ApeX vs Binance Funding Arbitrage
13 shared markets · net of estimated fees · updated every few minutesApeX and Binance both quote 13 of the same perpetual markets, so a delta-neutral position can be split across the two and collect the difference in their funding. The widest spread on a market with real depth is LTC — long Binance / short ApeX at 82.4% net APR — but the median across all shared markets is 8.0%, which is the number worth planning around.
The long leg is whichever venue prices funding lower for that market. It is a property of the MARKET, not of the exchange, and it flips as rates move: here 0 markets go long on ApeX and 13 on Binance. 9 markets clear 5% net APR, 6 clear 10%.
Spreads by market
top 13 of 13 by net APR| Market | Long | Short | Net APR | Gross | 7d avg | Thin leg vol |
|---|---|---|---|---|---|---|
| LTC | Binance | ApeX | 82.4% | 86.2% | +0.5% | $1.1M |
| WLD | Binance | ApeX | 24.4% | 28.5% | +2.2% | $233K |
| OP | Binance | ApeX | 22.7% | 27.1% | +2.1% | $711K |
| ARB | Binance | ApeX | 14.7% | 18.7% | +2.8% | $468K |
| XRP | Binance | ApeX | 14.0% | 16.8% | +2.3% | $988K |
| LDO | Binance | ApeX | 11.9% | 16.1% | -1.5% | $657K |
| BNB | Binance | ApeX | 8.0% | 10.9% | +3.7% | $453K |
| DOGE | Binance | ApeX | 5.8% | 9.6% | +0.0% | $381K |
| AVAX | Binance | ApeX | 5.7% | 9.2% | -0.2% | $756K |
| BTC | Binance | ApeX | 4.8% | 7.3% | -0.5% | $311.8M |
| LINK | Binance | ApeX | 4.2% | 7.6% | +1.1% | $677K |
| SOL | Binance | ApeX | 3.3% | 6.0% | -17.1% | $3.9M |
| APT | Binance | ApeX | 1.9% | 7.5% | -0.2% | $668K |
Net APR subtracts entry and exit fees, both legs' bid/ask spread and estimated slippage from the gross funding spread. The 7-day average is historical gross funding for the same pair: a current rate close to it suggests the spread has persisted, one far above it is usually a spike that will decay.
Coverage note: ApeX and Binance share 13 markets, 3 of them with real depth — below the 10 markets / 5 liquid this page treats as full coverage, so this is a thin sample rather than a picture of the pair.
ApeX vs Binance — FAQ
How many markets can you arbitrage between ApeX and Binance?
13 perpetual markets are quoted on both ApeX and Binance right now. 9 of them show a net spread of at least 5% APR after estimated fees, and 3 have at least $1M of 24h volume on the smaller leg.
What is the best ApeX / Binance funding spread right now?
LTC: long Binance and short ApeX for about 82.4% net APR after estimated fees, counting only markets with at least $1M of 24h volume on the smaller leg. The median across all 13 shared markets is 8.0%, so the top of the list is not typical.
Which side pays on the ApeX / Binance pair?
It varies by market: ApeX is the long (funding-receiving) leg in 0 of the shared markets and Binance in the other 13. The direction is set per market by which venue currently prices funding lower.
Trading the ApeX / Binance spread
The trade is one position split across two venues: long the exchange paying the more negative funding, short the one paying the more positive, in the same size. What limits it is not the headline APR but the smaller leg's liquidity, the fees on both sides, and how long the spread survives — funding decays and flips, often within hours. Venue detail: ApeX funding rates · Binance funding rates; the full calculation is in the methodology.