Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0858%/8h= −93.9% APRpaid last 24h −0.219%

Price spread now: edgeX against tradeXYZ+0.003%106s7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as 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−$400.402% of the position

Long on tradeXYZ Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.427%−$43 on $10k

Price spread, last 4 days (all we have)+0.183%+$18 · spread now +0.003%, 7d avg +0.077%

Together, before fees−0.243%+ Points / potential airdroptradeXYZ: Active · edgeX: Active · farm board−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and edgeX is 0.074% cheaper against tradeXYZ than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.077%). Swap the legs. The two prices were read 106 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.427% in total (about -22.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:AAPL	338.77	0.0078	pay 0.0010% / 1h	1m 55s	$40.7M	$75.8M	20x
Short	edgeX AAPLUSDC	338.78	−0.0780	pay 0.0390% / 4h	1h 01m	$81K	$327K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against tradeXYZ. 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 tradeXYZbpFee edgeXbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$180.12
Price spread: +0.003% → +0.077%: −$7.41
Slippage, 4 orders: −$13.21
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$227.73
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 8 min ago; edgeX: live order book, 61 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 tradeXYZ live order book, 8 min ago	0.29 bp	9.7 bp −$10	12.1 bp −$121	doesn't fit	doesn't fit
Sell edgeX live order book, 61 min ago	5.31 bp	10.3 bp −$10	17.5 bp −$175	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 AAPLUSDCshort	−0.0780%	4h	338.78	+0.003%	$81K	$327K	20x
Nado AAPL-PERP	−0.0039%	1h	338.62	−0.043%	$554K	$38K	20x	as long as short
Hotstuff AAPL-PERP	−0.0016%	1h	338.71	−0.018%	$36K	—	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.78	+0.004%	$122K	$291K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	338.76	−0.003%	$286K	$2.0M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	338.85	+0.023%	$22.2M	$66.9M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	338.86	+0.027%	$5.9M	$39.3M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.94	+0.050%	$6.3M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.61	−0.047%	$3.0M	$4.3M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	338.94	+0.050%	$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	338.85	+0.022%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.81	+0.013%	$17K	$425K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.85	+0.024%	$302	$4.6M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.54	−0.068%	$28K	$67K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	338.96	+0.056%	$53K	$224K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	338.90	+0.038%	$2.1M	$7K	10x	as long as short
QFEX AAPL-USD	+0.0013%	1h	338.78	+0.003%	$3.2M	$4.8M	10x	as long as short
BloFin AAPL-USDT	+0.0025%	8h	338.88	+0.032%	$343K	$169K	20x	as long as short
Lighter AAPL	+0.0032%	1h	338.66	−0.033%	$780K	$2.5M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.69	−0.024%	$947K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	338.75	−0.006%	$269K	$69K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.58	−0.056%	—	$45K	25x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0048%	1h	338.78	+0.003%	$659K	$671K	10x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.57	−0.059%	$261K	$370K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.75	−0.006%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.64	−0.038%	$1.3M	$2.5M	20x	as long as short
tradeXYZ xyz:AAPLlong	+0.0078%	1h	338.77	long leg	$40.7M	$75.8M	20x
KuCoin AAPLUSDTM	+0.0100%	8h	338.69	−0.024%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.68	−0.027%	$946K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.65	−0.035%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.68	−0.028%	$10K	—	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.65	−0.035%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0259%	1h	338.97	+0.059%	$5K	$11K	20x	as long as short