Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter RH against Phemex−0.035%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$980.976% of the position

Long on Phemex Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 4 days (all we have)+0.059%+$6 · spread now −0.035%, 7d avg −0.047%

Together, before fees+0.126%+ Points / potential airdropLighter RH: Points live · farm board+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.047%, 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	338.85	0	get 0.0000% / 4h	1h 06m	$2.1M	$7K	10x
Short	Lighter RH AAPL	338.73	0.0032	get 0.0004% / 1h	6m 37s	$947K	$3.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.035%Rate

Funding earned: $6.72
Price spread: −0.035% → −0.047%: $1.18
Slippage, 4 orders: −$85.56
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$89.66
Costs to cover: 0.976%
Break-even: 100.4 days

Slippage from Phemex: live order book, 2 min ago; Lighter RH: live order book, 2 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	1.92 bp	46.6 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	0.89 bp	1.2 bp −$1	2.6 bp −$26	40.6 bp −$4,059	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	−0.0866%	4h	338.79	−0.018%	$81K	$326K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	−0.0045%	1h	338.59	−0.077%	$28K	$67K	10x	as long as short
Nado AAPL-PERP	−0.0043%	1h	338.72	−0.038%	$554K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.85	0.000%	$122K	$291K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	338.77	−0.024%	$285K	$2.0M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	338.86	+0.002%	$22.2M	$66.9M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	338.86	+0.003%	$6.0M	$39.2M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.91	+0.018%	$6.3M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.61	−0.071%	$3.0M	$4.3M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	338.96	+0.032%	$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	338.81	−0.013%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.83	−0.006%	$17K	$425K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.85	0.000%	$505	$4.6M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	338.96	+0.032%	$52K	$224K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	338.85	long leg	$2.1M	$7K	10x
QFEX AAPL-USD	+0.0013%	1h	338.80	−0.015%	$3.2M	$4.8M	10x	as long as short
BloFin AAPL-USDT	+0.0016%	8h	338.89	+0.012%	$342K	$169K	20x	as long as short
Hotstuff AAPL-PERP	+0.0024%	1h	338.78	−0.021%	$36K	—	20x	as long as short
Lighter AAPL	+0.0032%	1h	338.70	−0.045%	$776K	$2.5M	20x	as long as short
Lighter RH AAPLshort	+0.0032%	1h	338.73	−0.035%	$947K	$3.6M	20x
Arcus AAPL-USD	+0.0040%	1h	338.75	−0.030%	$269K	$69K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.65	−0.059%	—	$45K	25x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0048%	1h	338.78	−0.021%	$659K	$672K	10x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.60	−0.074%	$261K	$370K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.80	−0.015%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.60	−0.074%	$1.3M	$2.5M	20x	as long as short
tradeXYZ xyz:AAPL	+0.0072%	1h	338.78	−0.021%	$40.7M	$75.8M	20x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.74	−0.032%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.64	−0.062%	$946K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.73	−0.035%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.74	−0.034%	$11K	—	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.60	−0.074%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0259%	1h	338.83	−0.006%	$5K	$11K	20x	as long as short