Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0075%/8h= +8.2% APRpaid last 24h +0.013%

Price spread now: Binance against Phemex+0.003%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$950.948% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 2 days (all we have)−0.004%$0 · spread now +0.003%, 7d avg −0.012%

Together, before fees+0.009%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.012%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAPLUSDT	338.73	0	get 0.0000% / 4h	3h 01m	$2.1M	$7K	10x
Short	Binance AAPLUSDT	338.74	0.0075	get 0.0075% / 8h	7h 01m	$22.2M	$66.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now +0.003%Rate

Funding earned: $15.65
Price spread: +0.003% → −0.012%: $1.58
Slippage, 4 orders: −$72.84
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$77.62
Costs to cover: 0.948%
Break-even: 41.7 days

Slippage from Phemex: live order book, 1 min ago; Binance: live order book, 11 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 Phemex live order book, 1 min ago	1.03 bp	41.5 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.15 bp	5.7 bp −$6	7.6 bp −$76	27.6 bp −$2,765	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	−0.0342%	4h	338.60	−0.037%	$81K	$326K	20x	as long as short
Nado AAPL-PERP	−0.0035%	1h	338.55	−0.054%	$554K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.65	−0.023%	$122K	$291K	20x	as long as short
Bybit AAPLUSDT	0.0000%	8h	338.78	+0.015%	$6.0M	$39.4M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.76	+0.009%	$6.4M	$6.6M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.50	−0.068%	$3.0M	$4.2M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	338.81	+0.024%	$6.2M	$3.4M	100x	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.66	−0.020%	$17K	$433K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.72	−0.003%	$911	$4.7M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.57	−0.047%	$28K	$67K	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	338.82	+0.027%	$53K	$225K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	338.73	long leg	$2.1M	$7K	10x
Lighter AAPL	+0.0032%	1h	338.52	−0.061%	$744K	$2.3M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.58	−0.044%	$954K	$3.6M	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.44	−0.086%	—	$45K	25x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	338.66	−0.021%	$40.8M	$75.8M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.42	−0.092%	$261K	$397K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	338.62	−0.032%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.42	−0.092%	$1.4M	$2.4M	20x	as long as short
Variational Omni AAPL	+0.0051%	8h	338.68	−0.016%	$2.4M	$1.4M	—	as long as short
QFEX AAPL-USD	+0.0059%	1h	338.61	−0.035%	$3.2M	$5.0M	10x	as long as short
BloFin AAPL-USDT	+0.0065%	8h	338.81	+0.024%	$345K	$169K	20x	as long as short
Extended AAPL_24_5-USD	+0.0072%	1h	338.67	−0.017%	$284K	$2.0M	10x	as long as short
Hotstuff AAPL-PERP	+0.0072%	1h	338.65	−0.024%	$36K	—	20x	as long as short
Binance AAPLUSDTshort	+0.0075%	8h	338.74	+0.003%	$22.2M	$66.7M	25x
KuCoin AAPLUSDTM	+0.0100%	8h	338.63	−0.030%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.56	−0.050%	$946K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.57	−0.047%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.57	−0.046%	$10K	—	10x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0184%	1h	338.51	−0.065%	$655K	$668K	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.50	−0.068%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0330%	1h	338.72	−0.003%	$5K	$11K	20x	as long as short
Arcus AAPL-USD	+0.0406%	1h	338.62	−0.032%	$269K	$70K	20x	as long as short