Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.010%

Price spread now: Coinbase International against Phemex−0.006%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$1021.023% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 3 days (all we have)−0.024%−$2 · spread now −0.006%, 7d avg −0.081%

Together, before fees+0.013%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.075% dearer against Phemex than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAPLUSDT	339.02	0	get 0.0000% / 4h	2h 12m	$2.1M	$7K	10x
Short	Coinbase International AAPL-PERP-INTX	339.00	0.0144	get 0.0018% / 1h	12m 14s	$661K	$675K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.006%Rate

Funding earned: $30.24
Price spread: −0.006% → −0.081%: $7.53
Slippage, 4 orders: −$80.28
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$64.51
Costs to cover: 1.023%
Break-even: 21.9 days

Slippage from Phemex: live order book, 1 min ago; Coinbase International: live order book, 11 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, 1 min ago	1.18 bp	43.1 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 11 min ago	2.21 bp	8.9 bp −$9	13.1 bp −$131	doesn't fit	doesn't fit

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	−0.0472%	4h	338.96	−0.018%	$81K	$327K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.05	+0.009%	$122K	$291K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.02	+0.001%	$284K	$1.5M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.05	+0.009%	$22.3M	$67.3M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.06	+0.012%	$6.2M	$24.9M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.99	−0.009%	$6.6M	$6.9M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.83	−0.056%	$3.0M	$4.2M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.07	+0.015%	$6.2M	$3.3M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.01	−0.001%	$2.5M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.98	−0.012%	$14K	$510K	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	339.02	0.000%	$865	$4.8M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.81	−0.062%	$28K	$65K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.15	+0.038%	$53K	$223K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	339.02	long leg	$2.1M	$7K	10x
BloFin AAPL-USDT	+0.0026%	8h	339.04	+0.006%	$354K	$165K	20x	as long as short
Lighter AAPL	+0.0032%	1h	338.90	−0.035%	$761K	$2.5M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.95	−0.021%	$973K	$3.8M	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.68	−0.100%	—	$43K	25x	as long as short
QFEX AAPL-USD	+0.0049%	1h	339.09	+0.021%	$3.2M	$5.0M	10x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.74	−0.083%	$271K	$384K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.99	−0.009%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.72	−0.088%	$1.4M	$2.3M	20x	as long as short
Nado AAPL-PERP	+0.0080%	1h	338.73	−0.084%	$556K	$35K	20x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.79	−0.068%	$1.4M	$28K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.68	−0.100%	$946K	$10.9M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.86	−0.047%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.94	−0.023%	$11K	—	10x	as long as short
Hotstuff AAPL-PERP	+0.0120%	1h	338.99	−0.009%	$36K	—	20x	as long as short
Coinbase International AAPL-PERP-INTXshort	+0.0144%	1h	339.00	−0.006%	$661K	$675K	10x
tradeXYZ xyz:AAPL	+0.0212%	1h	338.98	−0.012%	$41.0M	$77.1M	20x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.70	−0.094%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0283%	1h	339.04	+0.006%	$2K	$12K	20x	as long as short
Arcus AAPL-USD	+0.0310%	1h	338.97	−0.015%	$270K	$69K	20x	as long as short