Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against SoDEX+0.080%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Phemex

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—needs both histories

The price spread pays, funding is against you. Phemex is 0.080% dearer against SoDEX than usual: you sell high and buy low (spread +0.080% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX AAPL-USD	338.63	0.0050	pay 0.0006% / 1h	23m 40s	$75K	$3K	10x
Short	Phemex AAPLUSDT	338.90	0	get 0.0000% / 4h	3h 23m	$2.1M	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SoDEX. 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 SoDEXbpFee PhemexbpOrdersPrice spread, now +0.080%Rate

Funding earned: −$10.5
Price spread: +0.080% → 0.000%: $7.97
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$22.53
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Phemex: live order book, 5 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 SoDEX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	1.18 bp	34.3 bp −$34	doesn't fit	doesn't fit	doesn't fit

SoDEX: 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	−0.0365%	4h	338.80	+0.050%	$81K	$325K	20x	as long as short
Nado AAPL-PERP	−0.0018%	1h	338.60	−0.010%	$554K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	338.80	+0.052%	$122K	$291K	20x	as long as short
Bybit AAPLUSDT	0.0000%	8h	338.74	+0.032%	$6.0M	$39.3M	100x	as long as short
OKX AAPL-USDT-SWAP	0.0000%	8h	338.69	+0.018%	$6.4M	$6.5M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	338.51	−0.035%	$3.0M	$4.2M	100x	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	338.90	+0.081%	$17K	$489K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	338.72	+0.027%	$484	$4.7M	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.63	0.000%	$28K	$66K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	338.84	+0.062%	$52K	$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 AAPLUSDTshort	0.0000%	4h	338.90	+0.080%	$2.1M	$6K	10x
Lighter AAPL	+0.0032%	1h	338.60	−0.010%	$770K	$2.3M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	338.65	+0.006%	$956K	$3.6M	20x	as long as short
Bitget AAPLUSDT	+0.0032%	8h	338.75	+0.035%	$6.2M	$3.4M	100x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.48	−0.044%	—	$47K	25x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	338.63	0.000%	$40.8M	$75.8M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	338.53	−0.030%	$263K	$396K	10x	as long as short
SoDEX AAPL-USDlong	+0.0050%	1h	338.63	long leg	$75K	$3K	10x
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.51	−0.035%	$1.4M	$2.5M	20x	as long as short
Hotstuff AAPL-PERP	+0.0056%	1h	338.59	−0.012%	$36K	—	20x	as long as short
QFEX AAPL-USD	+0.0059%	1h	338.63	0.000%	$3.2M	$5.0M	10x	as long as short
Variational Omni AAPL	+0.0083%	8h	338.82	+0.058%	$2.4M	$1.4M	—	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	338.61	−0.006%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.63	0.000%	$946K	$10.9M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	338.71	+0.024%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	338.66	+0.009%	$10K	—	10x	as long as short
Binance AAPLUSDT	+0.0106%	8h	338.73	+0.030%	$22.2M	$66.8M	25x	as long as short
Extended AAPL_24_5-USD	+0.0112%	1h	338.65	+0.007%	$286K	$2.3M	10x	as long as short
BloFin AAPL-USDT	+0.0115%	8h	338.82	+0.056%	$346K	$169K	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0184%	1h	338.61	−0.006%	$655K	$667K	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.58	−0.015%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0330%	1h	338.90	+0.080%	$5K	$11K	20x	as long as short
Arcus AAPL-USD	+0.0406%	1h	338.72	+0.027%	$269K	$70K	20x	as long as short