Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h +0.014%

Price spread now: BloFin against Phemex+0.021%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1031.027% of the position

Long on Phemex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.021%, 7d avg −0.009%

Together, before fees+0.083%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BloFin is 0.029% dearer against Phemex than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAPLUSDT	339.75	0	get 0.0000% / 4h	1h 57m	$2.1M	$7K	10x
Short	BloFin AAPL-USDT	339.82	0.0028	get 0.0028% / 8h	5h 57m	$348K	$165K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Phemex. 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 PhemexbpFee BloFinbpOrdersPrice spread, now +0.021%Rate

Funding earned: $5.92
Price spread: +0.021% → −0.009%: $2.93
Slippage, 4 orders: −$78.72
Fee Phemex: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$93.88
Costs to cover: 1.027%
Break-even: 118.0 days

Slippage from Phemex: live order book, 4 min ago; BloFin: live order book, 51 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 Phemex live order book, 4 min ago	1.33 bp	46.8 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 51 min ago	0.59 bp	6.6 bp −$7	9.0 bp −$90	20.8 bp −$2,080	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	−0.492%	$36K	—	20x	as long as short
edgeX AAPLUSDC	−0.0227%	4h	339.61	−0.041%	$81K	$328K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.74	−0.003%	$121K	$295K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.71	−0.013%	$285K	$2.1M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.82	+0.019%	$22.1M	$67.1M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.76	+0.003%	$6.6M	$281.4M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.77	+0.006%	$6.3M	$6.7M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	339.63	−0.035%	$3.0M	$7.2M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.81	+0.018%	$6.2M	$3.5M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.69	−0.019%	$2.5M	$1.3M	—	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT AAPL_USDT_Perp	0.0000%	8h	339.91	+0.047%	$13K	$348K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.82	+0.021%	$686	$4.2M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.93	+0.053%	$62K	$242K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	339.75	long leg	$2.1M	$7K	10x
QFEX AAPL-USD	+0.0026%	1h	339.76	+0.003%	$3.2M	$4.2M	10x	as long as short
BloFin AAPL-USDTshort	+0.0028%	8h	339.82	+0.021%	$348K	$165K	20x
Lighter RH AAPL	+0.0032%	1h	339.67	−0.024%	$1.0M	$3.1M	20x	as long as short
Lighter AAPL	+0.0040%	1h	339.69	−0.017%	$931K	$2.5M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.61	−0.041%	$267K	$52K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.58	−0.050%	—	$45K	25x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.72	−0.009%	$279K	$347K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.67	−0.024%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	339.68	−0.021%	$1.3M	$2.2M	20x	as long as short
Nado AAPL-PERP	+0.0080%	1h	339.67	−0.023%	$556K	$29K	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0080%	1h	339.77	+0.006%	$660K	$655K	10x	as long as short
tradeXYZ xyz:AAPL	+0.0096%	1h	339.64	−0.032%	$40.5M	$76.5M	20x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	339.58	−0.050%	$1.4M	$153K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	339.72	−0.009%	$949K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.69	−0.018%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.69	−0.018%	$11K	$102	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	340.30	+0.162%	$192K	$44K	30x	as long as short
Phoenix AAPL	+0.0235%	1h	339.76	+0.003%	$5K	$11K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	+0.0251%	1h	339.76	+0.003%	$28K	$70K	10x	as long as short