Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Phemex−0.059%7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1081.080% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.100%+$10 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now −0.059%, 7d avg −0.100%

Together, before fees+0.133%+$13 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 Polymarket Perps is 0.041% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAPLUSDT	338.94	0	get 0.0000% / 4h	37m 21s	$2.1M	$7K	10x
Short	Polymarket Perps AAPL-USD	338.74	0.0050	get 0.0006% / 1h	37m 21s	$278K	$420K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now −0.059%Rate

Funding earned: $10.5
Price spread: −0.059% → −0.100%: $4.12
Slippage, 4 orders: −$88.05
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$93.43
Costs to cover: 1.080%
Break-even: 69.3 days

Slippage from Phemex: live order book, 1 min ago; Polymarket Perps: live order book, 20 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, 1 min ago	1.62 bp	45.8 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 20 min ago	2.07 bp	7.5 bp −$8	7.7 bp −$77	9.7 bp −$972	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	−0.0183%	4h	338.86	−0.025%	$81K	$326K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	−0.0134%	1h	338.63	−0.091%	$28K	$67K	10x	as long as short
Nado AAPL-PERP	−0.0019%	1h	338.79	−0.043%	$554K	$38K	20x	as long as short
BloFin AAPL-USDT	−0.0007%	8h	338.92	−0.006%	$341K	$168K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.81	−0.037%	$122K	$290K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	338.85	−0.028%	$286K	$2.0M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	338.93	−0.003%	$22.2M	$67.0M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	338.86	−0.024%	$5.9M	$39.9M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.93	−0.003%	$6.3M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.69	−0.074%	$3.0M	$4.2M	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	339.00	+0.018%	$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
GRVT AAPL_USDT_Perp	0.0000%	8h	338.89	−0.015%	$17K	$425K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.93	−0.003%	$444	$4.6M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.05	+0.032%	$53K	$224K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	338.94	long leg	$2.1M	$7K	10x
QFEX AAPL-USD	+0.0031%	1h	338.87	−0.021%	$3.2M	$4.8M	10x	as long as short
Lighter AAPL	+0.0032%	1h	338.81	−0.039%	$780K	$2.4M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.84	−0.030%	$947K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	338.81	−0.038%	$266K	$67K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.72	−0.065%	—	$45K	25x	as long as short
Hotstuff AAPL-PERP	+0.0048%	1h	338.79	−0.044%	$36K	—	20x	as long as short
Polymarket Perps AAPL-USDshort	+0.0050%	1h	338.74	−0.059%	$278K	$420K	10x
SoDEX AAPL-USD	+0.0050%	1h	338.80	−0.041%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.68	−0.077%	$1.3M	$2.5M	20x	as long as short
tradeXYZ xyz:AAPL	+0.0056%	1h	338.79	−0.044%	$40.5M	$75.9M	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0080%	1h	338.78	−0.047%	$659K	$664K	10x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.81	−0.038%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.76	−0.053%	$946K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.82	−0.035%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.82	−0.034%	$11K	—	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.64	−0.089%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0283%	1h	338.89	−0.015%	$5K	$11K	20x	as long as short