Funding you earn now, next payment 01:00 UTC−0.0136%/8h= −14.9% APRpaid last 24h −0.015%
Price spread now: Phemex against Coinbase International+0.204%7-day average +0.079% · you sell dearer than you buy
Net, funding: paid 7d − costs−$107as in the Funding arb table
Net, price: spread back to 7d avg − costs−$90as in the Price arb table
costs, in and out, $10k−$1021.023% of the position
Funding, last 7 days−0.046%−$5 on $10k
+Price spread, last 3 days (all we have)−0.193%−$19 · spread now +0.204%, 7d avg +0.079%
=The price spread pays, funding is against you. Phemex is 0.125% dearer against Coinbase International than usual: you sell high and buy low (spread +0.204% now, against its 7-day average of +0.079%): +$12 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.1 days. At the pace of the last 7 days (−0.046% in total) that is about 19 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International AAPL-PERP-INTX | 338.51 | 0.0136 | pay 0.0017% / 1h | 17m 41s | $655K | $665K | 10x |
| Short | Phemex AAPLUSDT | 339.20 | 0 | get 0.0000% / 4h | 2h 17m | $2.1M | $6K | 10x |
Coinbase International AAPL-PERP-INTX
Phemex AAPLUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Coinbase International. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$28.56
- Price spread: +0.204% → +0.079%
- $12.48
- Slippage, 4 orders
- −$80.33
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$118.41
- Costs to cover
- 1.023%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 51 min ago; Phemex: 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 Coinbase International live order book, 51 min ago | 1.77 bp | 7.6 bp −$8 | 10.9 bp −$109 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 6 min ago | 1.62 bp | 50.0 bp −$50 | 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 | −0.0672% | 4h | 339.13 | +0.182% | $81K | $326K | 20x | as long as short |
| Deribit AAPL_USDC-PERPETUAL | −0.0251% | 1h | 339.03 | +0.154% | $28K | $67K | 10x | as long as short |
| Nado AAPL-PERP | −0.0079% | 1h | 339.26 | +0.222% | $555K | $38K | 20x | as long as short |
| Aster AAPLUSDT | 0.0000% | 8h | 339.21 | +0.205% | $122K | $291K | 20x | as long as short |
| Bybit AAPLUSDT | 0.0000% | 8h | 339.31 | +0.236% | $6.0M | $39.3M | 100x | as long as short |
| OKX AAPL-USDT-SWAP | 0.0000% | 8h | 339.26 | +0.222% | $6.3M | $6.7M | 25x | as long as short |
| Gate AAPL_USDT | 0.0000% | 8h | 339.08 | +0.168% | $3.0M | $4.2M | 100x | as long as short |
| Bitget AAPLUSDT | 0.0000% | 8h | 339.28 | +0.227% | $6.2M | $3.5M | 100x | as long as short |
| GRVT AAPL_USDT_Perp | 0.0000% | 8h | 339.06 | +0.164% | $17K | $433K | 10x | as long as short |
| SunX AAPL-USDT | 0.0000% | 8h | 339.25 | +0.219% | $451 | $4.7M | 20x | as long as short |
edgeX AAPLUSDC
Deribit AAPL_USDC-PERPETUAL
Nado AAPL-PERP
Aster AAPLUSDT
Bybit AAPLUSDT
OKX AAPL-USDT-SWAP
Gate AAPL_USDT
Bitget AAPLUSDT
GRVT AAPL_USDT_Perp
SunX AAPL-USDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX AAPL-USDT | 0.0000% | 8h | 339.35 | +0.248% | $53K | $225K | 30x | as long as short |
| Phemex AAPLUSDTshort | 0.0000% | 4h | 339.20 | +0.204% | $2.1M | $6K | 10x | |
| Variational Omni AAPL | +0.0012% | 8h | 339.19 | +0.199% | $2.4M | $1.4M | — | as long as short |
| QFEX AAPL-USD | +0.0028% | 1h | 339.13 | +0.183% | $3.2M | $4.9M | 10x | as long as short |
| Lighter AAPL | +0.0032% | 1h | 339.16 | +0.192% | $743K | $2.3M | 20x | as long as short |
| Lighter RH AAPL | +0.0032% | 1h | 339.19 | +0.201% | $950K | $3.5M | 20x | as long as short |
| Binance AAPLUSDT | +0.0038% | 8h | 339.27 | +0.225% | $22.3M | $66.8M | 25x | as long as short |
| Extended AAPL_24_5-USD | +0.0040% | 1h | 339.18 | +0.198% | $288K | $2.0M | 10x | as long as short |
| Hotstuff AAPL-PERP | +0.0040% | 1h | 339.17 | +0.195% | $36K | — | 20x | as long as short |
| Arcus AAPL-USD | +0.0040% | 1h | 339.06 | +0.162% | $270K | $70K | 20x | as long as short |
| Vest AAPL-USD-PERP | +0.0046% | 1h | 339.12 | +0.180% | — | $45K | 25x | as long as short |
| Polymarket Perps AAPL-USD | +0.0050% | 1h | 338.96 | +0.133% | $262K | $396K | 10x | as long as short |
| SoDEX AAPL-USD | +0.0050% | 1h | 339.22 | +0.210% | $75K | $3K | 10x | as long as short |
| Ondo Perps AAPL-USD.P | +0.0050% | 1h | 338.98 | +0.139% | $1.4M | $2.5M | 20x | as long as short |
| tradeXYZ xyz:AAPL | +0.0056% | 1h | 339.17 | +0.195% | $40.8M | $75.7M | 20x | as long as short |
| KuCoin AAPLUSDTM | +0.0100% | 8h | 339.04 | +0.157% | $1.4M | $27K | 20x | as long as short |
| ApeX Omni AAPLUSDT | +0.0100% | 1h | 339.08 | +0.168% | $947K | $11.0M | 50x | as long as short |
| Orderly PERP_AAPL_USDC_mythos | +0.0100% | 8h | 339.13 | +0.183% | $4K | — | 10x | as long as short |
| Aevo AAPL-PERP | +0.0104% | 1h | 339.15 | +0.188% | $11K | — | 10x | as long as short |
| Coinbase International AAPL-PERP-INTXlong | +0.0136% | 1h | 338.51 | long leg | $655K | $665K | 10x | |
| Injective AAPL/USDC PERP | +0.0220% | 1h | 338.92 | +0.121% | $191K | $44K | 30x | as long as short |
| Phoenix AAPL | +0.0236% | 1h | 339.21 | +0.207% | $5K | $11K | 20x | as long as short |
HTX AAPL-USDT
Variational Omni AAPL
QFEX AAPL-USD
Lighter AAPL
Lighter RH AAPL
Binance AAPLUSDT
Extended AAPL_24_5-USD
Hotstuff AAPL-PERP
Arcus AAPL-USD
Vest AAPL-USD-PERP
Polymarket Perps AAPL-USD
SoDEX AAPL-USD
Ondo Perps AAPL-USD.P
tradeXYZ xyz:AAPL
KuCoin AAPLUSDTM
ApeX Omni AAPLUSDT
Orderly PERP_AAPL_USDC_mythos
Aevo AAPL-PERP
Injective AAPL/USDC PERP
Phoenix AAPL