Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.018%

Price spread now: Binance against Arcus+0.035%46s7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.303% of the position

Long on Arcus Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.070%−$7 on $10k

Price spread, last 4 days (all we have)+0.379%+$38 · spread now +0.035%, 7d avg +0.057%

Together, before fees+0.309%+$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.022% cheaper against Arcus than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.057%). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus AAPL-USD	338.72	0.0040	pay 0.0005% / 1h	57m 55s	$266K	$66K	20x
Short	Binance AAPLUSDT	338.84	0	get 0.0000% / 8h	3h 57m	$21.9M	$67.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Arcus. 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 ArcusbpFee BinancebpOrdersPrice spread, now +0.035%Rate

Funding earned: −$8.46
Price spread: +0.035% → +0.057%: −$2.18
Slippage, 4 orders: −$15.77
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$40.9
Costs to cover: 0.303%
Break-even: never at this rate

Slippage from Arcus: live order book, 60 min ago; Binance: live order book, 14 min ago.

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 Arcus live order book, 60 min ago	2.81 bp	10.8 bp −$11	14.5 bp −$145	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.15 bp	5.7 bp −$6	8.9 bp −$89	23.6 bp −$2,358	doesn't fit

AAPL on 33 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
edgeX AAPLUSDC	−0.0342%	4h	338.78	+0.016%	$81K	$328K	20x	as long as short
Nado AAPL-PERP	−0.0069%	1h	338.72	+0.001%	$554K	$38K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	−0.0045%	1h	338.56	−0.047%	$28K	$67K	10x	as long as short
BloFin AAPL-USDT	−0.0010%	8h	338.84	+0.035%	$341K	$168K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.74	+0.006%	$122K	$292K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	338.75	+0.008%	$284K	$2.0M	10x	as long as short
Binance AAPLUSDTshort	0.0000%	8h	338.84	+0.035%	$21.9M	$67.0M	25x
Bybit AAPLUSDT	0.0000%	8h	338.78	+0.018%	$5.9M	$53.5M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.82	+0.030%	$6.3M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.60	−0.035%	$3.0M	$4.2M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AAPLUSDT	0.0000%	8h	338.89	+0.050%	$6.2M	$3.5M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	338.83	+0.034%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.90	+0.054%	$17K	$411K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.83	+0.032%	$732	$4.6M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	338.91	+0.056%	$53K	$225K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	338.83	+0.032%	$2.1M	$7K	10x	as long as short
QFEX AAPL-USD	+0.0030%	1h	338.79	+0.021%	$3.2M	$4.6M	10x	as long as short
Lighter AAPL	+0.0032%	1h	338.69	−0.009%	$782K	$2.4M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.70	−0.006%	$944K	$3.6M	20x	as long as short
Arcus AAPL-USDlong	+0.0040%	1h	338.72	long leg	$266K	$66K	20x
Vest AAPL-USD-PERP	+0.0046%	1h	338.64	−0.024%	—	$45K	25x	as long as short
Hotstuff AAPL-PERP	+0.0048%	1h	338.68	−0.012%	$36K	—	20x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	338.69	−0.009%	$40.5M	$75.9M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.71	−0.003%	$278K	$405K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.68	−0.012%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.58	−0.041%	$1.3M	$2.5M	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0096%	1h	338.78	+0.018%	$659K	$652K	10x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.69	−0.009%	$1.4M	$38K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.69	−0.009%	$946K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.71	−0.003%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.71	−0.002%	$11K	—	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.26	+0.159%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0283%	1h	338.81	+0.027%	$5K	$11K	20x	as long as short