Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0041%/8h= −4.4% APRpaid last 24h −0.002%

Price spread now: BloFin against ApeX Omni+0.091%7-day average −0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$137as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1331.328% 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−0.043%−$4 on $10k

Price spread, last 4 days (all we have)−0.105%−$11 · spread now +0.091%, 7d avg −0.046%

Together, before fees−0.148%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.137% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of −0.046%): +$14 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni LAYERUSDT	0.07660	0.0100	pay 0.0013% / 1h	46m 41s	$16K	$191K	50x
Short	BloFin LAYER-USDT	0.07667	0.0059	get 0.0030% / 4h	3h 46m	$113K	$12K	50x

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

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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 +0.091%Rate

Funding earned: −$8.52
Price spread: +0.091% → −0.046%: $13.75
Slippage, 4 orders: −$110.79
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$127.55
Costs to cover: 1.328%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 49 min ago; BloFin: live order book, 9 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, 49 min ago	19.59 bp	45.8 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 9 min ago	2.61 bp	20.5 bp −$21	64.5 bp −$645	doesn't fit	doesn't fit

LAYER on 13 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_LAYERUSD	−0.0952%	1h	0.07664	+0.052%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.039%	—	$18K	5.5x	as long as short
BloFin LAYER-USDTshort	+0.0059%	4h	0.07667	+0.091%	$113K	$12K	50x
Hyperliquid LAYER	+0.0100%	1h	0.07676	+0.205%	$590K	$155K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07661	+0.016%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07664	+0.052%	$2.1M	$2.1M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07666	+0.078%	$713K	$565K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07659	−0.013%	$141K	$37K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07666	+0.078%	$402K	$128K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07670	+0.131%	$1.1M	$97K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX LAYER-USDT	+0.0100%	4h	0.07674	+0.183%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDTlong	+0.0100%	1h	0.07660	long leg	$16K	$191K	50x
Extended LAYER-USD	+0.0104%	1h	0.07665	+0.064%	$3K	$215K	5x	as long as short