Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: ApeX Omni against Bybit+0.714%79s7-day average +0.128% · you sell dearer than you buy

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−$1861.861% of the position

Long on Bybit Short on ApeX Omni

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)−0.239%−$24 · spread now +0.714%, 7d avg +0.128%

Together, before fees−0.224%−$22 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 0.586% dearer against Bybit than usual: you sell high and buy low, +$59 on $10k if it goes back to its 7-day average of +0.128%. The two prices were read 79 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	Bybit SUSDT	0.03922	0.0100	pay 0.0050% / 4h	2h 38m	$5.6M	$4.4M	50x
Short	ApeX Omni SUSDT	0.03950	0.0100	get 0.0013% / 1h	38m 19s	$4K	$472K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.714%Rate

Funding earned: $0
Price spread: +0.714% → +0.128%: $58.59
Slippage, 4 orders: −$165.11
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$127.53
Costs to cover: 1.861%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; ApeX Omni: live order book, 9 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 Bybit live order book, 4 min ago	2.54 bp	26.7 bp −$27	80.4 bp −$804	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 9 min ago	25.25 bp	79.5 bp −$80	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	−0.8432%	1h	0.03850	−1.836%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1854%	1h	0.03923	+0.035%	$32K	$14K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1232%	1h	0.03919	−0.076%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03930	+0.207%	$1K	—	100x	as long as short
Variational Omni S	−0.0119%	4h	0.03931	+0.227%	$611K	$30K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03926	+0.094%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03929	+0.168%	$605	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.539%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0083%	4h	0.03928	+0.153%	$98K	$480K	10x	as long as short
Lighter S	+0.0096%	1h	0.03931	+0.229%	$167K	$138K	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	0.03929	+0.171%	$987K	$589K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03929	+0.185%	$46K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03926	+0.104%	$5.5M	$13.6M	75x	as long as short
Bybit SUSDTlong	+0.0100%	4h	0.03922	long leg	$5.6M	$4.4M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.03927	+0.127%	$966K	$3.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03921	−0.025%	$319K	$183K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03927	+0.127%	$3.6M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03930	+0.204%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03929	+0.178%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03925	+0.076%	—	$6.8M	—	as long as short
ApeX Omni SUSDTshort	+0.0100%	1h	0.03950	+0.714%	$4K	$472K	50x
Extended S-USD	+0.0104%	1h	0.03925	+0.082%	$221K	$594K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03919	−0.076%	$269K	$106K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0514%	1h	0.03932	+0.255%	$66K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1933%	1h	0.03930	+0.204%	$114K	$426K	5x	as long as short