Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0189%/8h= −20.7% APRpaid last 24h −0.025%

Price spread now: ApeX Omni against BingX−0.112%68s7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as 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−$800.796% 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−0.056%−$6 on $10k

Price spread, last 4 days (all we have)+1.040%+$104 · spread now −0.112%, 7d avg +0.034%

Together, before fees+0.984%+$98 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and ApeX Omni is 0.146% cheaper against BingX than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.034%). Swap the legs. The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.056% in total (about -2.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX TIA-USDC	0.4447	0.0100	pay 0.0050% / 4h	3h 58m	—	$6.5M	—
Short	ApeX Omni TIAUSDT	0.4442	−0.0089	pay 0.0011% / 1h	58m 25s	$51K	$225K	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 −0.112%Rate

Funding earned: −$39.63
Price spread: −0.112% → +0.034%: −$14.6
Slippage, 4 orders: −$59.58
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$133.81
Costs to cover: 0.796%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; ApeX Omni: live order book, 38 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, 7 min ago	3.37 bp	20.1 bp −$20	57.9 bp −$579	402.4 bp −$40.2K	677.9 bp −$339.0K
Sell ApeX Omni live order book, 38 min ago	9.05 bp	18.2 bp −$18	118.0 bp −$1,180	doesn't fit	doesn't fit

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 −0.1603% / S +0.0101%	1h	0.4450	+0.063%	$5K	—	100x	as long as short
Kraken Futures PF_TIAUSD	−0.0113%	1h	0.4453	+0.124%	$352K	$212K	50x	as long as short
ApeX Omni TIAUSDTshort	−0.0089%	1h	0.4442	−0.112%	$51K	$225K	50x
Backpack TIA_USDC_PERP	−0.0026%	1h	0.4452	+0.117%	$103K	$174K	10x	as long as short
dYdX TIA-USD	0.0000%	1h	0.4458	+0.255%	$53K	$139	10x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4451	+0.090%	$31K	$25K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4451	+0.090%	$1K	—	150x	as long as short
OKX TIA-USDT-SWAP	+0.0037%	4h	0.4448	+0.022%	$2.8M	$6.8M	50x	as long as short
Injective TIA/USDC PERP	+0.0048%	1h	0.4450	+0.067%	$24K	$12K	12x	as long as short
Lighter TIA	+0.0096%	1h	0.4461	+0.304%	$194K	$467K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TIA_USDC	+0.0099%	4h	0.4450	+0.067%	$7K	$226K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4456	+0.211%	$4.8M	$1.5M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4453	+0.132%	$33K	$249K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4452	+0.112%	$14.1M	$48.4M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4450	+0.067%	$10.1M	$14.2M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4451	+0.090%	$1.0M	$1.9M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4451	+0.090%	$12.3M	$14.1M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4450	+0.067%	$4.3M	$10.0M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4447	0.000%	$4.4M	$4.1M	75x	as long as short
BingX TIA-USDClong	+0.0100%	4h	0.4447	long leg	—	$6.5M	—
Variational Omni TIA	+0.0100%	4h	0.4456	+0.211%	$136K	$78K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4456	+0.202%	$59K	$76K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4450	+0.076%	$57K	$211K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4452	+0.112%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0182%	1h	0.4446	−0.024%	$6K	—	15x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4448	+0.022%	$1.7M	$718K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0416%	1h	0.4459	+0.270%	$52K	$104K	50x	as long as short