Funding arb · Price arb /

APE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0285%/8h= −31.2% APRpaid last 24h −0.077%

Price spread now: GMX against Binance+0.003%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance APEUSDT	0.1454	0.0100	pay 0.0100% / 8h	2h 45m	$4.1M	$6.1M	50x
Short	GMX APE/USD [APE-USDC]	0.1454	L −0.0178% / S +0.0185%	pay 0.0023% / 1h	45m 13s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$59.77
Price spread: +0.003% → 0.000%: $0.3
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$81.47
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 8 min ago; GMX: no order-book sample. Net counts fees only.

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 Binance live order book, 8 min ago	3.44 bp	14.3 bp −$14	72.6 bp −$726	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

APE on 20 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
GMX APE/USD [APE-USDC]short	L −0.0178% / S +0.0185%	1h	0.1454	+0.003%	$1K	—	100x
dYdX APE-USD	0.0000%	1h	0.1454	+0.001%	$9K	$5	5x	as long as short
Reya APERUSDPERP	0.0000%	1h	0.1235	−15.031%	—	—	—	as long as short
Deribit APE_USDC-PERPETUAL	0.0000%	1h	0.1454	+0.033%	$11K	$18K	25x	as long as short
Injective APE/USDC PERP	+0.0033%	1h	0.1378	−5.196%	$1K	$12K	5.5x	as long as short
BloFin APE-USDT	+0.0079%	8h	0.1454	+0.033%	$223K	$46K	75x	as long as short
Hyperliquid APE	+0.0100%	1h	0.1455	+0.122%	$1.3M	$369K	5x	as long as short
Aster APEUSDT	+0.0100%	8h	0.1454	+0.028%	$121K	$22K	10x	as long as short
Binance APEUSDTlong	+0.0100%	8h	0.1454	long leg	$4.1M	$6.1M	50x
Bybit APEUSDT	+0.0100%	8h	0.1455	+0.074%	$3.6M	$2.5M	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX APE-USDT-SWAP	+0.0100%	8h	0.1454	+0.033%	$1.2M	$1.3M	20x	as long as short
Gate APE_USDT	+0.0100%	8h	0.1454	+0.033%	$626K	$286K	50x	as long as short
MEXC APE_USDT	+0.0100%	8h	0.1453	−0.036%	$3.8M	$857K	50x	as long as short
KuCoin APEUSDTM	+0.0100%	8h	0.1453	−0.036%	$1.8M	$1.8M	50x	as long as short
Bitget APEUSDT	+0.0100%	8h	0.1454	+0.033%	$2.1M	$540K	25x	as long as short
BingX APE-USDT	+0.0100%	8h	0.1454	+0.033%	—	$13.4M	—	as long as short
Variational Omni APE	+0.0100%	8h	0.1454	+0.006%	$7K	$12K	—	as long as short
Extended APE-USD	+0.0104%	1h	0.1453	−0.003%	$4K	$220K	10x	as long as short
Kraken Futures PF_APEUSD	+0.0156%	1h	0.1454	+0.021%	$408K	$572K	20x	as long as short
Coinbase International APE-PERP-INTX	+0.0648%	1h	0.1458	+0.308%	$98K	$7K	25x	as long as short