Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0236%/8h= −25.9% APRpaid last 24h −0.037%

Price spread now: Phemex against Phoenix+0.024%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Phemex is 0.024% dearer against Phoenix than usual: you sell high and buy low (spread +0.024% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AAPL	339.26	0.0236	pay 0.0030% / 1h	6m 36s	$5K	$11K	20x
Short	Phemex AAPLUSDT	339.34	0	get 0.0000% / 4h	3h 06m	$2.1M	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Phoenix. 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 PhoenixbpFee PhemexbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$49.59
Price spread: +0.024% → 0.000%: $2.36
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$66.23
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Phemex: live order book, 2 min ago. 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 Phoenix no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	1.47 bp	47.8 bp −$48	doesn't fit	doesn't fit	doesn't fit

Phoenix: 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	−0.0405%	4h	339.17	−0.027%	$81K	$327K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	−0.0104%	1h	339.04	−0.065%	$28K	$67K	10x	as long as short
Nado AAPL-PERP	−0.0097%	1h	339.24	−0.007%	$555K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.21	−0.015%	$121K	$292K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.17	−0.026%	$283K	$1.5M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.26	0.000%	$22.0M	$67.1M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.18	−0.024%	$5.8M	$71.4M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.26	0.000%	$6.3M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.97	−0.085%	$3.0M	$4.5M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.28	+0.006%	$6.2M	$3.5M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AAPL	0.0000%	8h	339.27	+0.004%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.29	+0.008%	$16K	$411K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.24	−0.006%	$784	$4.6M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.36	+0.029%	$53K	$225K	30x	as long as short
Phemex AAPLUSDTshort	0.0000%	4h	339.34	+0.024%	$2.1M	$7K	10x
BloFin AAPL-USDT	+0.0027%	8h	339.26	0.000%	$340K	$168K	20x	as long as short
QFEX AAPL-USD	+0.0030%	1h	339.14	−0.035%	$3.2M	$4.4M	10x	as long as short
Lighter AAPL	+0.0032%	1h	339.15	−0.033%	$803K	$2.5M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.16	−0.029%	$939K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.07	−0.056%	$266K	$61K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.08	−0.053%	—	$45K	25x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	339.15	−0.032%	$40.5M	$76.1M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.10	−0.047%	$277K	$408K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.13	−0.038%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.91	−0.103%	$1.3M	$2.5M	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0096%	1h	339.12	−0.041%	$661K	$656K	10x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	339.24	−0.006%	$1.4M	$38K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	339.20	−0.018%	$947K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.12	−0.041%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.15	−0.033%	$11K	—	10x	as long as short
Hotstuff AAPL-PERP	+0.0120%	1h	339.15	−0.032%	$36K	—	20x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.05	−0.062%	$191K	$44K	30x	as long as short
Phoenix AAPLlong	+0.0236%	1h	339.26	long leg	$5K	$11K	20x