Funding arb · Price arb /

APE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0326%/8h= +35.7% APRpaid last 24h −0.022%

Price spread now: dYdX against Bybit−0.027%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. dYdX is 0.027% cheaper against Bybit than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit APEUSDT	0.1462	0.0100	pay 0.0100% / 8h	1h 36m	$3.7M	$2.5M	50x
Short	dYdX APE-USD	0.1462	0.0426	get 0.0053% / 1h	36m 42s	$9K	$5	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bybit. 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 BybitbpFee dYdXbpOrdersPrice spread, now −0.027%Rate

Funding earned: $68.43
Price spread: −0.027% → 0.000%: −$2.7
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: $44.73
Costs to cover: 0.210%
Break-even: 2.4 days

Slippage unknown: Bybit: live order book, 6 min ago; dYdX: 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 Bybit live order book, 6 min ago	2.39 bp	22.5 bp −$23	46.7 bp −$467	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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
Kraken Futures PF_APEUSD	−0.0428%	1h	0.1462	−0.026%	$410K	$570K	20x	as long as short
GMX APE/USD [APE-USDC]	L −0.0178% / S +0.0185%	1h	0.1462	−0.010%	$1K	—	100x	as long as short
Reya APERUSDPERP	0.0000%	1h	0.1235	−15.548%	—	—	—	as long as short
Deribit APE_USDC-PERPETUAL	0.0000%	1h	0.1462	−0.021%	$11K	$18K	25x	as long as short
Injective APE/USDC PERP	+0.0033%	1h	0.1378	−5.765%	$1K	$12K	5.5x	as long as short
BloFin APE-USDT	+0.0087%	8h	0.1463	+0.048%	$221K	$48K	75x	as long as short
Hyperliquid APE	+0.0100%	1h	0.1464	+0.109%	$1.3M	$346K	5x	as long as short
Aster APEUSDT	+0.0100%	8h	0.1462	−0.008%	$122K	$22K	10x	as long as short
Binance APEUSDT	+0.0100%	8h	0.1462	+0.010%	$4.1M	$6.1M	50x	as long as short
Bybit APEUSDTlong	+0.0100%	8h	0.1462	long leg	$3.7M	$2.5M	50x

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	0.1464	+0.082%	$1.3M	$1.3M	20x	as long as short
Gate APE_USDT	+0.0100%	8h	0.1462	−0.021%	$631K	$290K	50x	as long as short
MEXC APE_USDT	+0.0100%	8h	0.1462	−0.021%	$3.8M	$849K	50x	as long as short
KuCoin APEUSDTM	+0.0100%	8h	0.1461	−0.089%	$1.8M	$1.8M	50x	as long as short
Bitget APEUSDT	+0.0100%	8h	0.1463	+0.048%	$2.1M	$527K	25x	as long as short
BingX APE-USDT	+0.0100%	8h	0.1462	−0.021%	—	$13.4M	—	as long as short
Variational Omni APE	+0.0100%	8h	0.1462	−0.032%	$7K	$12K	—	as long as short
Extended APE-USD	+0.0104%	1h	0.1462	−0.026%	$4K	$220K	10x	as long as short
dYdX APE-USDshort	+0.0426%	1h	0.1462	−0.027%	$9K	$5	5x
Coinbase International APE-PERP-INTX	+0.0688%	1h	0.1466	+0.253%	$99K	$7K	25x	as long as short