Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0131%/8h= −14.3% APRpaid last 24h −0.066%

Price spread now: Bitget against Injective−0.106%71s7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

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

costs, in and out, $10k−$370.365% of the position

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.451%−$45 on $10k

Price spread, last 3 days (all we have)+0.212%+$21 · spread now −0.106%, 7d avg −0.075%

Together, before fees−0.239%−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bitget is 0.031% cheaper against Injective than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.075%). Swap the legs. The two prices were read 71 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	Injective AAPL/USDC PERP	339.41	0.0220	pay 0.0028% / 1h	4m 15s	$191K	$44K	30x
Short	Bitget AAPLUSDT	339.05	0.0089	get 0.0089% / 8h	4m 15s	$6.2M	$3.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. 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 InjectivebpFee BitgetbpOrdersPrice spread, now −0.106%Rate

Funding earned: −$27.51
Price spread: −0.106% → −0.075%: −$3.06
Slippage, 4 orders: −$24.51
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$67.1
Costs to cover: 0.365%
Break-even: never at this rate

Slippage from Injective: live order book, 10 min ago; Bitget: 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 Injective live order book, 10 min ago	10.03 bp	10.0 bp −$10	10.0 bp −$100	57594.1 bp −$5.76M	327969.7 bp −$163.98M
Sell Bitget live order book, 4 min ago	0.15 bp	8.7 bp −$9	13.2 bp −$132	42.2 bp −$4,217	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	−0.0925%	4h	339.03	−0.113%	$81K	$326K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.99	−0.124%	$122K	$291K	20x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.06	−0.103%	$6.0M	$39.2M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.03	−0.112%	$6.5M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.84	−0.168%	$3.0M	$4.2M	100x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.02	−0.115%	$441	$4.8M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.77	−0.189%	$28K	$66K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.15	−0.077%	$53K	$224K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	339.06	−0.103%	$2.1M	$6K	10x	as long as short
GRVT AAPL_USDT_Perp	+0.0025%	8h	339.05	−0.107%	$13K	$490K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH AAPL	+0.0032%	1h	338.93	−0.141%	$965K	$3.8M	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.75	−0.194%	—	$53K	25x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.90	−0.150%	$265K	$394K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.94	−0.138%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.66	−0.221%	$1.4M	$2.4M	20x	as long as short
Lighter AAPL	+0.0056%	1h	338.91	−0.146%	$772K	$2.5M	20x	as long as short
QFEX AAPL-USD	+0.0064%	1h	339.02	−0.115%	$3.2M	$5.1M	10x	as long as short
Bitget AAPLUSDTshort	+0.0089%	8h	339.05	−0.106%	$6.2M	$3.5M	100x
KuCoin AAPLUSDTM	+0.0100%	8h	338.83	−0.171%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.75	−0.194%	$946K	$10.9M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.87	−0.159%	$4K	—	10x	as long as short
Nado AAPL-PERP	+0.0103%	1h	338.82	−0.175%	$556K	$34K	20x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.99	−0.125%	$11K	—	10x	as long as short
Variational Omni AAPL	+0.0105%	8h	339.04	−0.110%	$2.4M	$1.4M	—	as long as short
Binance AAPLUSDT	+0.0127%	8h	339.01	−0.119%	$22.4M	$67.0M	25x	as long as short
Extended AAPL_24_5-USD	+0.0128%	1h	338.94	−0.137%	$285K	$1.5M	10x	as long as short
BloFin AAPL-USDT	+0.0134%	8h	339.02	−0.115%	$347K	$170K	20x	as long as short
Hotstuff AAPL-PERP	+0.0168%	1h	338.95	−0.136%	$36K	—	20x	as long as short
tradeXYZ xyz:AAPL	+0.0176%	1h	338.95	−0.136%	$40.8M	$76.1M	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0192%	1h	339.03	−0.112%	$660K	$676K	10x	as long as short
Injective AAPL/USDC PERPlong	+0.0220%	1h	339.41	long leg	$191K	$44K	30x
Phoenix AAPL	+0.0330%	1h	339.00	−0.121%	$5K	$8K	20x	as long as short
Arcus AAPL-USD	+0.0397%	1h	338.87	−0.159%	$269K	$70K	20x	as long as short