Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against ApeX Omni−0.026%50s7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$169as 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−$1691.687% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 3 days (all we have)−0.109%−$11 · spread now −0.026%, 7d avg −0.077%

Together, before fees−0.113%−$11 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: OKX is 0.051% dearer against ApeX Omni than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.077%. The two prices were read 50 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	ApeX Omni LAYERUSDT	0.07650	0.0100	pay 0.0013% / 1h	32m 48s	$26K	$184K	50x
Short	OKX LAYER-USDT-SWAP	0.07648	0.0100	get 0.0050% / 4h	32m 48s	$706K	$667K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.026%Rate

Funding earned: $0
Price spread: −0.026% → −0.077%: $5.12
Slippage, 4 orders: −$148.72
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$163.6
Costs to cover: 1.687%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 43 min ago; OKX: live order book, 43 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, 43 min ago	19.65 bp	50.8 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 43 min ago	1.97 bp	34.7 bp −$35	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	−0.0546%	1h	0.07658	+0.101%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.915%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0082%	4h	0.07655	+0.065%	$113K	$12K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07664	+0.188%	$590K	$166K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07645	−0.063%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07652	+0.029%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAPshort	+0.0100%	4h	0.07648	−0.026%	$706K	$667K	20x
Gate LAYER_USDT	+0.0100%	4h	0.07652	+0.026%	$136K	$55K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07650	0.000%	$339K	$115K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07657	+0.092%	$1.1M	$165K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX LAYER-USDT	+0.0100%	4h	0.07659	+0.118%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDTlong	+0.0100%	1h	0.07650	long leg	$26K	$184K	50x
Extended LAYER-USD	+0.0104%	1h	0.07652	+0.020%	$2K	$174K	5x	as long as short