Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Lighter RH against Phemex−0.027%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$870.875% of the position

Long on Phemex Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 3 days (all we have)−0.003%$0 · spread now −0.027%, 7d avg −0.047%

Together, before fees+0.064%+ Points / potential airdropLighter RH: Points live · farm board+$6 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 RH is 0.020% dearer against Phemex than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAPLUSDT	339.05	0	get 0.0000% / 4h	12m 50s	$2.1M	$7K	10x
Short	Lighter RH AAPL	338.96	0.0032	get 0.0004% / 1h	12m 50s	$964K	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.027%Rate

Funding earned: $6.72
Price spread: −0.027% → −0.047%: $2.03
Slippage, 4 orders: −$75.45
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$78.71
Costs to cover: 0.875%
Break-even: 89.0 days

Slippage from Phemex: live order book, 6 min ago; Lighter RH: live order book, 5 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, 6 min ago	1.03 bp	43.1 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 5 min ago	1.33 bp	1.7 bp −$2	2.8 bp −$28	49.0 bp −$4,901	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	−0.0406%	4h	339.00	−0.016%	$81K	$327K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.99	−0.018%	$122K	$291K	20x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.04	−0.003%	$6.0M	$39.2M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.01	−0.012%	$6.5M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.83	−0.065%	$3.0M	$4.2M	100x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.03	−0.006%	$580	$4.8M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.14	+0.027%	$53K	$224K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	339.05	long leg	$2.1M	$7K	10x
GRVT AAPL_USDT_Perp	+0.0023%	8h	339.04	−0.003%	$14K	$498K	10x	as long as short
Lighter RH AAPLshort	+0.0032%	1h	338.96	−0.027%	$964K	$3.8M	20x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest AAPL-USD-PERP	+0.0046%	1h	338.70	−0.103%	—	$53K	25x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.89	−0.047%	$265K	$394K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.90	−0.044%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.72	−0.097%	$1.4M	$2.4M	20x	as long as short
Lighter AAPL	+0.0064%	1h	338.90	−0.044%	$772K	$2.4M	20x	as long as short
QFEX AAPL-USD	+0.0064%	1h	338.98	−0.021%	$3.2M	$5.1M	10x	as long as short
Bitget AAPLUSDT	+0.0078%	8h	339.00	−0.015%	$6.2M	$3.5M	100x	as long as short
Variational Omni AAPL	+0.0093%	8h	339.04	−0.004%	$2.4M	$1.4M	—	as long as short
Hotstuff AAPL-PERP	+0.0096%	1h	338.90	−0.044%	$36K	—	20x	as long as short
BloFin AAPL-USDT	+0.0096%	8h	339.03	−0.006%	$348K	$170K	20x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.78	−0.080%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.72	−0.097%	$946K	$10.9M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.91	−0.041%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.96	−0.026%	$11K	—	10x	as long as short
Nado AAPL-PERP	+0.0117%	1h	338.79	−0.078%	$557K	$34K	20x	as long as short
Binance AAPLUSDT	+0.0119%	8h	339.04	−0.003%	$22.4M	$67.0M	25x	as long as short
Extended AAPL_24_5-USD	+0.0120%	1h	338.98	−0.022%	$285K	$1.5M	10x	as long as short
tradeXYZ xyz:AAPL	+0.0183%	1h	338.90	−0.044%	$40.8M	$76.3M	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0192%	1h	339.03	−0.006%	$660K	$676K	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.41	+0.106%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0330%	1h	339.00	−0.015%	$5K	$8K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	+0.0370%	1h	338.96	−0.027%	$28K	$66K	10x	as long as short
Arcus AAPL-USD	+0.0397%	1h	338.87	−0.053%	$269K	$70K	20x	as long as short