 · spread now +0.248%, 7d avg +0.098%

Together, before fees−0.225%+ Points / potential airdropHyperliquid: Season 2 · farm board−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.150% dearer against ApeX Omni than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.098%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni LAYERUSDT	0.07620	0.0100	pay 0.0013% / 1h	24m 49s	$26K	$185K	50x
Short	Hyperliquid LAYER	0.07639	0.0100	get 0.0013% / 1h	24m 49s	$589K	$165K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.248%Rate

Funding earned: $0
Price spread: +0.248% → +0.098%: $14.96
Slippage, 4 orders: −$165.53
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$169.58
Costs to cover: 1.845%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 56 min ago; Hyperliquid: live order book, 55 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, 56 min ago	13.07 bp	48.6 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 55 min ago	2.68 bp	56.3 bp −$56	doesn't fit	doesn't fit	doesn't fit

LAYER on 13 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
Kraken Futures PF_LAYERUSD	−0.0448%	1h	0.07640	+0.262%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.541%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0093%	4h	0.07635	+0.197%	$113K	$12K	50x	as long as short
Hyperliquid LAYERshort	+0.0100%	1h	0.07639	+0.248%	$589K	$165K	3x
Aster LAYERUSDT	+0.0100%	4h	0.07633	+0.177%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07638	+0.235%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07632	+0.157%	$702K	$661K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07637	+0.223%	$136K	$55K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07636	+0.210%	$352K	$114K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07633	+0.171%	$1.1M	$167K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDTlong	+0.0100%	1h	0.07620	long leg	$26K	$185K	50x
Extended LAYER-USD	+0.0104%	1h	0.07632	+0.164%	$2K	$174K	5x	as long as short
BingX LAYER-USDT	+0.0176%	4h	0.07643	+0.302%	—	$1.6M	—	as long as short