Cross-Exchange Arbitrage

Cross-exchange arbitrage exploits funding rate differentials for the same asset across two venues. The scanner pairs every funding venue (33, CEXs and perp DEXs) across every asset class — crypto plus RWA perps (tokenized equities, commodities, FX, indices) — ranks by the gross annualized funding differential, and prices the spread from real order books where both legs expose one, falling back to reference prices and reporting unknown market data as null rather than zero. Pairs never cross asset classes.

GET/v1/arbitrage/cross-exchange

List cross-exchange opportunities

Returns cross-exchange funding differentials ranked by gross annualized APR. An asset needs current funding with a verified per-market settlement interval on at least two selected venues; the best pair per asset is returned. Rows are never dropped for missing market data — spread, open interest and volume degrade to null. Stale funding rates older than 6 hours are excluded.

Query parameters

Name
exchanges
Type
string
Description
Comma-separated list of venues to include. Accepts every funding-tracker venue (33), e.g. Binance, OKX, Bybit, Hyperliquid, WhiteBIT, Kraken, dYdX. Omit to include all venues.
Name
minOiUsd
Type
number
Description
Minimum open interest in USD on the smaller leg. Defaults to 0 (no floor). A leg with unknown OI fails a positive floor.
Name
minVolUsd
Type
number
Description
Minimum 24h perp volume in USD on the smaller leg. Defaults to 0 (no floor). A leg with unknown volume fails a positive floor.
Name
assetClass
Type
string
Description
Underlying filter. One of all (default), crypto, or rwa — the latter covering equity, commodity, FX and index perps. Pairing always stays within one asset class.

Request

GET

/v1/arbitrage/cross-exchange

curl -G https://www.sharpe.ai/api/v1/arbitrage/cross-exchange \
  -H "Authorization: Bearer sk_live_your_key_here" \
  -d exchanges=Binance,OKX,Bybit

Response

{
  "data": [
    {
      "symbol": "DOGE",
      "assetClass": "crypto",
      "longExchange": "Gate.io",
      "shortExchange": "Binance",
      "longRate": -0.00025,
      "shortRate": 0.00035,
      "netFundingRate": 0.0006,
      "apr": 0.657,
      "grossApr": 0.657,
      "netApr": 0.608358,
      "spreadRate": 0.001998,
      "spreadSource": "book",
      "longAsk": 0.1002,
      "shortBid": 0.1000,
      "executableDepthUsd": 25000,
      "holdingDays": 30,
      "executionStatus": "executable",
      "oiLong": 4200000,
      "oiShort": 9800000,
      "volumeLong24hUsd": 5200000,
      "volumeShort24hUsd": 88000000,
      "nextSettlement": "2026-03-28T08:00:00Z",
      "intervalHours": 8
    }
  ],
  "meta": {
    "request_id": "req_def456ghi789jklm",
    "timestamp": "2026-03-28T07:45:00Z",
    "elapsed_ms": 12
  }
}

Response fields

Each object in the data array represents the best long/short exchange pair for a single asset.

Name
symbol
Type
string
Description
The base asset ticker (e.g., BTC, ETH, TSLA).
Name
assetClass
Type
string
Description
Underlying category: crypto, equity, commodity, fx, or index. A pair's two legs always share it.
Name
longExchange
Type
string
Description
The exchange where you open the long position (receiving funding or paying the least).
Name
shortExchange
Type
string
Description
The exchange where you open the short position (receiving the most funding).
Name
longRate
Type
number
Description
Current funding rate on the long exchange as a decimal.
Name
shortRate
Type
number
Description
Current funding rate on the short exchange as a decimal.
Name
netFundingRate
Type
number
Description
Funding differential you collect per intervalHours period, as a decimal. Each leg's raw rate is normalized to hourly before subtracting, so mixed intervals (1h/4h/8h) compare correctly; the result is expressed at the pair's faster cadence.
Name
apr
Type
number
Description
Gross annualized funding differential as a decimal: |netFundingRate| × (8760 / intervalHours). Entry spread and fees are one-time costs surfaced separately, not baked in.
Name
grossApr
Type
number
Description
Deprecated alias of apr, retained for one release.
Name
netApr
Type
number | null
Description
Spread- and fee-adjusted APR over holdingDays. Present only when spreadSource is book; null on reference-priced or unpriced rows, where a net figure would overstate precision.
Name
spreadRate
Type
number | null
Description
Signed venue price gap. From (longAsk − shortBid) / midpoint when both books exist; from last/mark prices when only reference pricing exists; null when either leg has no price source.
Name
spreadSource
Type
string | null
Description
book (executable quotes), reference (last/mark prices), or null.
Name
longAsk
Type
number | null
Description
Best ask on the long leg when the venue exposes a book; otherwise null.
Name
shortBid
Type
number | null
Description
Best bid on the short leg when the venue exposes a book; otherwise null.
Name
executableDepthUsd
Type
number | null
Description
Smaller top-level quote notional when both providers expose correctly normalized size; otherwise null.
Name
holdingDays
Type
number
Description
Cost-amortization horizon for netApr. Currently 30.
Name
executionStatus
Type
string
Description
executable when the spread comes from real books, indicative otherwise.
Name
oiLong
Type
number | null
Description
Open interest in USD on the long exchange, from live tickers with a stored-snapshot fallback. null when the venue did not report — never 0.
Name
oiShort
Type
number | null
Description
Open interest in USD on the short exchange. null when unknown, never 0.
Name
volumeLong24hUsd
Type
number | null
Description
24h perp turnover in USD on the long exchange, or null when the venue does not report it.
Name
volumeShort24hUsd
Type
number | null
Description
24h perp turnover in USD on the short exchange, or null when unknown.
Name
nextSettlement
Type
string | null
Description
ISO 8601 timestamp of the next known funding settlement, or null when neither venue reports it. Unknown time is never replaced with the request time.
Name
intervalHours
Type
number
Description
Settlement cadence netFundingRate is expressed at — the faster of the two legs' funding intervals. longRate and shortRate remain in their exchanges' native per-interval terms.

Single opportunity

{
  "symbol": "BTC",
  "assetClass": "crypto",
  "longExchange": "KuCoin",
  "shortExchange": "Binance",
  "longRate": -0.00003,
  "shortRate": 0.00012,
  "netFundingRate": 0.00015,
  "apr": 0.16425,
  "grossApr": 0.16425,
  "netApr": 0.13505,
  "spreadRate": 0.0004,
  "spreadSource": "book",
  "longAsk": 104500.5,
  "shortBid": 104458.7,
  "executableDepthUsd": null,
  "holdingDays": 30,
  "executionStatus": "executable",
  "oiLong": 4200000,
  "oiShort": 9800000,
  "volumeLong24hUsd": 310000000,
  "volumeShort24hUsd": 9400000000,
  "nextSettlement": "2026-03-28T16:00:00Z",
  "intervalHours": 8
}

Read the error reference