Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0199%/8h= +21.8% APRpaid last 24h −0.024%

Price spread now: ApeX Omni against BloFin+0.171%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$230.227% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.309%−$31 on $10k

Price spread, last 4 days (all we have)+0.232%+$23 · spread now +0.171%, 7d avg +0.001%

Together, before fees−0.076%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and ApeX Omni is 0.170% dearer against BloFin than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.001%. Mind the row above: over the last 7 days funding on this pair cost −0.309%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ETH-USDT	2,727	−0.0174	get 0.0174% / 8h	7h 32m	$280.2M	$176.7M	150x
Short	ApeX Omni ETHUSDT	2,731.7	0.0025	get 0.0003% / 1h	32m 54s	$8.4M	$31.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now +0.171%Rate

Funding earned: $41.82
Price spread: +0.171% → +0.001%: $17.03
Slippage, 4 orders: −$0.7
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $36.16
Costs to cover: 0.227%
Break-even: 0.9 days

Slippage from BloFin: live order book, 6 min ago; ApeX Omni: live order book, 6 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 BloFin live order book, 6 min ago	0.02 bp	6.0 bp −$6	6.0 bp −$60	7.3 bp −$730	10.0 bp −$4,990
Sell ApeX Omni live order book, 6 min ago	0.33 bp	5.3 bp −$5	5.5 bp −$55	22.2 bp −$2,223	77.7 bp −$38.9K

ETH on 55 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
BloFin ETH-USDTlong	−0.0174%	8h	2,727	long leg	$280.2M	$176.7M	150x
HTX ETH-USDT	−0.0113%	8h	2,726.5	−0.018%	$1.05B	$1.21B	200x	as long as short
Perpl ETH	−0.0112%	43m	2,731.1	+0.150%	$277K	$5.7M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,727	0.000%	$5K	$1K	50x	as long as short
Bybit ETHUSDT	−0.0060%	8h	2,726.6	−0.016%	$2.31B	$4.29B	150x	as long as short
SunX ETH-USDT	−0.0024%	8h	2,726.3	−0.026%	$940K	$10.6M	100x	as long as short
Phoenix ETH	−0.0012%	1h	2,732	+0.184%	$806K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,727.4	+0.015%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,728	+0.039%	$10.5M	$41.9M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,728.4	+0.052%	$6.7M	$669.8M	4.9x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ETH-PERPETUAL	0.0000%	1h	2,728.7	+0.061%	$264.1M	$219.8M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,728.3	+0.046%	$32.9M	—	200x	as long as short
Gate ETH_USDT	+0.0024%	8h	2,727.3	+0.010%	$3.27B	$8.26B	200x	as long as short
ApeX Omni ETHUSDTshort	+0.0025%	1h	2,731.7	+0.171%	$8.4M	$31.2M	100x
01 Exchange ETHUSD	+0.0040%	1h	2,727.8	+0.030%	$194K	$889K	50x	as long as short
Hibachi ETH/USDT-P	+0.0048%	1h	2,731.4	+0.162%	$237K	$1.4M	20x	as long as short
SoDEX ETH-USD	+0.0052%	1h	2,727.5	+0.019%	$54.3M	$182.4M	40x	as long as short
OKX ETH-USDT-SWAP	+0.0076%	8h	2,727.3	+0.011%	$1.65B	$10.63B	100x	as long as short
Aster ETHUSDT	+0.0076%	8h	2,727	+0.001%	$252.3M	$843.2M	200x	as long as short
Aevo ETH-PERP	+0.0080%	1h	2,727.8	+0.030%	$4.9M	$195K	20x	as long as short
KuCoin ETHUSDTM	+0.0083%	8h	2,727.2	+0.006%	$382.8M	$573.1M	100x	as long as short
MEXC ETH_USDT	+0.0087%	8h	2,727	0.000%	$1.57B	$2.56B	500x	as long as short
Binance ETHUSDT	+0.0087%	8h	2,726.6	−0.015%	$6.31B	$16.00B	150x	as long as short
Bullet ETH-USD	+0.0089%	1h	2,727.2	+0.007%	$176K	$1.7M	20x	as long as short
Lighter ETH	+0.0096%	1h	2,728.4	+0.051%	$112.4M	$401.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,729.6	+0.095%	$23.7M	$96.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,727.8	+0.031%	—	$30.4M	500x	as long as short
Phemex ETHUSDT	+0.0096%	8h	2,727.8	+0.030%	$262.8M	$63.2M	150x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,727.4	+0.015%	$497K	$3.6M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,731	+0.147%	$15.4M	$7.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,727.3	+0.010%	$14.3M	$101.0M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,729.7	+0.099%	$3.11B	$2.03B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,728.3	+0.048%	$32.1M	$333.3M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,726.8	−0.007%	$2.7M	$16.3M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,727.6	+0.023%	$1.6M	$15.8M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,729.4	+0.088%	$164.7M	$339.6M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,727.5	+0.019%	$2.11B	$2.73B	150x	as long as short
BingX ETH-USDC	+0.0100%	8h	2,726.1	−0.034%	—	$18.7M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,727.2	+0.009%	$15.1M	$39.9M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,730.8	+0.138%	$132.0M	$316.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,731	+0.147%	$185.8M	$683.1M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,731.8	+0.176%	$158.8M	$80.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,731.5	+0.165%	$21.0M	$70.9M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,729.8	+0.105%	—	$436K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,727.3	+0.011%	$11.2M	$9.3M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,732.9	+0.216%	$40.6M	$29.2M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,726.5	−0.019%	$30.5M	$71.0M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,728.4	+0.052%	$81.9M	$309.0M	100x	as long as short
Aftermath Perps ETHUSD	+0.0118%	1h	2,731.1	+0.153%	$30K	$20K	20x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	2,728.6	+0.058%	$45.9M	$4.22B	50x	as long as short
RISEx ETH/USDC	+0.0137%	1h	2,728.2	+0.043%	$5.7M	$11.4M	25x	as long as short
Reya ETHRUSDPERP	+0.0172%	1h	2,729.3	+0.086%	$7.3M	$972K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0184%	8h	2,729.1	+0.078%	$32.2M	$10.9M	100x	as long as short
Injective ETH/USDC PERP	+0.0253%	1h	2,735	+0.294%	$117K	$21.0M	52x	as long as short
Bluefin ETH-PERP	+0.1794%	1h	2,727.9	+0.033%	$20K	$23K	25x	as long as short