Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.036%

Price spread now: ApeX Omni against OKX+0.372%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$2002.003% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.215%+$21 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now +0.372%, 7d avg +0.100%

Together, before fees+0.318%+$32 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 0.272% dearer against OKX than usual: you sell high and buy low, +$27 on $10k if it goes back to its 7-day average of +0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX S-USDT-SWAP	0.04035	0.0100	pay 0.0050% / 4h	1h 49m	$1.0M	$3.8M	20x
Short	ApeX Omni SUSDT	0.04050	0.0100	get 0.0013% / 1h	49m 16s	$24K	$489K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now +0.372%Rate

Funding earned: $0
Price spread: +0.372% → +0.100%: $27.16
Slippage, 4 orders: −$180.32
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$173.16
Costs to cover: 2.003%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; ApeX Omni: live order book, 58 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 OKX live order book, 3 min ago	4.95 bp	36.7 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 58 min ago	25.25 bp	79.5 bp −$80	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	−0.8472%	1h	0.03940	−2.354%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2390%	1h	0.04034	−0.027%	$35K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1120%	1h	0.03961	−1.834%	$48K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04040	+0.116%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04039	+0.102%	$4	—	15x	as long as short
Variational Omni S	−0.0007%	4h	0.04040	+0.132%	$627K	$25K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04041	+0.150%	$623	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.611%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0085%	4h	0.04039	+0.099%	$100K	$571K	10x	as long as short
Lighter S	+0.0096%	1h	0.04041	+0.149%	$173K	$139K	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	0.04042	+0.164%	$1.0M	$596K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04037	+0.050%	$48K	$110K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04035	+0.011%	$5.7M	$13.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04030	−0.124%	$5.8M	$4.2M	50x	as long as short
OKX S-USDT-SWAPlong	+0.0100%	4h	0.04035	long leg	$1.0M	$3.8M	20x
Gate S_USDT	+0.0100%	4h	0.04037	+0.050%	$329K	$179K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04036	+0.025%	$4.0M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04034	−0.025%	$1.8M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04037	+0.050%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04036	+0.025%	—	$6.8M	—	as long as short
ApeX Omni SUSDTshort	+0.0100%	1h	0.04050	+0.372%	$24K	$489K	50x
Extended S-USD	+0.0104%	1h	0.04034	−0.027%	$227K	$592K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04044	+0.223%	$283K	$117K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0741%	1h	0.04039	+0.099%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1665%	1h	0.04050	+0.372%	$118K	$426K	5x	as long as short