Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.039%

Price spread now: ApeX Omni against MEXC−0.624%7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$460.456% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 3 days (all we have)+0.926%+$93 · spread now −0.624%, 7d avg +0.050%

Together, before fees+0.997%+$100 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 0.674% cheaper against MEXC than usual: you would sell low and buy high, −$67 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC OP_USDT	0.1266	0.0100	pay 0.0100% / 8h	2h 23m	$20.2M	$7.3M	300x
Short	ApeX Omni OPUSDT	0.1258	0.0100	get 0.0013% / 1h	23m 19s	$45K	$719K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now −0.624%Rate

Funding earned: $0
Price spread: −0.624% → +0.050%: −$67.44
Slippage, 4 orders: −$35.57
Fee MEXC: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$113.01
Costs to cover: 0.456%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; ApeX Omni: live order book, 65 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 MEXC live order book, 5 min ago	0.40 bp	3.7 bp −$4	9.2 bp −$92	60.1 bp −$6,011	122.5 bp −$61.3K
Sell ApeX Omni live order book, 65 min ago	11.99 bp	19.5 bp −$20	121.8 bp −$1,218	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	−0.1658%	1h	0.1261	−0.387%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1066% / S +0.0229%	1h	0.1267	+0.058%	$13K	—	100x	as long as short
Coinbase International OP-PERP-INTX	−0.0328%	1h	0.1243	−1.809%	$21K	$64K	50x	as long as short
dYdX OP-USD	0.0000%	1h	0.1266	+0.003%	$39K	$519	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1267	+0.087%	$42K	$171K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1267	+0.106%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0035%	8h	0.1266	+0.008%	$6K	$50K	10x	as long as short
Variational Omni OP	+0.0039%	8h	0.1263	−0.197%	$230K	$44K	—	as long as short
Lighter OP	+0.0096%	1h	0.1267	+0.079%	$272K	$907K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1268	+0.134%	$4.1M	$3.0M	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	0.1267	+0.097%	$213K	$241K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1266	+0.017%	$20.5M	$62.6M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1266	−0.016%	$18.4M	$25.3M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1266	−0.024%	$5.9M	$29.9M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1266	+0.024%	$1.8M	$1.5M	50x	as long as short
MEXC OP_USDTlong	+0.0100%	8h	0.1266	long leg	$20.2M	$7.3M	300x
KuCoin OPUSDTM	+0.0100%	8h	0.1266	+0.008%	$2.9M	$7.5M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1267	+0.087%	$6.0M	$6.2M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1266	+0.008%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1265	−0.032%	$128K	$192K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1259	−0.583%	$10K	$377K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1262	−0.307%	$312K	$5.1M	10x	as long as short
ApeX Omni OPUSDTshort	+0.0100%	1h	0.1258	−0.624%	$45K	$719K	50x
SoDEX OP-USD	+0.0100%	1h	0.1266	+0.024%	$169	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1266	+0.032%	$175K	$234K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1266	−0.009%	$101K	$186K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1267	+0.056%	$4K	—	3x	as long as short
Kraken Futures PF_OPUSD	+0.0136%	1h	0.1267	+0.108%	$783K	$731K	20x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1266	0.000%	$1.0M	$282K	75x	as long as short
Reya OPRUSDPERP	+0.0436%	1h	0.1266	−0.027%	$704	—	20x	as long as short