Funding arb · Price arb /

APE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0278%/8h= +30.4% APRpaid last 24h +0.086%

Price spread now: Binance against GMX−0.056%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Binance

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

Funding pays, the price is against you. Binance is 0.056% cheaper against GMX than usual: you would sell low and buy high (spread −0.056% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 16 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX APE/USD [APE-USDC]	0.1484	L −0.0178% / S +0.0185%	get 0.0022% / 1h	15m 46s	$1K	—	100x
Short	Binance APEUSDT	0.1483	0.0100	get 0.0100% / 8h	5h 15m	$4.1M	$6.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now −0.056%Rate

Funding earned: $58.34
Price spread: −0.056% → 0.000%: −$5.59
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: $30.74
Costs to cover: 0.220%
Break-even: 3.3 days

Slippage unknown: GMX: no order-book sample; Binance: live order book, 8 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 8 min ago	3.37 bp	18.9 bp −$19	76.6 bp −$766	1097.9 bp −$109.8K	doesn't fit

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]long	L −0.0178% / S +0.0185%	1h	0.1484	long leg	$1K	—	100x
Kraken Futures PF_APEUSD	−0.0177%	1h	0.1485	+0.087%	$410K	$610K	20x	as long as short
Reya APERUSDPERP	0.0000%	1h	0.1235	−16.769%	—	—	—	as long as short
Injective APE/USDC PERP	+0.0033%	1h	0.1378	−7.132%	$1K	$12K	5.5x	as long as short
dYdX APE-USD	+0.0065%	1h	0.1485	+0.045%	$9K	$5	5x	as long as short
Hyperliquid APE	+0.0100%	1h	0.1485	+0.113%	$1.3M	$365K	5x	as long as short
Aster APEUSDT	+0.0100%	8h	0.1484	+0.021%	$123K	$21K	10x	as long as short
Binance APEUSDTshort	+0.0100%	8h	0.1483	−0.056%	$4.1M	$6.6M	50x
Bybit APEUSDT	+0.0100%	8h	0.1483	−0.029%	$3.7M	$3.0M	50x	as long as short
OKX APE-USDT-SWAP	+0.0100%	8h	0.1483	−0.042%	$1.3M	$1.4M	20x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate APE_USDT	+0.0100%	8h	0.1485	+0.079%	$639K	$309K	50x	as long as short
MEXC APE_USDT	+0.0100%	8h	0.1483	−0.056%	$4.5M	$877K	50x	as long as short
KuCoin APEUSDTM	+0.0100%	8h	0.1484	+0.011%	$1.8M	$2.8M	50x	as long as short
Bitget APEUSDT	+0.0100%	8h	0.1484	+0.011%	$2.1M	$549K	25x	as long as short
BingX APE-USDT	+0.0100%	8h	0.1485	+0.079%	—	$13.1M	—	as long as short
Variational Omni APE	+0.0100%	8h	0.1484	−0.001%	$8K	$12K	—	as long as short
Extended APE-USD	+0.0104%	1h	0.1483	−0.084%	$8K	$201K	10x	as long as short
BloFin APE-USDT	+0.0220%	8h	0.1487	+0.214%	$222K	$57K	75x	as long as short
Deribit APE_USDC-PERPETUAL	+0.0424%	1h	0.1485	+0.079%	$11K	$18K	25x	as long as short
Coinbase International APE-PERP-INTX	+0.0880%	1h	0.1491	+0.483%	$100K	$8K	25x	as long as short