Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0014%/8h= −1.6% APRpaid last 24h −0.007%

Price spread now: QFEX against BloFin−0.097%99s7-day average −0.022% · 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—prices read too far apart to compare

costs, in and out, $10k−$240.244% of the position

Long on BloFin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.098%−$10 on $10k

Price spread, last 4 days (all we have)+0.133%+$13 · spread now −0.097%, 7d avg −0.022%

Together, before fees+0.034%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and QFEX is 0.075% cheaper against BloFin than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.022%). Swap the legs. The two prices were read 99 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	BloFin AAPL-USDT	340.38	0.0024	pay 0.0024% / 8h	7h 37m	$345K	$166K	20x
Short	QFEX AAPL-USD	340.05	0.0010	get 0.0001% / 1h	37m 23s	$3.2M	$4.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against BloFin. 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 BloFinbpFee QFEXbpOrdersPrice spread, now −0.097%Rate

Funding earned: −$2.99
Price spread: −0.097% → −0.022%: −$7.45
Slippage, 4 orders: −$2.35
Fee BloFin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$34.8
Costs to cover: 0.244%
Break-even: never at this rate

Slippage from BloFin: live order book, 38 min ago; QFEX: 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 BloFin live order book, 38 min ago	0.15 bp	6.1 bp −$6	8.0 bp −$80	11.3 bp −$1,132	doesn't fit
Sell QFEX live order book, 6 min ago	1.03 bp	6.0 bp −$6	6.0 bp −$60	10.1 bp −$1,013	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
Nado AAPL-PERP	−0.0018%	1h	339.97	−0.120%	$556K	$36K	20x	as long as short
edgeX AAPLUSDC	−0.0011%	4h	340.24	−0.043%	$81K	$326K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	340.03	−0.102%	$121K	$294K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	340.08	−0.088%	$285K	$2.1M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	340.16	−0.065%	$22.2M	$67.3M	25x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	340.17	−0.062%	$6.3M	$7.0M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	339.99	−0.115%	$3.0M	$5.7M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	340.17	−0.062%	$6.2M	$3.5M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	340.07	−0.090%	$2.5M	$1.2M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	340.34	−0.012%	$13K	$350K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX AAPL-USDT	0.0000%	8h	340.22	−0.047%	$555	$4.3M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	340.05	−0.097%	$28K	$69K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	340.34	−0.012%	$62K	$245K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	340.25	−0.038%	$2.1M	$7K	10x	as long as short
QFEX AAPL-USDshort	+0.0010%	1h	340.05	−0.097%	$3.2M	$4.2M	10x
BloFin AAPL-USDTlong	+0.0024%	8h	340.38	long leg	$345K	$166K	20x
Hotstuff AAPL-PERP	+0.0024%	1h	340.01	−0.109%	$36K	—	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0024%	1h	340.14	−0.071%	$662K	$660K	10x	as long as short
Lighter AAPL	+0.0032%	1h	340.10	−0.082%	$932K	$2.6M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	340.08	−0.088%	$968K	$3.2M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	340.09	−0.085%	$267K	$60K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.92	−0.135%	—	$45K	25x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.88	−0.147%	$279K	$350K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	340.06	−0.094%	$76K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	340.00	−0.112%	$1.3M	$2.3M	20x	as long as short
tradeXYZ xyz:AAPL	+0.0065%	1h	339.99	−0.115%	$40.4M	$76.6M	20x	as long as short
Bybit AAPLUSDT	+0.0085%	8h	340.22	−0.047%	$7.0M	$188.6M	100x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	340.02	−0.106%	$1.4M	$76K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	339.97	−0.120%	$950K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	340.09	−0.085%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	340.06	−0.095%	$11K	$102	10x	as long as short
Phoenix AAPL	+0.0212%	1h	340.16	−0.065%	$5K	$12K	20x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	340.80	+0.123%	$192K	$44K	30x	as long as short