Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0283%/8h= +31.0% APRpaid last 24h +0.014%

Price spread now: Phoenix against Binance+0.015%95s7-day average — · you sell dearer than you buy

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

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$8 a day on $10k at the current rate. The two prices were read 95 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	Binance AAPLUSDT	339.01	0	get 0.0000% / 8h	2h 25m	$22.1M	$66.7M	25x
Short	Phoenix AAPL	339.06	0.0283	get 0.0035% / 1h	25m 56s	$2K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. 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 BinancebpFee PhoenixbpOrdersPrice spread, now +0.015%Rate

Funding earned: $59.47
Price spread: +0.015% → 0.000%: $1.47
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $43.94
Costs to cover: 0.170%
Break-even: 1.8 days

Slippage unknown: Binance: live order book, 16 min ago; Phoenix: 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 Binance live order book, 16 min ago	0.15 bp	5.2 bp −$5	9.1 bp −$91	34.9 bp −$3,494	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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.

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	−0.0202%	4h	338.98	−0.010%	$81K	$327K	20x	as long as short
BloFin AAPL-USDT	−0.0017%	8h	339.10	+0.027%	$354K	$165K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.78	−0.066%	$122K	$291K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	338.97	−0.011%	$284K	$1.5M	10x	as long as short
Binance AAPLUSDTlong	0.0000%	8h	339.01	long leg	$22.1M	$66.7M	25x
Bybit AAPLUSDT	0.0000%	8h	339.05	+0.012%	$6.3M	$24.9M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.01	0.000%	$6.6M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.80	−0.062%	$3.0M	$4.1M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.06	+0.015%	$6.2M	$3.3M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	338.99	−0.007%	$2.2M	$1.1M	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT AAPL_USDT_Perp	0.0000%	8h	339.00	−0.003%	$14K	$522K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.00	−0.003%	$844	$4.8M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.06	+0.015%	$53K	$224K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	339.06	+0.015%	$2.1M	$7K	10x	as long as short
Lighter AAPL	+0.0032%	1h	338.94	−0.020%	$755K	$2.5M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.99	−0.006%	$976K	$3.8M	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.72	−0.086%	—	$43K	25x	as long as short
QFEX AAPL-USD	+0.0049%	1h	338.92	−0.027%	$3.2M	$4.9M	10x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.69	−0.094%	$271K	$384K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.99	−0.006%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.78	−0.068%	$1.3M	$2.2M	20x	as long as short
Nado AAPL-PERP	+0.0075%	1h	338.78	−0.068%	$556K	$34K	20x	as long as short
KuCoin AAPLUSDTM	+0.0099%	8h	338.80	−0.062%	$1.4M	$28K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.77	−0.071%	$946K	$10.9M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.91	−0.029%	$4K	—	10x	as long as short
Hotstuff AAPL-PERP	+0.0104%	1h	338.98	−0.009%	$36K	—	20x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.95	−0.019%	$11K	—	10x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0144%	1h	338.96	−0.015%	$658K	$671K	10x	as long as short
tradeXYZ xyz:AAPL	+0.0204%	1h	338.99	−0.006%	$40.7M	$76.7M	20x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.41	+0.118%	$191K	$44K	30x	as long as short
Deribit AAPL_USDC-PERPETUAL	+0.0252%	1h	339.01	0.000%	$28K	$65K	10x	as long as short
Phoenix AAPLshort	+0.0283%	1h	339.06	+0.015%	$2K	$12K	20x
Arcus AAPL-USD	+0.0310%	1h	338.95	−0.018%	$270K	$69K	20x	as long as short