Funding arb · Price arb /

ATOM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.013%

Price spread now: Phemex against gTrade (Gains Network)−0.053%50s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)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

Funding pays, the price is against you. Phemex is 0.053% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 43 hours of funding at the current rate (+$3 a day). The two prices were read 50 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	gTrade (Gains Network) ATOM/USD	1.7759	L +0.0001% / S +0.0001%	pay 0.0000% / 1h	59m 22s	$789	—	150x
Short	Phemex ATOMUSDT	1.7750	0.0100	get 0.0100% / 8h	1h 59m	$1.5M	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee PhemexbpOrdersPrice spread, now −0.053%Rate

Funding earned: $20.88
Price spread: −0.053% → 0.000%: −$5.29
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$6.41
Costs to cover: 0.220%
Break-even: 9.1 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: live order book, 4 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Phemex live order book, 4 min ago	2.81 bp	29.1 bp −$29	41.3 bp −$413	118.7 bp −$11.9K	doesn't fit

gTrade (Gains Network): 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	−0.0032%	1h	1.7756	−0.019%	$488	$10K	25x	as long as short
dYdX ATOM-USD	0.0000%	1h	1.7766	+0.040%	$62K	$5K	10x	as long as short
gTrade (Gains Network) ATOM/USDlong	L +0.0001% / S +0.0001%	1h	1.7759	long leg	$789	—	150x
Coinbase International ATOM-PERP-INTX	+0.0008%	1h	1.7700	−0.334%	$24K	$4K	25x	as long as short
Variational Omni ATOM	+0.0068%	8h	1.7752	−0.043%	$564K	$84K	—	as long as short
Hyperliquid ATOM	+0.0100%	1h	1.7740	−0.109%	$2.8M	$800K	5x	as long as short
Aster ATOMUSDT	+0.0100%	8h	1.7764	+0.023%	$966K	$202K	20x	as long as short
Binance ATOMUSDT	+0.0100%	8h	1.7760	+0.003%	$21.2M	$33.2M	75x	as long as short
Bybit ATOMUSDT	+0.0100%	8h	1.7740	−0.109%	$14.7M	$10.5M	75x	as long as short
OKX ATOM-USDT-SWAP	+0.0100%	8h	1.7740	−0.109%	$5.0M	$5.9M	50x	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	1.7750	−0.053%	$2.4M	$851K	75x	as long as short
MEXC ATOM_USDT	+0.0100%	8h	1.7740	−0.109%	$8.5M	$5.2M	200x	as long as short
KuCoin ATOMUSDTM	+0.0100%	8h	1.7760	+0.003%	$1.6M	$725K	50x	as long as short
Bitget ATOMUSDT	+0.0100%	8h	1.7748	−0.064%	$6.7M	$3.4M	75x	as long as short
BingX ATOM-USDT	+0.0100%	8h	1.7760	+0.003%	—	$4.0M	—	as long as short
edgeX ATOMUSDC	+0.0100%	4h	1.7762	+0.014%	$437K	$297K	10x	as long as short
GRVT ATOM_USDT_Perp	+0.0100%	8h	1.7780	+0.116%	$751K	$2.7M	10x	as long as short
HTX ATOM-USDT	+0.0100%	8h	1.7767	+0.043%	$310K	$180K	75x	as long as short
Phemex ATOMUSDTshort	+0.0100%	8h	1.7750	−0.053%	$1.5M	$2.0M	50x
Extended ATOM-USD	+0.0104%	1h	1.7754	−0.031%	$10K	$277K	10x	as long as short
BloFin ATOM-USDT	+0.0113%	8h	1.7750	−0.053%	$1.1M	$355K	75x	as long as short
Injective ATOM/USDC PERP	+0.0118%	1h	1.7780	+0.116%	$649	$290K	12x	as long as short
GMX ATOM/USD [ETH-USDC]	L +0.0198% / S −0.1340%	1h	1.7755	−0.027%	$2K	—	120x	as long as short
Reya ATOMRUSDPERP	+0.0228%	1h	1.7741	−0.106%	$2K	—	25x	as long as short
Kraken Futures PF_ATOMUSD	+0.0555%	1h	1.7768	+0.051%	$2.9M	$862K	50x	as long as short