Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0112%/8h= +12.3% APRpaid last 24h +0.009%

Price spread now: Phoenix against Orderly+0.050%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 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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.050% dearer against Orderly than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AAPL_USDC_mythos	339.68	0.0100	pay 0.0100% / 8h	2h 14m	$4K	—	10x
Short	Phoenix AAPL	339.85	0.0212	get 0.0027% / 1h	14m 35s	$5K	$11K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.050%Rate

Funding earned: $23.57
Price spread: +0.050% → 0.000%: $5
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $15.57
Costs to cover: 0.130%
Break-even: 2.4 days

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

Orderly and 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	−0.0517%	4h	339.69	+0.004%	$81K	$328K	20x	as long as short
Hotstuff AAPL-PERP	−0.0128%	1h	339.77	+0.026%	$36K	—	20x	as long as short
Nado AAPL-PERP	−0.0116%	1h	339.68	0.000%	$556K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.71	+0.010%	$121K	$293K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.69	+0.003%	$288K	$1.8M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.76	+0.024%	$22.1M	$67.6M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.75	+0.021%	$5.9M	$92.0M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.85	+0.050%	$6.3M	$6.9M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	339.59	−0.026%	$3.0M	$4.8M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.85	+0.050%	$6.2M	$3.5M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AAPL	0.0000%	8h	339.75	+0.022%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.61	−0.020%	$16K	$411K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.82	+0.041%	$622	$4.6M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	339.57	−0.032%	$28K	$68K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.89	+0.062%	$62K	$244K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	339.79	+0.032%	$2.1M	$7K	10x	as long as short
QFEX AAPL-USD	+0.0020%	1h	339.67	−0.003%	$3.3M	$4.4M	10x	as long as short
BloFin AAPL-USDT	+0.0023%	8h	339.84	+0.047%	$341K	$168K	20x	as long as short
Lighter AAPL	+0.0032%	1h	339.67	−0.003%	$896K	$2.6M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.66	−0.006%	$945K	$3.7M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.60	−0.024%	$267K	$60K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.56	−0.035%	—	$45K	25x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0048%	1h	339.71	+0.009%	$661K	$662K	10x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	339.66	−0.006%	$40.6M	$76.6M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.58	−0.029%	$278K	$408K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.71	+0.009%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	339.53	−0.044%	$1.3M	$2.5M	20x	as long as short
KuCoin AAPLUSDTM	+0.0096%	8h	339.51	−0.050%	$1.4M	$39K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	339.58	−0.029%	$949K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythoslong	+0.0100%	8h	339.68	long leg	$4K	—	10x
Aevo AAPL-PERP	+0.0104%	1h	339.71	+0.008%	$11K	$102	10x	as long as short
Phoenix AAPLshort	+0.0212%	1h	339.85	+0.050%	$5K	$11K	20x
Injective AAPL/USDC PERP	+0.0220%	1h	339.51	−0.050%	$191K	$44K	30x	as long as short