Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0235%/8h= +25.8% APRpaid last 24h +0.052%

Price spread now: Phoenix against Bybit+0.035%66s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.035% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 66 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	Bybit AAPLUSDT	339.51	0	get 0.0000% / 8h	5h 04m	$6.8M	$283.7M	100x
Short	Phoenix AAPL	339.63	0.0235	get 0.0029% / 1h	4m 23s	$5K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.035%Rate

Funding earned: $49.44
Price spread: +0.035% → 0.000%: $3.53
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $34.97
Costs to cover: 0.180%
Break-even: 2.0 days

Slippage unknown: Bybit: live order book, 3 min ago; Phoenix: no order-book sample. Net counts fees only.

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, 3 min ago	0.15 bp	5.6 bp −$6	5.9 bp −$59	13.1 bp −$1,310	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AAPL on 33 exchanges

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
Hotstuff AAPL-PERP	−0.1600%	1h	339.45	−0.018%	$36K	—	20x	as long as short
BloFin AAPL-USDT	−0.0003%	8h	339.66	+0.044%	$349K	$165K	20x	as long as short
edgeX AAPLUSDC	0.0000%	4h	339.58	+0.022%	$81K	$327K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.49	−0.006%	$121K	$295K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.52	+0.003%	$285K	$2.1M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.64	+0.038%	$22.2M	$66.9M	25x	as long as short
Bybit AAPLUSDTlong	0.0000%	8h	339.51	long leg	$6.8M	$283.7M	100x
OKX AAPL-USDT-SWAP	0.0000%	8h	339.56	+0.015%	$6.3M	$6.7M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	339.47	−0.012%	$3.0M	$7.3M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.68	+0.050%	$6.2M	$3.5M	100x	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AAPL	0.0000%	8h	339.65	+0.043%	$2.5M	$1.3M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.62	+0.032%	$12K	$339K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.64	+0.038%	$876	$4.1M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.68	+0.050%	$62K	$241K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	339.67	+0.047%	$2.1M	$7K	10x	as long as short
QFEX AAPL-USD	+0.0026%	1h	339.57	+0.018%	$3.3M	$4.2M	10x	as long as short
Nado AAPL-PERP	+0.0027%	1h	339.51	−0.001%	$556K	$28K	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.57	+0.018%	$1.0M	$3.2M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.41	−0.029%	$267K	$48K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	+0.0045%	1h	339.50	−0.003%	$28K	$69K	10x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.44	−0.021%	—	$45K	25x	as long as short
Lighter AAPL	+0.0048%	1h	339.56	+0.016%	$925K	$2.5M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.52	+0.003%	$279K	$347K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.50	−0.003%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	339.46	−0.015%	$1.3M	$2.2M	20x	as long as short
tradeXYZ xyz:AAPL	+0.0073%	1h	339.50	−0.003%	$40.6M	$76.7M	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0080%	1h	339.59	+0.024%	$660K	$623K	10x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	339.42	−0.027%	$1.4M	$195K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	339.48	−0.009%	$948K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.48	−0.009%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.47	−0.012%	$11K	$102	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.90	+0.115%	$191K	$44K	30x	as long as short
Phoenix AAPLshort	+0.0235%	1h	339.63	+0.035%	$5K	$12K	20x