Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.012%

Price spread now: ApeX Omni against Binance+0.099%89s7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as 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−$300.304% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.135%+$14 on $10k

Price spread, last 4 days (all we have)−0.182%−$18 · spread now +0.099%, 7d avg −0.009%

Together, before fees−0.047%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.107% dearer against Binance than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.009%. The two prices were read 89 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	Binance COINUSDT	196.79	0	get 0.0000% / 8h	3h 39m	$14.7M	$79.9M	20x
Short	ApeX Omni COINUSDT	196.98	0.0100	get 0.0013% / 1h	39m 59s	$89K	$287K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now +0.099%Rate

Funding earned: $21
Price spread: +0.099% → −0.009%: $10.72
Slippage, 4 orders: −$10.35
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $1.37
Costs to cover: 0.304%
Break-even: 6.5 days

Slippage from Binance: live order book, 3 min ago; ApeX Omni: live order book, 12 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 Binance live order book, 3 min ago	0.25 bp	8.0 bp −$8	15.2 bp −$152	54.6 bp −$5,458	doesn't fit
Sell ApeX Omni live order book, 12 min ago	2.79 bp	7.8 bp −$8	13.0 bp −$130	doesn't fit	doesn't fit

COIN on 26 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
Bitget COINUSDT	−0.0687%	8h	196.87	+0.043%	$6.3M	$10.4M	20x	as long as short
Injective COIN/USDC PERP	−0.0440%	1h	196.82	+0.017%	$43K	$48K	30x	as long as short
Gate COIN_USDT	−0.0226%	8h	196.80	+0.007%	$1.2M	$7.3M	50x	as long as short
Vest COIN-USD-PERP	−0.0110%	1h	196.22	−0.288%	—	$266K	25x	as long as short
Aster COINUSDT	0.0000%	8h	196.89	+0.055%	$344K	$890K	20x	as long as short
Extended COIN_24_5-USD	0.0000%	1h	196.73	−0.027%	$117K	$689K	10x	as long as short
Binance COINUSDTlong	0.0000%	8h	196.79	long leg	$14.7M	$79.9M	20x
Bybit COINUSDT	0.0000%	8h	196.80	+0.007%	$4.8M	$6.0M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	196.74	−0.023%	$3.0M	$4.6M	20x	as long as short
Variational Omni COIN	0.0000%	8h	196.74	−0.023%	$684K	$939K	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	197.00	+0.109%	$12K	$2.4M	10x	as long as short
QFEX COIN-USD	+0.0020%	1h	196.74	−0.023%	$1.3M	$3.2M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	196.74	−0.023%	$451K	$1.5M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	196.98	+0.099%	$15K	$55K	5x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	196.64	−0.074%	$15.4M	$13.6M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	196.60	−0.095%	$134K	$1.2M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	196.73	−0.028%	$79	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	196.54	−0.125%	$350K	$2.7M	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	196.72	−0.034%	$992K	$143K	20x	as long as short
ApeX Omni COINUSDTshort	+0.0100%	1h	196.98	+0.099%	$89K	$287K	50x
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	196.73	−0.028%	$569	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	196.76	−0.013%	$116	—	10x	as long as short
Lighter COIN	+0.0112%	1h	196.76	−0.014%	$340K	$2.0M	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	196.79	+0.002%	$188K	$393K	20x	as long as short
Phoenix COIN	+0.0122%	1h	196.84	+0.027%	$4K	$283K	10x	as long as short
edgeX COINUSDC	+0.0784%	4h	196.93	+0.075%	$51K	$294K	10x	as long as short