Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Phemex against ApeX Omni+0.024%77s7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$950.950% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.209%−$21 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now +0.024%, 7d avg +0.063%

Together, before fees−0.188%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phemex is 0.040% cheaper against ApeX Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.063%). Swap the legs. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni AAPLUSDT	339.78	0.0100	pay 0.0013% / 1h	24m 15s	$949K	$11.0M	50x
Short	Phemex AAPLUSDT	339.86	0	get 0.0000% / 4h	2h 24m	$2.1M	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against ApeX Omni. 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 ApeX OmnibpFee PhemexbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$21
Price spread: +0.024% → +0.063%: −$3.97
Slippage, 4 orders: −$73
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$119.97
Costs to cover: 0.950%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 5 min ago; Phemex: live order book, 4 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 ApeX Omni live order book, 5 min ago	3.68 bp	8.7 bp −$9	12.0 bp −$120	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	2.06 bp	38.5 bp −$39	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	−0.0812%	4h	339.76	−0.005%	$81K	$326K	20x	as long as short
Nado AAPL-PERP	−0.0115%	1h	339.87	+0.027%	$556K	$38K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	−0.0074%	1h	339.71	−0.021%	$28K	$68K	10x	as long as short
BloFin AAPL-USDT	−0.0018%	8h	339.84	+0.018%	$340K	$168K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.80	+0.006%	$121K	$292K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.79	+0.004%	$285K	$1.8M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.88	+0.030%	$22.0M	$67.6M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.87	+0.026%	$5.9M	$89.5M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.91	+0.038%	$6.3M	$6.9M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	339.66	−0.035%	$3.0M	$4.8M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AAPLUSDT	0.0000%	8h	339.96	+0.053%	$6.3M	$3.5M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.83	+0.016%	$2.4M	$1.3M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.63	−0.044%	$16K	$411K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.86	+0.024%	$435	$4.6M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.98	+0.059%	$53K	$225K	30x	as long as short
Phemex AAPLUSDTshort	0.0000%	4h	339.86	+0.024%	$2.1M	$7K	10x
Hotstuff AAPL-PERP	+0.0016%	1h	339.77	−0.003%	$36K	—	20x	as long as short
QFEX AAPL-USD	+0.0020%	1h	339.76	−0.006%	$3.2M	$4.4M	10x	as long as short
Lighter AAPL	+0.0032%	1h	339.78	−0.001%	$861K	$2.6M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.74	−0.012%	$941K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.59	−0.056%	$267K	$60K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.75	−0.009%	—	$45K	25x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0048%	1h	339.56	−0.065%	$663K	$655K	10x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	339.74	−0.012%	$40.5M	$76.5M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.68	−0.029%	$278K	$408K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.81	+0.009%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	339.62	−0.047%	$1.3M	$2.5M	20x	as long as short
KuCoin AAPLUSDTM	+0.0099%	8h	339.45	−0.097%	$1.4M	$38K	20x	as long as short
ApeX Omni AAPLUSDTlong	+0.0100%	1h	339.78	long leg	$949K	$11.0M	50x
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.74	−0.012%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.77	−0.004%	$11K	$102	10x	as long as short
Phoenix AAPL	+0.0212%	1h	339.89	+0.032%	$5K	$11K	20x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.68	−0.029%	$191K	$44K	30x	as long as short