Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0030%/8h= −3.3% APRpaid last 24h −0.007%

Price spread now: Phemex against QFEX+0.035%7-day average +0.031% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$950.952% of the position

Long on QFEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.012%−$1 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now +0.035%, 7d avg +0.031%

Together, before fees−0.025%−$2 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: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX AAPL-USD	339.23	0.0030	pay 0.0004% / 1h	13m 53s	$3.2M	$4.4M	10x
Short	Phemex AAPLUSDT	339.35	0	get 0.0000% / 4h	3h 13m	$2.1M	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$6.35
Price spread: +0.035% → +0.031%: $0.41
Slippage, 4 orders: −$73.16
Fee QFEX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$101.1
Costs to cover: 0.952%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; Phemex: live order book, 5 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, 5 min ago	1.18 bp	6.2 bp −$6	6.4 bp −$64	12.7 bp −$1,274	doesn't fit
Sell Phemex live order book, 5 min ago	1.18 bp	43.9 bp −$44	doesn't fit	doesn't fit	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	−0.0515%	4h	339.26	+0.010%	$81K	$328K	20x	as long as short
Nado AAPL-PERP	−0.0086%	1h	339.32	+0.026%	$555K	$38K	20x	as long as short
BloFin AAPL-USDT	−0.0002%	8h	339.29	+0.018%	$341K	$168K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.29	+0.017%	$121K	$292K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.20	−0.009%	$287K	$1.4M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.30	+0.020%	$21.9M	$67.0M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.30	+0.021%	$5.8M	$70.7M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.33	+0.029%	$6.3M	$6.8M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	339.03	−0.059%	$3.0M	$4.5M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.36	+0.038%	$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	339.31	+0.025%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.29	+0.018%	$16K	$411K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.28	+0.015%	$916	$4.6M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	339.29	+0.018%	$28K	$67K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.40	+0.050%	$52K	$225K	30x	as long as short
Phemex AAPLUSDTshort	0.0000%	4h	339.35	+0.035%	$2.1M	$7K	10x
QFEX AAPL-USDlong	+0.0030%	1h	339.23	long leg	$3.2M	$4.4M	10x
Lighter AAPL	+0.0032%	1h	339.22	−0.003%	$782K	$2.4M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.22	−0.003%	$939K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.12	−0.032%	$266K	$61K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.10	−0.038%	—	$45K	25x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	339.19	−0.012%	$40.5M	$76.1M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.17	−0.018%	$278K	$408K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.21	−0.006%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	339.00	−0.068%	$1.3M	$2.5M	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0096%	1h	338.78	−0.133%	$661K	$655K	10x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	339.29	+0.018%	$1.4M	$38K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	339.20	−0.009%	$947K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.20	−0.009%	$4K	—	10x	as long as short
Hotstuff AAPL-PERP	+0.0104%	1h	339.16	−0.021%	$36K	—	20x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.19	−0.011%	$11K	—	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.09	−0.041%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0236%	1h	339.31	+0.024%	$5K	$11K	20x	as long as short