Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.012%

Price spread now: KuCoin against ApeX Omni+0.202%82s7-day average −0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$311as 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−$3073.067% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 4 days (all we have)−0.772%−$77 · spread now +0.202%, 7d avg −0.110%

Together, before fees−0.819%−$82 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: KuCoin is 0.312% dearer against ApeX Omni than usual: you sell high and buy low, +$31 on $10k if it goes back to its 7-day average of −0.110%. The two prices were read 82 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	0.03960	0.0100	pay 0.0013% / 1h	16m 09s	$24K	$463K	50x
Short	KuCoin SUSDTM	0.03968	0.0100	get 0.0050% / 4h	3h 16m	$1.8M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.202%Rate

Funding earned: $0
Price spread: +0.202% → −0.110%: $31.24
Slippage, 4 orders: −$284.72
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$275.48
Costs to cover: 3.067%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 36 min ago; KuCoin: live order book, 6 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, 36 min ago	25.00 bp	85.7 bp −$86	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	5.04 bp	93.4 bp −$93	267.8 bp −$2,678	doesn't fit	doesn't fit

S on 25 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
01 Exchange SUSD	−0.4512%	1h	0.03840	−3.030%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2247%	1h	0.03965	+0.120%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1344%	1h	0.03927	−0.833%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03970	+0.258%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03967	+0.186%	$4	—	15x	as long as short
Variational Omni S	−0.0001%	4h	0.03960	−0.005%	$614K	$30K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03970	+0.245%	$612	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.535%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0082%	4h	0.03969	+0.227%	$99K	$291K	10x	as long as short
Lighter S	+0.0096%	1h	0.03975	+0.379%	$168K	$157K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03972	+0.298%	$995K	$590K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03970	+0.262%	$46K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03970	+0.263%	$5.5M	$13.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03963	+0.076%	$5.7M	$4.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03966	+0.152%	$984K	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03967	+0.177%	$323K	$191K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03969	+0.227%	$3.6M	$1.7M	200x	as long as short
KuCoin SUSDTMshort	+0.0100%	4h	0.03968	+0.202%	$1.8M	$2.7M	50x
Bitget SUSDT	+0.0100%	4h	0.03970	+0.253%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03969	+0.227%	—	$6.8M	—	as long as short
ApeX Omni SUSDTlong	+0.0100%	1h	0.03960	long leg	$24K	$463K	50x
Extended S-USD	+0.0104%	1h	0.03968	+0.212%	$224K	$593K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03960	0.000%	$272K	$102K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.1009%	1h	0.03976	+0.404%	$67K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1364%	1h	0.03970	+0.253%	$115K	$423K	5x	as long as short