Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: ApeX Omni against Bybit−0.164%89s7-day average +0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as 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−$990.988% 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+0.077%+$8 on $10k

Price spread, last 4 days (all we have)+0.661%+$66 · spread now −0.164%, 7d avg +0.079%

Together, before fees+0.738%+$74 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.242% cheaper against Bybit than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of +0.079%. The two prices were read 89 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	Bybit ARUSDT	4.2800	0.0100	pay 0.0100% / 8h	7h 28m	$4.5M	$8.2M	75x
Short	ApeX Omni ARUSDT	4.2730	0.0100	get 0.0013% / 1h	28m 01s	$20K	$707K	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 −0.164%Rate

Funding earned: $0
Price spread: −0.164% → +0.079%: −$24.21
Slippage, 4 orders: −$77.84
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$123.05
Costs to cover: 0.988%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; ApeX Omni: live order book, 6 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, 5 min ago	2.34 bp	29.3 bp −$29	138.9 bp −$1,389	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 6 min ago	10.52 bp	18.3 bp −$18	132.7 bp −$1,327	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	−0.1011%	1h	4.2709	−0.212%	$53K	$134K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.2746	−0.127%	$549K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.4240	+3.364%	$2K	$5K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.2825	+0.058%	$3.8M	$4.4M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.2800	0.000%	$32K	$255K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.2800	0.000%	$8.5M	$43.5M	75x	as long as short
Bybit ARUSDTlong	+0.0100%	8h	4.2800	long leg	$4.5M	$8.2M	75x
OKX AR-USDT-SWAP	+0.0100%	8h	4.2790	−0.023%	$2.2M	$14.0M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.2710	−0.210%	$2.0M	$3.1M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.2780	−0.047%	$6.1M	$3.7M	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	4.2720	−0.187%	$1.1M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.2740	−0.140%	$3.7M	$4.8M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.2770	−0.070%	—	$2.7M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.2738	−0.145%	$245K	$510K	—	as long as short
ApeX Omni ARUSDTshort	+0.0100%	1h	4.2730	−0.164%	$20K	$707K	50x
Extended AR-USD	+0.0104%	1h	4.2788	−0.027%	$36K	$240K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.2760	−0.093%	$414K	$437K	20x	as long as short