Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0058%/8h= −6.4% APRpaid last 24h −0.092%

Price spread now: Orderly against ApeX Omni−0.343%7-day average −0.046% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on ApeX Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.714%−$71 on $10k

Price spread, last 3 days (all we have)+0.025%+$2 · spread now −0.343%, 7d avg −0.046%

Together, before fees−0.689%−$69 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Orderly is 0.297% cheaper against ApeX Omni than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of −0.046%). Swap the legs.

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	29m 21s	$26K	$442K	50x
Short	Orderly PERP_S_USDC	0.04066	0.0042	get 0.0021% / 4h	2h 29m	$102K	$334K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.343%Rate

Funding earned: −$12.21
Price spread: −0.343% → −0.046%: −$29.69
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$57.91
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 38 min ago; Orderly: no order-book sample. Net counts fees only.

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, 38 min ago	25.00 bp	91.1 bp −$91	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.7728%	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	−0.1243%	1h	0.04078	−0.061%	$35K	$16K	10x	as long as short
Variational Omni S	−0.0504%	4h	0.04066	−0.346%	$633K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04067	−0.316%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04066	−0.340%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04068	−0.282%	$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_USDCshort	+0.0042%	4h	0.04066	−0.343%	$102K	$334K	10x
Lighter S	+0.0096%	1h	0.04083	+0.074%	$168K	$166K	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	0.04073	−0.167%	$1.0M	$572K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04071	−0.221%	$45K	$135K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04066	−0.349%	$5.6M	$14.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04060	−0.490%	$5.8M	$4.8M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04066	−0.343%	$1.0M	$4.2M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04067	−0.319%	$337K	$203K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04068	−0.294%	$4.0M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04070	−0.245%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04069	−0.270%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04066	−0.343%	—	$6.8M	—	as long as short
ApeX Omni SUSDTlong	+0.0100%	1h	0.04080	long leg	$26K	$442K	50x
Extended S-USD	+0.0104%	1h	0.04068	−0.297%	$231K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0730%	1h	0.04084	+0.098%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1074%	1h	0.04080	0.000%	$122K	$345K	5x	as long as short