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 +0.020%

Price spread now: ApeX Omni against GRVT−0.138%7-day average +0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$730.729% of the position

Long on GRVT Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 3 days (all we have)+0.149%+$15 · spread now −0.138%, 7d avg +0.076%

Together, before fees+0.166%+ Points / potential airdropGRVT: Active · farm board+$17 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: ApeX Omni is 0.214% cheaper against GRVT than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT OP_USDT_Perp	0.1273	0.0100	pay 0.0100% / 8h	5m 11s	$312K	$4.8M	10x
Short	ApeX Omni OPUSDT	0.1271	0.0100	get 0.0013% / 1h	5m 11s	$46K	$721K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against GRVT. 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 GRVTbpFee ApeX OmnibpOrdersPrice spread, now −0.138%Rate

Funding earned: $0
Price spread: −0.138% → +0.076%: −$21.38
Slippage, 4 orders: −$53.89
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$94.27
Costs to cover: 0.729%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; ApeX Omni: live order book, 9 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 GRVT live order book, 4 min ago	7.85 bp	18.5 bp −$19	35.7 bp −$357	3585.7 bp −$358.6K	doesn't fit
Sell ApeX Omni live order book, 9 min ago	7.86 bp	16.1 bp −$16	107.9 bp −$1,079	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	−0.1633%	1h	0.1266	−0.531%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1272	−0.022%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0344%	1h	0.1270	−0.216%	$21K	$65K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1274	+0.083%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1273	+0.019%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1273	+0.002%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0060%	8h	0.1272	−0.059%	$6K	$49K	10x	as long as short
Variational Omni OP	+0.0060%	8h	0.1270	−0.218%	$232K	$47K	—	as long as short
Lighter OP	+0.0096%	1h	0.1273	+0.035%	$289K	$963K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1274	+0.082%	$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	0.1273	−0.002%	$213K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1273	+0.018%	$20.6M	$61.9M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1271	−0.106%	$18.4M	$25.9M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1272	−0.036%	$6.0M	$30.3M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1273	+0.019%	$2.0M	$1.6M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1272	−0.044%	$20.1M	$7.3M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1272	−0.059%	$2.9M	$7.3M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1273	+0.019%	$6.1M	$6.3M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1272	−0.051%	—	$6.8M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1272	−0.051%	$123K	$188K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1271	−0.121%	$11K	$383K	10x	as long as short
GRVT OP_USDT_Perplong	+0.0100%	8h	0.1273	long leg	$312K	$4.8M	10x
ApeX Omni OPUSDTshort	+0.0100%	1h	0.1271	−0.138%	$46K	$721K	50x
SoDEX OP-USD	+0.0100%	1h	0.1272	−0.051%	$184	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1273	+0.059%	$176K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1272	−0.059%	$102K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1273	−0.020%	$4K	—	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1272	−0.099%	$1.0M	$279K	75x	as long as short
Kraken Futures PF_OPUSD	+0.0359%	1h	0.1274	+0.091%	$801K	$749K	20x	as long as short
Reya OPRUSDPERP	+0.0438%	1h	0.1273	−0.017%	$708	—	20x	as long as short