Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0022%/8h= +2.5% APRpaid last 24h −0.011%

Price spread now: ApeX Omni against MEXC−0.178%51s7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as 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−$140.139% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 7 days+0.174%+$17 · spread now −0.178%, 7d avg +0.007%

Together, before fees+0.094%+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.185% cheaper against MEXC than usual: you would sell low and buy high (spread −0.178% now, against its 7-day average of +0.007%). If the spread goes back, that is −$18 on $10k: about 27 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.080%, so the current rate has only just turned in your favour. The two prices were read 51 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	MEXC ETH_USDT	2,774.8	0.0058	pay 0.0058% / 8h	7h 26m	$1.62B	$2.63B	500x
Short	ApeX Omni ETHUSDT	2,769.8	0.0080	get 0.0010% / 1h	26m 44s	$8.7M	$32.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now −0.178%Rate

Funding earned: $4.72
Price spread: −0.178% → +0.007%: −$18.46
Slippage, 4 orders: −$1.91
Fee MEXC: 1 bp × 2 orders: −$2
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$27.65
Costs to cover: 0.139%
Break-even: 48.0 days

Slippage from MEXC: live order book, 2 min ago; ApeX Omni: live order book, 2 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 MEXC live order book, 2 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.3 bp −$135	3.8 bp −$1,880
Sell ApeX Omni live order book, 2 min ago	0.94 bp	5.9 bp −$6	5.9 bp −$59	19.5 bp −$1,946	83.7 bp −$41.9K

ETH on 55 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 ETH/USDC PERP	−0.0752%	1h	2,776.9	+0.077%	$119K	$22.5M	52x	as long as short
RISEx ETH/USDC	−0.0128%	1h	2,772.7	−0.075%	$5.7M	$11.1M	25x	as long as short
Perpl ETH	−0.0112%	43m	2,772.5	−0.082%	$321K	$6.3M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,773.2	−0.057%	$5K	$1K	50x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,773.7	−0.039%	$168K	$1.1M	50x	as long as short
Phemex ETHUSDT	−0.0029%	8h	2,773.6	−0.044%	$269.9M	$67.5M	150x	as long as short
Phoenix ETH	−0.0003%	1h	2,773.7	−0.039%	$879K	$3.7M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,774.8	+0.001%	$12.2M	$45.7M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,773.4	−0.049%	$22.4M	—	200x	as long as short
Bullet ETH-USD	+0.0023%	1h	2,772.8	−0.070%	$185K	$1.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0026%	8h	2,775.6	+0.031%	$1.71B	$11.19B	100x	as long as short
SoDEX ETH-USD	+0.0036%	1h	2,772.8	−0.071%	$55.2M	$188.0M	40x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0043% / S −0.0009%	1h	2,773.3	−0.053%	$12.7M	—	200x	as long as short
Aster ETHUSDT	+0.0045%	8h	2,773.4	−0.048%	$256.8M	$885.2M	200x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,770.5	−0.152%	$5.0M	$167K	20x	as long as short
MEXC ETH_USDTlong	+0.0058%	8h	2,774.8	long leg	$1.62B	$2.63B	500x
Binance ETHUSDT	+0.0058%	8h	2,774.8	+0.001%	$6.49B	$16.31B	150x	as long as short
Aftermath Perps ETHUSD	+0.0067%	1h	2,772.6	−0.080%	$31K	$21K	20x	as long as short
Bitget ETHUSDT	+0.0072%	8h	2,774.3	−0.017%	$2.10B	$2.87B	150x	as long as short
Coinbase International ETH-PERP-INTX	+0.0080%	1h	2,774.4	−0.012%	$60.3M	$4.44B	50x	as long as short
ApeX Omni ETHUSDTshort	+0.0080%	1h	2,769.8	−0.178%	$8.7M	$32.2M	100x
Gate ETH_USDT	+0.0082%	8h	2,773.3	−0.055%	$3.37B	$9.01B	200x	as long as short
Vest ETH-PERP	+0.0082%	1h	2,773.6	−0.042%	—	$876K	50x	as long as short
KuCoin ETHUSDTM	+0.0085%	8h	2,776	+0.044%	$420.7M	$626.6M	100x	as long as short
Lighter ETH	+0.0096%	1h	2,775.1	+0.012%	$115.3M	$457.9M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,776	+0.044%	$25.7M	$111.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,780	+0.189%	$16.0M	$8.6M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,773	−0.064%	$485K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,773.7	−0.040%	$14.7M	$114.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,776.6	+0.066%	$3.18B	$2.24B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,775.3	+0.019%	$31.3M	$325.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,775.3	+0.020%	$2.51B	$4.36B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,772.5	−0.082%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,773.4	−0.051%	$2.8M	$16.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,772.8	−0.069%	$170.3M	$276.6M	25x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,773.1	−0.059%	—	$17.3M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,773.3	−0.054%	$15.2M	$42.0M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,770.6	−0.151%	$140.2M	$345.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,769.9	−0.175%	$181.9M	$783.6M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,770.9	−0.139%	$161.1M	$84.5M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,773.1	−0.060%	$21.4M	$63.7M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,773.5	−0.046%	$10.5M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,773.8	−0.036%	$21K	$22K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,774.9	+0.006%	$42.7M	$28.9M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,772.3	−0.089%	$972K	$13.2M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,773.4	−0.050%	$1.08B	$1.25B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,772.4	−0.086%	$31.0M	$74.9M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0048%	1h	2,774.3	−0.018%	—	$36.9M	500x	as long as short
Deribit ETH-PERPETUAL	+0.0107%	1h	2,774.5	−0.011%	$259.1M	$206.3M	50x	as long as short
Kalshi KXETHPERP	+0.0111%	8h	2,773.7	−0.039%	$8.0M	$681.0M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0134%	1h	2,774.3	−0.017%	$96.0M	$319.3M	100x	as long as short
Hibachi ETH/USDT-P	+0.0144%	1h	2,775	+0.010%	$253K	$1.5M	20x	as long as short
Orderly PERP_ETH_USDC	+0.0151%	8h	2,775.6	+0.029%	$32.7M	$11.2M	100x	as long as short
BloFin ETH-USDT	+0.0178%	8h	2,772.9	−0.068%	$288.1M	$182.1M	150x	as long as short
Reya ETHRUSDPERP	+0.0211%	1h	2,773.5	−0.047%	$7.4M	$1.2M	25x	as long as short