Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Bybit against Injective+0.047%7-day average −0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.461%−$46 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now +0.047%, 7d avg −0.075%

Together, before fees−0.413%−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.122% dearer against Injective than usual: you sell high and buy low (spread +0.047% now, against its 7-day average of −0.075%): +$12 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 45 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AAPL/USDC PERP	339.51	0.0220	pay 0.0028% / 1h	44m 57s	$191K	$44K	30x
Short	Bybit AAPLUSDT	339.67	0	get 0.0000% / 8h	1h 44m	$5.9M	$107.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. 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 InjectivebpFee BybitbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$46.2
Price spread: +0.047% → −0.075%: $12.25
Slippage, 4 orders: −$20.05
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$65.02
Costs to cover: 0.311%
Break-even: never at this rate

Slippage from Injective: live order book, 64 min ago; Bybit: live order book, 4 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 Injective live order book, 64 min ago	9.88 bp	9.9 bp −$10	9.9 bp −$99	57599.3 bp −$5.76M	327995.9 bp −$164.00M
Sell Bybit live order book, 4 min ago	0.15 bp	5.6 bp −$6	6.6 bp −$66	22.8 bp −$2,284	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	−0.0783%	4h	339.73	+0.064%	$81K	$328K	20x	as long as short
Nado AAPL-PERP	−0.0043%	1h	339.52	+0.002%	$555K	$38K	20x	as long as short
BloFin AAPL-USDT	−0.0018%	8h	339.67	+0.047%	$341K	$168K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.60	+0.026%	$121K	$293K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.58	+0.020%	$288K	$1.8M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.65	+0.043%	$22.1M	$67.7M	25x	as long as short
Bybit AAPLUSDTshort	0.0000%	8h	339.67	+0.047%	$5.9M	$107.9M	100x
OKX AAPL-USDT-SWAP	0.0000%	8h	339.74	+0.068%	$6.3M	$7.0M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	339.44	−0.021%	$3.0M	$5.0M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.70	+0.056%	$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	339.73	+0.063%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.73	+0.065%	$16K	$402K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.65	+0.041%	$761	$4.6M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	339.54	+0.009%	$28K	$68K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.71	+0.059%	$62K	$245K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	339.76	+0.074%	$2.1M	$7K	10x	as long as short
QFEX AAPL-USD	+0.0023%	1h	339.65	+0.041%	$3.2M	$4.3M	10x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0024%	1h	339.55	+0.012%	$660K	$656K	10x	as long as short
Lighter AAPL	+0.0032%	1h	339.60	+0.027%	$908K	$2.6M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.60	+0.027%	$951K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.61	+0.029%	$267K	$60K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.47	−0.012%	—	$45K	25x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.56	+0.015%	$280K	$417K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.58	+0.021%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	339.44	−0.021%	$1.3M	$2.4M	20x	as long as short
tradeXYZ xyz:AAPL	+0.0072%	1h	339.59	+0.024%	$40.6M	$76.6M	20x	as long as short
Hotstuff AAPL-PERP	+0.0088%	1h	339.60	+0.027%	$36K	—	20x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	339.42	−0.027%	$1.4M	$39K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	339.61	+0.029%	$949K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.59	+0.024%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.58	+0.022%	$11K	$102	10x	as long as short
Phoenix AAPL	+0.0212%	1h	339.85	+0.100%	$5K	$12K	20x	as long as short
Injective AAPL/USDC PERPlong	+0.0220%	1h	339.51	long leg	$191K	$44K	30x