Funding arb · Price arb /

APE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0224%/8h= +24.5% APRnext payment +$0.28 per $10,000 · paid last 24h —

Price spread now: Reya against Kraken Futures−16.277%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures 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 16.277% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −16.277% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,628 on $10k: about 8 months of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_APEUSD	0.1475	−0.0224	get 0.0028% / 1h	39m 17s	$410K	$607K	20x
Short	Reya APERUSDPERP	0.1235	0	get 0.0000% / 1h	39m 17s	—	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Kraken FuturesbpFee ReyabpOrdersPrice spread, now −16.277%Rate

Funding earned: $47
Price spread: −16.277% → 0.000%: −$1,627.75
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$1,596.74
Costs to cover: 0.160%
Break-even: 244.8 days

Slippage unknown: Kraken Futures: live order book, 29 min ago; 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 Kraken Futures live order book, 29 min ago	10.10 bp	35.0 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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
Kraken Futures PF_APEUSDlong	−0.0224%	1h	0.1475	long leg	$410K	$607K	20x
GMX APE/USD [APE-USDC]	L −0.0178% / S +0.0185%	1h	0.1475	+0.010%	$1K	—	100x	as long as short
Reya APERUSDPERPshort	0.0000%	1h	0.1235	−16.277%	—	—	—
dYdX APE-USD	+0.0009%	1h	0.1471	−0.300%	$9K	$5	5x	as long as short
Injective APE/USDC PERP	+0.0033%	1h	0.1378	−6.583%	$1K	$12K	5.5x	as long as short
BloFin APE-USDT	+0.0076%	8h	0.1477	+0.128%	$220K	$54K	75x	as long as short
Hyperliquid APE	+0.0100%	1h	0.1477	+0.108%	$1.3M	$377K	5x	as long as short
Aster APEUSDT	+0.0100%	8h	0.1472	−0.235%	$122K	$22K	10x	as long as short
Binance APEUSDT	+0.0100%	8h	0.1474	−0.057%	$4.1M	$6.6M	50x	as long as short
Bybit APEUSDT	+0.0100%	8h	0.1475	−0.014%	$3.6M	$3.0M	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	0.1475	−0.035%	$1.3M	$1.4M	20x	as long as short
Gate APE_USDT	+0.0100%	8h	0.1474	−0.068%	$633K	$308K	50x	as long as short
MEXC APE_USDT	+0.0100%	8h	0.1474	−0.075%	$4.3M	$881K	50x	as long as short
KuCoin APEUSDTM	+0.0100%	8h	0.1472	−0.211%	$1.8M	$2.5M	50x	as long as short
Bitget APEUSDT	+0.0100%	8h	0.1475	−0.007%	$2.1M	$577K	25x	as long as short
BingX APE-USDT	+0.0100%	8h	0.1473	−0.143%	—	$13.1M	—	as long as short
Variational Omni APE	+0.0100%	8h	0.1472	−0.226%	$8K	$12K	—	as long as short
Extended APE-USD	+0.0104%	1h	0.1474	−0.084%	$4K	$204K	10x	as long as short
Deribit APE_USDC-PERPETUAL	+0.0428%	1h	0.1476	+0.060%	$11K	$18K	25x	as long as short
Coinbase International APE-PERP-INTX	+0.0904%	1h	0.1471	−0.279%	$99K	$7K	25x	as long as short