Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0310%/8h= −33.9% APRpaid last 24h −0.015%

Price spread now: OKX against Arcus−0.006%47s7-day average +0.020% · you buy dearer than you sell

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−$270.271% of the position

Long on Arcus Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.063%−$6 on $10k

Price spread, last 4 days (all we have)+0.187%+$19 · spread now −0.006%, 7d avg +0.020%

Together, before fees+0.124%+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and OKX is 0.026% cheaper against Arcus than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.020%). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.063% in total (about -6.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus AAPL-USD	338.98	0.0310	pay 0.0039% / 1h	8m 51s	$270K	$69K	20x
Short	OKX AAPL-USDT-SWAP	338.96	0	get 0.0000% / 8h	2h 08m	$6.6M	$6.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$65.09
Price spread: −0.006% → +0.020%: −$2.59
Slippage, 4 orders: −$12.57
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$94.75
Costs to cover: 0.271%
Break-even: never at this rate

Slippage from Arcus: live order book, 14 min ago; OKX: live order book, 4 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, 14 min ago	2.66 bp	7.9 bp −$8	9.4 bp −$94	19.5 bp −$1,945	doesn't fit
Sell OKX live order book, 4 min ago	0.15 bp	5.8 bp −$6	12.1 bp −$121	doesn't fit	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	−0.0340%	4h	339.06	+0.023%	$81K	$325K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.08	+0.028%	$122K	$291K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.04	+0.017%	$284K	$1.5M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.03	+0.015%	$22.3M	$67.3M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.10	+0.035%	$6.2M	$24.9M	100x	as long as short
OKX AAPL-USDT-SWAPshort	0.0000%	8h	338.96	−0.006%	$6.6M	$6.9M	25x
Gate AAPL_USDT	0.0000%	8h	338.87	−0.032%	$3.0M	$4.2M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.07	+0.027%	$6.2M	$3.3M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.07	+0.027%	$2.5M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.01	+0.010%	$14K	$510K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX AAPL-USDT	0.0000%	8h	339.05	+0.021%	$437	$4.8M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.82	−0.047%	$28K	$65K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.19	+0.062%	$53K	$223K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	339.02	+0.012%	$2.1M	$7K	10x	as long as short
BloFin AAPL-USDT	+0.0028%	8h	339.11	+0.038%	$354K	$165K	20x	as long as short
Lighter AAPL	+0.0032%	1h	338.89	−0.026%	$761K	$2.5M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.95	−0.009%	$972K	$3.8M	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.68	−0.089%	—	$43K	25x	as long as short
QFEX AAPL-USD	+0.0049%	1h	339.01	+0.009%	$3.2M	$5.0M	10x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.75	−0.068%	$271K	$384K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.01	+0.009%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.72	−0.077%	$1.4M	$2.3M	20x	as long as short
Nado AAPL-PERP	+0.0084%	1h	338.73	−0.073%	$556K	$35K	20x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.78	−0.059%	$1.4M	$28K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.76	−0.065%	$946K	$10.9M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.91	−0.021%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.00	+0.005%	$11K	—	10x	as long as short
Hotstuff AAPL-PERP	+0.0120%	1h	338.99	+0.003%	$36K	—	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0144%	1h	339.00	+0.006%	$661K	$675K	10x	as long as short
tradeXYZ xyz:AAPL	+0.0219%	1h	339.00	+0.006%	$41.0M	$77.0M	20x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.83	+0.251%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0283%	1h	339.08	+0.030%	$2K	$12K	20x	as long as short
Arcus AAPL-USDlong	+0.0310%	1h	338.98	long leg	$270K	$69K	20x