Funding you earn now, next payment 22:00 UTC−0.0452%/8h= −49.5% APRnext payment −$0.57 per $10,000 · paid last 24h −0.084%
Price spread now: ApeX Omni against Backpack−0.027%7-day average −0.049% · you buy dearer than you sell
Net, funding: paid 7d − costs−$72as in the Funding arb table
Net, price: spread back to 7d avg − costs−$58as in the Price arb table
costs, in and out, $10k−$600.601% of the position
Funding, last 7 days−0.121%−$12 on $10k
+Price spread, last 3 days (all we have)+0.146%+$15 · spread now −0.027%, 7d avg −0.049%
=The price spread pays, funding is against you. ApeX Omni is 0.022% dearer against Backpack than usual: you sell high and buy low (spread −0.027% now, against its 7-day average of −0.049%): +$2 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.121% in total) that is about 30 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.121% in total (about -6.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.57 per $10,000. 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 | Backpack ARB_USDC_PERP | 0.2232 | 0.0552 | pay 0.0069% / 1h | 10m 50s | $1.1M | $2.7M | 20x |
| Short | ApeX Omni ARBUSDT | 0.2231 | 0.0100 | get 0.0013% / 1h | 10m 50s | $121K | $297K | 50x |
Backpack ARB_USDC_PERP
ApeX Omni ARBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$94.99
- Price spread: −0.027% → −0.049%
- $2.17
- Slippage, 4 orders
- −$40.08
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$152.91
- Costs to cover
- 0.601%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 3 min ago; ApeX Omni: live order book, 11 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 Backpack live order book, 3 min ago | 0.22 bp | 10.7 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 11 min ago | 8.93 bp | 22.1 bp −$22 | 122.8 bp −$1,228 | doesn't fit | doesn't fit |
ARB on 36 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ARB/USDC PERP | −0.1675% | 1h | 0.2214 | −0.789% | $40K | $197K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0272% | 1h | 0.2225 | −0.300% | $7K | $2K | 10x | as long as short |
| Variational Omni ARB | −0.0162% | 8h | 0.2234 | +0.087% | $1.9M | $2.8M | — | as long as short |
| Bybit ARBUSDT | −0.0145% | 8h | 0.2228 | −0.170% | $56.0M | $135.8M | 50x | as long as short |
| SoDEX ARB-USD | −0.0110% | 1h | 0.2228 | −0.175% | $4K | $2.9M | 5x | as long as short |
| OKX ARB-USDT-SWAP | −0.0104% | 8h | 0.2227 | −0.215% | $22.2M | $163.9M | 50x | as long as short |
| MEXC ARB_USDT | −0.0104% | 8h | 0.2227 | −0.215% | $36.9M | $63.8M | 200x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0053% | 1h | 0.2229 | −0.098% | $1.1M | $5.3M | 50x | as long as short |
| Polymarket Perps ARB-USD | −0.0052% | 1h | 0.2227 | −0.202% | $77K | $2.2M | 10x | as long as short |
| Orderly PERP_ARB_USDC | −0.0021% | 8h | 0.2228 | −0.161% | $11K | $388K | 10x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
Variational Omni ARB
Bybit ARBUSDT
SoDEX ARB-USD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Kraken Futures PF_ARBUSD
Polymarket Perps ARB-USD
Orderly PERP_ARB_USDCShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ARB_USDC-PERPETUAL | −0.0019% | 1h | 0.2229 | −0.108% | $38K | $20K | 25x | as long as short |
| Binance ARBUSDT | −0.0017% | 8h | 0.2228 | −0.164% | $63.4M | $324.5M | 75x | as long as short |
| Extended ARB-USD | −0.0016% | 1h | 0.2227 | −0.196% | $355K | $2.4M | 25x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2229 | −0.124% | $66K | $4K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2229 | −0.132% | $56K | — | 150x | as long as short |
| Gate ARB_USDT | +0.0008% | 8h | 0.2228 | −0.161% | $5.5M | $21.6M | 60x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2229 | −0.104% | $146K | $12K | 3x | as long as short |
| Bitget ARBUSDT | +0.0088% | 8h | 0.2227 | −0.206% | $20.9M | $38.2M | 50x | as long as short |
| BingX ARB-USDT | +0.0089% | 8h | 0.2228 | −0.184% | — | $54.0M | — | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2228 | −0.139% | $1.3M | $7.8M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2230 | −0.076% | $39.8M | $53.0M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2229 | −0.138% | $691K | $1.8M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2228 | −0.143% | $47K | $199K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2228 | −0.143% | $20.4M | $16.9M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2230 | −0.075% | $39K | $458K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2227 | −0.194% | $480K | $4.1M | 10x | as long as short |
| ApeX Omni ARBUSDTshort | +0.0100% | 1h | 0.2231 | −0.027% | $121K | $297K | 50x | |
| SunX ARB-USDT | +0.0100% | 8h | 0.2228 | −0.161% | $1K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2225 | −0.300% | $274K | $1.2M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2228 | −0.161% | $5.2M | $13.7M | 50x | as long as short |
| BloFin ARB-USDT | +0.0102% | 8h | 0.2227 | −0.211% | $3.0M | $3.3M | 75x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0154% / S −0.0018% | 1h | 0.2229 | −0.125% | $845K | — | 150x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0288% | 1h | 0.2249 | +0.780% | $504K | $2.5M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0291% | 1h | 0.2226 | −0.230% | $2K | $695 | 20x | as long as short |
| RISEx ARB/USDC | +0.0546% | 1h | 0.2228 | −0.172% | $494K | $2.8M | 10x | as long as short |
| Backpack ARB_USDC_PERPlong | +0.0552% | 1h | 0.2232 | long leg | $1.1M | $2.7M | 20x |
Deribit ARB_USDC-PERPETUAL
Binance ARBUSDT
Extended ARB-USD
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Gate ARB_USDT
Aevo ARB-PERP
Bitget ARBUSDT
BingX ARB-USDT
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
BloFin ARB-USDT
GMX ARB/USD [ARB-USDC]
Coinbase International ARB-PERP-INTX
Reya ARBRUSDPERP
RISEx ARB/USDC