Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.057%

Price spread now: OKX against ApeX Omni−0.406%7-day average −0.101% · you buy dearer than you sell

Net, funding: paid 7d − costs−$219as in the Funding arb table

Net, price: spread back to 7d avg − costs−$227as in the Price arb table

costs, in and out, $10k−$1971.969% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.220%−$22 on $10k

Price spread, last 3 days (all we have)−0.133%−$13 · spread now −0.406%, 7d avg −0.101%

Together, before fees−0.353%−$35 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: OKX is 0.305% cheaper against ApeX Omni than usual: you would sell low and buy high, −$31 on $10k if it goes back to its 7-day average of −0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SUSDT	0.03940	0.0100	pay 0.0013% / 1h	34m 46s	$25K	$465K	50x
Short	OKX S-USDT-SWAP	0.03924	0.0100	get 0.0050% / 4h	1h 34m	$979K	$6.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.406%Rate

Funding earned: $0
Price spread: −0.406% → −0.101%: −$30.5
Slippage, 4 orders: −$176.9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$227.4
Costs to cover: 1.969%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 48 min ago; OKX: 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, 48 min ago	25.51 bp	56.5 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	2.54 bp	36.4 bp −$36	doesn't fit	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
Kraken Futures PF_SUSD	−0.1591%	1h	0.03929	−0.287%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.893%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0880%	4h	0.03922	−0.456%	$610K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0195% / S +0.0188%	1h	0.03930	−0.261%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03926	−0.347%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03930	−0.254%	$606	—	150x	as long as short
Orderly PERP_S_USDC	+0.0025%	4h	0.03930	−0.254%	$100K	$346K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.061%	$2K	$37K	12x	as long as short
01 Exchange SUSD	+0.0048%	1h	0.03930	−0.254%	$24K	$2K	5x	as long as short
Aster SUSDT	+0.0074%	4h	0.03927	−0.329%	$43K	$212K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03931	−0.228%	$165K	$222K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03925	−0.371%	$985K	$757K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03925	−0.375%	$5.4M	$19.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03921	−0.482%	$5.6M	$5.8M	50x	as long as short
OKX S-USDT-SWAPshort	+0.0100%	4h	0.03924	−0.406%	$979K	$6.2M	20x
Gate S_USDT	+0.0100%	4h	0.03930	−0.254%	$321K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03925	−0.381%	$3.6M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03921	−0.482%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03927	−0.330%	$1.2M	$2.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03924	−0.406%	—	$6.8M	—	as long as short
ApeX Omni SUSDTlong	+0.0100%	1h	0.03940	long leg	$25K	$465K	50x
Extended S-USD	+0.0104%	1h	0.03924	−0.404%	$221K	$881K	10x	as long as short
Backpack S_USDC_PERP	+0.0335%	1h	0.03930	−0.254%	$114K	$300K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03941	+0.025%	$268K	$127K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0768%	1h	0.03934	−0.152%	$66K	$10K	10x	as long as short