Funding arb · Price arb /

AMAT

RWAall AMAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0227%/8h= +24.8% APRpaid last 24h +0.024%

Price spread now: Phoenix against BloFin+0.129%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$490.490% of the position

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 4 days (all we have)−0.146%−$15 · spread now +0.129%, 7d avg +0.004%

Together, before fees−0.028%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.125% dearer against BloFin than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.004%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.119% in total (about 6.2% 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	BloFin AMAT-USDT	465.37	−0.0005	get 0.0005% / 8h	3h 25m	$109K	$103K	20x
Short	Phoenix AMAT	465.97	0.0222	get 0.0028% / 1h	25m 50s	$19K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now +0.129%Rate

Funding earned: $47.64
Price spread: +0.129% → +0.004%: $12.49
Slippage, 4 orders: −$30.05
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $11.09
Costs to cover: 0.490%
Break-even: 5.4 days

Slippage from BloFin: live order book, 62 min ago; Phoenix: live order book, 19 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 BloFin live order book, 62 min ago	1.06 bp	13.5 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 19 min ago	3.64 bp	11.8 bp −$12	24.8 bp −$248	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
BloFin AMAT-USDTlong	−0.0005%	8h	465.37	long leg	$109K	$103K	20x
Aster AMATUSDT	0.0000%	8h	465.11	−0.057%	$10K	$11K	20x	as long as short
Extended AMAT-USD	0.0000%	1h	464.58	−0.170%	$5K	$27K	10x	as long as short
Binance AMATUSDT	0.0000%	8h	464.71	−0.142%	$8.7M	$13.1M	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	464.55	−0.176%	$879K	$664K	25x	as long as short
OKX AMAT-USDT-SWAP	0.0000%	8h	465.12	−0.054%	$1.4M	$1.6M	20x	as long as short
Bitget AMATUSDT	0.0000%	8h	464.72	−0.140%	$2.0M	$1.7M	20x	as long as short
Variational Omni AMAT	0.0000%	8h	464.56	−0.173%	$65K	$44K	—	as long as short
GRVT AMAT_USDT_Perp	0.0000%	8h	465.89	+0.113%	$335	$102K	10x	as long as short
Vest AMAT-USD-PERP	+0.0046%	1h	464.88	−0.105%	—	—	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:AMAT	+0.0050%	1h	464.44	−0.200%	$2.6M	$2.2M	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	464.75	−0.133%	$405K	$538K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	463.46	−0.410%	$853	$370K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	466.49	+0.241%	$170K	$39K	20x	as long as short
Gate AMAT_USDT	+0.0135%	8h	464.70	−0.144%	$1.6M	$6.5M	50x	as long as short
Phoenix AMATshort	+0.0222%	1h	465.97	+0.129%	$19K	$110K	10x