Settings8H · net · $10k
LanguageThe language of the site
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
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Funding arb · Price arb / Crypto

APT

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Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
Coinbase InternationalAPT-PERP-INTX
0.8617+0.3848pay 0.0481% / 1h44m 12s$223K$54K50xLong Coinbase International
SHORT
PopdexAPTUSDT
0.8024+0.0096get 0.0012% / 1h44m 12s$66K$198K20xShort Popdex
Price gap−6.882%
Funding gap−0.3752% /8h

Both sides work against this direction now: funding costs $113 a day on $10k and the gap is 6.576% under its 7d average. Swap the legs.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding−$42−0.3752% /8h now · paid −0.417% over the last 5 days (all we have)
Price−$658spread −6.882% now, avg −0.306% → −6.576% if it goes back
Costs−$3993.987% of $10k · taker + slippage, in and out
Result−$1,098−10.98%no pointsWhat the last 7D really paid, hour by hour → backtest

The current funding rate is far below what this pair has been paying: over the last 5 days it paid −0.417% in total, about −0.0260%/8h on average.

Funding history

you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.

Price spread between the two exchanges

Popdex price against Coinbase Internationalnow
RANGE STATS · 7D
Now−6.882%
Average—
Range—
Wider than now—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

APT on 30 exchanges

lowest funding first

Before you open

1 ok · 4 to watch
  • Watch: Thin at this size160.9 / 34.2 bp
    At $10k entering Coinbase International costs 160.9 bp, fee and slippage, 4.7× Popdex’s.
  • Note: Margin at max leverage$200 + $500
    Coinbase International 50x, Popdex 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • OK: Same payment interval1h / 1h
    Both legs pay at the same time.
    Next 24h at the current rates, on $10k a leg: −$112.56Long Coinbase International: 24 payments, −$115.44; short Popdex: 24 payments, +$2.88.
  • Watch: Gap narrower than usual−6.882% vs −0.306%
    Less room for the price leg to pay you. If it goes back to average, the short loses.
  • Watch: Short leg is thinner$66K vs $223K OI
    Popdex sets your exit cost. Check its book before closing.
  • Note: No points program—
    Neither exchange runs points right now.
  • Watch: KYCCoinbase International Yes · Popdex No
    ID and a suitability check; perps are for eligible non-US countries, not for US or UK retail.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned−0.0260%/8h × 21 periods−$54.57
Price spread−6.882% → −0.306% (7d avg)−$657.61
Slippage, 4 orderslive order books−$382.28
Fee Coinbase International bp × 2 orders−$10.00
Fee Popdex bp × 2 orders−$6.40
Net · 7 days · $10k−$1,110.86
Costs to cover3.987%Break-evennever at this rate
Slippage: Coinbase International: live order book, 29 min ago; Popdex: live order book, 38 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGCoinbase International85.31160.9 bp−$161doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTPopdex2.4634.2 bp−$34286.9 bp−$2,869doesn’t fitdoesn’t fit

Closing costs about the same again.

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