Spot-Perp Arbitrage

Spot-perp arbitrage captures the funding rate paid between long and short perpetual futures holders by simultaneously holding an offsetting spot position. This endpoint scans 10 exchanges, deduplicates symbols, verifies the required spot or margin leg, computes annualized returns, and returns opportunities sorted by fee-adjusted net APR.

GET/v1/arbitrage/spot-perp

List spot-perp opportunities

Returns an array of spot-perp arbitrage opportunities ranked by fee-adjusted net APR. Each opportunity includes the current funding rate, 7-day cumulative rate, gross APR, diagnostic basis, portfolio direction, and next settlement time. Stale rates older than 6 hours are excluded.

Query parameters

Name
exchange
Type
string
Description
Filter by exchange. One of all, Binance, OKX, Bybit, Bitget, Gate.io, KuCoin, MEXC, BingX, HTX, CoinEx. Defaults to all.
Name
direction
Type
string
Description
Filter by portfolio direction. One of all, long, short. Defaults to all. A short direction means buy spot and short the perp (when funding rate is positive); long means sell spot and long the perp (when funding rate is negative).

Request

GET

/v1/arbitrage/spot-perp

curl -G https://www.sharpe.ai/api/v1/arbitrage/spot-perp \
  -H "Authorization: Bearer sk_live_your_key_here" \
  -d exchange=all \
  -d direction=all

Response

{
  "data": [
    {
      "symbol": "DOGE",
      "exchange": "Binance",
      "fundingRate": 0.000320,
      "cumRate7d": 0.006720,
      "apr": 0.3504,
      "basisRate": 0.0006,
      "netApr": 0.3260667,
      "intervalHours": 8,
      "direction": "short",
      "portfolio": {
        "spotSide": "buy",
        "perpSide": "short"
      },
      "nextFundingTime": "2026-03-28T08:00:00Z"
    },
    {
      "symbol": "ETH",
      "exchange": "OKX",
      "fundingRate": 0.000150,
      "cumRate7d": 0.003150,
      "apr": 0.16425,
      "basisRate": null,
      "netApr": 0.1399167,
      "intervalHours": 8,
      "direction": "short",
      "portfolio": {
        "spotSide": "buy",
        "perpSide": "short"
      },
      "nextFundingTime": "2026-03-28T08:00:00Z"
    }
  ],
  "meta": {
    "request_id": "req_abc123def456ghij",
    "timestamp": "2026-03-28T07:45:00Z",
    "elapsed_ms": 12
  }
}

Response fields

Each object in the data array represents a single arbitrage opportunity on one exchange.

Name
symbol
Type
string
Description
The base asset ticker (e.g., BTC, ETH, DOGE).
Name
exchange
Type
string
Description
Exchange identifier (e.g. Binance, OKX, Bybit, Bitget, Gate.io, KuCoin, MEXC, BingX, HTX, or CoinEx).
Name
fundingRate
Type
number
Description
Current funding rate as a decimal (e.g., 0.0001 = 0.01%). This is the per-interval rate.
Name
cumRate7d
Type
number | null
Description
Cumulative funding rate over the last 7 days. null if no accumulated data is available.
Name
apr
Type
number
Description
Gross annualized funding return as a decimal (e.g., 0.3 = 30%). Computed by extrapolating the current rate across all intervals in a year. Gross of trading fees. See netApr.
Name
basisRate
Type
number | null
Description
Spot-perp basis as a decimal: (perpPrice − spotPrice) / spotPrice. Best-effort from live prices; null when prices were unavailable (never a silent 0).
Name
netApr
Type
number | null
Description
apr net of four estimated execution fees (open and close both spot and perp) annualized over the 30-day default hold, as a decimal. null only when apr is not finite.
Name
intervalHours
Type
number
Description
Hours between funding settlements. Typically 8, but some exchanges use 1 or 4.
Name
direction
Type
string
Description
Portfolio direction: short (buy spot, short perp) when the funding rate is >= 0, or long (sell spot, long perp) when the funding rate is < 0.
Name
portfolio
Type
object
Description
Breakdown of the hedge portfolio. Contains spotSide (buy or sell) and perpSide (long or short).
Name
nextFundingTime
Type
string | null
Description
ISO 8601 timestamp of the next scheduled funding settlement, or null if unavailable.

Single opportunity

{
  "symbol": "BTC",
  "exchange": "Bybit",
  "fundingRate": 0.000100,
  "cumRate7d": 0.002100,
  "apr": 0.1095,
  "basisRate": 0.0004,
  "netApr": 0.0851667,
  "intervalHours": 8,
  "direction": "short",
  "portfolio": {
    "spotSide": "buy",
    "perpSide": "short"
  },
  "nextFundingTime": "2026-03-28T16:00:00Z"
}

Read the error reference