Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bitget against ApeX Omni−0.608%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$178as in the Funding arb table

Net, price: spread back to 7d avg − costs−$231as in the Price arb table

costs, in and out, $10k−$1711.710% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 4 days (all we have)+0.232%+$23 · spread now −0.608%, 7d avg −0.007%

Together, before fees+0.159%+$16 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: Bitget is 0.600% cheaper against ApeX Omni than usual: you would sell low and buy high, −$60 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SUSDT	0.03950	0.0100	pay 0.0013% / 1h	39m 02s	$4K	$472K	50x
Short	Bitget SUSDT	0.03926	0.0100	get 0.0050% / 4h	2h 39m	$1.2M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.608%Rate

Funding earned: $0
Price spread: −0.608% → −0.007%: −$60.04
Slippage, 4 orders: −$148.96
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$231.01
Costs to cover: 1.710%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 9 min ago; Bitget: live order book, 3 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, 9 min ago	25.25 bp	53.7 bp −$54	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	6.34 bp	19.5 bp −$20	56.9 bp −$569	doesn't fit	doesn't fit

S on 25 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
01 Exchange SUSD	−0.8560%	1h	0.03840	−2.785%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1856%	1h	0.03918	−0.807%	$32K	$14K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1232%	1h	0.03919	−0.785%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03927	−0.580%	$1K	—	100x	as long as short
Variational Omni S	−0.0119%	4h	0.03931	−0.484%	$611K	$30K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03919	−0.793%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03927	−0.592%	$605	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.797%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0083%	4h	0.03924	−0.658%	$97K	$475K	10x	as long as short
Lighter S	+0.0096%	1h	0.03929	−0.532%	$166K	$138K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03925	−0.638%	$986K	$589K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03926	−0.610%	$46K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03926	−0.610%	$5.5M	$13.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03918	−0.810%	$5.6M	$4.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03921	−0.734%	$965K	$3.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03918	−0.810%	$319K	$183K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03925	−0.633%	$3.6M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03924	−0.658%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDTshort	+0.0100%	4h	0.03926	−0.608%	$1.2M	$2.3M	50x
BingX S-USDT	+0.0100%	4h	0.03921	−0.734%	—	$6.8M	—	as long as short
ApeX Omni SUSDTlong	+0.0100%	1h	0.03950	long leg	$4K	$472K	50x
Extended S-USD	+0.0104%	1h	0.03922	−0.703%	$221K	$595K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0259%	1h	0.03929	−0.532%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03919	−0.785%	$269K	$106K	75x	as long as short
Backpack S_USDC_PERP	+0.1933%	1h	0.03930	−0.506%	$114K	$426K	5x	as long as short