Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against ApeX Omni−0.976%98s7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$157as 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−$1571.569% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.361%+$36 · spread now −0.976%, 7d avg −0.062%

Together, before fees+0.358%+$36 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: BingX is 0.915% cheaper against ApeX Omni than usual: you would sell low and buy high, −$91 on $10k if it goes back to its 7-day average of −0.062%. The two prices were read 98 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 SUSDT	0.04610	0.0100	pay 0.0013% / 1h	53m 49s	$26K	$523K	50x
Short	BingX S-USDT	0.04565	0.0100	get 0.0050% / 4h	1h 53m	—	$7.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.976%Rate

Funding earned: $0
Price spread: −0.976% → −0.062%: −$91.46
Slippage, 4 orders: −$136.89
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$248.36
Costs to cover: 1.569%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 57 min ago; BingX: 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 ApeX Omni live order book, 57 min ago	33.75 bp	61.5 bp −$62	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	4.38 bp	19.1 bp −$19	60.1 bp −$601	355.2 bp −$35.5K	680.6 bp −$340.3K

S on 25 exchanges

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
01 Exchange SUSD	−1.0592%	1h	0.04440	−3.688%	$27K	$3K	5x	as long as short
Kraken Futures PF_SUSD	−0.4596%	1h	0.04567	−0.942%	$39K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1904%	1h	0.04128	−10.456%	$50K	$18K	25x	as long as short
Variational Omni S	−0.0695%	4h	0.04567	−0.936%	$703K	$11K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0336% / S +0.0211%	1h	0.04580	−0.655%	$2K	—	100x	as long as short
Deribit S_USDC-PERPETUAL	−0.0187%	1h	0.04578	−0.694%	$77K	$512	10x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04573	−0.805%	$5	—	15x	as long as short
Orderly PERP_S_USDC	−0.0031%	4h	0.04574	−0.781%	$114K	$645K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04582	−0.609%	$706	—	150x	as long as short
Lighter S	+0.0096%	1h	0.04573	−0.803%	$159K	$141K	5x	as long as short

Show all 25 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04577	−0.709%	$1.2M	$855K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04572	−0.824%	$48K	$154K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04568	−0.913%	$6.8M	$20.1M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04561	−1.063%	$6.5M	$5.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04566	−0.954%	$1.4M	$6.2M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04565	−0.976%	$385K	$227K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04570	−0.868%	$4.4M	$3.0M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04563	−1.020%	$2.2M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04578	−0.694%	$1.4M	$2.9M	50x	as long as short
BingX S-USDTshort	+0.0100%	4h	0.04565	−0.976%	—	$7.0M	—
ApeX Omni SUSDTlong	+0.0100%	1h	0.04610	long leg	$26K	$523K	50x
Extended S-USD	+0.0104%	1h	0.04567	−0.938%	$243K	$1.3M	10x	as long as short
Injective S/USDC PERP	+0.0140%	1h	0.04600	−0.217%	$2K	$2	12x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04572	−0.824%	$332K	$217K	75x	as long as short
Backpack S_USDC_PERP	+0.0662%	1h	0.04580	−0.651%	$109K	$463K	5x	as long as short