Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against BingX+0.344%68s7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as 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−$600.600% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.344% dearer against BingX than usual: you sell high and buy low, +$34 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 68 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	BingX OP-USDT	0.1251	0.0100	pay 0.0100% / 8h	1h 04m	—	$6.8M	—
Short	ApeX Omni OPUSDT	0.1255	0.0100	get 0.0013% / 1h	4m 21s	$43K	$697K	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 +0.344%Rate

Funding earned: $0
Price spread: +0.344% → 0.000%: $34.38
Slippage, 4 orders: −$40.04
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$25.66
Costs to cover: 0.600%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; ApeX Omni: live order book, 39 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, 3 min ago	0.40 bp	9.8 bp −$10	15.5 bp −$155	94.1 bp −$9,409	464.5 bp −$232.3K
Sell ApeX Omni live order book, 39 min ago	11.88 bp	20.4 bp −$20	116.9 bp −$1,169	doesn't fit	doesn't fit

OP on 30 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
Injective OP/USDC PERP	−0.1760%	1h	0.1247	−0.296%	$34K	$59K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.0898% / S +0.0202%	1h	0.1250	−0.026%	$13K	—	100x	as long as short
Deribit OP_USDC-PERPETUAL	−0.0549%	1h	0.1250	−0.056%	$32K	$154K	25x	as long as short
Orderly PERP_OP_USDC	−0.0055%	8h	0.1251	+0.024%	$12K	$236K	10x	as long as short
Kraken Futures PF_OPUSD	−0.0034%	1h	0.1251	+0.033%	$751K	$666K	20x	as long as short
dYdX OP-USD	0.0000%	1h	0.1252	+0.072%	$39K	$522	10x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1251	+0.018%	—	—	150x	as long as short
Variational Omni OP	+0.0016%	8h	0.1255	+0.338%	$222K	$47K	—	as long as short
Coinbase International OP-PERP-INTX	+0.0032%	1h	0.1253	+0.184%	$24K	$65K	50x	as long as short
KuCoin OPUSDTM	+0.0070%	8h	0.1250	−0.056%	$2.8M	$6.2M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter OP	+0.0096%	1h	0.1251	+0.032%	$274K	$1.1M	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1251	+0.024%	$3.5M	$3.7M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1251	+0.049%	$206K	$210K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1250	−0.048%	$19.7M	$67.0M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1250	−0.072%	$18.3M	$26.1M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1250	−0.016%	$6.0M	$29.4M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1251	+0.040%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1250	−0.064%	$22.4M	$8.0M	300x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1250	−0.056%	$5.7M	$6.9M	75x	as long as short
BingX OP-USDTlong	+0.0100%	8h	0.1251	long leg	—	$6.8M	—
Backpack OP_USDC_PERP	+0.0100%	1h	0.1253	+0.168%	$115K	$220K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1254	+0.239%	$4K	$1.1M	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1253	+0.190%	$310K	$5.2M	10x	as long as short
ApeX Omni OPUSDTshort	+0.0100%	1h	0.1255	+0.344%	$43K	$697K	50x
SoDEX OP-USD	+0.0100%	1h	0.1250	−0.056%	$206	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1251	+0.024%	$167K	$255K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1249	−0.097%	$100K	$508K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1250	−0.043%	$3K	$1K	3x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1254	+0.232%	$990K	$324K	75x	as long as short
Reya OPRUSDPERP	+0.0444%	1h	0.1249	−0.101%	$695	—	20x	as long as short