Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.052%

Price spread now: KuCoin against Injective−0.171%55s7-day average −0.128% · you buy dearer than you sell

Net, funding: paid 7d − costs−$282as 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−$2392.390% of the position

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.434%−$43 on $10k

Price spread, last 4 days (all we have)+0.220%+$22 · spread now −0.171%, 7d avg −0.128%

Together, before fees−0.214%−$21 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 KuCoin is 0.043% cheaper against Injective than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.128%). Swap the legs. The two prices were read 55 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	340.16	0.0220	pay 0.0028% / 1h	54m 21s	$191K	$44K	30x
Short	KuCoin AAPLUSDTM	339.58	0.0100	get 0.0100% / 8h	5h 54m	$1.4M	$156K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.171%Rate

Funding earned: −$25.2
Price spread: −0.171% → −0.128%: −$4.28
Slippage, 4 orders: −$227
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$268.5
Costs to cover: 2.390%
Break-even: never at this rate

Slippage from Injective: live order book, 57 min ago; KuCoin: 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, 57 min ago	9.71 bp	9.7 bp −$10	9.7 bp −$97	57600.4 bp −$5.76M	328001.7 bp −$164.00M
Sell KuCoin live order book, 4 min ago	7.65 bp	108.6 bp −$109	doesn't fit	doesn't fit	doesn't fit

AAPL on 33 exchanges

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
Hotstuff AAPL-PERP	−0.1600%	1h	338.08	−0.611%	$36K	—	20x	as long as short
edgeX AAPLUSDC	−0.0029%	4h	339.75	−0.120%	$81K	$326K	20x	as long as short
BloFin AAPL-USDT	−0.0024%	8h	339.82	−0.100%	$348K	$165K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.81	−0.104%	$121K	$295K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.70	−0.136%	$285K	$2.1M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.82	−0.100%	$22.1M	$67.1M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.78	−0.112%	$6.6M	$281.4M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.77	−0.115%	$6.3M	$6.7M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	339.63	−0.156%	$3.0M	$7.2M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.80	−0.106%	$6.2M	$3.5M	100x	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AAPL	0.0000%	8h	339.81	−0.101%	$2.5M	$1.3M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.91	−0.074%	$13K	$348K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.81	−0.103%	$445	$4.2M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.91	−0.073%	$62K	$242K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	339.76	−0.118%	$2.1M	$7K	10x	as long as short
QFEX AAPL-USD	+0.0026%	1h	339.73	−0.126%	$3.2M	$4.2M	10x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.69	−0.138%	$1.0M	$3.1M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.61	−0.162%	$267K	$52K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.54	−0.182%	—	$45K	25x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.71	−0.132%	$279K	$347K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.67	−0.144%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	339.49	−0.197%	$1.3M	$2.1M	20x	as long as short
Lighter AAPL	+0.0064%	1h	339.71	−0.133%	$931K	$2.5M	20x	as long as short
Nado AAPL-PERP	+0.0076%	1h	339.61	−0.162%	$556K	$29K	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0080%	1h	339.77	−0.115%	$660K	$655K	10x	as long as short
tradeXYZ xyz:AAPL	+0.0093%	1h	339.66	−0.147%	$40.5M	$76.5M	20x	as long as short
KuCoin AAPLUSDTMshort	+0.0100%	8h	339.58	−0.171%	$1.4M	$156K	20x
ApeX Omni AAPLUSDT	+0.0100%	1h	339.72	−0.129%	$949K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.67	−0.144%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.67	−0.143%	$11K	$102	10x	as long as short
Deribit AAPL_USDC-PERPETUAL	+0.0133%	1h	339.69	−0.138%	$28K	$70K	10x	as long as short
Injective AAPL/USDC PERPlong	+0.0220%	1h	340.16	long leg	$191K	$44K	30x
Phoenix AAPL	+0.0235%	1h	339.84	−0.094%	$5K	$12K	20x	as long as short