Funding arb · Price arb /

LITE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.032%

Price spread now: ApeX Omni against Phemex−0.167%77s7-day average −0.050% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.215%+$21 on $10k

Price spread, last 3 days (all we have)+0.169%+$17 · spread now −0.167%, 7d avg −0.050%

Together, before fees+0.383%+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.116% cheaper against Phemex than usual: you would sell low and buy high (spread −0.167% now, against its 7-day average of −0.050%). If the spread goes back, that is −$12 on $10k: about 3.9 days of funding at the current rate (+$3 a day). The two prices were read 77 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	Phemex LITEUSDT	966.07	0	get 0.0000% / 8h	7h 53m	$1.5M	$683K	10x
Short	ApeX Omni LITEUSDT	964.46	0.0100	get 0.0013% / 1h	53m 53s	$16K	$265K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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 PhemexbpFee ApeX OmnibpOrdersPrice spread, now −0.167%Rate

Funding earned: $21
Price spread: −0.167% → −0.050%: −$11.63
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$12.63
Costs to cover: 0.220%
Break-even: 11.2 days

Slippage unknown: Phemex: live order book, 4 min ago; ApeX Omni: live order book, 18 min ago. 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 Phemex live order book, 4 min ago	5.55 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 18 min ago	7.70 bp	20.3 bp −$20	205.2 bp −$2,052	doesn't fit	doesn't fit

LITE 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
Coinbase International LITE-PERP-INTX	−0.0096%	1h	960.78	−0.548%	$111K	$224K	10x	as long as short
BloFin LITE-USDT	−0.0023%	8h	964.21	−0.193%	$223K	$237K	20x	as long as short
Aster LITEUSDT	0.0000%	8h	965.78	−0.030%	$108K	$17K	20x	as long as short
Bybit LITEUSDT	0.0000%	8h	965.40	−0.069%	$1.9M	$1.7M	25x	as long as short
OKX LITE-USDT-SWAP	0.0000%	8h	965.34	−0.076%	$3.8M	$18.1M	25x	as long as short
Gate LITE_USDT	0.0000%	8h	965.72	−0.036%	$8.1M	$5.8M	50x	as long as short
Bitget LITEUSDT	0.0000%	8h	965.21	−0.089%	$2.8M	$2.8M	20x	as long as short
SunX LITE-USDT	0.0000%	8h	965.90	−0.018%	$957	$4.1M	10x	as long as short
HTX LITE-USDT	0.0000%	8h	963.62	−0.254%	$7K	$31K	20x	as long as short
Phemex LITEUSDTlong	0.0000%	8h	966.07	long leg	$1.5M	$683K	10x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX LITE-USD	+0.0014%	1h	965.41	−0.068%	$1.1M	$5.3M	10x	as long as short
Vest LITE-USD-PERP	+0.0046%	1h	964.77	−0.135%	—	$3K	10x	as long as short
Polymarket Perps LITE-USD	+0.0050%	1h	965.91	−0.017%	$76K	$232K	10x	as long as short
Ondo Perps LITE-USD.P	+0.0050%	1h	964.68	−0.144%	$175K	$162K	10x	as long as short
Lighter LITE	+0.0064%	1h	965.31	−0.079%	$27K	$101K	10x	as long as short
KuCoin LITEUSDTM	+0.0100%	8h	964.38	−0.175%	$520K	$39K	20x	as long as short
ApeX Omni LITEUSDTshort	+0.0100%	1h	964.46	−0.167%	$16K	$265K	50x
Orderly PERP_LITE_USDC_mythos	+0.0100%	8h	965.87	−0.021%	$939	$3K	10x	as long as short
Aevo LITE-PERP	+0.0104%	1h	964.35	−0.178%	—	—	10x	as long as short
Variational Omni LITE	+0.0316%	8h	964.24	−0.189%	$243K	$142K	—	as long as short
GRVT LITE_USDT_Perp	+0.0372%	8h	964.90	−0.121%	$608	$224K	10x	as long as short
tradeXYZ xyz:LITE	+0.0422%	1h	965.45	−0.064%	$7.3M	$5.0M	10x	as long as short
Binance LITEUSDT	+0.0424%	8h	965.55	−0.054%	$13.9M	$44.9M	25x	as long as short
Extended LITE-USD	+0.0424%	1h	965.17	−0.093%	$9K	$206K	10x	as long as short
Deribit LITE_USDC-PERPETUAL	+0.0496%	1h	965.45	−0.064%	$19K	$37K	10x	as long as short
edgeX LITEUSDC	+0.0576%	4h	964.15	−0.199%	$72K	$462K	10x	as long as short
SoDEX LITE-USD	+0.0786%	1h	965.21	−0.089%	$23K	$10K	10x	as long as short