Funding arb · Price arb /

APE

all APE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0278%/8h= +30.4% APRpaid last 24h +0.084%

Price spread now: Bybit against GMX−0.034%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Bybit is 0.034% cheaper against GMX than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 10 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX APE/USD [APE-USDC]	0.1463	L −0.0178% / S +0.0185%	get 0.0022% / 1h	15m 49s	$1K	—	100x
Short	Bybit APEUSDT	0.1463	0.0100	get 0.0100% / 8h	1h 15m	$3.7M	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GMX. 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 GMXbpFee BybitbpOrdersPrice spread, now −0.034%Rate

Funding earned: $58.34
Price spread: −0.034% → 0.000%: −$3.42
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $31.92
Costs to cover: 0.230%
Break-even: 3.2 days

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 2 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	0.69 bp	22.2 bp −$22	50.4 bp −$504	doesn't fit	doesn't fit

GMX: 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	−0.0427%	1h	0.1463	+0.018%	$406K	$574K	20x	as long as short
GMX APE/USD [APE-USDC]long	L −0.0178% / S +0.0185%	1h	0.1463	long leg	$1K	—	100x
Reya APERUSDPERP	0.0000%	1h	0.1235	−15.597%	—	—	—	as long as short
Injective APE/USDC PERP	+0.0033%	1h	0.1378	−5.823%	$1K	$12K	5.5x	as long as short
BloFin APE-USDT	+0.0098%	8h	0.1461	−0.150%	$221K	$48K	75x	as long as short
Hyperliquid APE	+0.0100%	1h	0.1466	+0.164%	$1.3M	$366K	5x	as long as short
Aster APEUSDT	+0.0100%	8h	0.1463	−0.020%	$122K	$22K	10x	as long as short
Binance APEUSDT	+0.0100%	8h	0.1462	−0.054%	$4.1M	$6.2M	50x	as long as short
Bybit APEUSDTshort	+0.0100%	8h	0.1463	−0.034%	$3.7M	$2.5M	50x
OKX APE-USDT-SWAP	+0.0100%	8h	0.1463	−0.021%	$1.3M	$1.3M	20x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate APE_USDT	+0.0100%	8h	0.1463	−0.014%	$632K	$293K	50x	as long as short
MEXC APE_USDT	+0.0100%	8h	0.1463	−0.014%	$3.7M	$859K	50x	as long as short
KuCoin APEUSDTM	+0.0100%	8h	0.1462	−0.082%	$1.8M	$1.9M	50x	as long as short
Bitget APEUSDT	+0.0100%	8h	0.1464	+0.055%	$2.1M	$530K	25x	as long as short
BingX APE-USDT	+0.0100%	8h	0.1463	−0.014%	—	$13.5M	—	as long as short
Variational Omni APE	+0.0100%	8h	0.1463	−0.006%	$7K	$12K	—	as long as short
Extended APE-USD	+0.0104%	1h	0.1463	−0.024%	$4K	$220K	10x	as long as short
dYdX APE-USD	+0.0298%	1h	0.1460	−0.198%	$9K	$5	5x	as long as short
Deribit APE_USDC-PERPETUAL	+0.0434%	1h	0.1464	+0.055%	$11K	$18K	25x	as long as short
Coinbase International APE-PERP-INTX	+0.0688%	1h	0.1466	+0.191%	$99K	$7K	25x	as long as short