Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0059%/8h= +6.4% APRpaid last 24h +0.007%

Price spread now: QFEX against Phemex−0.021%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$1000.999% of the position

Long on Phemex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.011%+$1 on $10k

Price spread, last 3 days (all we have)+0.003%$0 · spread now −0.021%, 7d avg −0.031%

Together, before fees+0.014%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.031%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAPLUSDT	339.05	0	get 0.0000% / 4h	3h 47m	$2.1M	$6K	10x
Short	QFEX AAPL-USD	338.98	0.0059	get 0.0007% / 1h	47m 09s	$3.2M	$5.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $12.36
Price spread: −0.021% → −0.031%: $1.07
Slippage, 4 orders: −$77.89
Fee Phemex: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$86.46
Costs to cover: 0.999%
Break-even: 55.9 days

Slippage from Phemex: live order book, 1 min ago; QFEX: live order book, 6 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	2.51 bp	46.1 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	1.77 bp	6.8 bp −$7	6.8 bp −$68	12.4 bp −$1,239	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	−0.0743%	4h	339.00	−0.016%	$81K	$327K	20x	as long as short
Nado AAPL-PERP	−0.0049%	1h	338.80	−0.074%	$556K	$36K	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	338.99	−0.018%	$6.0M	$39.4M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.98	−0.021%	$6.5M	$6.6M	25x	as long as short
Hotstuff AAPL-PERP	0.0000%	1h	338.89	−0.047%	$36K	—	20x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.75	−0.088%	$3.0M	$4.2M	100x	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.99	−0.017%	$13K	$479K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.99	−0.018%	$542	$4.7M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.79	−0.077%	$28K	$66K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX AAPL-USDT	0.0000%	8h	339.08	+0.009%	$52K	$225K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	339.05	long leg	$2.1M	$6K	10x
Lighter AAPL	+0.0032%	1h	338.81	−0.070%	$771K	$2.3M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.85	−0.059%	$957K	$3.6M	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.77	−0.083%	—	$53K	25x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	338.86	−0.056%	$40.8M	$76.0M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.83	−0.065%	$264K	$395K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.87	−0.053%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.59	−0.136%	$1.4M	$2.4M	20x	as long as short
QFEX AAPL-USDshort	+0.0059%	1h	338.98	−0.021%	$3.2M	$5.1M	10x
Bitget AAPLUSDT	+0.0077%	8h	338.97	−0.024%	$6.2M	$3.4M	100x	as long as short
Variational Omni AAPL	+0.0098%	8h	339.02	−0.007%	$2.4M	$1.4M	—	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.60	−0.133%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.88	−0.050%	$947K	$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
BloFin AAPL-USDT	+0.0102%	8h	339.00	−0.015%	$346K	$170K	20x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.91	−0.041%	$11K	—	10x	as long as short
Binance AAPLUSDT	+0.0119%	8h	338.96	−0.027%	$22.3M	$66.9M	25x	as long as short
Extended AAPL_24_5-USD	+0.0120%	1h	338.91	−0.040%	$284K	$1.7M	10x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0184%	1h	339.03	−0.006%	$660K	$669K	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.78	−0.080%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0330%	1h	339.06	+0.003%	$5K	$11K	20x	as long as short
Arcus AAPL-USD	+0.0406%	1h	338.89	−0.047%	$269K	$70K	20x	as long as short