Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against Phemex−0.015%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

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

costs, in and out, $10k−$990.992% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.015%, 7d avg −0.048%

Together, before fees−0.029%−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.034% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAPLUSDT	339.87	0	get 0.0000% / 4h	17m 42s	$2.1M	$7K	10x
Short	OKX AAPL-USDT-SWAP	339.82	0	get 0.0000% / 8h	17m 42s	$6.3M	$6.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.015%Rate

Funding earned: $0
Price spread: −0.015% → −0.048%: $3.37
Slippage, 4 orders: −$77.24
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$95.87
Costs to cover: 0.992%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; OKX: 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, 6 min ago	1.47 bp	40.4 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.15 bp	6.6 bp −$7	11.7 bp −$117	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	−0.0422%	4h	339.75	−0.035%	$81K	$327K	20x	as long as short
Nado AAPL-PERP	−0.0152%	1h	339.78	−0.028%	$556K	$37K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	−0.0015%	1h	339.67	−0.059%	$28K	$69K	10x	as long as short
BloFin AAPL-USDT	−0.0005%	8h	339.83	−0.012%	$345K	$167K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.78	−0.027%	$121K	$293K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.76	−0.032%	$289K	$2.1M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.85	−0.006%	$22.1M	$67.4M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.81	−0.018%	$6.1M	$155.2M	100x	as long as short
OKX AAPL-USDT-SWAPshort	0.0000%	8h	339.82	−0.015%	$6.3M	$6.9M	25x
Gate AAPL_USDT	0.0000%	8h	339.65	−0.065%	$3.0M	$5.5M	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	339.92	+0.015%	$6.2M	$3.6M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.81	−0.016%	$2.5M	$1.2M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.85	−0.007%	$13K	$357K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.85	−0.006%	$720	$4.5M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.93	+0.018%	$62K	$245K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	339.87	long leg	$2.1M	$7K	10x
QFEX AAPL-USD	+0.0027%	1h	339.77	−0.029%	$3.2M	$4.2M	10x	as long as short
Lighter AAPL	+0.0032%	1h	339.77	−0.031%	$942K	$2.7M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.75	−0.035%	$949K	$3.5M	20x	as long as short
Hotstuff AAPL-PERP	+0.0032%	1h	339.78	−0.026%	$36K	—	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.70	−0.050%	$267K	$60K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.71	−0.047%	—	$45K	25x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	339.78	−0.026%	$40.6M	$76.2M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.72	−0.044%	$279K	$424K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.77	−0.029%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	339.67	−0.059%	$1.3M	$2.3M	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0064%	1h	339.55	−0.094%	$660K	$661K	10x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	339.54	−0.097%	$1.4M	$47K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	339.72	−0.044%	$949K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.74	−0.038%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.72	−0.044%	$11K	$102	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.62	−0.074%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0259%	1h	339.82	−0.015%	$5K	$12K	20x	as long as short