Funding arb · Price arb /

AMAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0133%/8h= −14.5% APRpaid last 24h 0.000%

Price spread now: Phoenix against Gate+0.155%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$590.587% of the position

Long on Gate Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.388%+$39 on $10k

Price spread, last 4 days (all we have)+0.577%+$58 · spread now +0.155%, 7d avg +0.040%

Together, before fees+0.965%+$97 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.115% dearer against Gate than usual: you sell high and buy low (spread +0.155% now, against its 7-day average of +0.040%): +$12 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.9 days. Mind the row above: over the last 7 days funding on this pair paid +0.388%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AMAT_USDT	470.40	0.0353	pay 0.0353% / 8h	6h 22m	$1.7M	$6.4M	50x
Short	Phoenix AMAT	471.13	0.0220	get 0.0028% / 1h	22m 56s	$19K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Gate. 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 GatebpFee PhoenixbpOrdersPrice spread, now +0.155%Rate

Funding earned: −$27.84
Price spread: +0.155% → +0.040%: $11.53
Slippage, 4 orders: −$36.71
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$75.02
Costs to cover: 0.587%
Break-even: never at this rate

Slippage from Gate: live order book, just now; Phoenix: live order book, 37 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 Gate live order book, just now	2.13 bp	18.2 bp −$18	180.4 bp −$1,804	doesn't fit	doesn't fit
Sell Phoenix live order book, 37 min ago	3.81 bp	12.2 bp −$12	25.9 bp −$259	doesn't fit	doesn't fit

AMAT on 15 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	470.44	+0.009%	$10K	$11K	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	470.48	+0.017%	$901K	$653K	25x	as long as short
OKX AMAT-USDT-SWAP	0.0000%	8h	470.74	+0.072%	$1.4M	$1.6M	20x	as long as short
Bitget AMATUSDT	0.0000%	8h	470.71	+0.066%	$2.1M	$1.7M	20x	as long as short
GRVT AMAT_USDT_Perp	0.0000%	8h	470.93	+0.113%	$358	$99K	10x	as long as short
Vest AMAT-USD-PERP	+0.0046%	1h	470.34	−0.013%	—	—	10x	as long as short
tradeXYZ xyz:AMAT	+0.0050%	1h	470.40	0.000%	$2.6M	$2.3M	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	469.94	−0.098%	$409K	$470K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	471.28	+0.187%	$1K	$374K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	472.17	+0.376%	$172K	$39K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AMATshort	+0.0220%	1h	471.13	+0.155%	$19K	$110K	10x
Variational Omni AMAT	+0.0245%	8h	471.00	+0.127%	$66K	$44K	—	as long as short
Binance AMATUSDT	+0.0301%	8h	470.47	+0.014%	$8.9M	$12.7M	20x	as long as short
Extended AMAT-USD	+0.0304%	1h	470.32	−0.018%	$5K	$27K	10x	as long as short
Gate AMAT_USDTlong	+0.0353%	8h	470.40	long leg	$1.7M	$6.4M	50x