Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against Phemex−0.074%7-day average −0.105% · you buy dearer than you sell

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

Long on Phemex Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 3 days (all we have)−0.009%−$1 · spread now −0.074%, 7d avg −0.105%

Together, before fees+0.102%+ Points / potential airdropOndo Perps: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.031% dearer against Phemex than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAPLUSDT	338.76	0	get 0.0000% / 4h	3h 22m	$2.1M	$6K	10x
Short	Ondo Perps AAPL-USD.P	338.51	0.0050	get 0.0006% / 1h	22m 38s	$1.4M	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.074%Rate

Funding earned: $10.58
Price spread: −0.074% → −0.105%: $3.14
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$3.27
Costs to cover: 0.170%
Break-even: 9.2 days

Slippage unknown: Phemex: live order book, 6 min ago; Ondo Perps: 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, 6 min ago	1.18 bp	41.7 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	−0.0622%	4h	338.78	+0.005%	$81K	$325K	20x	as long as short
Nado AAPL-PERP	−0.0017%	1h	338.54	−0.065%	$554K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.78	+0.006%	$122K	$291K	20x	as long as short
Bybit AAPLUSDT	0.0000%	8h	338.74	−0.006%	$6.0M	$39.3M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.74	−0.006%	$6.4M	$6.6M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.52	−0.071%	$3.0M	$4.2M	100x	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.87	+0.034%	$17K	$489K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.71	−0.015%	$491	$4.7M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	338.82	+0.018%	$52K	$225K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	338.76	long leg	$2.1M	$6K	10x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff AAPL-PERP	+0.0024%	1h	338.65	−0.032%	$36K	—	20x	as long as short
Bitget AAPLUSDT	+0.0029%	8h	338.74	−0.006%	$6.2M	$3.4M	100x	as long as short
Lighter AAPL	+0.0032%	1h	338.63	−0.037%	$770K	$2.3M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.69	−0.021%	$956K	$3.6M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	+0.0045%	1h	338.63	−0.038%	$28K	$66K	10x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.40	−0.106%	—	$47K	25x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	338.66	−0.030%	$40.8M	$75.8M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.49	−0.080%	$263K	$396K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.62	−0.041%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.Pshort	+0.0050%	1h	338.51	−0.074%	$1.4M	$2.4M	20x
QFEX AAPL-USD	+0.0059%	1h	338.67	−0.027%	$3.2M	$5.0M	10x	as long as short
Variational Omni AAPL	+0.0083%	8h	338.82	+0.019%	$2.4M	$1.4M	—	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.61	−0.044%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.63	−0.038%	$946K	$10.9M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.66	−0.030%	$4K	—	10x	as long as short
Extended AAPL_24_5-USD	+0.0104%	1h	338.69	−0.020%	$286K	$2.2M	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.65	−0.033%	$10K	—	10x	as long as short
Binance AAPLUSDT	+0.0106%	8h	338.74	−0.006%	$22.2M	$66.7M	25x	as long as short
BloFin AAPL-USDT	+0.0126%	8h	338.83	+0.021%	$347K	$169K	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0184%	1h	338.61	−0.044%	$655K	$667K	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.58	−0.053%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0330%	1h	338.90	+0.041%	$5K	$11K	20x	as long as short
Arcus AAPL-USD	+0.0406%	1h	338.69	−0.021%	$269K	$70K	20x	as long as short