Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%

Price spread now: Bybit against Injective+0.086%7-day average −0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.461%−$46 on $10k

Price spread, last 3 days (all we have)+0.009%+$1 · spread now +0.086%, 7d avg −0.079%

Together, before fees−0.451%−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.165% dearer against Injective than usual: you sell high and buy low (spread +0.086% now, against its 7-day average of −0.079%): +$16 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AAPL/USDC PERP	338.65	0.0220	pay 0.0028% / 1h	29m 11s	$191K	$44K	30x
Short	Bybit AAPLUSDT	338.94	0	get 0.0000% / 8h	7h 29m	$6.0M	$39.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. 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 InjectivebpFee BybitbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$46.2
Price spread: +0.086% → −0.079%: $16.49
Slippage, 4 orders: −$21.56
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$62.29
Costs to cover: 0.326%
Break-even: never at this rate

Slippage from Injective: live order book, 45 min ago; Bybit: 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 Injective live order book, 45 min ago	10.03 bp	10.0 bp −$10	10.0 bp −$100	57594.1 bp −$5.76M	327969.7 bp −$163.98M
Sell Bybit live order book, 5 min ago	0.15 bp	6.1 bp −$6	9.3 bp −$93	33.2 bp −$3,317	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	−0.0418%	4h	338.85	+0.060%	$81K	$327K	20x	as long as short
Hotstuff AAPL-PERP	−0.0056%	1h	338.80	+0.044%	$36K	—	20x	as long as short
Nado AAPL-PERP	−0.0018%	1h	338.72	+0.022%	$554K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.95	+0.089%	$122K	$291K	20x	as long as short
Bybit AAPLUSDTshort	0.0000%	8h	338.94	+0.086%	$6.0M	$39.3M	100x
OKX AAPL-USDT-SWAP	0.0000%	8h	338.90	+0.074%	$6.4M	$6.5M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.73	+0.024%	$3.0M	$4.2M	100x	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.93	+0.083%	$13K	$479K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.97	+0.094%	$691	$4.7M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.76	+0.032%	$28K	$66K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX AAPL-USDT	0.0000%	8h	339.12	+0.139%	$53K	$224K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	338.94	+0.086%	$2.1M	$6K	10x	as long as short
Lighter AAPL	+0.0032%	1h	338.79	+0.043%	$771K	$2.3M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.84	+0.056%	$957K	$3.6M	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.61	−0.012%	—	$52K	25x	as long as short
Bitget AAPLUSDT	+0.0047%	8h	338.95	+0.089%	$6.2M	$3.4M	100x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	338.82	+0.050%	$40.8M	$75.9M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.68	+0.009%	$263K	$396K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.81	+0.047%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.60	−0.015%	$1.4M	$2.5M	20x	as long as short
QFEX AAPL-USD	+0.0059%	1h	338.87	+0.065%	$3.2M	$5.1M	10x	as long as short
Variational Omni AAPL	+0.0087%	8h	338.90	+0.075%	$2.4M	$1.4M	—	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.64	−0.003%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.68	+0.009%	$946K	$10.9M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.84	+0.056%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.85	+0.059%	$11K	—	10x	as long as short
BloFin AAPL-USDT	+0.0111%	8h	338.99	+0.100%	$347K	$169K	20x	as long as short
Binance AAPLUSDT	+0.0111%	8h	338.99	+0.100%	$22.2M	$66.7M	25x	as long as short
Extended AAPL_24_5-USD	+0.0112%	1h	338.92	+0.079%	$286K	$2.4M	10x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0184%	1h	338.77	+0.035%	$659K	$662K	10x	as long as short
Injective AAPL/USDC PERPlong	+0.0220%	1h	338.65	long leg	$191K	$44K	30x
Phoenix AAPL	+0.0330%	1h	338.96	+0.092%	$5K	$11K	20x	as long as short
Arcus AAPL-USD	+0.0406%	1h	338.82	+0.050%	$269K	$70K	20x	as long as short