Funding arb · Price arb /

AMAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0125%/8h= +13.7% APRpaid last 24h +0.049%

Price spread now: Phoenix against KuCoin+0.197%63s7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$316as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3423.419% of the position

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.264%+$26 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.197%, 7d avg +0.064%

Together, before fees+0.227%+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.133% dearer against KuCoin than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.064%. The two prices were read 63 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	KuCoin AMATUSDTM	461.81	0.0100	pay 0.0100% / 8h	2h 02m	$399K	$551K	20x
Short	Phoenix AMAT	462.72	0.0225	get 0.0028% / 1h	2m 23s	$19K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against KuCoin. 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 KuCoinbpFee PhoenixbpOrdersPrice spread, now +0.197%Rate

Funding earned: $26.32
Price spread: +0.197% → +0.064%: $13.32
Slippage, 4 orders: −$322.91
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$302.27
Costs to cover: 3.419%
Break-even: 87.4 days

Slippage from KuCoin: live order book, 56 min ago; Phoenix: live order book, 38 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 KuCoin live order book, 56 min ago	9.64 bp	177.5 bp −$178	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 38 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	−0.0369%	8h	462.32	+0.110%	$1.9M	$1.8M	20x	as long as short
Aster AMATUSDT	0.0000%	8h	462.40	+0.128%	$10K	$11K	20x	as long as short
Extended AMAT-USD	0.0000%	1h	462.07	+0.057%	$5K	$27K	10x	as long as short
Binance AMATUSDT	0.0000%	8h	462.24	+0.093%	$8.5M	$13.8M	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	462.06	+0.054%	$847K	$704K	25x	as long as short
OKX AMAT-USDT-SWAP	0.0000%	8h	462.58	+0.167%	$1.4M	$1.6M	20x	as long as short
Gate AMAT_USDT	0.0000%	8h	462.20	+0.084%	$1.5M	$6.6M	50x	as long as short
Variational Omni AMAT	0.0000%	8h	462.85	+0.225%	$64K	$44K	—	as long as short
GRVT AMAT_USDT_Perp	0.0000%	8h	463.08	+0.275%	$454	$110K	10x	as long as short
BloFin AMAT-USDT	+0.0013%	8h	462.30	+0.106%	$107K	$112K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest AMAT-USD-PERP	+0.0046%	1h	461.73	−0.017%	—	—	10x	as long as short
tradeXYZ xyz:AMAT	+0.0050%	1h	462.02	+0.045%	$2.6M	$2.3M	10x	as long as short
KuCoin AMATUSDTMlong	+0.0100%	8h	461.81	long leg	$399K	$551K	20x
SunX AMAT-USDT	+0.0100%	8h	462.11	+0.065%	$1K	$380K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	463.10	+0.279%	$168K	$39K	20x	as long as short
Phoenix AMATshort	+0.0225%	1h	462.72	+0.197%	$19K	$110K	10x