Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.061%

Price spread now: BloFin against ApeX Omni+0.275%103s7-day average −0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1801.805% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.213%+$21 on $10k

Price spread, last 3 days (all we have)−0.663%−$66 · spread now +0.275%, 7d avg −0.086%

Together, before fees−0.450%−$45 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.361% dearer against ApeX Omni than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of −0.086%. The two prices were read 103 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 SUSDT	0.04000	0.0100	pay 0.0013% / 1h	49m 37s	$26K	$448K	50x
Short	BloFin S-USDT	0.04011	0.0340	get 0.0170% / 4h	2h 49m	$272K	$121K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.275%Rate

Funding earned: $50.4
Price spread: +0.275% → −0.086%: $36.15
Slippage, 4 orders: −$158.46
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$93.91
Costs to cover: 1.805%
Break-even: 20.0 days

Slippage from ApeX Omni: live order book, 18 min ago; BloFin: live order book, 12 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, 18 min ago	25.00 bp	91.1 bp −$91	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 12 min ago	1.25 bp	19.7 bp −$20	44.2 bp −$442	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	−0.5896%	1h	0.03840	−4.000%	$24K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1464%	1h	0.03946	−1.350%	$49K	$5K	25x	as long as short
Kraken Futures PF_SUSD	−0.1258%	1h	0.04026	+0.660%	$34K	$23K	10x	as long as short
Variational Omni S	−0.0587%	4h	0.04005	+0.134%	$623K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04018	+0.460%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04015	+0.378%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04018	+0.451%	$619	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.500%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0039%	4h	0.04018	+0.450%	$101K	$334K	10x	as long as short
Lighter S	+0.0096%	1h	0.04022	+0.550%	$165K	$165K	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	0.04022	+0.540%	$1.0M	$610K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04022	+0.543%	$44K	$137K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04020	+0.500%	$5.5M	$15.4M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04019	+0.475%	$5.7M	$4.9M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04023	+0.575%	$1.0M	$4.4M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04021	+0.525%	$331K	$199K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04020	+0.500%	$3.8M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04022	+0.550%	$1.9M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04022	+0.550%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04021	+0.525%	—	$6.7M	—	as long as short
ApeX Omni SUSDTlong	+0.0100%	1h	0.04000	long leg	$26K	$448K	50x
Extended S-USD	+0.0104%	1h	0.04020	+0.501%	$226K	$1.1M	10x	as long as short
BloFin S-USDTshort	+0.0340%	4h	0.04011	+0.275%	$272K	$121K	75x
Backpack S_USDC_PERP	+0.0829%	1h	0.04030	+0.750%	$117K	$333K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.0994%	1h	0.04025	+0.625%	$68K	$10K	10x	as long as short