Funding arb · Price arb /

CXMT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.3982%/8h= +436.1% APRpaid last 24h +0.175%

Price spread now: ApeX Omni against Bybit+0.406%49s7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$118as 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−$1591.586% 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+0.403%+$40 on $10k

Price spread, last 4 days (all we have)−0.580%−$58 · spread now +0.406%, 7d avg −0.005%

Together, before fees−0.177%−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$119 a day on $10k at the current rate, and ApeX Omni is 0.411% dearer against Bybit than usual: you sell high and buy low: +$41 more if the spread goes back to its 7-day average of −0.005%. The two prices were read 49 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 0.403% in total (about 21.0% 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	Bybit CXMTUSDT	8.6250	−0.4098	get 0.4098% / 8h	3h 26m	$1.0M	$1.1M	20x
Short	ApeX Omni CXMTUSDT	8.6600	−0.0115	pay 0.0014% / 1h	26m 46s	$8K	$249K	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 +0.406%Rate

Funding earned: $836.32
Price spread: +0.406% → −0.005%: $41.13
Slippage, 4 orders: −$137.59
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $718.85
Costs to cover: 1.586%
Break-even: 1.0 days

Slippage from Bybit: live order book, 4 min ago; ApeX Omni: live order book, 25 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	2.31 bp	19.5 bp −$20	357.7 bp −$3,577	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 25 min ago	40.49 bp	60.2 bp −$60	250.7 bp −$2,507	doesn't fit	doesn't fit

CXMT on 16 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
Binance CXMTUSDT	−0.4360%	4h	8.6244	−0.007%	$4.5M	$8.9M	20x	as long as short
Bybit CXMTUSDTlong	−0.4098%	8h	8.6250	long leg	$1.0M	$1.1M	20x
Ondo Perps CXMT-USD.P	−0.3284%	1h	8.5918	−0.385%	$29K	$33K	10x	as long as short
OKX CXMT-USDT-SWAP	−0.2845%	8h	8.6220	−0.035%	$1.4M	$5.2M	20x	as long as short
Bitget CXMTUSDT	−0.2499%	8h	8.6290	+0.046%	$601K	$825K	20x	as long as short
Gate CXMT_USDT	−0.2224%	1h	8.6200	−0.058%	$5.8M	$13.3M	50x	as long as short
tradeXYZ xyz:CXMT	−0.2218%	1h	8.6205	−0.052%	$56.2M	$9.1M	10x	as long as short
Aster CXMTUSDT	−0.1978%	8h	8.6525	+0.319%	$139K	$100K	20x	as long as short
Polymarket Perps CXMT-USD	−0.1951%	1h	8.6238	−0.014%	$10K	$47K	10x	as long as short
SoDEX CXMT-USD	−0.1172%	1h	8.6245	−0.006%	$229K	$9K	5x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter CXMT	−0.0768%	1h	8.6266	+0.019%	$101K	$18K	5x	as long as short
ApeX Omni CXMTUSDTshort	−0.0115%	1h	8.6600	+0.406%	$8K	$249K	50x
edgeX CXMTUSDC	−0.0053%	4h	8.6325	+0.087%	$437K	$241K	10x	as long as short
Popdex CXMTUSDT	−0.0048%	1h	8.6270	+0.023%	$1K	$115K	20x	as long as short
SunX CXMT-USDT	0.0000%	4h	8.6325	+0.087%	$85	$2.4M	10x	as long as short
HTX CXMT-USDT	0.0000%	4h	8.6973	+0.838%	$32K	$37K	10x	as long as short