Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Bitget+0.420%93s7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$164as 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−$1711.709% of the position

Long on Bitget Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 4 days (all we have)+0.323%+$32 · spread now +0.420%, 7d avg −0.002%

Together, before fees+0.396%+$40 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: ApeX Omni is 0.422% dearer against Bitget than usual: you sell high and buy low, +$42 on $10k if it goes back to its 7-day average of −0.002%. The two prices were read 93 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	Bitget SUSDT	0.04043	0.0100	pay 0.0050% / 4h	1h 59m	$1.2M	$2.3M	50x
Short	ApeX Omni SUSDT	0.04060	0.0100	get 0.0013% / 1h	59m 56s	$24K	$444K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bitget. 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 BitgetbpFee ApeX OmnibpOrdersPrice spread, now +0.420%Rate

Funding earned: $0
Price spread: +0.420% → −0.002%: $42.22
Slippage, 4 orders: −$148.88
Fee Bitget: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$128.67
Costs to cover: 1.709%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; ApeX Omni: live order book, 3 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 Bitget live order book, 2 min ago	6.14 bp	23.4 bp −$23	60.9 bp −$609	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 3 min ago	36.90 bp	63.0 bp −$63	doesn't fit	doesn't fit	doesn't fit

S on 24 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	−0.8976%	1h	0.03950	−2.300%	$24K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1464%	1h	0.04022	−0.519%	$48K	$16K	25x	as long as short
Kraken Futures PF_SUSD	−0.1254%	1h	0.04039	−0.103%	$34K	$16K	10x	as long as short
Variational Omni S	−0.0350%	4h	0.04052	+0.230%	$630K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04040	−0.064%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04039	−0.091%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04043	−0.012%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.410%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0054%	4h	0.04041	−0.049%	$100K	$331K	10x	as long as short
Lighter S	+0.0096%	1h	0.04047	+0.099%	$168K	$167K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04042	−0.030%	$1.0M	$563K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04046	+0.070%	$44K	$134K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04039	−0.096%	$5.6M	$14.4M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04036	−0.173%	$5.8M	$4.6M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04041	−0.049%	$1.0M	$4.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04046	+0.074%	$333K	$207K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04043	0.000%	$3.9M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04039	−0.099%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDTlong	+0.0100%	4h	0.04043	long leg	$1.2M	$2.3M	50x
BingX S-USDT	+0.0100%	4h	0.04040	−0.074%	—	$6.8M	—	as long as short
ApeX Omni SUSDTshort	+0.0100%	1h	0.04060	+0.420%	$24K	$444K	50x
Extended S-USD	+0.0104%	1h	0.04041	−0.055%	$228K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0492%	1h	0.04047	+0.099%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.0958%	1h	0.04050	+0.173%	$118K	$351K	5x	as long as short