Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.024%

Price spread now: KuCoin against Phemex−0.080%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$225as in the Funding arb table

Net, price: spread back to 7d avg − costs−$226as in the Price arb table

costs, in and out, $10k−$2262.259% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now −0.080%, 7d avg −0.082%

Together, before fees+0.061%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.082%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAPLUSDT	338.99	0	get 0.0000% / 4h	1h 29m	$2.1M	$6K	10x
Short	KuCoin AAPLUSDTM	338.72	0.0100	get 0.0100% / 8h	5h 29m	$1.4M	$27K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.080%Rate

Funding earned: $21
Price spread: −0.080% → −0.082%: $0.28
Slippage, 4 orders: −$201.93
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$204.65
Costs to cover: 2.259%
Break-even: 75.2 days

Slippage from Phemex: live order book, 3 min ago; KuCoin: live order book, 5 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, 3 min ago	1.33 bp	44.3 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	6.05 bp	61.5 bp −$62	doesn't fit	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	−0.0112%	4h	338.86	−0.039%	$81K	$327K	20x	as long as short
Nado AAPL-PERP	−0.0059%	1h	338.69	−0.090%	$554K	$38K	20x	as long as short
BloFin AAPL-USDT	−0.0007%	8h	339.01	+0.006%	$343K	$169K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.77	−0.064%	$122K	$291K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	338.78	−0.063%	$285K	$2.0M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	338.87	−0.035%	$22.3M	$67.0M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	338.87	−0.035%	$6.0M	$39.2M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.99	0.000%	$6.3M	$6.8M	25x	as long as short
Hotstuff AAPL-PERP	0.0000%	1h	338.86	−0.038%	$36K	—	20x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.69	−0.088%	$3.0M	$4.2M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AAPLUSDT	0.0000%	8h	338.93	−0.018%	$6.2M	$3.5M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	338.99	−0.001%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.88	−0.033%	$17K	$424K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.97	−0.006%	$610	$4.6M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.61	−0.112%	$28K	$67K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	338.94	−0.015%	$52K	$224K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	338.99	long leg	$2.1M	$6K	10x
QFEX AAPL-USD	+0.0013%	1h	338.79	−0.059%	$3.2M	$4.8M	10x	as long as short
Lighter AAPL	+0.0032%	1h	338.66	−0.099%	$771K	$2.4M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.71	−0.083%	$950K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	338.83	−0.047%	$269K	$69K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.66	−0.097%	—	$45K	25x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0048%	1h	338.78	−0.062%	$659K	$673K	10x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.62	−0.109%	$261K	$370K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.80	−0.056%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.67	−0.094%	$1.3M	$2.5M	20x	as long as short
tradeXYZ xyz:AAPL	+0.0066%	1h	338.77	−0.065%	$40.7M	$75.8M	20x	as long as short
KuCoin AAPLUSDTMshort	+0.0100%	8h	338.72	−0.080%	$1.4M	$27K	20x
ApeX Omni AAPLUSDT	+0.0100%	1h	338.74	−0.074%	$946K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.70	−0.086%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.67	−0.094%	$10K	—	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.72	−0.080%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0259%	1h	338.96	−0.009%	$5K	$11K	20x	as long as short