Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h −0.015%

Price spread now: BloFin against ApeX Omni+0.047%103s7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as 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−$630.634% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 4 days (all we have)+0.186%+$19 · spread now +0.047%, 7d avg −0.040%

Together, before fees+0.270%+$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.088% dearer against ApeX Omni than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.040%. The two prices were read 103 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 ARUSDT	4.2190	0.0100	pay 0.0013% / 1h	45m 29s	$20K	$715K	50x
Short	BloFin AR-USDT	4.2210	0.0220	get 0.0220% / 8h	1h 45m	$411K	$456K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now +0.047%Rate

Funding earned: $25.2
Price spread: +0.047% → −0.040%: $8.79
Slippage, 4 orders: −$41.38
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$29.39
Costs to cover: 0.634%
Break-even: 15.2 days

Slippage from ApeX Omni: live order book, 63 min ago; BloFin: live order book, 40 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 ApeX Omni live order book, 63 min ago	9.14 bp	17.3 bp −$17	126.4 bp −$1,264	doesn't fit	doesn't fit
Sell BloFin live order book, 40 min ago	1.20 bp	9.7 bp −$10	40.1 bp −$401	doesn't fit	doesn't fit

AR on 17 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
Kraken Futures PF_ARUSD	−0.2687%	1h	4.2008	−0.430%	$52K	$185K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.2355	+0.390%	$543K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.4240	+4.859%	$2K	$5K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.2295	+0.249%	$3.4M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.2235	+0.107%	$42K	$456K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.2325	+0.321%	$8.4M	$52.3M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.2230	+0.095%	$4.2M	$9.4M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.2250	+0.142%	$2.2M	$17.0M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.2120	−0.166%	$2.0M	$3.3M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.2260	+0.166%	$6.0M	$4.2M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.2210	+0.047%	$1.1M	$1.3M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.2230	+0.095%	$3.7M	$5.5M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.2300	+0.261%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.2098	−0.219%	$238K	$628K	—	as long as short
ApeX Omni ARUSDTlong	+0.0100%	1h	4.2190	long leg	$20K	$715K	50x
Extended AR-USD	+0.0104%	1h	4.2173	−0.041%	$35K	$243K	10x	as long as short
BloFin AR-USDTshort	+0.0220%	8h	4.2210	+0.047%	$411K	$456K	20x