Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.007%

Price spread now: tradeXYZ against Phemex−0.059%48s7-day average −0.103% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1081.076% of the position

Long on Phemex Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now −0.059%, 7d avg −0.103%

Together, before fees−0.065%+ Points / potential airdroptradeXYZ: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.044% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.103%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

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 44m	$2.1M	$7K	10x
Short	tradeXYZ xyz:AAPL	338.75	0.0050	get 0.0006% / 1h	44m 24s	$40.5M	$76.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.059%Rate

Funding earned: $10.5
Price spread: −0.059% → −0.103%: $4.42
Slippage, 4 orders: −$77.63
Fee Phemex: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$92.72
Costs to cover: 1.076%
Break-even: 68.8 days

Slippage from Phemex: live order book, 4 min ago; tradeXYZ: 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, 4 min ago	1.48 bp	44.5 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 5 min ago	0.15 bp	9.4 bp −$9	11.1 bp −$111	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	−0.0172%	4h	338.95	+0.001%	$81K	$328K	20x	as long as short
Nado AAPL-PERP	−0.0106%	1h	338.80	−0.043%	$554K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.83	−0.035%	$121K	$292K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	338.81	−0.041%	$284K	$2.0M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	338.92	−0.010%	$21.9M	$67.1M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	338.86	−0.027%	$5.9M	$61.3M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.96	+0.003%	$6.3M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.67	−0.083%	$3.0M	$4.3M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	338.95	0.000%	$6.2M	$3.5M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.01	+0.019%	$2.4M	$1.4M	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT AAPL_USDT_Perp	0.0000%	8h	338.85	−0.030%	$16K	$411K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.92	−0.009%	$732	$4.6M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.74	−0.062%	$28K	$67K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.06	+0.032%	$53K	$225K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	338.95	long leg	$2.1M	$7K	10x
BloFin AAPL-USDT	+0.0024%	8h	338.96	+0.003%	$340K	$168K	20x	as long as short
QFEX AAPL-USD	+0.0030%	1h	338.88	−0.021%	$3.2M	$4.5M	10x	as long as short
Lighter AAPL	+0.0032%	1h	338.77	−0.052%	$783K	$2.4M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.78	−0.050%	$948K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	338.82	−0.038%	$266K	$65K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.76	−0.056%	—	$45K	25x	as long as short
tradeXYZ xyz:AAPLshort	+0.0050%	1h	338.75	−0.059%	$40.5M	$76.0M	20x
Polymarket Perps AAPL-USD	+0.0050%	1h	338.79	−0.047%	$278K	$405K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.79	−0.047%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.72	−0.068%	$1.3M	$2.5M	20x	as long as short
Hotstuff AAPL-PERP	+0.0072%	1h	338.80	−0.044%	$36K	—	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0096%	1h	338.78	−0.050%	$661K	$657K	10x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.60	−0.103%	$1.4M	$38K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.84	−0.032%	$946K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.80	−0.044%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.81	−0.041%	$11K	—	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.77	−0.053%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0236%	1h	338.97	+0.006%	$5K	$11K	20x	as long as short