Funding Arbitrage

{
  "as_of": "2026-10-14T23:00:00Z",
  "coins_scanned": 188,
  "colo": null,
  "count": 20,
  "disclaimer": "Data only, not investment advice, not a benchmark; not affiliated with any exchange",
  "fees": {
    "fills": 4,
    "holding_days": 30,
    "taker_fee_pct": 0.05
  },
  "filters": {
    "min_apr": 10,
    "min_volume_usd": 0
  },
  "opportunities": [
    {
      "breakeven_days": 0.262059,
      "coin": "MOG",
      "fee_cost_pct": 0.2,
      "gross_apr_pct": 278.564,
      "long": {
        "apr_pct": -112.094,
        "interval_h": 1,
        "next_funding_time": "2026-10-15T00:00:00Z",
        "oi_usd": 18305.125,
        "rate": -0.000127961375,
        "symbol": "PF_MOGUSD",
        "venue": "kraken",
        "volume_24h_usd": 553.84639
      },
      "net_apr_pct": 276.13,
      "short": {
        "apr_pct": 166.47,
        "interval_h": 8,
        "next_funding_time": null,
        "oi_usd": 55856.904,
        "rate": 0.00152027,
        "symbol": "1000MOG_USDC-PERPETUAL",
        "venue": "deribit",
        "volume_24h_usd": 0
      },
      "venues_compared": 4
    },
    {
      "breakeven_days": 0.935554,
      "coin": "ETC",
      "fee_cost_pct": 0.2,
      "gross_apr_pct": 78.0286,
      "long": {
        "apr_pct": -67.0786,
        "interval_h": 8,
        "next_funding_time": "2026-10-15T00:00:00Z",
        "oi_usd": 295142.69,
        "rate": -0.00061259,
        "symbol": "tETCF0:USTF0",
        "venue": "bitfinex",
        "volume_24h_usd": null
      },
      "net_apr_pct": 75.5953,
      "short": {
        "apr_pct": 10.95,
        "interval_h": 1,
        "next_funding_time": "2026-10-15T00:00:00Z",
        "oi_usd": 3381121.8,
        "rate": 0.0000125,
        "symbol": "ETC",
        "venue": "hyperliquid",
        "volume_24h_usd": 405454.24
      },
      "venues_compared": 2
    },
    {
      "breakeven_days": 1.00312,
      "coin": "ZEC",
      "fee_cost_pct": 0.2,
      "gross_apr_pct": 72.7726,
      "long": {
        "apr_pct": -61.8226,
        "interval_h": 8,
        "next_funding_time": "2026-10-15T00:00:00Z",
        "oi_usd": 501923.5,
        "rate": -0.00056459,
        "symbol": "tZECF0:USTF0",
        "venue": "bitfinex",
        "volume_24h_usd": null
      },
      "net_apr_pct": 70.3393,
      "short": {
        "apr_pct": 10.95,
        "interval_h": 1,
        "next_funding_time": "2026-10-15T00:00:00Z",
        "oi_usd": 550252790,
        "rate": 0.0000125,
        "symbol": "ZEC",
        "venue": "hyperliquid",
        "volume_24h_usd": 314511400
      },
      "venues_compared": 2
    }
  ],
  "request_id": "01KEXAMPLE0000000000000000",
  "see_also": {
    "endpoint": "https://derivs.duoleads.com/v1/funding-history",
    "params": [
      "coin",
      "venue"
    ],
    "reason": "Check how stable a spread is: past funding prints of one venue, up to 30 days."
  },
  "units": {
    "apr_pct": "simple annualised funding in percent",
    "breakeven_days": "days of the gross spread that pay the round-trip fees",
    "fee_cost_pct": "round-trip fees in percent of one leg's notional (4 fills x fee_pct)",
    "gross_apr_pct": "short-leg APR minus long-leg APR",
    "net_apr_pct": "gross_apr_pct - fee_cost_pct * 365 / holding_days",
    "oi_usd": "USD",
    "volume_24h_usd": "USD"
  },
  "venues": [
    {
      "as_of": "2026-10-14T23:00:00Z",
      "coins": 23,
      "stale": false,
      "venue": "bybit"
    },
    {
      "as_of": "2026-10-14T23:00:00Z",
      "coins": 178,
      "stale": false,
      "venue": "hyperliquid"
    },
    {
      "as_of": "2026-10-14T23:00:00Z",
      "coins": 11,
      "stale": false,
      "venue": "dydx"
    }
  ],
  "venues_missing": []
}

# bash or zsh: see the payment challenge. Nothing is charged.
curl -sS -g -i 'https://derivs.duoleads.com/v1/funding-arbitrage?min_apr=10'

# x402 v2 sends the challenge base64-encoded in the PAYMENT-REQUIRED header (v1 sends it in the body).
# To read the header:
curl -sS -g -o /dev/null -D - 'https://derivs.duoleads.com/v1/funding-arbitrage?min_apr=10' \
  | grep -i '^payment-required:' | cut -d' ' -f2 | tr -d '\r' | base64 --decode

// npm i @x402/fetch @x402/evm viem
import { wrapFetchWithPayment, x402Client } from "@x402/fetch";
import { registerExactEvmScheme } from "@x402/evm/exact/client";
import { privateKeyToAccount } from "viem/accounts";

// Pays at most $0.005 per call.
const client = new x402Client().setSpendControls({ maxAmountPerPayment: "$0.005" });
registerExactEvmScheme(client, { signer: privateKeyToAccount(process.env.EVM_PRIVATE_KEY) });
const pay = wrapFetchWithPayment(fetch, client);

// Not sure it's safe to pay? ToolVet checks it first for $0.005. Pay for that from a separate
// client: this one is capped at $0.005 per payment. GET https://toolvet.app/api/v1/check?url=https%3A%2F%2Fderivs.duoleads.com%2Fv1%2Ffunding-arbitrage
const res = await pay("https://derivs.duoleads.com/v1/funding-arbitrage?min_apr=10");
console.log(res.status, await res.text());

# pip install "x402[requests,evm]"
import os
from eth_account import Account
from x402 import x402ClientSync
from x402.http.clients import x402_requests
from x402.mechanisms.evm import EthAccountSigner
from x402.mechanisms.evm.exact.register import register_exact_evm_client

# Pays at most $0.005 per call.
client = x402ClientSync().set_spend_controls({"max_amount_per_payment": "$0.005"})
register_exact_evm_client(client, EthAccountSigner(Account.from_key(os.environ["EVM_PRIVATE_KEY"])))

with x402_requests(client) as session:
    res = session.get("https://derivs.duoleads.com/v1/funding-arbitrage?min_apr=10")
    print(res.status_code, res.text)