Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0133%/8h= +14.6% APRpaid last 24h +0.042%

Price spread now: ApeX Omni against OKX+0.265%60s7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as 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−$710.706% 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+0.030%+$3 on $10k

Price spread, last 4 days (all we have)+0.174%+$17 · spread now +0.265%, 7d avg +0.095%

Together, before fees+0.204%+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and ApeX Omni is 0.170% dearer against OKX than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.095%. The two prices were read 60 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 AR-USDT-SWAP	4.5310	−0.0033	get 0.0033% / 8h	5h 04m	$2.3M	$18.4M	20x
Short	ApeX Omni ARUSDT	4.5430	0.0100	get 0.0013% / 1h	4m 27s	$20K	$722K	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 +0.265%Rate

Funding earned: $27.95
Price spread: +0.265% → +0.095%: $17.03
Slippage, 4 orders: −$50.56
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$25.58
Costs to cover: 0.706%
Break-even: 13.4 days

Slippage from OKX: live order book, 4 min ago; ApeX Omni: live order book, 59 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, 4 min ago	3.30 bp	14.3 bp −$14	184.8 bp −$1,848	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 59 min ago	7.70 bp	15.8 bp −$16	135.6 bp −$1,356	doesn't fit	doesn't fit

AR on 17 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
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5287	−0.050%	$582K	—	50x	as long as short
OKX AR-USDT-SWAPlong	−0.0033%	8h	4.5310	long leg	$2.3M	$18.4M	20x
Injective AR/USDC PERP	+0.0033%	1h	4.5290	−0.044%	$548	$3K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5416	+0.234%	$4.1M	$4.5M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5323	+0.028%	$19K	$492K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.5357	+0.103%	$9.0M	$50.4M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5360	+0.110%	$4.7M	$8.2M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.5340	+0.066%	$2.6M	$2.0M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.5350	+0.088%	$6.5M	$4.3M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5310	0.000%	$1.2M	$1.2M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ARUSDT	+0.0100%	8h	4.5330	+0.044%	$4.0M	$5.2M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5350	+0.088%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5306	−0.008%	$235K	$242K	—	as long as short
ApeX Omni ARUSDTshort	+0.0100%	1h	4.5430	+0.265%	$20K	$722K	50x
Extended AR-USD	+0.0104%	1h	4.5355	+0.100%	$37K	$235K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.5310	0.000%	$433K	$491K	20x	as long as short
Kraken Futures PF_ARUSD	+0.1927%	1h	4.5371	+0.135%	$56K	$149K	20x	as long as short