Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0050%/8h= −5.4% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against BingX−0.039%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1321.324% of the position

Long on BingX Short on ApeX Omni

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)+0.126%+$13 · spread now −0.039%, 7d avg +0.004%

Together, before fees+0.126%+$13 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 0.044% cheaper against BingX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LAYER-USDT	0.07643	0.0150	pay 0.0075% / 4h	1h 56m	—	$1.6M	—
Short	ApeX Omni LAYERUSDT	0.07640	0.0100	get 0.0013% / 1h	56m 55s	$26K	$185K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now −0.039%Rate

Funding earned: −$10.42
Price spread: −0.039% → +0.004%: −$4.35
Slippage, 4 orders: −$112.42
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$147.19
Costs to cover: 1.324%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; ApeX Omni: live order book, 24 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 BingX live order book, 4 min ago	5.24 bp	23.2 bp −$23	105.2 bp −$1,052	546.0 bp −$54.6K	746.5 bp −$373.3K
Sell ApeX Omni live order book, 24 min ago	13.07 bp	38.5 bp −$39	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	0.07635	−0.107%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.828%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0061%	4h	0.07631	−0.157%	$114K	$12K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07645	+0.021%	$587K	$163K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07635	−0.103%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07636	−0.091%	$2.1M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07638	−0.065%	$700K	$656K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07635	−0.105%	$137K	$54K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07634	−0.118%	$352K	$112K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07636	−0.092%	$1.1M	$163K	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 LAYERUSDTshort	+0.0100%	1h	0.07640	−0.039%	$26K	$185K	50x
Extended LAYER-USD	+0.0104%	1h	0.07634	−0.117%	$2K	$174K	5x	as long as short
BingX LAYER-USDTlong	+0.0150%	4h	0.07643	long leg	—	$1.6M	—