Funding you earn now, next payment 22:00 UTC+0.0116%/8h= +12.7% APRnext payment +$0.14 per $10,000 · paid last 24h +0.345%
Price spread now: Backpack against Injective+0.848%72s7-day average +0.289% · you sell dearer than you buy
Net, funding: paid 7d − costs−$77as 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−$1191.189% of the position
Funding, last 7 days+0.416%+$42 on $10k
+Price spread, last 3 days (all we have)−2.089%−$209 · spread now +0.848%, 7d avg +0.289%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Backpack is 0.560% dearer against Injective than usual: you sell high and buy low: +$56 more if the spread goes back to its 7-day average of +0.289%. The two prices were read 72 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 | Injective APT/USDC PERP | 0.7780 | −0.0016 | get 0.0002% / 1h | 19m 40s | $2K | $200K | 12x |
| Short | Backpack APT_USDC_PERP | 0.7846 | 0.0100 | get 0.0013% / 1h | 19m 40s | $199K | $362K | 20x |
Injective APT/USDC PERP
Backpack APT_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. 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
- $24.28
- Price spread: +0.848% → +0.289%
- $55.97
- Slippage, 4 orders
- −$108.88
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$38.65
- Costs to cover
- 1.189%
- Break-even
- 18.1 days
Slippage from Injective: live order book, 4 min ago; Backpack: live order book, 4 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 Injective live order book, 4 min ago | 51.09 bp | 51.1 bp −$51 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 4 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 | −0.0536% | 1h | 0.7831 | +0.656% | $2K | — | 5x | as long as short |
| Kraken Futures PF_APTUSD | −0.0361% | 1h | 0.7837 | +0.735% | $538K | $617K | 50x | as long as short |
| Variational Omni APT | −0.0093% | 8h | 0.7840 | +0.766% | $616K | $224K | — | as long as short |
| Orderly PERP_APT_USDC | −0.0016% | 8h | 0.7839 | +0.758% | $10K | $7K | 10x | as long as short |
| Injective APT/USDC PERPlong | −0.0016% | 1h | 0.7780 | long leg | $2K | $200K | 12x | |
| Deribit APT_USDC-PERPETUAL | −0.0005% | 1h | 0.7841 | +0.784% | $7K | $382K | 50x | as long as short |
| gTrade (Gains Network) APT/USD | L −0.0004% / S +0.0005% | 1h | 0.7841 | +0.784% | $22K | — | 150x | as long as short |
| Lighter APT | +0.0096% | 1h | 0.7833 | +0.681% | $429K | $350K | 10x | as long as short |
| Hyperliquid APT | +0.0100% | 1h | 0.7841 | +0.784% | $5.9M | $5.1M | 10x | as long as short |
| Aster APTUSDT | +0.0100% | 8h | 0.7841 | +0.788% | $306K | $454K | 20x | as long as short |
01 Exchange APTUSD
Kraken Futures PF_APTUSD
Variational Omni APT
Orderly PERP_APT_USDC
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 | 0.7836 | +0.726% | $28.9M | $96.3M | 75x | as long as short |
| Bybit APTUSDT | +0.0100% | 8h | 0.7832 | +0.668% | $29.1M | $35.4M | 50x | as long as short |
| OKX APT-USDT-SWAP | +0.0100% | 8h | 0.7836 | +0.720% | $6.2M | $23.3M | 50x | as long as short |
| Gate APT_USDT | +0.0100% | 8h | 0.7833 | +0.681% | $2.7M | $4.6M | 75x | as long as short |
| MEXC APT_USDT | +0.0100% | 8h | 0.7834 | +0.694% | $27.9M | $14.5M | 200x | as long as short |
| KuCoin APTUSDTM | +0.0100% | 8h | 0.7834 | +0.694% | $5.5M | $12.1M | 50x | as long as short |
| Bitget APTUSDT | +0.0100% | 8h | 0.7834 | +0.694% | $9.0M | $12.2M | 75x | as long as short |
| BingX APT-USDC | +0.0100% | 8h | 0.7835 | +0.707% | — | $6.5M | — | as long as short |
| Backpack APT_USDC_PERPshort | +0.0100% | 1h | 0.7846 | +0.848% | $199K | $362K | 20x | |
| ApeX Omni APTUSDT | +0.0100% | 1h | 0.7830 | +0.643% | $65K | $572K | 50x | as long as short |
| SunX APT-USDT | +0.0100% | 8h | 0.7826 | +0.591% | $6K | $1.4M | 20x | as long as short |
| SoDEX APT-USD | +0.0100% | 1h | 0.7840 | +0.771% | $56 | $6K | 5x | as long as short |
| HTX APT-USDT | +0.0100% | 8h | 0.7835 | +0.707% | $264K | $137K | 50x | as long as short |
| Extended APT-USD | +0.0104% | 1h | 0.7832 | +0.666% | $84K | $479K | 25x | as long as short |
| Aevo APT-PERP | +0.0104% | 1h | 0.7840 | +0.771% | $24K | — | 3x | as long as short |
| GMX APT/USD [ETH-USDC] | L +0.0190% / S −0.0143% | 1h | 0.7842 | +0.802% | $17K | — | 100x | as long as short |
| BloFin APT-USDT | +0.0220% | 8h | 0.7849 | +0.887% | $1.5M | $778K | 75x | as long as short |
| Coinbase International APT-PERP-INTX | +0.0280% | 1h | 0.7850 | +0.900% | $211K | $547K | 50x | as long as short |
| Reya APTRUSDPERP | +0.0464% | 1h | 0.7836 | +0.716% | $3K | — | 20x | as long as short |
| dYdX APT-USD | +0.0749% | 1h | 0.7844 | +0.817% | $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-USDC
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
Coinbase International APT-PERP-INTX
Reya APTRUSDPERP
dYdX APT-USD