Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0045%/8h= −4.9% APRpaid last 24h −0.008%

Price spread now: ApeX Omni against MEXC−0.050%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$130.130% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 7 days+0.044%+$4 · spread now −0.050%, 7d avg +0.008%

Together, before fees−0.033%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and ApeX Omni is 0.058% cheaper against MEXC than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.008%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ETH_USDT	2,734	0.0094	pay 0.0094% / 8h	4h 17m	$1.55B	$2.57B	500x
Short	ApeX Omni ETHUSDT	2,732.7	0.0049	get 0.0006% / 1h	17m 21s	$8.7M	$31.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now −0.050%Rate

Funding earned: −$9.44
Price spread: −0.050% → +0.008%: −$5.85
Slippage, 4 orders: −$0.99
Fee MEXC: 1 bp × 2 orders: −$2
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$28.28
Costs to cover: 0.130%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; ApeX Omni: live order book, 2 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 MEXC live order book, 2 min ago	0.02 bp	1.0 bp −$1	1.0 bp −$10	1.2 bp −$116	3.5 bp −$1,750
Sell ApeX Omni live order book, 2 min ago	0.02 bp	5.9 bp −$6	6.1 bp −$61	23.7 bp −$2,366	73.5 bp −$36.7K

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	2,732.8	−0.046%	$297K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,734.2	+0.006%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,732.3	−0.064%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,734.7	+0.022%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,733.1	−0.035%	$10.8M	$41.6M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,734.5	+0.017%	$187K	$823K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,733.9	−0.005%	$828K	$2.9M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,734.9	+0.030%	$28.1M	—	200x	as long as short
Bullet ETH-USD	+0.0009%	1h	2,733.9	−0.005%	$179K	$1.7M	20x	as long as short
HTX ETH-USDT	+0.0039%	8h	2,730.9	−0.114%	$1.05B	$1.20B	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ETHUSDTshort	+0.0049%	1h	2,732.7	−0.050%	$8.7M	$31.3M	100x
BingX ETH-USDC	+0.0052%	8h	2,733.6	−0.017%	—	$18.4M	—	as long as short
Bybit ETHUSDT	+0.0059%	8h	2,734	−0.002%	$2.39B	$4.35B	150x	as long as short
KuCoin ETHUSDTM	+0.0064%	8h	2,734	−0.002%	$380.3M	$574.5M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0072%	8h	2,734.3	+0.011%	$1.67B	$10.72B	100x	as long as short
Phemex ETHUSDT	+0.0077%	8h	2,731.8	−0.082%	$265.6M	$65.3M	150x	as long as short
Aster ETHUSDT	+0.0085%	8h	2,734.3	+0.010%	$251.1M	$841.9M	200x	as long as short
SoDEX ETH-USD	+0.0091%	1h	2,734.3	+0.010%	$54.5M	$187.6M	40x	as long as short
Binance ETHUSDT	+0.0094%	8h	2,734.3	+0.010%	$6.35B	$15.87B	150x	as long as short
MEXC ETH_USDTlong	+0.0094%	8h	2,734	long leg	$1.55B	$2.57B	500x
Lighter ETH	+0.0096%	1h	2,733.8	−0.010%	$112.9M	$440.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,735	+0.033%	$23.4M	$106.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,734.6	+0.019%	—	$30.9M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,731.8	−0.081%	$4.9M	$155K	20x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,737.3	+0.120%	$15.5M	$8.0M	50x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,734.6	+0.021%	$5.6M	$11.6M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,733.5	−0.020%	$500K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,733.7	−0.011%	$13.6M	$104.4M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,736.4	+0.086%	$3.11B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,735	+0.034%	$31.9M	$333.9M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,733.6	−0.016%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,734.7	+0.024%	$1.6M	$16.3M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,734.4	+0.011%	$3.34B	$8.91B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,734.3	+0.010%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,732.3	−0.063%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,731.5	−0.094%	$133.7M	$325.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,732.2	−0.069%	$183.8M	$671.9M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,732.8	−0.046%	$159.0M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,732	−0.075%	$21.1M	$68.1M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,734.6	+0.020%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,735.6	+0.057%	$11.2M	$9.2M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,734.3	+0.011%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,736.3	+0.081%	$41.3M	$29.8M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,733	−0.038%	$958K	$11.3M	100x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,734.8	+0.029%	$164.8M	$300.4M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,733.6	−0.017%	$30.4M	$72.7M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0108%	1h	2,735.7	+0.061%	$259.7M	$196.4M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,735.5	+0.055%	$51.3M	$4.27B	50x	as long as short
Aftermath Perps ETHUSD	+0.0115%	1h	2,734.1	+0.004%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0137%	8h	2,732	−0.075%	$6.8M	$678.6M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0195%	8h	2,736.6	+0.094%	$32.2M	$11.6M	100x	as long as short
Reya ETHRUSDPERP	+0.0219%	1h	2,733.3	−0.026%	$7.3M	$1.2M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,735.1	+0.040%	$83.4M	$314.7M	100x	as long as short
Hibachi ETH/USDT-P	+0.0272%	1h	2,733.1	−0.035%	$253K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0380%	8h	2,731.7	−0.087%	$282.3M	$175.5M	150x	as long as short