Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.042%

Price spread now: Phoenix against OKX+0.047%116s7-day average — · you sell dearer than you buy

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

Long on OKX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.047% dearer against OKX than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 116 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	OKX AAPL-USDT-SWAP	339.59	0	get 0.0000% / 8h	1h 15m	$6.3M	$6.9M	25x
Short	Phoenix AAPL	339.75	0.0212	get 0.0026% / 1h	15m 35s	$5K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against OKX. 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 OKXbpFee PhoenixbpOrdersPrice spread, now +0.047%Rate

Funding earned: $44.5
Price spread: +0.047% → 0.000%: $4.71
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $32.21
Costs to cover: 0.170%
Break-even: 1.9 days

Slippage unknown: OKX: live order book, 2 min ago; Phoenix: no order-book sample. 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 OKX live order book, 2 min ago	0.15 bp	6.9 bp −$7	11.4 bp −$114	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	−0.0170%	4h	339.53	−0.016%	$81K	$328K	20x	as long as short
Nado AAPL-PERP	−0.0050%	1h	339.42	−0.050%	$555K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.47	−0.035%	$121K	$292K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.49	−0.031%	$285K	$1.8M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.59	0.000%	$22.1M	$67.7M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.62	+0.009%	$6.0M	$123.1M	100x	as long as short
OKX AAPL-USDT-SWAPlong	0.0000%	8h	339.59	long leg	$6.3M	$6.9M	25x
Hotstuff AAPL-PERP	0.0000%	1h	339.51	−0.024%	$36K	—	20x	as long as short
Gate AAPL_USDT	0.0000%	8h	339.34	−0.074%	$3.0M	$5.2M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.62	+0.009%	$6.2M	$3.5M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AAPL	0.0000%	8h	339.60	+0.001%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.57	−0.007%	$16K	$402K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.58	−0.003%	$652	$4.6M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	339.43	−0.047%	$28K	$69K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.66	+0.021%	$62K	$245K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	339.60	+0.003%	$2.1M	$7K	10x	as long as short
QFEX AAPL-USD	+0.0023%	1h	339.45	−0.041%	$3.3M	$4.3M	10x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0024%	1h	339.55	−0.012%	$660K	$668K	10x	as long as short
BloFin AAPL-USDT	+0.0029%	8h	339.60	+0.003%	$341K	$169K	20x	as long as short
Lighter AAPL	+0.0032%	1h	339.51	−0.024%	$944K	$2.7M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.51	−0.024%	$944K	$3.6M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.49	−0.029%	$267K	$60K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.34	−0.074%	—	$45K	25x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.46	−0.038%	$279K	$424K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.53	−0.018%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	339.26	−0.097%	$1.3M	$2.4M	20x	as long as short
tradeXYZ xyz:AAPL	+0.0065%	1h	339.52	−0.021%	$40.6M	$76.5M	20x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	339.32	−0.080%	$1.4M	$39K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	339.40	−0.056%	$948K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.41	−0.053%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.44	−0.043%	$11K	$102	10x	as long as short
Phoenix AAPLshort	+0.0212%	1h	339.75	+0.047%	$5K	$12K	20x
Injective AAPL/USDC PERP	+0.0220%	1h	339.32	−0.080%	$191K	$44K	30x	as long as short