Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: Bybit against ApeX Omni−0.098%59s7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$207as 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−$2062.056% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)−0.771%−$77 · spread now −0.098%, 7d avg −0.121%

Together, before fees−0.786%−$79 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: Bybit is 0.023% dearer against ApeX Omni than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.121%. The two prices were read 59 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	0.04080	0.0100	pay 0.0013% / 1h	8m 28s	$24K	$446K	50x
Short	Bybit SUSDT	0.04076	0.0100	get 0.0050% / 4h	2h 08m	$5.8M	$4.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.098%Rate

Funding earned: $0
Price spread: −0.098% → −0.121%: $2.25
Slippage, 4 orders: −$184.6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$203.35
Costs to cover: 2.056%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 59 min ago; Bybit: live order book, 4 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, 59 min ago	25.00 bp	91.1 bp −$91	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	2.46 bp	34.4 bp −$34	96.9 bp −$969	doesn't fit	doesn't fit

S on 24 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	−0.8888%	1h	0.03940	−3.431%	$24K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1464%	1h	0.04022	−1.422%	$48K	$16K	25x	as long as short
Kraken Futures PF_SUSD	−0.1246%	1h	0.04065	−0.375%	$34K	$16K	10x	as long as short
Variational Omni S	−0.0385%	4h	0.04068	−0.287%	$633K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04071	−0.211%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04081	+0.026%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04070	−0.246%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.490%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0052%	4h	0.04071	−0.221%	$101K	$331K	10x	as long as short
Lighter S	+0.0096%	1h	0.04075	−0.123%	$169K	$167K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04072	−0.199%	$1.0M	$562K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04071	−0.218%	$45K	$134K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04077	−0.080%	$5.6M	$14.6M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.04076	−0.098%	$5.8M	$4.7M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.04081	+0.025%	$1.0M	$4.2M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04068	−0.294%	$335K	$205K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04071	−0.221%	$4.0M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04071	−0.221%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04080	0.000%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04069	−0.270%	—	$6.7M	—	as long as short
ApeX Omni SUSDTlong	+0.0100%	1h	0.04080	long leg	$24K	$446K	50x
Extended S-USD	+0.0104%	1h	0.04070	−0.245%	$229K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0733%	1h	0.04075	−0.123%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.0933%	1h	0.04080	0.000%	$119K	$349K	5x	as long as short