Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0588%/8h= +64.4% APRpaid last 24h +0.030%

Price spread now: BloFin against ApeX Omni−0.074%583s7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$96as 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−$990.987% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 3 days (all we have)+0.080%+$8 · spread now −0.074%, 7d avg −0.036%

Together, before fees+0.105%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.038% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.074% now, against its 7-day average of −0.036%). If the spread goes back, that is −$4 on $10k: about 5 hours of funding at the current rate (+$18 a day). At the pace of the last 7 days (+0.024% in total) that is about 11 days. The two prices were read 583 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.024% in total (about 1.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SIGNUSDT	0.01210	−0.0579	get 0.0072% / 1h	39m 23s	$30K	$662K	50x
Short	BloFin SIGN-USDT	0.01209	0.0009	get 0.0005% / 4h	2h 39m	$124K	$16K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.074%Rate

Funding earned: $123.5
Price spread: −0.074% → −0.036%: −$3.82
Slippage, 4 orders: −$76.72
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $20.95
Costs to cover: 0.987%
Break-even: 5.8 days

Slippage from ApeX Omni: live order book, 29 min ago; BloFin: live order book, 11 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, 29 min ago	16.45 bp	26.2 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 11 min ago	1.24 bp	27.4 bp −$27	doesn't fit	doesn't fit	doesn't fit

SIGN on 12 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
ApeX Omni SIGNUSDTlong	−0.0579%	1h	0.01210	long leg	$30K	$662K	50x
Aster SIGNUSDT	−0.0324%	4h	0.01205	−0.421%	$10K	$5K	5x	as long as short
Gate SIGN_USDT	−0.0182%	4h	0.01204	−0.496%	$92K	$34K	25x	as long as short
Variational Omni SIGN	−0.0131%	4h	0.01203	−0.582%	$82K	$2K	—	as long as short
Binance SIGNUSDT	−0.0044%	4h	0.01207	−0.268%	$2.3M	$1.7M	25x	as long as short
MEXC SIGN_USDT	−0.0044%	4h	0.01207	−0.231%	$12.2M	$118K	20x	as long as short
BloFin SIGN-USDTshort	+0.0009%	4h	0.01209	−0.074%	$124K	$16K	25x
Bybit SIGNUSDT	+0.0100%	4h	0.01204	−0.521%	$2.1M	$415K	25x	as long as short
OKX SIGN-USDT-SWAP	+0.0100%	4h	0.01202	−0.661%	$654K	$314K	20x	as long as short
KuCoin SIGNUSDTM	+0.0100%	4h	0.01207	−0.248%	$1.5M	$16K	25x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SIGNUSDT	+0.0100%	4h	0.01206	−0.339%	$921K	$173K	25x	as long as short
BingX SIGN-USDT	+0.0100%	4h	0.01205	−0.455%	—	$6.6M	—	as long as short