Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.057%

Price spread now: ApeX Omni against OKX+0.153%50s7-day average +0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs−$172as 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−$1941.944% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.220%+$22 on $10k

Price spread, last 3 days (all we have)+0.386%+$39 · spread now +0.153%, 7d avg +0.101%

Together, before fees+0.606%+$61 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 0.052% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.101%. The two prices were read 50 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	OKX S-USDT-SWAP	0.03924	0.0100	pay 0.0050% / 4h	1h 46m	$979K	$6.6M	20x
Short	ApeX Omni SUSDT	0.03930	0.0100	get 0.0013% / 1h	46m 32s	$23K	$464K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now +0.153%Rate

Funding earned: $0
Price spread: +0.153% → +0.101%: $5.18
Slippage, 4 orders: −$174.41
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$189.23
Costs to cover: 1.944%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; ApeX Omni: live order book, 36 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 OKX live order book, 1 min ago	1.27 bp	25.7 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 36 min ago	25.51 bp	77.1 bp −$77	doesn't fit	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
Kraken Futures PF_SUSD	−0.1591%	1h	0.03929	+0.129%	$33K	$30K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.497%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0836%	4h	0.03913	−0.289%	$609K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0194% / S +0.0187%	1h	0.03934	+0.265%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03930	+0.153%	$4	—	15x	as long as short
01 Exchange SUSD	−0.0024%	1h	0.03920	−0.102%	$24K	$2K	5x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.03934	+0.255%	$66K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03934	+0.264%	$606	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.03931	+0.178%	$100K	$348K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.485%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SUSDT	+0.0051%	4h	0.03932	+0.209%	$43K	$212K	10x	as long as short
Lighter S	+0.0096%	1h	0.03931	+0.178%	$165K	$222K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03927	+0.089%	$986K	$787K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03926	+0.055%	$5.4M	$21.0M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03922	−0.051%	$5.6M	$6.0M	50x	as long as short
OKX S-USDT-SWAPlong	+0.0100%	4h	0.03924	long leg	$979K	$6.6M	20x
Gate S_USDT	+0.0100%	4h	0.03923	−0.025%	$321K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03926	+0.051%	$3.6M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03926	+0.051%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03928	+0.102%	$1.2M	$2.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03926	+0.051%	—	$6.8M	—	as long as short
ApeX Omni SUSDTshort	+0.0100%	1h	0.03930	+0.153%	$23K	$464K	50x
Extended S-USD	+0.0104%	1h	0.03924	−0.004%	$221K	$881K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03934	+0.255%	$269K	$128K	75x	as long as short
Backpack S_USDC_PERP	+0.0386%	1h	0.03930	+0.153%	$114K	$302K	5x	as long as short