Funding you earn now, next payment 04:00 UTC−0.0215%/8h= −23.5% APRnext payment −$0.27 per $10,000 · paid last 24h +0.096%
Price spread now: Backpack against Kraken Futures+0.079%51s7-day average −0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$57as 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−$710.713% of the position
Funding, last 7 days+0.139%+$14 on $10k
+Price spread, last 4 days (all we have)−1.582%−$158 · spread now +0.079%, 7d avg −0.009%
=The price spread pays, funding is against you. Backpack is 0.088% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.079% now, against its 7-day average of −0.009%): +$9 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 33 hours. Mind the row above: over the last 7 days funding on this pair paid +0.139%, so the current rate has only just turned against you. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.139% in total (about 7.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_APTUSD | 0.7702 | 0.0315 | pay 0.0039% / 1h | 31m 16s | $533K | $639K | 50x |
| Short | Backpack APT_USDC_PERP | 0.7708 | 0.0100 | get 0.0013% / 1h | 31m 16s | $190K | $381K | 20x |
Kraken Futures PF_APTUSD
Backpack APT_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Kraken Futures. 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
- −$45.08
- Price spread: +0.079% → −0.009%
- $8.84
- Slippage, 4 orders
- −$51.26
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$107.5
- Costs to cover
- 0.713%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 27 min ago; Backpack: live order book, 27 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 Kraken Futures live order book, 27 min ago | 10.46 bp | 32.0 bp −$32 | 100.3 bp −$1,003 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 27 min ago | 1.96 bp | 8.9 bp −$9 | 32.4 bp −$324 | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) APT/USD | L −0.0004% / S +0.0005% | 1h | 0.7709 | +0.093% | $21K | — | 150x | as long as short |
| Orderly PERP_APT_USDC | +0.0017% | 8h | 0.7702 | +0.001% | $10K | $7K | 10x | as long as short |
| Injective APT/USDC PERP | +0.0033% | 1h | 0.7780 | +1.014% | $2K | $240K | 12x | as long as short |
| Variational Omni APT | +0.0042% | 8h | 0.7620 | −1.061% | $509K | $415K | — | as long as short |
| Lighter APT | +0.0096% | 1h | 0.7704 | +0.027% | $411K | $421K | 10x | as long as short |
| Hyperliquid APT | +0.0100% | 1h | 0.7716 | +0.183% | $5.3M | $6.2M | 10x | as long as short |
| Aster APTUSDT | +0.0100% | 8h | 0.7716 | +0.177% | $97K | $961K | 20x | as long as short |
| Binance APTUSDT | +0.0100% | 8h | 0.7704 | +0.029% | $28.2M | $106.5M | 75x | as long as short |
| Bybit APTUSDT | +0.0100% | 8h | 0.7708 | +0.079% | $27.6M | $39.0M | 50x | as long as short |
| OKX APT-USDT-SWAP | +0.0100% | 8h | 0.7712 | +0.131% | $5.7M | $24.9M | 50x | as long as short |
gTrade (Gains Network) APT/USD
Orderly PERP_APT_USDC
Injective APT/USDC PERP
Variational Omni APT
Lighter APT
Hyperliquid APT
Aster APTUSDT
Binance APTUSDT
Bybit APTUSDT
OKX APT-USDT-SWAPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate APT_USDT | +0.0100% | 8h | 0.7712 | +0.131% | $2.6M | $4.9M | 75x | as long as short |
| MEXC APT_USDT | +0.0100% | 8h | 0.7709 | +0.092% | $28.9M | $15.2M | 200x | as long as short |
| KuCoin APTUSDTM | +0.0100% | 8h | 0.7708 | +0.079% | $5.1M | $12.3M | 50x | as long as short |
| Bitget APTUSDT | +0.0100% | 8h | 0.7704 | +0.027% | $8.6M | $12.8M | 75x | as long as short |
| BingX APT-USDC | +0.0100% | 8h | 0.7710 | +0.105% | — | $6.5M | — | as long as short |
| Backpack APT_USDC_PERPshort | +0.0100% | 1h | 0.7708 | +0.079% | $190K | $381K | 20x | |
| ApeX Omni APTUSDT | +0.0100% | 1h | 0.7670 | −0.414% | $62K | $581K | 50x | as long as short |
| SunX APT-USDT | +0.0100% | 8h | 0.7701 | −0.012% | $6K | $1.5M | 20x | as long as short |
| SoDEX APT-USD | +0.0100% | 1h | 0.7707 | +0.066% | $62 | $6K | 5x | as long as short |
| HTX APT-USDT | +0.0100% | 8h | 0.7708 | +0.079% | $261K | $117K | 50x | as long as short |
| Extended APT-USD | +0.0104% | 1h | 0.7702 | −0.002% | $81K | $486K | 25x | as long as short |
| Aevo APT-PERP | +0.0104% | 1h | 0.7704 | +0.034% | $28K | $5K | 3x | as long as short |
| GMX APT/USD [ETH-USDC] | L +0.0189% / S −0.0143% | 1h | 0.7706 | +0.049% | $17K | — | 100x | as long as short |
| BloFin APT-USDT | +0.0220% | 8h | 0.7706 | +0.053% | $1.4M | $950K | 75x | as long as short |
| Deribit APT_USDC-PERPETUAL | +0.0269% | 1h | 0.7709 | +0.092% | $17K | $443K | 50x | as long as short |
| Kraken Futures PF_APTUSDlong | +0.0315% | 1h | 0.7702 | long leg | $533K | $639K | 50x | |
| Coinbase International APT-PERP-INTX | +0.0328% | 1h | 0.7720 | +0.235% | $222K | $458K | 50x | as long as short |
| Reya APTRUSDPERP | +0.0485% | 1h | 0.7709 | +0.097% | $3K | — | 20x | as long as short |
| dYdX APT-USD | +0.0638% | 1h | 0.7711 | +0.112% | $54K | $6K | 10x | as long as short |
| 01 Exchange APTUSD | +0.5448% | 1h | 0.7770 | +0.884% | $2K | — | 5x | as long as short |
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
Deribit APT_USDC-PERPETUAL
Coinbase International APT-PERP-INTX
Reya APTRUSDPERP
dYdX APT-USD
01 Exchange APTUSD