Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0159%/8h= +17.5% APRpaid last 24h +0.001%

Price spread now: Phoenix against Orderly+0.071%54s7-day average — · you sell dearer than you buy

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

Long on Orderly 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 +$5 a day on $10k at the current rate, and Phoenix is 0.071% dearer against Orderly than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 54 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	Orderly PERP_AAPL_USDC_mythos	338.69	0.0100	pay 0.0100% / 8h	5h 27m	$4K	—	10x
Short	Phoenix AAPL	338.93	0.0259	get 0.0032% / 1h	27m 24s	$5K	$11K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Orderly. 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 OrderlybpFee PhoenixbpOrdersPrice spread, now +0.071%Rate

Funding earned: $33.49
Price spread: +0.071% → 0.000%: $7.09
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $27.57
Costs to cover: 0.130%
Break-even: 1.2 days

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

Orderly and 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 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	−0.0696%	4h	338.81	+0.035%	$81K	$325K	20x	as long as short
Nado AAPL-PERP	−0.0052%	1h	338.75	+0.018%	$554K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.83	+0.043%	$122K	$291K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	338.71	+0.006%	$285K	$2.0M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	338.83	+0.041%	$22.3M	$67.0M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	338.84	+0.044%	$6.0M	$39.2M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.88	+0.056%	$6.3M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.59	−0.030%	$3.0M	$4.2M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	338.93	+0.071%	$6.2M	$3.5M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	338.99	+0.087%	$2.4M	$1.4M	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT AAPL_USDT_Perp	0.0000%	8h	338.88	+0.056%	$17K	$424K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.79	+0.030%	$711	$4.6M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.61	−0.024%	$28K	$67K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	338.90	+0.062%	$53K	$224K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	338.99	+0.089%	$2.1M	$6K	10x	as long as short
BloFin AAPL-USDT	+0.0004%	8h	338.85	+0.047%	$343K	$169K	20x	as long as short
QFEX AAPL-USD	+0.0013%	1h	338.76	+0.021%	$3.2M	$4.8M	10x	as long as short
Lighter AAPL	+0.0032%	1h	338.62	−0.022%	$771K	$2.4M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.66	−0.009%	$950K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	338.76	+0.021%	$269K	$69K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.58	−0.032%	—	$45K	25x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0048%	1h	338.78	+0.027%	$659K	$673K	10x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.58	−0.032%	$261K	$370K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.69	0.000%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.65	−0.012%	$1.3M	$2.5M	20x	as long as short
tradeXYZ xyz:AAPL	+0.0065%	1h	338.69	0.000%	$40.7M	$75.8M	20x	as long as short
Hotstuff AAPL-PERP	+0.0088%	1h	338.68	−0.003%	$36K	—	20x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.72	+0.009%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.72	+0.009%	$946K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythoslong	+0.0100%	8h	338.69	long leg	$4K	—	10x
Aevo AAPL-PERP	+0.0104%	1h	338.67	−0.005%	$10K	—	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.72	+0.009%	$191K	$44K	30x	as long as short
Phoenix AAPLshort	+0.0259%	1h	338.93	+0.071%	$5K	$11K	20x