Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:29 UTC+0.0191%/8h= +21.0% APRpaid last 24h +0.016%

Price spread now: ApeX Omni against Perpl+0.124%7-day average −0.014% · you sell dearer than you buy

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

Long on Perpl Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 on $10k

Price spread, last 7 days−0.140%−$14 · spread now +0.124%, 7d avg −0.014%

Together, before fees−0.352%+ Points / potential airdropPerpl: Active · farm board−$35 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and ApeX Omni is 0.138% dearer against Perpl than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.014%. Mind the row above: over the last 7 days funding on this pair cost −0.212%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl ETH	2,768.9	−0.0223	get 0.0020% / 43m	20m 55s	$285K	$6.9M	8.3x
Short	ApeX Omni ETHUSDT	2,772.4	−0.0032	pay 0.0004% / 1h	24m 55s	$8.8M	$32.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Perpl. 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 PerplbpFee ApeX OmnibpOrdersPrice spread, now +0.124%Rate

Funding earned: $40.2
Price spread: +0.124% → −0.014%: $13.82
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $30.22
Costs to cover: 0.238%
Break-even: 1.7 days

Slippage unknown: Perpl: no order-book sample; ApeX Omni: live order book, 4 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 Perpl no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 4 min ago	0.23 bp	5.7 bp −$6	6.9 bp −$69	21.4 bp −$2,137	73.2 bp −$36.6K

Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Perpl ETHlong	−0.0223%	43m	2,768.9	long leg	$285K	$6.9M	8.3x
RISEx ETH/USDC	−0.0206%	1h	2,768.5	−0.017%	$5.6M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,781.9	+0.468%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,769.5	+0.021%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDTshort	−0.0032%	1h	2,772.4	+0.124%	$8.8M	$32.9M	100x
01 Exchange ETHUSD	−0.0008%	1h	2,769.2	+0.010%	$168K	$1.2M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,770	+0.040%	$12.7M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,771.1	+0.078%	$876K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,770.2	+0.046%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0020%	8h	2,769	+0.003%	$1.70B	$11.86B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps ETHUSD	+0.0023%	1h	2,773.2	+0.155%	$29K	$22K	20x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,770.1	+0.043%	$12.8M	—	200x	as long as short
Aster ETHUSDT	+0.0031%	8h	2,769.9	+0.036%	$255.6M	$1.00B	200x	as long as short
Phemex ETHUSDT	+0.0034%	8h	2,770.3	+0.050%	$270.1M	$69.0M	150x	as long as short
SoDEX ETH-USD	+0.0034%	1h	2,770	+0.039%	$55.2M	$229.0M	40x	as long as short
Bullet ETH-USD	+0.0048%	1h	2,769.4	+0.018%	$182K	$1.7M	20x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,767.1	−0.065%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0058%	8h	2,769.6	+0.024%	$1.61B	$2.65B	500x	as long as short
Binance ETHUSDT	+0.0058%	8h	2,769.7	+0.027%	$6.45B	$17.30B	150x	as long as short
Bitget ETHUSDT	+0.0066%	8h	2,768.9	−0.001%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0070%	8h	2,769.7	+0.027%	$3.29B	$9.66B	200x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,769.4	+0.017%	$420.8M	$739.8M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0086%	1h	2,771.7	+0.101%	$259.0M	$222.4M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,771.7	+0.098%	$60.1M	$4.59B	50x	as long as short
Bybit ETHUSDT	+0.0090%	8h	2,769.3	+0.013%	$2.50B	$4.63B	150x	as long as short
BingX ETH-USDT	+0.0091%	8h	2,769.9	+0.036%	—	$1.22B	—	as long as short
Vest ETH-PERP	+0.0093%	1h	2,769.7	+0.027%	—	$1.1M	50x	as long as short
HTX ETH-USDT	+0.0096%	8h	2,770	+0.039%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,770.7	+0.065%	$115.1M	$499.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,772	+0.112%	$25.3M	$121.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,769.7	+0.028%	—	$42.0M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,768.6	−0.014%	$15.9M	$10.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,768.9	−0.001%	$477K	$2.7M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,768.3	−0.021%	$14.3M	$118.2M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,771.3	+0.086%	$3.18B	$2.35B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,769	+0.004%	$31.2M	$312.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,768.6	−0.012%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,769.7	+0.028%	$2.7M	$17.3M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,772.9	+0.143%	$167.0M	$259.0M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,769.9	+0.035%	$15.1M	$44.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,770.3	+0.050%	$147.5M	$336.1M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,772.2	+0.116%	$182.0M	$782.8M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,771.2	+0.083%	$161.1M	$89.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.4	+0.089%	$21.4M	$58.6M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,769.7	+0.028%	$10.7M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,770	+0.037%	$21K	$24K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,772.4	+0.127%	$42.7M	$29.4M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,768.6	−0.012%	$971K	$13.9M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,769.1	+0.007%	$32.5M	$78.1M	50x	as long as short
Kalshi KXETHPERP	+0.0114%	8h	2,770.1	+0.042%	$8.2M	$686.9M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,771.4	+0.089%	$86.4M	$333.7M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0141%	8h	2,772.6	+0.134%	$32.6M	$12.1M	100x	as long as short
BloFin ETH-USDT	+0.0178%	8h	2,770	+0.038%	$287.3M	$194.2M	150x	as long as short
Reya ETHRUSDPERP	+0.0202%	1h	2,769.3	+0.013%	$7.3M	$1.1M	25x	as long as short
Hibachi ETH/USDT-P	+0.0232%	1h	2,771.5	+0.092%	$252K	$1.6M	20x	as long as short