Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0844%/8h= +92.4% APRpaid last 24h +0.217%

Price spread now: Lighter against edgeX+0.004%49s7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs+$34as 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−$230.226% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.570%+$57 on $10k

Price spread, last 4 days (all we have)−0.078%−$8 · spread now +0.004%, 7d avg −0.031%

Together, before fees+0.492%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board+$49 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Lighter is 0.034% dearer against edgeX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.031%. The two prices were read 49 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 0.570% in total (about 29.7% 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	edgeX AAPLUSDC	339.76	−0.0812	get 0.0406% / 4h	2h 24m	$81K	$326K	20x
Short	Lighter AAPL	339.77	0.0032	get 0.0004% / 1h	24m 25s	$855K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now +0.004%Rate

Funding earned: $177.29
Price spread: +0.004% → −0.031%: $3.44
Slippage, 4 orders: −$13.59
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $158.14
Costs to cover: 0.226%
Break-even: 0.8 days

Slippage from edgeX: live order book, 24 min ago; Lighter: 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 edgeX live order book, 24 min ago	5.16 bp	10.2 bp −$10	17.9 bp −$179	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	0.34 bp	1.3 bp −$1	2.5 bp −$25	40.8 bp −$4,082	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 AAPLUSDClong	−0.0812%	4h	339.76	long leg	$81K	$326K	20x
Nado AAPL-PERP	−0.0115%	1h	339.87	+0.032%	$556K	$38K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	−0.0074%	1h	339.71	−0.015%	$28K	$68K	10x	as long as short
BloFin AAPL-USDT	−0.0018%	8h	339.84	+0.023%	$340K	$168K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.83	+0.019%	$121K	$292K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.79	+0.010%	$285K	$1.8M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.89	+0.038%	$22.0M	$67.6M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.89	+0.038%	$5.9M	$89.5M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.90	+0.041%	$6.3M	$6.9M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	339.67	−0.027%	$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	339.95	+0.055%	$6.2M	$3.5M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.83	+0.021%	$2.4M	$1.3M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.63	−0.039%	$16K	$411K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.86	+0.029%	$435	$4.6M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.93	+0.049%	$53K	$225K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	339.80	+0.011%	$2.1M	$7K	10x	as long as short
Hotstuff AAPL-PERP	+0.0016%	1h	339.77	+0.002%	$36K	—	20x	as long as short
QFEX AAPL-USD	+0.0020%	1h	339.76	−0.001%	$3.2M	$4.4M	10x	as long as short
Lighter AAPLshort	+0.0032%	1h	339.77	+0.004%	$855K	$2.6M	20x
Lighter RH AAPL	+0.0032%	1h	339.77	+0.002%	$939K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.59	−0.051%	$267K	$60K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.75	−0.004%	—	$45K	25x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0048%	1h	339.56	−0.059%	$663K	$661K	10x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	339.77	+0.002%	$40.5M	$76.5M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.68	−0.024%	$278K	$408K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.81	+0.014%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	339.62	−0.042%	$1.3M	$2.5M	20x	as long as short
KuCoin AAPLUSDTM	+0.0099%	8h	339.45	−0.092%	$1.4M	$38K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	339.78	+0.005%	$949K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.74	−0.006%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.77	+0.002%	$11K	$102	10x	as long as short
Phoenix AAPL	+0.0212%	1h	339.89	+0.038%	$5K	$11K	20x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.68	−0.024%	$191K	$44K	30x	as long as short