Funding you earn now, next payment 05:00 UTC+0.0225%/8h= +24.7% APRpaid last 24h +0.022%
Price spread now: Phoenix against Binance−0.180%7-day average +0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$43as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$550.550% of the position
Funding, last 7 days+0.120%+$12 on $10k
+Price spread, last 4 days (all we have)−0.090%−$9 · spread now −0.180%, 7d avg +0.010%
=Funding pays, the price is against you. Phoenix is 0.189% cheaper against Binance than usual: you would sell low and buy high (spread −0.180% now, against its 7-day average of +0.010%). If the spread goes back, that is −$19 on $10k: about 2.8 days of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.120% in total) that is about 11 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.120% in total (about 6.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance AMATUSDT | 461.88 | 0 | get 0.0000% / 8h | 2h 13m | $8.5M | $13.7M | 20x |
| Short | Phoenix AMAT | 461.05 | 0.0225 | get 0.0028% / 1h | 13m 13s | $18K | $110K | 10x |
Binance AMATUSDT
Phoenix AMATFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $47.32
- Price spread: −0.180% → +0.010%
- −$18.94
- Slippage, 4 orders
- −$38.03
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$26.64
- Costs to cover
- 0.550%
- Break-even
- 10.9 days
Slippage from Binance: live order book, 12 min ago; Phoenix: live order book, 27 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 Binance live order book, 12 min ago | 1.52 bp | 17.1 bp −$17 | 63.1 bp −$631 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 27 min ago | 3.91 bp | 12.2 bp −$12 | 26.0 bp −$260 | doesn't fit | doesn't fit |
AMAT on 16 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget AMATUSDT | −0.0449% | 8h | 461.82 | −0.013% | $1.9M | $1.8M | 20x | as long as short |
| Aster AMATUSDT | 0.0000% | 8h | 461.72 | −0.034% | $10K | $11K | 20x | as long as short |
| Extended AMAT-USD | 0.0000% | 1h | 461.75 | −0.027% | $5K | $27K | 10x | as long as short |
| Binance AMATUSDTlong | 0.0000% | 8h | 461.88 | long leg | $8.5M | $13.7M | 20x | |
| Bybit AMATUSDT | 0.0000% | 8h | 461.76 | −0.026% | $847K | $701K | 25x | as long as short |
| OKX AMAT-USDT-SWAP | 0.0000% | 8h | 462.00 | +0.026% | $1.4M | $1.6M | 20x | as long as short |
| Gate AMAT_USDT | 0.0000% | 8h | 461.90 | +0.004% | $1.5M | $6.6M | 50x | as long as short |
| Variational Omni AMAT | 0.0000% | 8h | 460.67 | −0.261% | $64K | $44K | — | as long as short |
| GRVT AMAT_USDT_Perp | 0.0000% | 8h | 460.97 | −0.197% | $521 | $110K | 10x | as long as short |
| BloFin AMAT-USDT | +0.0029% | 8h | 461.68 | −0.043% | $108K | $111K | 20x | as long as short |
Bitget AMATUSDT
Aster AMATUSDT
Extended AMAT-USD
Bybit AMATUSDT
OKX AMAT-USDT-SWAP
Gate AMAT_USDT
Variational Omni AMAT
GRVT AMAT_USDT_Perp
BloFin AMAT-USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest AMAT-USD-PERP | +0.0046% | 1h | 461.54 | −0.074% | — | — | 10x | as long as short |
| tradeXYZ xyz:AMAT | +0.0050% | 1h | 461.86 | −0.004% | $2.6M | $2.3M | 10x | as long as short |
| KuCoin AMATUSDTM | +0.0100% | 8h | 461.04 | −0.182% | $399K | $551K | 20x | as long as short |
| SunX AMAT-USDT | +0.0100% | 8h | 461.87 | −0.002% | $878 | $378K | 10x | as long as short |
| HTX AMAT-USDT | +0.0100% | 8h | 462.77 | +0.193% | $168K | $39K | 20x | as long as short |
| Phoenix AMATshort | +0.0225% | 1h | 461.05 | −0.180% | $18K | $110K | 10x |
Vest AMAT-USD-PERP
tradeXYZ xyz:AMAT
KuCoin AMATUSDTM
SunX AMAT-USDT
HTX AMAT-USDT