Funding arb · Price arb /

APE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0278%/8h= +30.4% APRpaid last 24h +0.080%

Price spread now: KuCoin against GMX−0.064%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 0.064% cheaper against GMX than usual: you would sell low and buy high (spread −0.064% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 19 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]	0.1463	L −0.0178% / S +0.0185%	get 0.0022% / 1h	40m 50s	$1K	—	100x
Short	KuCoin APEUSDTM	0.1462	0.0100	get 0.0100% / 8h	40m 50s	$1.8M	$2.0M	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 −0.064%Rate

Funding earned: $58.34
Price spread: −0.064% → 0.000%: −$6.43
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $27.91
Costs to cover: 0.240%
Break-even: 3.7 days

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 6 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, 6 min ago	6.83 bp	39.6 bp −$40	138.8 bp −$1,388	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	−0.0178%	1h	0.1464	+0.062%	$406K	$578K	20x	as long as short
GMX APE/USD [APE-USDC]long	L −0.0178% / S +0.0185%	1h	0.1463	long leg	$1K	—	100x
Reya APERUSDPERP	0.0000%	1h	0.1235	−15.583%	—	—	—	as long as short
Injective APE/USDC PERP	+0.0033%	1h	0.1378	−5.806%	$1K	$12K	5.5x	as long as short
dYdX APE-USD	+0.0093%	1h	0.1466	+0.202%	$9K	$5	5x	as long as short
BloFin APE-USDT	+0.0094%	8h	0.1464	+0.072%	$221K	$48K	75x	as long as short
Hyperliquid APE	+0.0100%	1h	0.1465	+0.168%	$1.3M	$369K	5x	as long as short
Aster APEUSDT	+0.0100%	8h	0.1461	−0.122%	$121K	$22K	10x	as long as short
Binance APEUSDT	+0.0100%	8h	0.1464	+0.038%	$4.1M	$6.2M	50x	as long as short
Bybit APEUSDT	+0.0100%	8h	0.1463	−0.003%	$3.6M	$2.6M	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	0.1463	+0.018%	$1.3M	$1.3M	20x	as long as short
Gate APE_USDT	+0.0100%	8h	0.1464	+0.072%	$632K	$292K	50x	as long as short
MEXC APE_USDT	+0.0100%	8h	0.1463	+0.004%	$4.1M	$922K	50x	as long as short
KuCoin APEUSDTMshort	+0.0100%	8h	0.1462	−0.064%	$1.8M	$2.0M	50x
Bitget APEUSDT	+0.0100%	8h	0.1464	+0.072%	$2.1M	$537K	25x	as long as short
BingX APE-USDT	+0.0100%	8h	0.1463	+0.004%	—	$13.4M	—	as long as short
Variational Omni APE	+0.0100%	8h	0.1466	+0.183%	$7K	$12K	—	as long as short
Extended APE-USD	+0.0104%	1h	0.1463	−0.016%	$4K	$219K	10x	as long as short
Deribit APE_USDC-PERPETUAL	+0.0434%	1h	0.1464	+0.072%	$11K	$18K	25x	as long as short
Coinbase International APE-PERP-INTX	+0.0776%	1h	0.1470	+0.483%	$99K	$7K	25x	as long as short