Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Aster against ApeX Omni−0.175%49s7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as 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−$980.976% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now −0.175%, 7d avg −0.013%

Together, before fees+0.008%+ Points / potential airdropAster: Stage 5 · farm board+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.163% cheaper against ApeX Omni than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.013%. The two prices were read 49 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	ApeX Omni OPUSDT	0.1258	0.0100	pay 0.0013% / 1h	34m 46s	$43K	$703K	50x
Short	Aster OPUSDT	0.1256	0.0100	get 0.0100% / 8h	2h 34m	$207K	$218K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX Omni. 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 ApeX OmnibpFee AsterbpOrdersPrice spread, now −0.175%Rate

Funding earned: $0
Price spread: −0.175% → −0.013%: −$16.27
Slippage, 4 orders: −$79.65
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$113.92
Costs to cover: 0.976%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 14 min ago; Aster: live order book, 12 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, 14 min ago	11.77 bp	20.2 bp −$20	122.3 bp −$1,223	doesn't fit	doesn't fit
Sell Aster live order book, 12 min ago	10.32 bp	22.3 bp −$22	doesn't fit	doesn't fit	doesn't fit

OP on 30 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 OP/USDC PERP	−0.1583%	1h	0.1253	−0.397%	$35K	$59K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1261	+0.242%	$13K	—	100x	as long as short
dYdX OP-USD	0.0000%	1h	0.1256	−0.159%	$39K	$532	10x	as long as short
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1261	+0.238%	$40K	$139K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1261	+0.215%	—	—	150x	as long as short
Orderly PERP_OP_USDC	+0.0025%	8h	0.1259	+0.079%	$59K	$142K	10x	as long as short
Variational Omni OP	+0.0030%	8h	0.1257	−0.075%	$222K	$48K	—	as long as short
Kraken Futures PF_OPUSD	+0.0074%	1h	0.1262	+0.284%	$758K	$624K	20x	as long as short
Lighter OP	+0.0096%	1h	0.1257	−0.103%	$290K	$987K	15x	as long as short
OKX OP-USDT-SWAP	+0.0097%	8h	0.1254	−0.318%	$6.2M	$28.7M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid OP	+0.0100%	1h	0.1256	−0.135%	$3.5M	$2.8M	5x	as long as short
Aster OPUSDTshort	+0.0100%	8h	0.1256	−0.175%	$207K	$218K	10x
Binance OPUSDT	+0.0100%	8h	0.1254	−0.332%	$19.7M	$63.7M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1254	−0.342%	$18.6M	$25.5M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1257	−0.119%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1254	−0.286%	$22.9M	$7.6M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1255	−0.238%	$2.9M	$6.4M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1256	−0.159%	$5.8M	$6.6M	75x	as long as short
BingX OP-USDC	+0.0100%	8h	0.1257	−0.079%	—	$1.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1258	+0.008%	$106K	$215K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1256	−0.180%	$380K	$769K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1259	+0.079%	$319K	$5.2M	10x	as long as short
ApeX Omni OPUSDTlong	+0.0100%	1h	0.1258	long leg	$43K	$703K	50x
SoDEX OP-USD	+0.0100%	1h	0.1260	+0.191%	$192	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1260	+0.183%	$173K	$236K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1256	−0.177%	$101K	$505K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1260	+0.159%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTX	+0.0160%	1h	0.1245	−1.033%	$26K	$59K	50x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1259	+0.087%	$1.0M	$278K	75x	as long as short
Reya OPRUSDPERP	+0.0442%	1h	0.1261	+0.264%	$701	—	20x	as long as short