Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0178%/8h= +19.5% APRnext payment +$0.22 per $10,000 · paid last 24h —

Price spread now: Reya against GMX−15.789%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 Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 15.789% cheaper against GMX than usual: you would sell low and buy high (spread −15.789% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,579 on $10k: about 10 months of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX APE/USD [APE-USDC]	0.1467	L −0.0178% / S +0.0185%	get 0.0022% / 1h	5m 02s	$1K	—	100x
Short	Reya APERUSDPERP	0.1235	0	get 0.0000% / 1h	5m 02s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −15.789%Rate

Funding earned: $37.34
Price spread: −15.789% → 0.000%: −$1,578.9
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$1,559.57
Costs to cover: 0.180%
Break-even: 299.4 days

Slippage unknown: GMX: no order-book sample; Reya: 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 GMX no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

GMX and Reya: 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
GMX APE/USD [APE-USDC]long	L −0.0178% / S +0.0185%	1h	0.1467	long leg	$1K	—	100x
Reya APERUSDPERPshort	0.0000%	1h	0.1235	−15.789%	—	—	—
Injective APE/USDC PERP	+0.0033%	1h	0.1378	−6.041%	$1K	$12K	5.5x	as long as short
Aster APEUSDT	+0.0100%	8h	0.1466	−0.020%	$122K	$20K	10x	as long as short
Binance APEUSDT	+0.0100%	8h	0.1468	+0.065%	$4.1M	$7.3M	50x	as long as short
Bybit APEUSDT	+0.0100%	8h	0.1466	−0.020%	$3.6M	$2.9M	50x	as long as short
OKX APE-USDT-SWAP	+0.0100%	8h	0.1467	+0.008%	$1.3M	$1.5M	20x	as long as short
Gate APE_USDT	+0.0100%	8h	0.1466	−0.040%	$634K	$314K	50x	as long as short
MEXC APE_USDT	+0.0100%	8h	0.1467	+0.028%	$4.2M	$829K	50x	as long as short
KuCoin APEUSDTM	+0.0100%	8h	0.1466	−0.040%	$1.8M	$4.0M	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget APEUSDT	+0.0100%	8h	0.1467	+0.028%	$2.1M	$607K	25x	as long as short
BingX APE-USDT	+0.0100%	8h	0.1466	−0.040%	—	$13.0M	—	as long as short
Variational Omni APE	+0.0100%	8h	0.1465	−0.122%	$5K	$14K	—	as long as short
Extended APE-USD	+0.0104%	1h	0.1467	+0.027%	$6K	$208K	10x	as long as short
BloFin APE-USDT	+0.0106%	8h	0.1465	−0.108%	$216K	$59K	75x	as long as short
dYdX APE-USD	+0.0135%	1h	0.1465	−0.097%	$9K	—	5x	as long as short
Hyperliquid APE	+0.0159%	1h	0.1470	+0.233%	$1.3M	$374K	5x	as long as short
Kraken Futures PF_APEUSD	+0.0232%	1h	0.1468	+0.068%	$400K	$695K	20x	as long as short
Deribit APE_USDC-PERPETUAL	+0.0432%	1h	0.1468	+0.096%	$5K	$24K	25x	as long as short
Coinbase International APE-PERP-INTX	+0.1104%	1h	0.1484	+1.187%	$100K	$8K	25x	as long as short