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: Phemex against Bybit−0.018%7-day average +0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

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

costs, in and out, $10k−$880.882% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 4 days (all we have)+0.035%+$3 · spread now −0.018%, 7d avg +0.025%

Together, before fees+0.044%+$4 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: Phemex is 0.043% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAPLUSDT	339.86	0	get 0.0000% / 8h	2h 24m	$5.9M	$89.4M	100x
Short	Phemex AAPLUSDT	339.80	0	get 0.0000% / 4h	2h 24m	$2.1M	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now −0.018%Rate

Funding earned: $0
Price spread: −0.018% → +0.025%: −$4.26
Slippage, 4 orders: −$65.21
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$92.48
Costs to cover: 0.882%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Phemex: live order book, 3 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 Bybit live order book, 4 min ago	0.15 bp	5.9 bp −$6	9.4 bp −$94	49.4 bp −$4,936	doesn't fit
Sell Phemex live order book, 3 min ago	2.06 bp	38.5 bp −$39	doesn't fit	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	−0.0812%	4h	339.76	−0.029%	$81K	$326K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	−0.0162%	1h	339.67	−0.056%	$28K	$68K	10x	as long as short
Nado AAPL-PERP	−0.0111%	1h	339.87	+0.002%	$556K	$38K	20x	as long as short
BloFin AAPL-USDT	−0.0018%	8h	339.84	−0.006%	$340K	$168K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.77	−0.025%	$121K	$292K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.75	−0.032%	$285K	$1.8M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.80	−0.018%	$22.0M	$67.5M	25x	as long as short
Bybit AAPLUSDTlong	0.0000%	8h	339.86	long leg	$5.9M	$89.4M	100x
OKX AAPL-USDT-SWAP	0.0000%	8h	339.87	+0.003%	$6.3M	$6.9M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	339.61	−0.074%	$3.0M	$4.8M	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	339.84	−0.006%	$6.2M	$3.5M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.83	−0.007%	$2.4M	$1.3M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.63	−0.068%	$16K	$411K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.83	−0.009%	$435	$4.6M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.93	+0.021%	$53K	$225K	30x	as long as short
Phemex AAPLUSDTshort	0.0000%	4h	339.80	−0.018%	$2.1M	$7K	10x
QFEX AAPL-USD	+0.0020%	1h	339.75	−0.032%	$3.2M	$4.4M	10x	as long as short
Lighter AAPL	+0.0032%	1h	339.77	−0.027%	$850K	$2.6M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.76	−0.029%	$939K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.57	−0.085%	$267K	$60K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.74	−0.035%	—	$45K	25x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0048%	1h	339.56	−0.088%	$663K	$661K	10x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	339.75	−0.032%	$40.5M	$76.5M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.68	−0.053%	$278K	$409K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.77	−0.026%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	339.55	−0.091%	$1.3M	$2.5M	20x	as long as short
Hotstuff AAPL-PERP	+0.0080%	1h	339.70	−0.047%	$36K	—	20x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	339.45	−0.121%	$1.4M	$38K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	339.78	−0.024%	$949K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.70	−0.047%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.76	−0.030%	$11K	$102	10x	as long as short
Phoenix AAPL	+0.0212%	1h	339.89	+0.009%	$5K	$11K	20x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.68	−0.053%	$191K	$44K	30x	as long as short