Funding arb · Price arb /

APE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.009%

Price spread now: Deribit against Bybit+0.027%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. Deribit is 0.027% dearer against Bybit than usual: you sell high and buy low (spread +0.027% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit APEUSDT	0.1470	0.0100	pay 0.0100% / 8h	7h 31m	$3.6M	$2.7M	50x
Short	Deribit APE_USDC-PERPETUAL	0.1470	0	get 0.0000% / 1h	31m 18s	$11K	$18K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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 BybitbpFee DeribitbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$21
Price spread: +0.027% → 0.000%: $2.72
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$36.28
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; Deribit: no order-book sample. 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 Bybit live order book, 1 min ago	2.38 bp	24.3 bp −$24	49.7 bp −$497	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Kraken Futures PF_APEUSD	−0.0211%	1h	0.1470	+0.053%	$409K	$599K	20x	as long as short
GMX APE/USD [APE-USDC]	L −0.0178% / S +0.0185%	1h	0.1470	+0.003%	$1K	—	100x	as long as short
Reya APERUSDPERP	0.0000%	1h	0.1235	−15.965%	—	—	—	as long as short
Deribit APE_USDC-PERPETUALshort	0.0000%	1h	0.1470	+0.027%	$11K	$18K	25x
Injective APE/USDC PERP	+0.0033%	1h	0.1378	−6.233%	$1K	$12K	5.5x	as long as short
dYdX APE-USD	+0.0039%	1h	0.1469	−0.022%	$9K	$5	5x	as long as short
Hyperliquid APE	+0.0100%	1h	0.1472	+0.150%	$1.3M	$368K	5x	as long as short
Aster APEUSDT	+0.0100%	8h	0.1469	−0.022%	$122K	$22K	10x	as long as short
Binance APEUSDT	+0.0100%	8h	0.1470	+0.018%	$4.1M	$6.3M	50x	as long as short
Bybit APEUSDTlong	+0.0100%	8h	0.1470	long leg	$3.6M	$2.7M	50x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX APE-USDT-SWAP	+0.0100%	8h	0.1471	+0.082%	$1.3M	$1.4M	20x	as long as short
Gate APE_USDT	+0.0100%	8h	0.1469	−0.034%	$627K	$299K	50x	as long as short
MEXC APE_USDT	+0.0100%	8h	0.1469	−0.041%	$4.3M	$949K	50x	as long as short
KuCoin APEUSDTM	+0.0100%	8h	0.1470	+0.027%	$1.8M	$2.3M	50x	as long as short
Bitget APEUSDT	+0.0100%	8h	0.1470	+0.027%	$2.1M	$548K	25x	as long as short
BingX APE-USDT	+0.0100%	8h	0.1470	+0.027%	—	$13.0M	—	as long as short
Variational Omni APE	+0.0100%	8h	0.1470	−0.005%	$7K	$12K	—	as long as short
Extended APE-USD	+0.0104%	1h	0.1470	+0.003%	$5K	$220K	10x	as long as short
BloFin APE-USDT	+0.0118%	8h	0.1470	+0.027%	$221K	$49K	75x	as long as short
Coinbase International APE-PERP-INTX	+0.0840%	1h	0.1475	+0.367%	$99K	$7K	25x	as long as short