Funding arb · Price arb /

AMAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0360%/8h= +39.5% APRpaid last 24h +0.052%

Price spread now: Phoenix against Bitget−0.013%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$480.482% of the position

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.417%+$42 on $10k

Price spread, last 3 days (all we have)+0.229%+$23 · spread now −0.013%, 7d avg +0.021%

Together, before fees+0.646%+$65 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.033% cheaper against Bitget than usual: you would sell low and buy high (spread −0.013% now, against its 7-day average of +0.021%). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget AMATUSDT	466.76	0	get 0.0000% / 8h	1m 27s	$2.1M	$1.7M	20x
Short	Phoenix AMAT	466.70	0.0360	get 0.0045% / 1h	1m 27s	$19K	$131K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bitget. 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 BitgetbpFee PhoenixbpOrdersPrice spread, now −0.013%Rate

Funding earned: $75.66
Price spread: −0.013% → +0.021%: −$3.34
Slippage, 4 orders: −$29.16
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $24.16
Costs to cover: 0.482%
Break-even: 4.8 days

Slippage from Bitget: live order book, 6 min ago; Phoenix: live order book, 4 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 Bitget live order book, 6 min ago	0.64 bp	11.8 bp −$12	25.1 bp −$251	doesn't fit	doesn't fit
Sell Phoenix live order book, 4 min ago	2.78 bp	9.5 bp −$10	19.2 bp −$192	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
Aster AMATUSDT	0.0000%	8h	466.96	+0.042%	$10K	$11K	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	466.53	−0.049%	$928K	$616K	25x	as long as short
Gate AMAT_USDT	0.0000%	8h	466.80	+0.009%	$2.0M	$6.4M	50x	as long as short
Bitget AMATUSDTlong	0.0000%	8h	466.76	long leg	$2.1M	$1.7M	20x
OKX AMAT-USDT-SWAP	+0.0002%	8h	466.99	+0.049%	$1.4M	$1.6M	20x	as long as short
Vest AMAT-USD-PERP	+0.0046%	1h	466.41	−0.075%	—	—	10x	as long as short
tradeXYZ xyz:AMAT	+0.0050%	1h	466.50	−0.056%	$2.6M	$2.3M	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	466.25	−0.109%	$408K	$438K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	466.80	+0.009%	$1K	$381K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	467.20	+0.094%	$170K	$40K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AMATshort	+0.0360%	1h	466.70	−0.013%	$19K	$131K	10x
Variational Omni AMAT	+0.0371%	8h	466.62	−0.031%	$86K	$24K	—	as long as short
BloFin AMAT-USDT	+0.0463%	8h	466.43	−0.071%	$109K	$81K	20x	as long as short
Extended AMAT-USD	+0.0464%	1h	466.58	−0.040%	$5K	$27K	10x	as long as short
Binance AMATUSDT	+0.0465%	8h	466.68	−0.017%	$8.9M	$12.7M	20x	as long as short
GRVT AMAT_USDT_Perp	+0.0649%	8h	466.63	−0.028%	$252	$98K	10x	as long as short