Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: ApeX Omni against Hyperliquid−0.135%85s7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$136as 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−$1361.359% of the position

Long on Hyperliquid 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 3 days (all we have)+0.162%+$16 · spread now −0.135%, 7d avg −0.099%

Together, before fees+0.161%+ Points / potential airdropHyperliquid: Season 2 · farm board+$16 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 0.035% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.099%. The two prices were read 85 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	Hyperliquid LAYER	0.07580	0.0100	pay 0.0013% / 1h	37m 59s	$583K	$161K	3x
Short	ApeX Omni LAYERUSDT	0.07570	0.0100	get 0.0013% / 1h	37m 59s	$25K	$187K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Hyperliquid. 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 HyperliquidbpFee ApeX OmnibpOrdersPrice spread, now −0.135%Rate

Funding earned: $0
Price spread: −0.135% → −0.099%: −$3.52
Slippage, 4 orders: −$116.89
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$139.41
Costs to cover: 1.359%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 46 min ago; ApeX Omni: live order book, 48 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 Hyperliquid live order book, 46 min ago	0.92 bp	23.1 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 48 min ago	13.14 bp	50.6 bp −$51	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	−0.0468%	1h	0.07573	−0.099%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.039%	—	$18K	5.5x	as long as short
Hyperliquid LAYERlong	+0.0100%	1h	0.07580	long leg	$583K	$161K	3x
Aster LAYERUSDT	+0.0100%	4h	0.07567	−0.170%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07570	−0.139%	$2.0M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07567	−0.174%	$697K	$639K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07570	−0.135%	$135K	$54K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07571	−0.121%	$349K	$114K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07564	−0.214%	$1.1M	$162K	50x	as long as short
ApeX Omni LAYERUSDTshort	+0.0100%	1h	0.07570	−0.135%	$25K	$187K	50x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended LAYER-USD	+0.0104%	1h	0.07569	−0.153%	$2K	$174K	5x	as long as short
BingX LAYER-USDT	+0.0142%	4h	0.07574	−0.082%	—	$1.6M	—	as long as short
BloFin LAYER-USDT	+0.0158%	4h	0.07577	−0.042%	$113K	$12K	50x	as long as short