Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h +0.017%

Price spread now: ApeX Omni against Gate+0.291%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs$0as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 7 days−0.309%−$31 · spread now +0.291%, 7d avg +0.007%

Together, before fees−0.349%−$35 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and ApeX Omni is 0.284% dearer against Gate than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ETH_USDT	2,769.7	0.0072	pay 0.0072% / 8h	1h 31m	$3.28B	$9.60B	200x
Short	ApeX Omni ETHUSDT	2,777.8	0.0097	get 0.0012% / 1h	31m 19s	$8.7M	$32.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.291%Rate

Funding earned: $5.21
Price spread: +0.291% → +0.007%: $28.43
Slippage, 4 orders: −$3.06
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $5.58
Costs to cover: 0.281%
Break-even: from the start

Slippage from Gate: live order book, 3 min ago; ApeX Omni: live order book, 3 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 Gate live order book, 3 min ago	0.02 bp	7.5 bp −$8	7.5 bp −$75	10.9 bp −$1,086	20.7 bp −$10.4K
Sell ApeX Omni live order book, 3 min ago	1.48 bp	6.5 bp −$7	7.2 bp −$72	20.5 bp −$2,052	81.5 bp −$40.7K

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
Perpl ETH	−0.0447%	43m	2,770.9	+0.043%	$289K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,769.7	+0.001%	$5.8M	$12.1M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,770.7	+0.037%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,770.3	+0.022%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,770.3	+0.022%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0022%	1h	2,775.8	+0.223%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,770.5	+0.030%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,778.1	+0.304%	$886K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,770.5	+0.030%	$22.4M	—	200x	as long as short
BingX ETH-USDT	+0.0016%	8h	2,769.6	−0.003%	—	$1.18B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0020%	8h	2,767.6	−0.077%	$1.70B	$11.80B	100x	as long as short
Phemex ETHUSDT	+0.0026%	8h	2,768.1	−0.057%	$269.2M	$68.7M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,770.4	+0.026%	$12.9M	—	200x	as long as short
Aster ETHUSDT	+0.0034%	8h	2,769.4	−0.009%	$255.7M	$990.6M	200x	as long as short
Deribit ETH-PERPETUAL	+0.0035%	1h	2,770.2	+0.017%	$258.3M	$222.2M	50x	as long as short
Bullet ETH-USD	+0.0037%	1h	2,769.8	+0.003%	$180K	$1.7M	20x	as long as short
MEXC ETH_USDT	+0.0060%	8h	2,769.8	+0.003%	$1.62B	$2.66B	500x	as long as short
Binance ETHUSDT	+0.0060%	8h	2,767.7	−0.070%	$6.42B	$17.15B	150x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,767.9	−0.065%	$5.0M	$636K	20x	as long as short
Nado ETH-PERP	+0.0064%	1h	2,769.2	−0.017%	$14.3M	$118.0M	50x	as long as short
SoDEX ETH-USD	+0.0071%	1h	2,768.5	−0.043%	$55.1M	$228.8M	40x	as long as short
Gate ETH_USDTlong	+0.0072%	8h	2,769.7	long leg	$3.28B	$9.60B	200x
Bitget ETHUSDT	+0.0072%	8h	2,768.3	−0.050%	$2.10B	$3.10B	150x	as long as short
Bybit ETHUSDT	+0.0092%	8h	2,767.4	−0.083%	$2.51B	$4.61B	150x	as long as short
HTX ETH-USDT	+0.0094%	8h	2,767.5	−0.078%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,768.4	−0.046%	$114.8M	$499.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,769.4	−0.010%	$25.3M	$121.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,771	+0.048%	—	$41.5M	500x	as long as short
ApeX Omni ETHUSDTshort	+0.0097%	1h	2,777.8	+0.291%	$8.7M	$32.5M	100x
KuCoin ETHUSDTM	+0.0098%	8h	2,769.8	+0.003%	$424.5M	$738.1M	100x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,769.6	−0.003%	$15.9M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,769.9	+0.008%	$479K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,772.2	+0.091%	$3.18B	$2.37B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,770.2	+0.021%	$31.3M	$297.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,768.9	−0.028%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,771.6	+0.069%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,781.3	+0.420%	$166.9M	$248.1M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,771	+0.049%	$15.2M	$44.5M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,774.6	+0.177%	$135.3M	$322.5M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,777.1	+0.266%	$180.0M	$780.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,777	+0.265%	$161.5M	$91.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,772.6	+0.105%	$21.4M	$58.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,770.9	+0.046%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,771.2	+0.055%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,769.6	−0.002%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,770.9	+0.043%	$42.6M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,767.9	−0.065%	$971K	$14.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,767.9	−0.064%	$31.4M	$74.5M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,770	+0.010%	$60.0M	$4.59B	50x	as long as short
Kalshi KXETHPERP	+0.0118%	8h	2,771.7	+0.073%	$8.7M	$675.3M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0137%	8h	2,771.2	+0.054%	$32.5M	$12.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0168%	1h	2,773.6	+0.140%	$278K	$1.5M	20x	as long as short
Kraken Futures PF_ETHUSD	+0.0170%	1h	2,769.3	−0.013%	$86.0M	$331.4M	100x	as long as short
BloFin ETH-USDT	+0.0180%	8h	2,768.3	−0.051%	$283.9M	$193.9M	150x	as long as short
Reya ETHRUSDPERP	+0.0190%	1h	2,769.7	0.000%	$7.3M	$1.2M	25x	as long as short