Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: ApeX Omni against Bybit−2.312%79s7-day average +0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$188as 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−$1901.895% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)+3.265%+$327 · spread now −2.312%, 7d avg +0.121%

Together, before fees+3.281%+$328 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 2.433% cheaper against Bybit than usual: you would sell low and buy high, −$243 on $10k if it goes back to its 7-day average of +0.121%. The two prices were read 79 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	Bybit SUSDT	0.04412	0.0100	pay 0.0050% / 4h	3h 26m	$6.3M	$4.9M	50x
Short	ApeX Omni SUSDT	0.04310	0.0100	get 0.0013% / 1h	26m 16s	$25K	$512K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now −2.312%Rate

Funding earned: $0
Price spread: −2.312% → +0.121%: −$243.27
Slippage, 4 orders: −$168.51
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$432.78
Costs to cover: 1.895%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; ApeX Omni: live order book, 6 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 Bybit live order book, 2 min ago	2.29 bp	35.9 bp −$36	109.3 bp −$1,093	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 6 min ago	34.84 bp	58.7 bp −$59	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	−0.2864%	1h	0.04500	+1.995%	$27K	$3K	5x	as long as short
Kraken Futures PF_SUSD	−0.2569%	1h	0.04418	+0.131%	$37K	$22K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1248%	1h	0.04308	−2.357%	$53K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04382	−0.678%	$2K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04376	−0.809%	$4	—	15x	as long as short
Variational Omni S	−0.0096%	4h	0.04314	−2.226%	$668K	$7K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04361	−1.146%	$672	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−7.072%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0070%	4h	0.04415	+0.068%	$110K	$637K	10x	as long as short
Lighter S	+0.0096%	1h	0.04419	+0.159%	$189K	$100K	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	0.04416	+0.084%	$1.1M	$745K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04423	+0.250%	$48K	$175K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04423	+0.253%	$6.5M	$17.3M	75x	as long as short
Bybit SUSDTlong	+0.0100%	4h	0.04412	long leg	$6.3M	$4.9M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.04419	+0.159%	$1.2M	$5.1M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04414	+0.045%	$376K	$231K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04417	+0.113%	$4.6M	$2.4M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04416	+0.091%	$2.0M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04416	+0.091%	$1.3M	$2.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04416	+0.091%	—	$6.9M	—	as long as short
ApeX Omni SUSDTshort	+0.0100%	1h	0.04310	−2.312%	$25K	$512K	50x
Extended S-USD	+0.0104%	1h	0.04411	−0.018%	$244K	$1.3M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04412	0.000%	$314K	$119K	75x	as long as short
Backpack S_USDC_PERP	+0.0519%	1h	0.04420	+0.181%	$104K	$474K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.0655%	1h	0.04422	+0.227%	$74K	$11K	10x	as long as short