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: HTX against ApeX Omni−0.212%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$810.807% of the position

Long on ApeX Omni Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 3 days (all we have)+0.307%+$31 · spread now −0.212%, 7d avg −0.024%

Together, before fees+0.311%+$31 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: HTX is 0.187% cheaper against ApeX Omni than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni OPUSDT	0.1275	0.0100	pay 0.0013% / 1h	56m 35s	$46K	$721K	50x
Short	HTX OP-USDT	0.1272	0.0100	get 0.0100% / 8h	7h 56m	$176K	$234K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.212%Rate

Funding earned: $0
Price spread: −0.212% → −0.024%: −$18.73
Slippage, 4 orders: −$58.74
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$99.47
Costs to cover: 0.807%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 17 min ago; HTX: live order book, 15 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, 17 min ago	7.86 bp	16.7 bp −$17	116.4 bp −$1,164	doesn't fit	doesn't fit
Sell HTX live order book, 15 min ago	7.85 bp	31.2 bp −$31	doesn't fit	doesn't fit	doesn't fit

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	−0.1656%	1h	0.1265	−0.784%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1272	−0.212%	$13K	—	100x	as long as short
Deribit OP_USDC-PERPETUAL	−0.0536%	1h	0.1271	−0.314%	$42K	$171K	25x	as long as short
Coinbase International OP-PERP-INTX	−0.0352%	1h	0.1270	−0.392%	$21K	$65K	50x	as long as short
Bybit OPUSDT	−0.0107%	8h	0.1271	−0.337%	$18.5M	$26.1M	75x	as long as short
dYdX OP-USD	0.0000%	1h	0.1272	−0.269%	$39K	$519	10x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1272	−0.235%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0059%	8h	0.1271	−0.314%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0061%	8h	0.1273	−0.135%	$232K	$47K	—	as long as short
Lighter OP	+0.0096%	1h	0.1272	−0.267%	$289K	$939K	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1272	−0.204%	$4.1M	$2.9M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1272	−0.236%	$212K	$236K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1271	−0.282%	$20.6M	$62.0M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1271	−0.282%	$6.0M	$30.2M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1272	−0.275%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1271	−0.329%	$20.0M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1271	−0.314%	$2.9M	$7.3M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1272	−0.235%	$6.1M	$6.4M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1271	−0.314%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1271	−0.345%	$123K	$189K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1274	−0.117%	$9K	$382K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1275	−0.001%	$323K	$4.8M	10x	as long as short
ApeX Omni OPUSDTlong	+0.0100%	1h	0.1275	long leg	$46K	$721K	50x
SoDEX OP-USD	+0.0100%	1h	0.1271	−0.290%	$183	$6K	5x	as long as short
HTX OP-USDTshort	+0.0100%	8h	0.1272	−0.212%	$176K	$234K	50x
Extended OP-USD	+0.0104%	1h	0.1271	−0.325%	$102K	$182K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1272	−0.247%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1271	−0.322%	$1.0M	$277K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0381%	1h	0.1273	−0.151%	$801K	$750K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1271	−0.332%	$707	—	20x	as long as short