Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0028%/8h= +3.0% APRpaid last 24h +0.007%

Price spread now: QFEX against Phemex−0.015%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$930.933% of the position

Long on Phemex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.011%+$1 on $10k

Price spread, last 3 days (all we have)−0.005%−$1 · spread now −0.015%, 7d avg −0.031%

Together, before fees+0.006%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.031%, 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	2h 43m	$2.1M	$6K	10x
Short	QFEX AAPL-USD	338.90	0.0028	get 0.0003% / 1h	43m 04s	$3.2M	$4.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.015%Rate

Funding earned: $5.81
Price spread: −0.015% → −0.031%: $1.64
Slippage, 4 orders: −$71.33
Fee Phemex: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$85.88
Costs to cover: 0.933%
Break-even: 110.4 days

Slippage from Phemex: live order book, 5 min ago; QFEX: live order book, 6 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, 5 min ago	0.74 bp	36.7 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	1.33 bp	6.3 bp −$6	6.3 bp −$63	11.5 bp −$1,148	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	−0.0775%	4h	338.85	−0.029%	$81K	$327K	20x	as long as short
Nado AAPL-PERP	−0.0069%	1h	338.77	−0.052%	$554K	$38K	20x	as long as short
Hotstuff AAPL-PERP	−0.0008%	1h	338.88	−0.021%	$36K	—	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.94	−0.004%	$122K	$291K	20x	as long as short
Bybit AAPLUSDT	0.0000%	8h	338.95	0.000%	$6.0M	$39.3M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.94	−0.003%	$6.4M	$6.6M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.76	−0.056%	$3.0M	$4.2M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	338.99	+0.012%	$6.2M	$3.4M	100x	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.87	−0.023%	$17K	$433K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.94	−0.003%	$780	$4.7M	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.80	−0.044%	$28K	$67K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.07	+0.035%	$52K	$225K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	338.95	long leg	$2.1M	$6K	10x
QFEX AAPL-USDshort	+0.0028%	1h	338.90	−0.015%	$3.2M	$4.9M	10x
Lighter AAPL	+0.0032%	1h	338.80	−0.045%	$744K	$2.3M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.84	−0.032%	$953K	$3.5M	20x	as long as short
Variational Omni AAPL	+0.0034%	8h	338.90	−0.013%	$2.4M	$1.4M	—	as long as short
Arcus AAPL-USD	+0.0040%	1h	338.82	−0.038%	$269K	$70K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.68	−0.080%	—	$45K	25x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.65	−0.089%	$261K	$395K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.89	−0.018%	$75K	$3K	10x	as long as short
BloFin AAPL-USDT	+0.0050%	8h	338.91	−0.012%	$347K	$169K	20x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.71	−0.071%	$1.4M	$2.4M	20x	as long as short
Extended AAPL_24_5-USD	+0.0064%	1h	338.86	−0.028%	$284K	$2.0M	10x	as long as short
Binance AAPLUSDT	+0.0064%	8h	338.92	−0.009%	$22.2M	$66.8M	25x	as long as short
tradeXYZ xyz:AAPL	+0.0092%	1h	338.89	−0.018%	$40.8M	$75.8M	20x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.67	−0.083%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.67	−0.083%	$946K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.84	−0.032%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.86	−0.028%	$11K	—	10x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0136%	1h	338.51	−0.130%	$655K	$665K	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	+0.0236%	1h	338.95	0.000%	$5K	$11K	20x	as long as short