Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Phemex against Orderly+0.065%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Phemex

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 pays, funding is against you. Phemex is 0.065% dearer against Orderly than usual: you sell high and buy low (spread +0.065% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AAPL_USDC_mythos	338.93	0.0100	pay 0.0100% / 8h	1h 18m	$4K	—	10x
Short	Phemex AAPLUSDT	339.15	0	get 0.0000% / 4h	1h 18m	$2.1M	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Orderly. 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 OrderlybpFee PhemexbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$21
Price spread: +0.065% → 0.000%: $6.49
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$32.51
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Phemex: live order book, 5 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	1.62 bp	41.9 bp −$42	doesn't fit	doesn't fit	doesn't fit

Orderly: 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	−0.0884%	4h	339.05	+0.036%	$81K	$326K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.13	+0.058%	$122K	$291K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.02	+0.028%	$285K	$1.5M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.09	+0.047%	$22.4M	$67.3M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.13	+0.059%	$6.1M	$39.9M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.06	+0.038%	$6.6M	$6.9M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.90	−0.009%	$3.0M	$4.2M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.10	+0.050%	$6.2M	$3.3M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.10	+0.049%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.10	+0.050%	$14K	$498K	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	339.07	+0.041%	$576	$4.8M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.86	−0.021%	$28K	$65K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.23	+0.089%	$53K	$222K	30x	as long as short
Phemex AAPLUSDTshort	0.0000%	4h	339.15	+0.065%	$2.1M	$7K	10x
BloFin AAPL-USDT	+0.0003%	8h	339.10	+0.050%	$352K	$167K	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.01	+0.024%	$968K	$3.8M	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.71	−0.065%	—	$53K	25x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.88	−0.015%	$265K	$394K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.97	+0.012%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.71	−0.065%	$1.5M	$2.4M	20x	as long as short
Lighter AAPL	+0.0056%	1h	338.99	+0.017%	$769K	$2.5M	20x	as long as short
QFEX AAPL-USD	+0.0059%	1h	339.01	+0.024%	$3.2M	$5.1M	10x	as long as short
Nado AAPL-PERP	+0.0082%	1h	338.82	−0.031%	$556K	$34K	20x	as long as short
Hotstuff AAPL-PERP	+0.0096%	1h	338.97	+0.012%	$36K	—	20x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.84	−0.027%	$1.4M	$28K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.74	−0.056%	$946K	$10.9M	50x	as long as short
Orderly PERP_AAPL_USDC_mythoslong	+0.0100%	8h	338.93	long leg	$4K	—	10x
Aevo AAPL-PERP	+0.0104%	1h	339.00	+0.022%	$11K	—	10x	as long as short
tradeXYZ xyz:AAPL	+0.0182%	1h	338.97	+0.012%	$40.9M	$76.6M	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0184%	1h	339.03	+0.030%	$660K	$677K	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.55	+0.183%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0354%	1h	339.15	+0.065%	$2K	$11K	20x	as long as short
Arcus AAPL-USD	+0.0364%	1h	338.97	+0.012%	$270K	$70K	20x	as long as short