Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against BingX−0.052%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1391.386% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.176%+$18 · spread now −0.052%, 7d avg +0.001%

Together, before fees+0.176%+$18 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.053% cheaper against BingX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LAYER-USDT	0.07694	0.0100	pay 0.0050% / 4h	41m 24s	—	$1.6M	—
Short	ApeX Omni LAYERUSDT	0.07690	0.0100	get 0.0013% / 1h	41m 24s	$16K	$193K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BingX. 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 BingXbpFee ApeX OmnibpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → +0.001%: −$5.3
Slippage, 4 orders: −$118.58
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$143.89
Costs to cover: 1.386%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; ApeX Omni: live order book, 60 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 BingX live order book, 5 min ago	4.55 bp	23.7 bp −$24	122.3 bp −$1,223	547.6 bp −$54.8K	705.6 bp −$352.8K
Sell ApeX Omni live order book, 60 min ago	13.04 bp	44.5 bp −$44	doesn't fit	doesn't fit	doesn't fit

LAYER on 13 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
Kraken Futures PF_LAYERUSD	−0.0147%	1h	0.07670	−0.308%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.459%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07704	+0.134%	$593K	$162K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07697	+0.040%	$10K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07692	−0.024%	$2.1M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07687	−0.091%	$716K	$611K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07699	+0.065%	$142K	$38K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07690	−0.052%	$370K	$128K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07693	−0.013%	$1.1M	$106K	50x	as long as short
BingX LAYER-USDTlong	+0.0100%	4h	0.07694	long leg	—	$1.6M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDTshort	+0.0100%	1h	0.07690	−0.052%	$16K	$193K	50x
Extended LAYER-USD	+0.0104%	1h	0.07691	−0.040%	$254	$216K	5x	as long as short
BloFin LAYER-USDT	+0.0123%	4h	0.07690	−0.052%	$113K	$15K	50x	as long as short