Funding you earn now, next payment 21:00 UTC−0.0180%/8h= −19.7% APRnext payment −$0.22 per $10,000 · paid last 24h −0.066%
Price spread now: Backpack against Coinbase International−0.026%52s7-day average −0.123% · you buy dearer than you sell
Net, funding: paid 7d − costs−$121as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$940.937% of the position
Funding, last 7 days−0.277%−$28 on $10k
+Price spread, last 3 days (all we have)−1.767%−$177 · spread now −0.026%, 7d avg −0.123%
=The price spread pays, funding is against you. Backpack is 0.098% dearer against Coinbase International than usual: you sell high and buy low (spread −0.026% now, against its 7-day average of −0.123%): +$10 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 43 hours. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International APT-PERP-INTX | 0.7834 | 0.0280 | pay 0.0035% / 1h | 18m 15s | $211K | $546K | 50x |
| Short | Backpack APT_USDC_PERP | 0.7832 | 0.0100 | get 0.0013% / 1h | 18m 15s | $199K | $362K | 20x |
Coinbase International APT-PERP-INTX
Backpack APT_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Coinbase International. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$37.8
- Price spread: −0.026% → −0.123%
- $9.78
- Slippage, 4 orders
- −$73.71
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$121.73
- Costs to cover
- 0.937%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 5 min ago; Backpack: live order book, 5 min ago.
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 Coinbase International live order book, 5 min ago | 12.13 bp | 37.9 bp −$38 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 5 min ago | 0.64 bp | 9.0 bp −$9 | 32.0 bp −$320 | doesn't fit | doesn't fit |
APT on 30 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange APTUSD | −0.0528% | 1h | 0.7816 | −0.230% | $2K | — | 5x | as long as short |
| Kraken Futures PF_APTUSD | −0.0362% | 1h | 0.7822 | −0.153% | $537K | $617K | 50x | as long as short |
| Variational Omni APT | −0.0093% | 8h | 0.7840 | +0.071% | $616K | $224K | — | as long as short |
| Orderly PERP_APT_USDC | −0.0016% | 8h | 0.7821 | −0.166% | $10K | $7K | 10x | as long as short |
| Injective APT/USDC PERP | −0.0016% | 1h | 0.7780 | −0.689% | $2K | $200K | 12x | as long as short |
| Deribit APT_USDC-PERPETUAL | −0.0006% | 1h | 0.7823 | −0.140% | $7K | $382K | 50x | as long as short |
| gTrade (Gains Network) APT/USD | L −0.0004% / S +0.0005% | 1h | 0.7822 | −0.150% | $22K | — | 150x | as long as short |
| Lighter APT | +0.0096% | 1h | 0.7811 | −0.294% | $428K | $350K | 10x | as long as short |
| Hyperliquid APT | +0.0100% | 1h | 0.7830 | −0.051% | $5.9M | $5.1M | 10x | as long as short |
| Aster APTUSDT | +0.0100% | 8h | 0.7822 | −0.155% | $305K | $454K | 20x | as long as short |
01 Exchange APTUSD
Kraken Futures PF_APTUSD
Variational Omni APT
Orderly PERP_APT_USDC
Injective APT/USDC PERP
Deribit APT_USDC-PERPETUAL
gTrade (Gains Network) APT/USD
Lighter APT
Hyperliquid APT
Aster APTUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance APTUSDT | +0.0100% | 8h | 0.7821 | −0.166% | $28.9M | $96.4M | 75x | as long as short |
| Bybit APTUSDT | +0.0100% | 8h | 0.7821 | −0.166% | $29.1M | $35.4M | 50x | as long as short |
| OKX APT-USDT-SWAP | +0.0100% | 8h | 0.7822 | −0.153% | $6.2M | $23.2M | 50x | as long as short |
| Gate APT_USDT | +0.0100% | 8h | 0.7819 | −0.191% | $2.7M | $4.6M | 75x | as long as short |
| MEXC APT_USDT | +0.0100% | 8h | 0.7819 | −0.191% | $27.8M | $14.5M | 200x | as long as short |
| KuCoin APTUSDTM | +0.0100% | 8h | 0.7819 | −0.191% | $5.5M | $12.1M | 50x | as long as short |
| Bitget APTUSDT | +0.0100% | 8h | 0.7817 | −0.217% | $9.0M | $12.2M | 75x | as long as short |
| BingX APT-USDT | +0.0100% | 8h | 0.7819 | −0.191% | — | $25.6M | — | as long as short |
| Backpack APT_USDC_PERPshort | +0.0100% | 1h | 0.7832 | −0.026% | $199K | $362K | 20x | |
| ApeX Omni APTUSDT | +0.0100% | 1h | 0.7840 | +0.077% | $65K | $571K | 50x | as long as short |
| SunX APT-USDT | +0.0100% | 8h | 0.7809 | −0.319% | $6K | $1.4M | 20x | as long as short |
| SoDEX APT-USD | +0.0100% | 1h | 0.7823 | −0.140% | $56 | $6K | 5x | as long as short |
| HTX APT-USDT | +0.0100% | 8h | 0.7843 | +0.115% | $264K | $137K | 50x | as long as short |
| Extended APT-USD | +0.0104% | 1h | 0.7820 | −0.183% | $84K | $479K | 25x | as long as short |
| Aevo APT-PERP | +0.0104% | 1h | 0.7825 | −0.115% | $24K | — | 3x | as long as short |
| GMX APT/USD [ETH-USDC] | L +0.0189% / S −0.0143% | 1h | 0.7824 | −0.126% | $17K | — | 100x | as long as short |
| BloFin APT-USDT | +0.0220% | 8h | 0.7838 | +0.051% | $1.5M | $777K | 75x | as long as short |
| Coinbase International APT-PERP-INTXlong | +0.0280% | 1h | 0.7834 | long leg | $211K | $546K | 50x | |
| Reya APTRUSDPERP | +0.0464% | 1h | 0.7822 | −0.152% | $3K | — | 20x | as long as short |
| dYdX APT-USD | +0.0744% | 1h | 0.7819 | −0.194% | $55K | $5K | 10x | as long as short |
Binance APTUSDT
Bybit APTUSDT
OKX APT-USDT-SWAP
Gate APT_USDT
MEXC APT_USDT
KuCoin APTUSDTM
Bitget APTUSDT
BingX APT-USDT
ApeX Omni APTUSDT
SunX APT-USDT
SoDEX APT-USD
HTX APT-USDT
Extended APT-USD
Aevo APT-PERP
GMX APT/USD [ETH-USDC]
BloFin APT-USDT
Reya APTRUSDPERP
dYdX APT-USD