Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.024%

Price spread now: KuCoin against Phemex−0.047%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$226as in the Funding arb table

Net, price: spread back to 7d avg − costs−$223as in the Price arb table

costs, in and out, $10k−$2262.264% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now −0.047%, 7d avg −0.082%

Together, before fees−0.008%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.035% dearer against Phemex than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAPLUSDT	338.95	0	get 0.0000% / 4h	11m 12s	$2.1M	$7K	10x
Short	KuCoin AAPLUSDTM	338.79	0.0100	get 0.0100% / 8h	4h 11m	$1.4M	$27K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.047%Rate

Funding earned: $21
Price spread: −0.047% → −0.082%: $3.46
Slippage, 4 orders: −$202.35
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$201.89
Costs to cover: 2.264%
Break-even: 74.3 days

Slippage from Phemex: live order book, 2 min ago; KuCoin: 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 Phemex live order book, 2 min ago	1.62 bp	43.8 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	6.34 bp	64.8 bp −$65	doesn't fit	doesn't fit	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	−0.0152%	4h	338.89	−0.019%	$81K	$328K	20x	as long as short
Nado AAPL-PERP	−0.0025%	1h	338.74	−0.061%	$554K	$38K	20x	as long as short
BloFin AAPL-USDT	−0.0022%	8h	338.87	−0.024%	$341K	$168K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.77	−0.053%	$122K	$290K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	338.79	−0.049%	$284K	$2.0M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	338.87	−0.024%	$21.9M	$67.1M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	338.82	−0.038%	$5.9M	$47.1M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.87	−0.024%	$6.3M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.68	−0.080%	$3.0M	$4.3M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	338.96	+0.003%	$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	338.88	−0.022%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.99	+0.012%	$17K	$425K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.87	−0.024%	$549	$4.6M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.67	−0.083%	$28K	$67K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	338.98	+0.009%	$53K	$226K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	338.95	long leg	$2.1M	$7K	10x
QFEX AAPL-USD	+0.0031%	1h	338.82	−0.038%	$3.2M	$4.6M	10x	as long as short
Lighter AAPL	+0.0032%	1h	338.73	−0.065%	$782K	$2.5M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.76	−0.056%	$946K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	338.79	−0.047%	$266K	$67K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.65	−0.089%	—	$45K	25x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	338.75	−0.059%	$40.5M	$76.0M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.75	−0.059%	$278K	$422K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.75	−0.059%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.65	−0.089%	$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
Hotstuff AAPL-PERP	+0.0088%	1h	338.75	−0.059%	$36K	—	20x	as long as short
KuCoin AAPLUSDTMshort	+0.0100%	8h	338.79	−0.047%	$1.4M	$27K	20x
ApeX Omni AAPLUSDT	+0.0100%	1h	338.78	−0.050%	$946K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.78	−0.050%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.76	−0.056%	$11K	—	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.66	−0.086%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0283%	1h	338.85	−0.030%	$5K	$11K	20x	as long as short