Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.061%

Price spread now: ApeX Omni against BloFin−0.290%7-day average +0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$190as in the Funding arb table

Net, price: spread back to 7d avg − costs−$207as in the Price arb table

costs, in and out, $10k−$1691.691% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+2.043%+$204 · spread now −0.290%, 7d avg +0.088%

Together, before fees+1.830%+$183 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and ApeX Omni is 0.378% cheaper against BloFin than usual: you would sell low and buy high (−$38 if the spread goes back to its 7-day average of +0.088%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin S-USDT	0.04132	0.0340	pay 0.0170% / 4h	1h 13m	$284K	$105K	75x
Short	ApeX Omni SUSDT	0.04120	0.0100	get 0.0013% / 1h	13m 13s	$25K	$450K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.290%Rate

Funding earned: −$50.4
Price spread: −0.290% → +0.088%: −$37.81
Slippage, 4 orders: −$147.15
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$257.35
Costs to cover: 1.691%
Break-even: never at this rate

Slippage from BloFin: live order book, 26 min ago; ApeX Omni: live order book, 49 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 BloFin live order book, 26 min ago	2.44 bp	23.5 bp −$24	55.4 bp −$554	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 49 min ago	36.90 bp	63.0 bp −$63	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
01 Exchange SUSD	−1.1728%	1h	0.03970	−3.921%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1670%	1h	0.04113	−0.453%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−2.662%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04121	−0.261%	$1K	—	100x	as long as short
Variational Omni S	−0.0114%	4h	0.04135	+0.077%	$641K	$31K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04128	−0.090%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04123	−0.219%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−0.774%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0069%	4h	0.04123	−0.218%	$102K	$330K	10x	as long as short
Lighter S	+0.0096%	1h	0.04121	−0.266%	$172K	$157K	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	0.04130	−0.039%	$1.0M	$557K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04131	−0.032%	$45K	$133K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04116	−0.391%	$5.7M	$13.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04113	−0.460%	$5.9M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04115	−0.411%	$1.1M	$4.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04132	0.000%	$340K	$201K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04118	−0.339%	$4.0M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04116	−0.387%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04119	−0.315%	$1.2M	$2.1M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04126	−0.145%	—	$6.7M	—	as long as short
ApeX Omni SUSDTshort	+0.0100%	1h	0.04120	−0.290%	$25K	$450K	50x
Extended S-USD	+0.0104%	1h	0.04117	−0.352%	$232K	$1.1M	10x	as long as short
BloFin S-USDTlong	+0.0340%	4h	0.04132	long leg	$284K	$105K	75x
Deribit S_USDC-PERPETUAL	+0.0721%	1h	0.04122	−0.242%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1597%	1h	0.04130	−0.048%	$122K	$373K	5x	as long as short