S

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1484%/8h= +162.5% APRnext payment +$1.86 per $10,000 · paid last 24h +0.031%

Price spread now: Backpack against ApeX Omni+0.488%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$237as in the Funding arb table

Net, price: spread back to 7d avg − costs−$142as in the Price arb table

costs, in and out, $10k−$1881.877% of the position

Long on ApeX Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.494%−$49 on $10k

Price spread, last 4 days (all we have)−1.255%−$125 · spread now +0.488%, 7d avg +0.029%

Together, before fees−1.749%−$175 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$45 a day on $10k at the current rate, and Backpack is 0.459% dearer against ApeX Omni than usual: you sell high and buy low: +$46 more if the spread goes back to its 7-day average of +0.029%. Mind the row above: over the last 7 days funding on this pair cost −0.494%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.494% in total (about -25.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.86 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SUSDT	0.04100	0.0100	pay 0.0013% / 1h	35m 18s	$25K	$447K	50x
Short	Backpack S_USDC_PERP	0.04120	0.1584	get 0.0198% / 1h	35m 18s	$121K	$363K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against ApeX Omni. 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 ApeX OmnibpFee BackpackbpOrdersPrice spread, now +0.488%Rate

Funding earned: $311.66
Price spread: +0.488% → +0.029%: $45.86
Slippage, 4 orders: −$167.74
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $169.78
Costs to cover: 1.877%
Break-even: 3.2 days

Slippage from ApeX Omni: live order book, 27 min ago; Backpack: live order book, 28 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 ApeX Omni live order book, 27 min ago	36.90 bp	61.8 bp −$62	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 28 min ago	12.24 bp	45.6 bp −$46	doesn't fit	doesn't fit	doesn't fit

S on 25 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
01 Exchange SUSD	−1.1112%	1h	0.03950	−3.659%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1673%	1h	0.04107	+0.164%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−1.902%	$48K	$16K	25x	as long as short
Variational Omni S	−0.0253%	4h	0.04099	−0.032%	$637K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04113	+0.310%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04111	+0.275%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04112	+0.302%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	0.000%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0067%	4h	0.04111	+0.268%	$102K	$332K	10x	as long as short
Lighter S	+0.0096%	1h	0.04116	+0.390%	$172K	$156K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04113	+0.324%	$1.0M	$554K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04115	+0.358%	$45K	$133K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04111	+0.268%	$5.7M	$13.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04106	+0.146%	$5.9M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04112	+0.293%	$1.1M	$4.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04109	+0.220%	$338K	$200K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04110	+0.244%	$4.0M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04108	+0.195%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04111	+0.268%	$1.2M	$2.1M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04109	+0.220%	—	$6.8M	—	as long as short
ApeX Omni SUSDTlong	+0.0100%	1h	0.04100	long leg	$25K	$447K	50x
Extended S-USD	+0.0104%	1h	0.04110	+0.241%	$231K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04096	−0.098%	$280K	$110K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0966%	1h	0.04116	+0.390%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERPshort	+0.1584%	1h	0.04120	+0.488%	$121K	$363K	5x