Funding arb · Price arb /

TIA

all TIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0048%/8h= +5.2% APRpaid last 24h +0.024%

Price spread now: Orderly against ApeX Omni−0.443%70s7-day average 0.000% · 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+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.960%+$96 · spread now −0.443%, 7d avg 0.000%

Together, before fees+0.972%+$97 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.443% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.443% now, against its 7-day average of 0.000%). If the spread goes back, that is −$44 on $10k: about 31 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.012% in total) that is about 9 months. The two prices were read 70 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	ApeX Omni TIAUSDT	0.4514	0.0051	pay 0.0006% / 1h	8m 16s	$52K	$225K	50x
Short	Orderly PERP_TIA_USDC	0.4494	0.0098	get 0.0049% / 4h	3h 08m	$7K	$209K	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

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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 −0.443%Rate

Funding earned: $10.02
Price spread: −0.443% → 0.000%: −$44.28
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$50.26
Costs to cover: 0.160%
Break-even: 42.1 days

Slippage unknown: ApeX Omni: live order book, 23 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, 23 min ago	8.96 bp	16.7 bp −$17	118.5 bp −$1,185	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.

TIA on 27 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
GMX TIA/USD [ETH-USDC]	L −0.3628% / S +0.0169%	1h	0.4495	−0.425%	$6K	—	100x	as long as short
Kraken Futures PF_TIAUSD	−0.0112%	1h	0.4496	−0.408%	$354K	$205K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4494	−0.443%	$31K	$21K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4499	−0.332%	$1K	—	150x	as long as short
Injective TIA/USDC PERP	+0.0048%	1h	0.4518	+0.089%	$81K	$157K	12x	as long as short
ApeX Omni TIAUSDTlong	+0.0051%	1h	0.4514	long leg	$52K	$225K	50x
OKX TIA-USDT-SWAP	+0.0063%	4h	0.4492	−0.487%	$2.8M	$7.0M	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4500	−0.301%	$195K	$469K	10x	as long as short
Orderly PERP_TIA_USDCshort	+0.0098%	4h	0.4494	−0.443%	$7K	$209K	10x
Hyperliquid TIA	+0.0100%	1h	0.4500	−0.304%	$4.9M	$1.5M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4495	−0.413%	$33K	$249K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4494	−0.443%	$14.6M	$49.4M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4490	−0.532%	$10.2M	$14.5M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4493	−0.465%	$1.0M	$1.9M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4494	−0.443%	$11.1M	$14.6M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4494	−0.443%	$4.3M	$10.2M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4490	−0.532%	$4.5M	$4.1M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4492	−0.487%	—	$6.5M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4500	−0.317%	$104K	$170K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4506	−0.183%	$138K	$77K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4510	−0.089%	$60K	$76K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4489	−0.563%	$57K	$211K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4491	−0.502%	$7K	—	3x	as long as short
dYdX TIA-USD	+0.0111%	1h	0.4496	−0.394%	$53K	$139	10x	as long as short
Reya TIARUSDPERP	+0.0182%	1h	0.4490	−0.525%	$6K	—	15x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4499	−0.332%	$1.7M	$770K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0416%	1h	0.4521	+0.155%	$54K	$104K	50x	as long as short