Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0065%/8h= +7.2% APRpaid last 24h +0.023%

Price spread now: BingX against dYdX−0.122%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on BingX

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. BingX is 0.122% cheaper against dYdX than usual: you would sell low and buy high (spread −0.122% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 6.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX APE-USD	0.1457	0.0035	pay 0.0004% / 1h	5m 42s	$9K	$5	5x
Short	BingX APE-USDT	0.1455	0.0100	get 0.0100% / 8h	2h 05m	—	$13.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against dYdX. 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 dYdXbpFee BingXbpOrdersPrice spread, now −0.122%Rate

Funding earned: $13.72
Price spread: −0.122% → 0.000%: −$12.2
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$18.48
Costs to cover: 0.200%
Break-even: 16.4 days

Slippage unknown: dYdX: no order-book sample; BingX: live order book, 3 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 dYdX no order-book sample	—	—	—	—	—
Sell BingX live order book, 3 min ago	6.87 bp	21.4 bp −$21	68.9 bp −$689	353.1 bp −$35.3K	doesn't fit

dYdX: 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]	L −0.0178% / S +0.0185%	1h	0.1454	−0.158%	$1K	—	100x	as long as short
Reya APERUSDPERP	0.0000%	1h	0.1235	−15.224%	—	—	—	as long as short
Deribit APE_USDC-PERPETUAL	0.0000%	1h	0.1454	−0.191%	$11K	$18K	25x	as long as short
Injective APE/USDC PERP	+0.0033%	1h	0.1378	−5.408%	$1K	$12K	5.5x	as long as short
dYdX APE-USDlong	+0.0035%	1h	0.1457	long leg	$9K	$5	5x
BloFin APE-USDT	+0.0092%	8h	0.1459	+0.153%	$224K	$48K	75x	as long as short
Hyperliquid APE	+0.0100%	1h	0.1455	−0.101%	$1.3M	$370K	5x	as long as short
Aster APEUSDT	+0.0100%	8h	0.1455	−0.141%	$121K	$22K	10x	as long as short
Binance APEUSDT	+0.0100%	8h	0.1454	−0.219%	$4.1M	$6.1M	50x	as long as short
Bybit APEUSDT	+0.0100%	8h	0.1454	−0.211%	$3.6M	$2.5M	50x	as long as short

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	0.1454	−0.225%	$1.3M	$1.3M	20x	as long as short
Gate APE_USDT	+0.0100%	8h	0.1455	−0.122%	$628K	$292K	50x	as long as short
MEXC APE_USDT	+0.0100%	8h	0.1454	−0.191%	$3.8M	$872K	50x	as long as short
KuCoin APEUSDTM	+0.0100%	8h	0.1453	−0.259%	$1.8M	$1.8M	50x	as long as short
Bitget APEUSDT	+0.0100%	8h	0.1454	−0.191%	$2.1M	$539K	25x	as long as short
BingX APE-USDTshort	+0.0100%	8h	0.1455	−0.122%	—	$13.4M	—
Variational Omni APE	+0.0100%	8h	0.1459	+0.127%	$7K	$12K	—	as long as short
Extended APE-USD	+0.0104%	1h	0.1454	−0.204%	$4K	$220K	10x	as long as short
Kraken Futures PF_APEUSD	+0.0156%	1h	0.1454	−0.176%	$408K	$571K	20x	as long as short
Coinbase International APE-PERP-INTX	+0.0648%	1h	0.1470	+0.908%	$99K	$7K	25x	as long as short