Funding arb · Price arb /

OP

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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: BingX against ApeX Omni+0.031%7-day average −0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$600.598% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 3 days (all we have)−0.217%−$22 · spread now +0.031%, 7d avg −0.082%

Together, before fees−0.215%−$21 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: BingX is 0.113% dearer against ApeX Omni than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni OPUSDT	0.1279	0.0100	pay 0.0013% / 1h	29m 18s	$46K	$722K	50x
Short	BingX OP-USDT	0.1279	0.0100	get 0.0100% / 8h	29m 18s	—	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.031%Rate

Funding earned: $0
Price spread: +0.031% → −0.082%: $11.31
Slippage, 4 orders: −$39.75
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$48.44
Costs to cover: 0.598%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 49 min ago; BingX: live order book, 8 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, 49 min ago	11.72 bp	21.6 bp −$22	124.6 bp −$1,246	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	0.39 bp	9.8 bp −$10	15.2 bp −$152	70.6 bp −$7,060	346.8 bp −$173.4K

OP on 30 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
Injective OP/USDC PERP	−0.1633%	1h	0.1272	−0.547%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1280	+0.103%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	0.1276	−0.235%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1279	+0.038%	$40K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1281	+0.156%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1280	+0.100%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0064%	8h	0.1281	+0.156%	$6K	$50K	10x	as long as short
Variational Omni OP	+0.0074%	8h	0.1279	−0.039%	$234K	$54K	—	as long as short
Lighter OP	+0.0096%	1h	0.1280	+0.109%	$285K	$928K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1281	+0.172%	$4.1M	$2.9M	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDT	+0.0100%	8h	0.1280	+0.072%	$214K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1281	+0.123%	$20.7M	$61.7M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1280	+0.078%	$18.6M	$25.7M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1281	+0.133%	$6.1M	$30.5M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1280	+0.055%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1280	+0.070%	$20.2M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1280	+0.078%	$2.9M	$7.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1282	+0.235%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDTshort	+0.0100%	8h	0.1279	+0.031%	—	$6.8M	—
Backpack OP_USDC_PERP	+0.0100%	1h	0.1279	−0.016%	$124K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1279	−0.031%	$10K	$384K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1279	−0.028%	$320K	$5.0M	10x	as long as short
ApeX Omni OPUSDTlong	+0.0100%	1h	0.1279	long leg	$46K	$722K	50x
SoDEX OP-USD	+0.0100%	1h	0.1281	+0.172%	$193	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1279	+0.023%	$177K	$235K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1281	+0.124%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1281	+0.181%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1279	+0.031%	$1.0M	$281K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0357%	1h	0.1282	+0.239%	$804K	$748K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1280	+0.054%	$712	—	20x	as long as short