Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0057%/8h= +6.2% APRpaid last 24h +0.004%

Price spread now: tradeXYZ against Phemex−0.009%7-day average −0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1081.077% of the position

Long on Phemex Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 3 days (all we have)−0.102%−$10 · spread now −0.009%, 7d avg −0.105%

Together, before fees−0.128%+ Points / potential airdroptradeXYZ: Active · farm board−$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 tradeXYZ is 0.096% dearer against Phemex than usual: you sell high and buy low: +$10 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	339.24	0	get 0.0000% / 4h	2h 12m	$2.1M	$6K	10x
Short	tradeXYZ xyz:AAPL	339.21	0.0057	get 0.0007% / 1h	12m 59s	$40.8M	$75.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.009%Rate

Funding earned: $11.95
Price spread: −0.009% → −0.105%: $9.64
Slippage, 4 orders: −$77.73
Fee Phemex: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$86.14
Costs to cover: 1.077%
Break-even: 57.4 days

Slippage from Phemex: live order book, 5 min ago; tradeXYZ: live order book, 7 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	1.18 bp	38.2 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 7 min ago	0.15 bp	9.6 bp −$10	12.3 bp −$123	doesn't fit	doesn't fit

AAPL on 32 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	−0.0903%	4h	339.17	−0.020%	$81K	$328K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	−0.0104%	1h	338.98	−0.077%	$28K	$67K	10x	as long as short
Nado AAPL-PERP	−0.0084%	1h	339.22	−0.007%	$555K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.19	−0.014%	$122K	$291K	20x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.29	+0.015%	$6.0M	$39.2M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.28	+0.012%	$6.3M	$6.7M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	339.04	−0.059%	$3.0M	$4.2M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.25	+0.003%	$6.2M	$3.5M	100x	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.18	−0.018%	$17K	$433K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.24	0.000%	$658	$4.7M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX AAPL-USDT	0.0000%	8h	339.39	+0.044%	$53K	$225K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	339.24	long leg	$2.1M	$6K	10x
Variational Omni AAPL	+0.0002%	8h	339.24	−0.001%	$2.4M	$1.4M	—	as long as short
Hotstuff AAPL-PERP	+0.0008%	1h	339.20	−0.012%	$36K	—	20x	as long as short
QFEX AAPL-USD	+0.0028%	1h	339.13	−0.032%	$3.2M	$4.9M	10x	as long as short
Binance AAPLUSDT	+0.0031%	8h	339.23	−0.004%	$22.3M	$66.8M	25x	as long as short
Lighter AAPL	+0.0032%	1h	339.10	−0.042%	$781K	$2.3M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.15	−0.027%	$950K	$3.5M	20x	as long as short
Extended AAPL_24_5-USD	+0.0032%	1h	339.14	−0.030%	$288K	$2.0M	10x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.10	−0.041%	$270K	$70K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.09	−0.044%	—	$45K	25x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.97	−0.080%	$262K	$396K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.20	−0.012%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	339.00	−0.071%	$1.4M	$2.5M	20x	as long as short
tradeXYZ xyz:AAPLshort	+0.0057%	1h	339.21	−0.009%	$40.8M	$75.7M	20x
KuCoin AAPLUSDTM	+0.0100%	8h	339.07	−0.050%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	339.06	−0.053%	$947K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.09	−0.044%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.14	−0.031%	$11K	—	10x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0136%	1h	338.51	−0.215%	$655K	$664K	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.06	−0.053%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0236%	1h	339.35	+0.032%	$5K	$11K	20x	as long as short