Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h +0.021%

Price spread now: Bybit against Hotstuff+0.035%53s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hotstuff Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Bybit is 0.035% dearer against Hotstuff than usual: you sell high and buy low (spread +0.035% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.5 days. The two prices were read 53 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	Hotstuff AAPL-PERP	338.77	0.0048	pay 0.0006% / 1h	30m 40s	$36K	—	20x
Short	Bybit AAPLUSDT	338.89	0	get 0.0000% / 8h	7h 30m	$6.0M	$39.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hotstuff. 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 HotstuffbpFee BybitbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$10.08
Price spread: +0.035% → 0.000%: $3.54
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$22.54
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.

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 Hotstuff no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	0.15 bp	6.1 bp −$6	9.3 bp −$93	33.2 bp −$3,317	doesn't fit

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0386%	4h	338.84	+0.022%	$81K	$326K	20x	as long as short
Nado AAPL-PERP	−0.0022%	1h	338.71	−0.017%	$556K	$36K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.94	+0.052%	$122K	$291K	20x	as long as short
Bybit AAPLUSDTshort	0.0000%	8h	338.89	+0.035%	$6.0M	$39.3M	100x
OKX AAPL-USDT-SWAP	0.0000%	8h	338.85	+0.024%	$6.4M	$6.5M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.68	−0.027%	$3.0M	$4.2M	100x	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.93	+0.047%	$13K	$479K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.89	+0.035%	$691	$4.7M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.62	−0.044%	$28K	$66K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.00	+0.068%	$53K	$225K	30x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AAPLUSDT	0.0000%	4h	338.93	+0.047%	$2.1M	$6K	10x	as long as short
Lighter AAPL	+0.0032%	1h	338.77	+0.001%	$770K	$2.3M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.82	+0.015%	$957K	$3.6M	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.61	−0.047%	—	$52K	25x	as long as short
Hotstuff AAPL-PERPlong	+0.0048%	1h	338.77	long leg	$36K	—	20x
Bitget AAPLUSDT	+0.0048%	8h	338.92	+0.044%	$6.2M	$3.4M	100x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	338.79	+0.006%	$40.8M	$75.9M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.65	−0.035%	$263K	$396K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.77	0.000%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.57	−0.059%	$1.4M	$2.5M	20x	as long as short
QFEX AAPL-USD	+0.0059%	1h	338.83	+0.018%	$3.2M	$5.1M	10x	as long as short
Variational Omni AAPL	+0.0087%	8h	338.90	+0.040%	$2.4M	$1.4M	—	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.61	−0.047%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.68	−0.027%	$946K	$10.9M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.81	+0.012%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.83	+0.017%	$11K	—	10x	as long as short
Binance AAPLUSDT	+0.0111%	8h	338.90	+0.038%	$22.2M	$66.7M	25x	as long as short
Extended AAPL_24_5-USD	+0.0112%	1h	338.83	+0.017%	$286K	$2.4M	10x	as long as short
BloFin AAPL-USDT	+0.0126%	8h	338.92	+0.044%	$347K	$169K	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0184%	1h	338.77	0.000%	$659K	$663K	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.65	−0.035%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0330%	1h	338.96	+0.056%	$5K	$11K	20x	as long as short
Arcus AAPL-USD	+0.0406%	1h	338.80	+0.009%	$269K	$70K	20x	as long as short