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 −0.014%

Price spread now: KuCoin against Deribit−0.068%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on KuCoin

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

Funding pays, the price is against you. KuCoin is 0.068% cheaper against Deribit than usual: you would sell low and buy high (spread −0.068% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit APE_USDC-PERPETUAL	0.1470	0	get 0.0000% / 1h	51m 10s	$11K	$18K	25x
Short	KuCoin APEUSDTM	0.1469	0.0100	get 0.0100% / 8h	7h 51m	$1.8M	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now −0.068%Rate

Funding earned: $21
Price spread: −0.068% → 0.000%: −$6.8
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$4.8
Costs to cover: 0.190%
Break-even: 8.6 days

Slippage unknown: Deribit: no order-book sample; KuCoin: live order book, 5 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 Deribit no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 5 min ago	6.81 bp	79.7 bp −$80	339.3 bp −$3,393	doesn't fit	doesn't fit

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	0.1469	−0.053%	$408K	$601K	20x	as long as short
GMX APE/USD [APE-USDC]	L −0.0178% / S +0.0185%	1h	0.1470	−0.018%	$1K	—	100x	as long as short
dYdX APE-USD	0.0000%	1h	0.1469	−0.092%	$9K	$5	5x	as long as short
Reya APERUSDPERP	0.0000%	1h	0.1235	−15.988%	—	—	—	as long as short
Deribit APE_USDC-PERPETUALlong	0.0000%	1h	0.1470	long leg	$11K	$18K	25x
Injective APE/USDC PERP	+0.0033%	1h	0.1378	−6.259%	$1K	$12K	5.5x	as long as short
BloFin APE-USDT	+0.0090%	8h	0.1471	+0.068%	$221K	$49K	75x	as long as short
Hyperliquid APE	+0.0100%	1h	0.1471	+0.048%	$1.3M	$370K	5x	as long as short
Aster APEUSDT	+0.0100%	8h	0.1469	−0.045%	$122K	$22K	10x	as long as short
Binance APEUSDT	+0.0100%	8h	0.1469	−0.042%	$4.1M	$6.2M	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit APEUSDT	+0.0100%	8h	0.1470	−0.027%	$3.7M	$2.7M	50x	as long as short
OKX APE-USDT-SWAP	+0.0100%	8h	0.1470	−0.007%	$1.3M	$1.4M	20x	as long as short
Gate APE_USDT	+0.0100%	8h	0.1469	−0.048%	$633K	$292K	50x	as long as short
MEXC APE_USDT	+0.0100%	8h	0.1469	−0.068%	$4.1M	$926K	50x	as long as short
KuCoin APEUSDTMshort	+0.0100%	8h	0.1469	−0.068%	$1.8M	$2.2M	50x
Bitget APEUSDT	+0.0100%	8h	0.1470	0.000%	$2.1M	$553K	25x	as long as short
BingX APE-USDT	+0.0100%	8h	0.1470	0.000%	—	$13.0M	—	as long as short
Variational Omni APE	+0.0100%	8h	0.1469	−0.039%	$7K	$12K	—	as long as short
Extended APE-USD	+0.0104%	1h	0.1469	−0.060%	$4K	$221K	10x	as long as short
Coinbase International APE-PERP-INTX	+0.0840%	1h	0.1474	+0.272%	$99K	$7K	25x	as long as short