Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SoDEX against ApeX Omni+0.753%74s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on ApeX Omni Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.753% dearer against ApeX Omni than usual: you sell high and buy low, +$75 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 74 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 OPUSDT	0.1249	0.0100	pay 0.0013% / 1h	36m 06s	$43K	$703K	50x
Short	SoDEX OP-USD	0.1258	0.0100	get 0.0013% / 1h	36m 06s	$198	$6K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.753%Rate

Funding earned: $0
Price spread: +0.753% → 0.000%: $75.26
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $57.26
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: ApeX Omni: live order book, 13 min ago; SoDEX: no order-book sample. Net counts fees only.

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, 13 min ago	11.77 bp	20.2 bp −$20	122.3 bp −$1,223	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1583%	1h	0.1243	−0.480%	$34K	$59K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1259	+0.800%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1259	+0.785%	$39K	$532	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1259	+0.801%	$40K	$139K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1259	+0.825%	—	—	150x	as long as short
Variational Omni OP	+0.0026%	8h	0.1251	+0.132%	$221K	$48K	—	as long as short
Orderly PERP_OP_USDC	+0.0026%	8h	0.1258	+0.721%	$59K	$143K	10x	as long as short
Kraken Futures PF_OPUSD	+0.0074%	1h	0.1260	+0.866%	$764K	$619K	20x	as long as short
Lighter OP	+0.0096%	1h	0.1260	+0.865%	$291K	$987K	15x	as long as short
OKX OP-USDT-SWAP	+0.0098%	8h	0.1260	+0.865%	$6.2M	$28.8M	50x	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	0.1260	+0.905%	$3.5M	$2.8M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1260	+0.842%	$208K	$218K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1260	+0.866%	$19.9M	$63.7M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1259	+0.785%	$18.6M	$25.5M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1260	+0.841%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1260	+0.865%	$23.0M	$7.6M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1258	+0.721%	$2.9M	$6.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1259	+0.801%	$5.8M	$6.6M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1260	+0.865%	—	$6.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1259	+0.801%	$106K	$215K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1248	−0.087%	$378K	$769K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1247	−0.144%	$316K	$5.2M	10x	as long as short
ApeX Omni OPUSDTlong	+0.0100%	1h	0.1249	long leg	$43K	$703K	50x
SoDEX OP-USDshort	+0.0100%	1h	0.1258	+0.753%	$198	$6K	5x
HTX OP-USDT	+0.0100%	8h	0.1260	+0.905%	$173K	$236K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1258	+0.715%	$100K	$505K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1258	+0.743%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTX	+0.0160%	1h	0.1245	−0.320%	$26K	$60K	50x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1258	+0.713%	$1.0M	$277K	75x	as long as short
Reya OPRUSDPERP	+0.0442%	1h	0.1257	+0.680%	$699	—	20x	as long as short