Funding arb · Price arb /

APE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0278%/8h= +30.4% APRpaid last 24h +0.081%

Price spread now: KuCoin against GMX−0.145%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 KuCoin

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. KuCoin is 0.145% cheaper against GMX than usual: you would sell low and buy high (spread −0.145% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 42 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]	0.1469	L −0.0178% / S +0.0185%	get 0.0022% / 1h	3m 17s	$1K	—	100x
Short	KuCoin APEUSDTM	0.1467	0.0100	get 0.0100% / 8h	5h 03m	$1.8M	$2.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.145%Rate

Funding earned: $58.34
Price spread: −0.145% → 0.000%: −$14.5
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $19.84
Costs to cover: 0.240%
Break-even: 4.6 days

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	6.81 bp	41.7 bp −$42	145.9 bp −$1,459	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	−0.0179%	1h	0.1469	+0.020%	$405K	$611K	20x	as long as short
GMX APE/USD [APE-USDC]long	L −0.0178% / S +0.0185%	1h	0.1469	long leg	$1K	—	100x
Reya APERUSDPERP	0.0000%	1h	0.1235	−15.937%	—	—	—	as long as short
Injective APE/USDC PERP	+0.0033%	1h	0.1378	−6.203%	$1K	$12K	5.5x	as long as short
dYdX APE-USD	+0.0059%	1h	0.1467	−0.167%	$9K	$5	5x	as long as short
Hyperliquid APE	+0.0100%	1h	0.1472	+0.189%	$1.3M	$363K	5x	as long as short
Aster APEUSDT	+0.0100%	8h	0.1469	−0.026%	$122K	$21K	10x	as long as short
Binance APEUSDT	+0.0100%	8h	0.1468	−0.048%	$4.1M	$6.6M	50x	as long as short
Bybit APEUSDT	+0.0100%	8h	0.1469	−0.043%	$3.6M	$3.0M	50x	as long as short
OKX APE-USDT-SWAP	+0.0100%	8h	0.1468	−0.050%	$1.3M	$1.4M	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	0.1468	−0.097%	$631K	$309K	50x	as long as short
MEXC APE_USDT	+0.0100%	8h	0.1468	−0.077%	$4.4M	$879K	50x	as long as short
KuCoin APEUSDTMshort	+0.0100%	8h	0.1467	−0.145%	$1.8M	$2.9M	50x
Bitget APEUSDT	+0.0100%	8h	0.1469	−0.009%	$2.1M	$549K	25x	as long as short
BingX APE-USDT	+0.0100%	8h	0.1468	−0.077%	—	$13.1M	—	as long as short
Variational Omni APE	+0.0100%	8h	0.1467	−0.134%	$7K	$12K	—	as long as short
Extended APE-USD	+0.0104%	1h	0.1468	−0.050%	$4K	$206K	10x	as long as short
BloFin APE-USDT	+0.0220%	8h	0.1469	−0.009%	$222K	$57K	75x	as long as short
Deribit APE_USDC-PERPETUAL	+0.0431%	1h	0.1470	+0.059%	$11K	$18K	25x	as long as short
Coinbase International APE-PERP-INTX	+0.0880%	1h	0.1483	+0.944%	$100K	$7K	25x	as long as short