Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0184%/8h= +20.1% APRpaid last 24h −0.019%

Price spread now: Hotstuff against Phemex−0.044%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.044% cheaper against Phemex than usual: you would sell low and buy high (spread −0.044% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 19 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAPLUSDT	338.95	0	get 0.0000% / 4h	13m 55s	$2.1M	$7K	10x
Short	Hotstuff AAPL-PERP	338.80	0.0184	get 0.0023% / 1h	13m 55s	$36K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Phemex. 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 PhemexbpFee HotstuffbpOrdersPrice spread, now −0.044%Rate

Funding earned: $38.64
Price spread: −0.044% → 0.000%: −$4.43
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $17.21
Costs to cover: 0.170%
Break-even: 3.9 days

Slippage unknown: Phemex: live order book, 4 min ago; Hotstuff: 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 Phemex live order book, 4 min ago	1.48 bp	46.4 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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	−0.0744%	4h	338.88	−0.019%	$81K	$328K	20x	as long as short
Nado AAPL-PERP	−0.0023%	1h	338.86	−0.027%	$554K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.83	−0.036%	$122K	$290K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	338.81	−0.042%	$284K	$2.0M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	338.91	−0.012%	$21.9M	$67.1M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	338.85	−0.030%	$5.9M	$47.2M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.91	−0.012%	$6.3M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.69	−0.077%	$3.0M	$4.3M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	338.97	+0.006%	$6.2M	$3.5M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	338.94	−0.001%	$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	338.97	+0.005%	$17K	$425K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.94	−0.003%	$153	$4.6M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.64	−0.091%	$28K	$67K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.04	+0.027%	$53K	$225K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	338.95	long leg	$2.1M	$7K	10x
BloFin AAPL-USDT	+0.0028%	8h	338.94	−0.003%	$342K	$168K	20x	as long as short
QFEX AAPL-USD	+0.0031%	1h	338.88	−0.021%	$3.2M	$4.6M	10x	as long as short
Lighter AAPL	+0.0032%	1h	338.78	−0.050%	$782K	$2.5M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.80	−0.044%	$946K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	338.82	−0.038%	$266K	$67K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.75	−0.059%	—	$45K	25x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	338.77	−0.053%	$40.5M	$76.0M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.80	−0.044%	$278K	$422K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.79	−0.047%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.66	−0.086%	$1.3M	$2.5M	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0080%	1h	338.78	−0.050%	$659K	$661K	10x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.84	−0.032%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.71	−0.071%	$946K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.86	−0.027%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.82	−0.039%	$11K	—	10x	as long as short
Hotstuff AAPL-PERPshort	+0.0184%	1h	338.80	−0.044%	$36K	—	20x
Injective AAPL/USDC PERP	+0.0220%	1h	338.72	−0.068%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0283%	1h	338.97	+0.006%	$5K	$11K	20x	as long as short