Funding arb · Price arb /

APE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0278%/8h= +30.4% APRpaid last 24h +0.085%

Price spread now: Bitget against GMX−0.074%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 Bitget

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. Bitget is 0.074% cheaper against GMX than usual: you would sell low and buy high (spread −0.074% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 21 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]	0.1487	L −0.0178% / S +0.0185%	get 0.0022% / 1h	7m 35s	$1K	—	100x
Short	Bitget APEUSDT	0.1486	0.0100	get 0.0100% / 8h	7h 07m	$2.1M	$552K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.074%Rate

Funding earned: $58.34
Price spread: −0.074% → 0.000%: −$7.4
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: $26.94
Costs to cover: 0.240%
Break-even: 3.8 days

Slippage unknown: GMX: no order-book sample; Bitget: 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 GMX no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	6.76 bp	25.5 bp −$26	180.9 bp −$1,809	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	−0.0209%	1h	0.1487	−0.026%	$412K	$609K	20x	as long as short
GMX APE/USD [APE-USDC]long	L −0.0178% / S +0.0185%	1h	0.1487	long leg	$1K	—	100x
Reya APERUSDPERP	0.0000%	1h	0.1235	−16.953%	—	—	—	as long as short
Deribit APE_USDC-PERPETUAL	0.0000%	1h	0.1486	−0.074%	$11K	$18K	25x	as long as short
Injective APE/USDC PERP	+0.0033%	1h	0.1378	−7.336%	$1K	$12K	5.5x	as long as short
dYdX APE-USD	+0.0037%	1h	0.1487	−0.035%	$9K	$5	5x	as long as short
Hyperliquid APE	+0.0100%	1h	0.1487	−0.007%	$1.3M	$369K	5x	as long as short
Aster APEUSDT	+0.0100%	8h	0.1486	−0.101%	$123K	$22K	10x	as long as short
Binance APEUSDT	+0.0100%	8h	0.1486	−0.074%	$4.2M	$6.4M	50x	as long as short
Bybit APEUSDT	+0.0100%	8h	0.1486	−0.061%	$3.7M	$2.9M	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	0.1486	−0.061%	$1.3M	$1.4M	20x	as long as short
Gate APE_USDT	+0.0100%	8h	0.1486	−0.067%	$636K	$303K	50x	as long as short
MEXC APE_USDT	+0.0100%	8h	0.1485	−0.141%	$4.4M	$962K	50x	as long as short
KuCoin APEUSDTM	+0.0100%	8h	0.1485	−0.141%	$1.8M	$2.4M	50x	as long as short
Bitget APEUSDTshort	+0.0100%	8h	0.1486	−0.074%	$2.1M	$552K	25x
BingX APE-USDT	+0.0100%	8h	0.1486	−0.074%	—	$13.2M	—	as long as short
Variational Omni APE	+0.0100%	8h	0.1480	−0.464%	$8K	$12K	—	as long as short
Extended APE-USD	+0.0104%	1h	0.1486	−0.096%	$4K	$210K	10x	as long as short
BloFin APE-USDT	+0.0122%	8h	0.1484	−0.208%	$220K	$51K	75x	as long as short
Coinbase International APE-PERP-INTX	+0.0840%	1h	0.1490	+0.195%	$100K	$7K	25x	as long as short