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 0.000%

Price spread now: ApeX Omni against BingX−0.319%53s7-day average +0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$185as 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−$1851.853% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+1.188%+$119 · spread now −0.319%, 7d avg +0.066%

Together, before fees+1.191%+$119 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: ApeX Omni is 0.386% cheaper against BingX than usual: you would sell low and buy high, −$39 on $10k if it goes back to its 7-day average of +0.066%. The two prices were read 53 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	BingX S-USDT	0.04073	0.0100	pay 0.0050% / 4h	2h 30m	—	$6.7M	—
Short	ApeX Omni SUSDT	0.04060	0.0100	get 0.0013% / 1h	30m 40s	$26K	$452K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now −0.319%Rate

Funding earned: $0
Price spread: −0.319% → +0.066%: −$38.56
Slippage, 4 orders: −$165.33
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$223.89
Costs to cover: 1.853%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; ApeX Omni: live order book, 37 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 BingX live order book, 2 min ago	4.91 bp	23.5 bp −$24	64.8 bp −$648	431.1 bp −$43.1K	720.9 bp −$360.4K
Sell ApeX Omni live order book, 37 min ago	25.00 bp	49.1 bp −$49	doesn't fit	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	−0.7560%	1h	0.03940	−3.265%	$24K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1464%	1h	0.04022	−1.252%	$48K	$16K	25x	as long as short
Kraken Futures PF_SUSD	−0.1245%	1h	0.04070	−0.081%	$35K	$16K	10x	as long as short
Variational Omni S	−0.0504%	4h	0.04066	−0.175%	$633K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04076	+0.069%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04072	−0.021%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04075	+0.054%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.663%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0042%	4h	0.04074	+0.025%	$103K	$337K	10x	as long as short
Lighter S	+0.0096%	1h	0.04079	+0.147%	$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	0.04076	+0.081%	$1.0M	$572K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04074	+0.036%	$45K	$135K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04074	+0.025%	$5.6M	$15.0M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04069	−0.098%	$5.8M	$4.8M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04076	+0.074%	$1.0M	$4.3M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04070	−0.074%	$337K	$203K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04075	+0.049%	$4.0M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04074	+0.025%	$1.9M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04075	+0.049%	$1.2M	$2.4M	50x	as long as short
BingX S-USDTlong	+0.0100%	4h	0.04073	long leg	—	$6.7M	—
ApeX Omni SUSDTshort	+0.0100%	1h	0.04060	−0.319%	$26K	$452K	50x
Extended S-USD	+0.0104%	1h	0.04071	−0.038%	$231K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0486%	1h	0.04078	+0.123%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1079%	1h	0.04080	+0.172%	$122K	$345K	5x	as long as short