Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter against Phemex−0.016%7-day average −0.058% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$840.843% of the position

Long on Phemex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now −0.016%, 7d avg −0.058%

Together, before fees+0.039%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.042% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAPLUSDT	339.76	0	get 0.0000% / 4h	48m 05s	$2.1M	$7K	10x
Short	Lighter AAPL	339.71	0.0032	get 0.0004% / 1h	48m 05s	$941K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.016%Rate

Funding earned: $6.72
Price spread: −0.016% → −0.058%: $4.21
Slippage, 4 orders: −$72.26
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$73.34
Costs to cover: 0.843%
Break-even: 83.4 days

Slippage from Phemex: live order book, 5 min ago; Lighter: 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, 5 min ago	0.74 bp	39.8 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.06 bp	0.1 bp $0	1.4 bp −$14	29.3 bp −$2,927	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	−0.0884%	4h	339.58	−0.053%	$81K	$327K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	−0.0162%	1h	339.61	−0.044%	$28K	$69K	10x	as long as short
Nado AAPL-PERP	−0.0123%	1h	339.77	+0.003%	$556K	$37K	20x	as long as short
BloFin AAPL-USDT	−0.0023%	8h	339.75	−0.003%	$343K	$168K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.75	−0.004%	$121K	$292K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.67	−0.027%	$289K	$2.0M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.76	0.000%	$22.1M	$67.5M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.68	−0.024%	$6.2M	$131.2M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.74	−0.006%	$6.3M	$6.9M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	339.54	−0.065%	$3.0M	$5.3M	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	339.75	−0.003%	$6.2M	$3.6M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.64	−0.034%	$2.4M	$1.2M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.63	−0.039%	$16K	$402K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.75	−0.003%	$513	$4.5M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.81	+0.015%	$62K	$245K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	339.76	long leg	$2.1M	$7K	10x
QFEX AAPL-USD	+0.0027%	1h	339.67	−0.026%	$3.2M	$4.2M	10x	as long as short
Lighter AAPLshort	+0.0032%	1h	339.71	−0.016%	$941K	$2.7M	20x
Lighter RH AAPL	+0.0032%	1h	339.68	−0.024%	$949K	$3.5M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.58	−0.053%	$267K	$60K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.64	−0.035%	—	$45K	25x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	339.72	−0.012%	$40.6M	$76.2M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.69	−0.021%	$279K	$424K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.71	−0.015%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	339.51	−0.074%	$1.3M	$2.4M	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0064%	1h	339.55	−0.062%	$660K	$661K	10x	as long as short
Hotstuff AAPL-PERP	+0.0096%	1h	339.67	−0.026%	$36K	—	20x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	339.55	−0.062%	$1.4M	$39K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	339.52	−0.071%	$948K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.68	−0.024%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.70	−0.018%	$11K	$102	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.45	−0.091%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0259%	1h	339.75	−0.003%	$5K	$12K	20x	as long as short