Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter against Phemex−0.055%7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$780.775% of the position

Long on Phemex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 3 days (all we have)+0.009%+$1 · spread now −0.055%, 7d avg −0.058%

Together, before fees+0.078%+ Points / potential airdropLighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.058%, so right now this pair is about funding alone: +$1 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	338.95	0	get 0.0000% / 4h	3h 31m	$2.1M	$6K	10x
Short	Lighter AAPL	338.76	0.0032	get 0.0004% / 1h	31m 33s	$770K	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.055%Rate

Funding earned: $6.72
Price spread: −0.055% → −0.058%: $0.35
Slippage, 4 orders: −$65.51
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$70.44
Costs to cover: 0.775%
Break-even: 80.4 days

Slippage from Phemex: live order book, 2 min ago; Lighter: 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, 2 min ago	1.62 bp	39.9 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.44 bp	0.6 bp −$1	1.3 bp −$13	48.5 bp −$4,854	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	−0.0386%	4h	338.84	−0.031%	$81K	$326K	20x	as long as short
Nado AAPL-PERP	−0.0023%	1h	338.73	−0.064%	$556K	$36K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.97	+0.005%	$122K	$291K	20x	as long as short
Bybit AAPLUSDT	0.0000%	8h	338.89	−0.018%	$6.0M	$39.3M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.85	−0.030%	$6.4M	$6.5M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.68	−0.080%	$3.0M	$4.2M	100x	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.93	−0.006%	$13K	$479K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.90	−0.015%	$840	$4.7M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.61	−0.100%	$28K	$66K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	338.99	+0.012%	$53K	$225K	30x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AAPLUSDTlong	0.0000%	4h	338.95	long leg	$2.1M	$6K	10x
Lighter AAPLshort	+0.0032%	1h	338.76	−0.055%	$770K	$2.3M	20x
Lighter RH AAPL	+0.0032%	1h	338.82	−0.038%	$957K	$3.6M	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.63	−0.094%	—	$52K	25x	as long as short
Hotstuff AAPL-PERP	+0.0048%	1h	338.77	−0.053%	$36K	—	20x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	338.78	−0.050%	$40.8M	$75.9M	20x	as long as short
Bitget AAPLUSDT	+0.0050%	8h	338.91	−0.012%	$6.2M	$3.4M	100x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.67	−0.083%	$263K	$396K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.80	−0.044%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.57	−0.112%	$1.4M	$2.5M	20x	as long as short
QFEX AAPL-USD	+0.0059%	1h	338.83	−0.035%	$3.2M	$5.1M	10x	as long as short
Variational Omni AAPL	+0.0090%	8h	338.94	−0.004%	$2.4M	$1.4M	—	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.61	−0.100%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.68	−0.080%	$946K	$10.9M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.81	−0.041%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.81	−0.041%	$11K	—	10x	as long as short
Binance AAPLUSDT	+0.0112%	8h	338.91	−0.012%	$22.2M	$66.7M	25x	as long as short
Extended AAPL_24_5-USD	+0.0112%	1h	338.84	−0.032%	$286K	$2.4M	10x	as long as short
BloFin AAPL-USDT	+0.0114%	8h	338.91	−0.012%	$347K	$169K	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0184%	1h	338.77	−0.053%	$659K	$663K	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.65	−0.089%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0330%	1h	338.96	+0.003%	$5K	$11K	20x	as long as short
Arcus AAPL-USD	+0.0406%	1h	338.80	−0.044%	$269K	$70K	20x	as long as short