Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.061%

Price spread now: ApeX Omni against BloFin+0.026%7-day average +0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$189as in the Funding arb table

Net, price: spread back to 7d avg − costs−$177as in the Price arb table

costs, in and out, $10k−$1701.704% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.185%−$19 on $10k

Price spread, last 3 days (all we have)+0.611%+$61 · spread now +0.026%, 7d avg +0.092%

Together, before fees+0.426%+$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and ApeX Omni is 0.066% cheaper against BloFin than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.092%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin S-USDT	0.03899	0.0340	pay 0.0170% / 4h	1h 04m	$265K	$125K	75x
Short	ApeX Omni SUSDT	0.03900	0.0100	get 0.0013% / 1h	4m 27s	$25K	$453K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now +0.026%Rate

Funding earned: −$50.4
Price spread: +0.026% → +0.092%: −$6.59
Slippage, 4 orders: −$148.35
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$227.34
Costs to cover: 1.704%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; ApeX Omni: live order book, 13 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 BloFin live order book, 7 min ago	1.28 bp	19.1 bp −$19	48.8 bp −$488	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 13 min ago	12.80 bp	69.4 bp −$69	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	−0.1904%	1h	0.03850	−1.257%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1600%	1h	0.03905	+0.158%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−1.872%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0957%	4h	0.03896	−0.078%	$606K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0198% / S +0.0191%	1h	0.03914	+0.392%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03909	+0.249%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03913	+0.367%	$603	—	150x	as long as short
Deribit S_USDC-PERPETUAL	+0.0006%	1h	0.03914	+0.385%	$66K	$10K	10x	as long as short
Orderly PERP_S_USDC	+0.0030%	4h	0.03911	+0.308%	$100K	$343K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+5.155%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03914	+0.385%	$164K	$223K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03911	+0.305%	$981K	$712K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03910	+0.289%	$43K	$212K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03909	+0.256%	$5.3M	$18.0M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03902	+0.077%	$5.6M	$5.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03910	+0.282%	$976K	$5.4M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03902	+0.077%	$318K	$266K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03908	+0.231%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03907	+0.205%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03910	+0.282%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03909	+0.256%	—	$6.7M	—	as long as short
ApeX Omni SUSDTshort	+0.0100%	1h	0.03900	+0.026%	$25K	$453K	50x
Extended S-USD	+0.0104%	1h	0.03907	+0.218%	$219K	$877K	10x	as long as short
BloFin S-USDTlong	+0.0340%	4h	0.03899	long leg	$265K	$125K	75x
Backpack S_USDC_PERP	+0.0446%	1h	0.03910	+0.282%	$114K	$300K	5x	as long as short