Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0683%/8h= −74.8% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against MEXC+0.739%111s7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$124as 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−$1261.263% 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+0.020%+$2 on $10k

Price spread, last 4 days (all we have)−0.546%−$55 · spread now +0.739%, 7d avg +0.038%

Together, before fees−0.526%−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.701% dearer against MEXC than usual: you sell high and buy low (spread +0.739% now, against its 7-day average of +0.038%): +$70 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 3.4 days. The two prices were read 111 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.020% in total (about 1.0% a year). A funding rate is set anew for every payment. 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	MEXC LAYER_USDT	0.07713	0.0100	pay 0.0050% / 4h	2h 53m	$389K	$129K	20x
Short	ApeX Omni LAYERUSDT	0.07770	−0.0583	pay 0.0073% / 1h	53m 35s	$14K	$193K	50x

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 +0.739%Rate

Funding earned: −$143.47
Price spread: +0.739% → +0.038%: $70.15
Slippage, 4 orders: −$116.25
Fee MEXC: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$199.58
Costs to cover: 1.263%
Break-even: never at this rate

Slippage from MEXC: live order book, 22 min ago; ApeX Omni: live order book, 38 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, 22 min ago	3.24 bp	16.2 bp −$16	52.5 bp −$525	204.2 bp −$20.4K	doesn't fit
Sell ApeX Omni live order book, 38 min ago	19.62 bp	55.7 bp −$56	doesn't fit	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	−0.0641%	1h	0.07717	+0.054%	$8K	$54	10x	as long as short
ApeX Omni LAYERUSDTshort	−0.0583%	1h	0.07770	+0.739%	$14K	$193K	50x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.692%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07714	+0.013%	$593K	$148K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07709	−0.047%	$10K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07715	+0.024%	$2.1M	$2.1M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07711	−0.026%	$747K	$613K	20x	as long as short
MEXC LAYER_USDTlong	+0.0100%	4h	0.07713	long leg	$389K	$129K	20x
Bitget LAYERUSDT	+0.0100%	4h	0.07709	−0.052%	$1.1M	$93K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07713	0.000%	—	$1.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended LAYER-USD	+0.0104%	1h	0.07713	−0.004%	$3K	$215K	5x	as long as short
BloFin LAYER-USDT	+0.0148%	4h	0.07714	+0.013%	$113K	$9K	50x	as long as short
Gate LAYER_USDT	+0.0158%	4h	0.07717	+0.052%	$141K	$33K	20x	as long as short