Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0087%/8h= +9.5% APRpaid last 24h −0.031%

Price spread now: KuCoin against QFEX−0.009%7-day average −0.032% · 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−$204as in the Price arb table

costs, in and out, $10k−$2072.065% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.052%−$5 on $10k

Price spread, last 7 days−0.022%−$2 · spread now −0.009%, 7d avg −0.032%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.024% dearer against QFEX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.032%. Mind the row above: over the last 4 days funding on this pair cost −0.052%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX AAPL-USD	339.05	0.0013	pay 0.0002% / 1h	49m 52s	$3.3M	$4.9M	10x
Short	KuCoin AAPLUSDTM	339.02	0.0100	get 0.0100% / 8h	5h 49m	$1.4M	$27K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against QFEX. 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 QFEXbpFee KuCoinbpOrdersPrice spread, now −0.009%Rate

Funding earned: $18.23
Price spread: −0.009% → −0.032%: $2.36
Slippage, 4 orders: −$184.54
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$185.96
Costs to cover: 2.065%
Break-even: 78.4 days

Slippage from QFEX: live order book, 4 min ago; KuCoin: 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 QFEX live order book, 4 min ago	1.33 bp	6.3 bp −$6	6.3 bp −$63	12.0 bp −$1,196	doesn't fit
Sell KuCoin live order book, 6 min ago	23.48 bp	82.3 bp −$82	doesn't fit	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	−0.0552%	4h	339.08	+0.008%	$81K	$326K	20x	as long as short
Nado AAPL-PERP	−0.0083%	1h	339.00	−0.015%	$555K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.99	−0.018%	$122K	$291K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.04	−0.004%	$285K	$2.0M	10x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.08	+0.009%	$6.0M	$39.1M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.16	+0.032%	$6.3M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.88	−0.050%	$3.0M	$4.2M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.18	+0.038%	$6.2M	$3.5M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.13	+0.025%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.17	+0.035%	$17K	$433K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX AAPL-USDT	0.0000%	8h	339.13	+0.024%	$519	$4.7M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.94	−0.032%	$28K	$67K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.26	+0.062%	$53K	$225K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	339.17	+0.035%	$2.1M	$6K	10x	as long as short
Binance AAPLUSDT	+0.0003%	8h	339.10	+0.015%	$22.3M	$67.0M	25x	as long as short
QFEX AAPL-USDlong	+0.0013%	1h	339.05	long leg	$3.3M	$4.9M	10x
Lighter AAPL	+0.0032%	1h	338.93	−0.037%	$755K	$2.4M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.98	−0.021%	$951K	$3.5M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.02	−0.009%	$270K	$70K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.94	−0.032%	—	$45K	25x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0048%	1h	338.98	−0.021%	$656K	$664K	10x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	338.96	−0.027%	$40.7M	$75.8M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.86	−0.056%	$262K	$371K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.04	−0.003%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.87	−0.053%	$1.3M	$2.5M	20x	as long as short
Hotstuff AAPL-PERP	+0.0080%	1h	339.07	+0.006%	$36K	—	20x	as long as short
KuCoin AAPLUSDTMshort	+0.0100%	8h	339.02	−0.009%	$1.4M	$27K	20x
ApeX Omni AAPLUSDT	+0.0100%	1h	338.97	−0.024%	$947K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.01	−0.012%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.97	−0.023%	$11K	—	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.90	−0.044%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0259%	1h	339.13	+0.024%	$5K	$11K	20x	as long as short