Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h +0.039%

Price spread now: Coinbase International against KuCoin−0.032%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1271.275% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 3 days (all we have)+0.096%+$10 · spread now −0.032%, 7d avg +0.003%

Together, before fees+0.135%+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Coinbase International is 0.036% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AAPLUSDTM	339.09	0.0100	pay 0.0100% / 8h	5h 55m	$1.4M	$27K	20x
Short	Coinbase International AAPL-PERP-INTX	338.98	0.0048	get 0.0006% / 1h	55m 01s	$656K	$671K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$10.92
Price spread: −0.032% → +0.003%: −$3.59
Slippage, 4 orders: −$105.47
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$141.97
Costs to cover: 1.275%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Coinbase International: live order book, 8 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 KuCoin live order book, 5 min ago	6.49 bp	51.0 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 8 min ago	2.06 bp	7.9 bp −$8	10.5 bp −$105	doesn't fit	doesn't fit

AAPL on 32 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	−0.0397%	4h	339.14	+0.015%	$81K	$326K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	−0.0104%	1h	338.84	−0.074%	$28K	$67K	10x	as long as short
Nado AAPL-PERP	−0.0083%	1h	339.09	−0.001%	$555K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.07	−0.005%	$122K	$291K	20x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.12	+0.009%	$6.0M	$39.1M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.19	+0.029%	$6.3M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.91	−0.053%	$3.0M	$4.2M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.20	+0.032%	$6.2M	$3.5M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.21	+0.037%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.21	+0.034%	$17K	$433K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX AAPL-USDT	0.0000%	8h	339.20	+0.032%	$553	$4.7M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.21	+0.035%	$53K	$225K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	339.30	+0.062%	$2.1M	$6K	10x	as long as short
Extended AAPL_24_5-USD	+0.0008%	1h	339.04	−0.015%	$288K	$2.0M	10x	as long as short
Binance AAPLUSDT	+0.0011%	8h	339.11	+0.006%	$22.3M	$67.0M	25x	as long as short
QFEX AAPL-USD	+0.0013%	1h	339.13	+0.012%	$3.2M	$4.9M	10x	as long as short
Lighter AAPL	+0.0032%	1h	338.96	−0.037%	$755K	$2.4M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.03	−0.018%	$949K	$3.5M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.08	−0.003%	$270K	$70K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.00	−0.027%	—	$45K	25x	as long as short
Coinbase International AAPL-PERP-INTXshort	+0.0048%	1h	338.98	−0.032%	$656K	$671K	10x
tradeXYZ xyz:AAPL	+0.0050%	1h	339.03	−0.018%	$40.7M	$75.8M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.90	−0.056%	$262K	$396K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.04	−0.015%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.93	−0.047%	$1.3M	$2.5M	20x	as long as short
Hotstuff AAPL-PERP	+0.0080%	1h	339.10	+0.003%	$36K	—	20x	as long as short
KuCoin AAPLUSDTMlong	+0.0100%	8h	339.09	long leg	$1.4M	$27K	20x
ApeX Omni AAPLUSDT	+0.0100%	1h	339.08	−0.003%	$947K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.04	−0.015%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.04	−0.016%	$11K	—	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.95	−0.041%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0236%	1h	339.29	+0.059%	$5K	$11K	20x	as long as short