Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h −0.012%

Price spread now: Hotstuff against Phemex−0.056%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Hotstuff

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

Funding pays, the price is against you. Hotstuff is 0.056% cheaper against Phemex than usual: you would sell low and buy high (spread −0.056% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AAPLUSDT	339.19	0	get 0.0000% / 4h	1h 47m	$2.1M	$7K	10x
Short	Hotstuff AAPL-PERP	339.00	0.0088	get 0.0011% / 1h	47m 17s	$36K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.056%Rate

Funding earned: $18.48
Price spread: −0.056% → 0.000%: −$5.6
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$4.12
Costs to cover: 0.170%
Break-even: 8.6 days

Slippage unknown: Phemex: live order book, 1 min ago; Hotstuff: 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 Phemex live order book, 1 min ago	0.88 bp	43.0 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

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	−0.0903%	4h	339.25	+0.017%	$81K	$326K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.16	−0.008%	$122K	$291K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.07	−0.035%	$284K	$1.5M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.12	−0.021%	$22.3M	$67.5M	25x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.17	−0.006%	$6.1M	$30.9M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	339.05	−0.041%	$6.6M	$6.9M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.87	−0.094%	$3.0M	$4.2M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.11	−0.024%	$6.2M	$3.4M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.29	+0.028%	$2.4M	$1.5M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.22	+0.010%	$14K	$498K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX AAPL-USDT	0.0000%	8h	339.10	−0.027%	$695	$4.8M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.20	+0.003%	$53K	$223K	30x	as long as short
Phemex AAPLUSDTlong	0.0000%	4h	339.19	long leg	$2.1M	$7K	10x
BloFin AAPL-USDT	+0.0018%	8h	339.26	+0.021%	$353K	$168K	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.07	−0.035%	$970K	$3.8M	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.85	−0.100%	—	$53K	25x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.92	−0.080%	$265K	$395K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.00	−0.056%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.70	−0.144%	$1.5M	$2.4M	20x	as long as short
Lighter AAPL	+0.0056%	1h	339.01	−0.053%	$768K	$2.5M	20x	as long as short
QFEX AAPL-USD	+0.0059%	1h	339.04	−0.044%	$3.2M	$5.1M	10x	as long as short
Hotstuff AAPL-PERPshort	+0.0088%	1h	339.00	−0.056%	$36K	—	20x
Nado AAPL-PERP	+0.0097%	1h	338.88	−0.093%	$556K	$35K	20x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.90	−0.085%	$1.4M	$28K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.87	−0.094%	$947K	$10.9M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.00	−0.056%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.05	−0.043%	$11K	—	10x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0184%	1h	338.93	−0.077%	$659K	$675K	10x	as long as short
tradeXYZ xyz:AAPL	+0.0203%	1h	339.00	−0.056%	$40.9M	$77.0M	20x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.66	+0.139%	$191K	$44K	30x	as long as short
Deribit AAPL_USDC-PERPETUAL	+0.0222%	1h	339.02	−0.050%	$28K	$65K	10x	as long as short
Phoenix AAPL	+0.0354%	1h	339.29	+0.029%	$2K	$11K	20x	as long as short
Arcus AAPL-USD	+0.0364%	1h	339.02	−0.050%	$270K	$70K	20x	as long as short