Funding arb · Price arb /

ATOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h +0.033%

Price spread now: Phemex against Coinbase International−0.331%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Phemex

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

Funding pays, the price is against you. Phemex is 0.331% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.331% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$33 on $10k: about 12 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	Coinbase International ATOM-PERP-INTX	1.8150	0.0008	pay 0.0001% / 1h	32m 59s	$25K	$12K	25x
Short	Phemex ATOMUSDT	1.8090	0.0100	get 0.0100% / 8h	32m 59s	$1.6M	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Coinbase International. 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 Coinbase InternationalbpFee PhemexbpOrdersPrice spread, now −0.331%Rate

Funding earned: $19.32
Price spread: −0.331% → 0.000%: −$33.06
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$35.74
Costs to cover: 0.220%
Break-even: 19.9 days

Slippage unknown: Coinbase International: 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	2.76 bp	20.5 bp −$20	43.8 bp −$438	111.5 bp −$11.2K	doesn't fit

Coinbase International: 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.

ATOM on 25 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
Deribit ATOM_USDC-PERPETUAL	−0.0137%	1h	1.8086	−0.353%	$497	$10K	25x	as long as short
OKX ATOM-USDT-SWAP	−0.0068%	8h	1.8070	−0.441%	$5.2M	$5.4M	50x	as long as short
Variational Omni ATOM	−0.0006%	8h	1.8073	−0.425%	$578K	$80K	—	as long as short
dYdX ATOM-USD	0.0000%	1h	1.8087	−0.348%	$63K	$4K	10x	as long as short
gTrade (Gains Network) ATOM/USD	L 0.0000% / S +0.0001%	1h	1.8087	−0.347%	$9K	—	150x	as long as short
Bybit ATOMUSDT	+0.0004%	8h	1.8070	−0.441%	$15.1M	$10.6M	75x	as long as short
Coinbase International ATOM-PERP-INTXlong	+0.0008%	1h	1.8150	long leg	$25K	$12K	25x
Hyperliquid ATOM	+0.0100%	1h	1.8085	−0.358%	$2.8M	$853K	5x	as long as short
Aster ATOMUSDT	+0.0100%	8h	1.8092	−0.320%	$984K	$235K	20x	as long as short
Binance ATOMUSDT	+0.0100%	8h	1.8090	−0.331%	$21.5M	$30.9M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ATOM_USDT	+0.0100%	8h	1.8080	−0.386%	$2.5M	$845K	75x	as long as short
MEXC ATOM_USDT	+0.0100%	8h	1.8080	−0.386%	$9.2M	$3.0M	200x	as long as short
KuCoin ATOMUSDTM	+0.0100%	8h	1.8080	−0.386%	$1.6M	$833K	50x	as long as short
Bitget ATOMUSDT	+0.0100%	8h	1.8073	−0.424%	$6.8M	$2.8M	75x	as long as short
BingX ATOM-USDT	+0.0100%	8h	1.8080	−0.386%	—	$24.8M	—	as long as short
edgeX ATOMUSDC	+0.0100%	4h	1.8101	−0.269%	$445K	$294K	10x	as long as short
GRVT ATOM_USDT_Perp	+0.0100%	8h	1.8106	−0.240%	$775K	$3.0M	10x	as long as short
HTX ATOM-USDT	+0.0100%	8h	1.8093	−0.314%	$310K	$174K	75x	as long as short
Phemex ATOMUSDTshort	+0.0100%	8h	1.8090	−0.331%	$1.6M	$1.9M	50x
Extended ATOM-USD	+0.0104%	1h	1.8079	−0.389%	$6K	$184K	10x	as long as short
BloFin ATOM-USDT	+0.0121%	8h	1.8060	−0.496%	$1.1M	$335K	75x	as long as short
Injective ATOM/USDC PERP	+0.0143%	1h	1.8090	−0.331%	$660	$290K	12x	as long as short
GMX ATOM/USD [ETH-USDC]	L +0.0203% / S −0.2202%	1h	1.8091	−0.325%	$4K	—	120x	as long as short
Reya ATOMRUSDPERP	+0.0228%	1h	1.8073	−0.427%	$2K	—	25x	as long as short
Kraken Futures PF_ATOMUSD	+0.0243%	1h	1.8104	−0.251%	$3.1M	$681K	50x	as long as short