Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0042%/8h= −4.6% APRpaid last 24h +0.002%

Price spread now: ApeX Omni against BloFin+0.314%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$1381.377% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 4 days (all we have)−0.222%−$22 · spread now +0.314%, 7d avg +0.048%

Together, before fees−0.178%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.267% dearer against BloFin than usual: you sell high and buy low (spread +0.314% now, against its 7-day average of +0.048%): +$27 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 21 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LAYER-USDT	0.07636	0.0142	pay 0.0071% / 4h	2h 41m	$114K	$15K	50x
Short	ApeX Omni LAYERUSDT	0.07660	0.0100	get 0.0013% / 1h	41m 17s	$19K	$193K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now +0.314%Rate

Funding earned: −$8.84
Price spread: +0.314% → +0.048%: $26.67
Slippage, 4 orders: −$115.74
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$119.91
Costs to cover: 1.377%
Break-even: never at this rate

Slippage from BloFin: live order book, 37 min ago; ApeX Omni: live order book, 5 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 BloFin live order book, 37 min ago	7.80 bp	26.0 bp −$26	98.3 bp −$983	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 5 min ago	13.04 bp	49.6 bp −$50	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	−0.0416%	1h	0.07632	−0.047%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.741%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07644	+0.103%	$593K	$162K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07628	−0.106%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07628	−0.103%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07630	−0.079%	$711K	$660K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07645	+0.118%	$141K	$41K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07635	−0.013%	$371K	$130K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07633	−0.039%	$1.1M	$114K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07635	−0.013%	—	$1.6M	—	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	0.07660	+0.314%	$19K	$193K	50x
Extended LAYER-USD	+0.0104%	1h	0.07629	−0.090%	$4K	$208K	5x	as long as short
BloFin LAYER-USDTlong	+0.0142%	4h	0.07636	long leg	$114K	$15K	50x