Funding arb · Price arb /

AMAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0174%/8h= +19.0% APRpaid last 24h +0.074%

Price spread now: Phoenix against OKX−0.033%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

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

costs, in and out, $10k−$480.476% of the position

Long on OKX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 on $10k

Price spread, last 4 days (all we have)+0.691%+$69 · spread now −0.033%, 7d avg +0.013%

Together, before fees+0.817%+$82 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.046% cheaper against OKX than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.013%). If the spread goes back, that is −$5 on $10k: about 21 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.126% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AMAT-USDT-SWAP	459.54	0	get 0.0000% / 8h	19m 14s	$1.3M	$1.6M	20x
Short	Phoenix AMAT	459.39	0.0174	get 0.0022% / 1h	19m 14s	$18K	$114K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against OKX. 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 OKXbpFee PhoenixbpOrdersPrice spread, now −0.033%Rate

Funding earned: $36.48
Price spread: −0.033% → +0.013%: −$4.58
Slippage, 4 orders: −$30.63
Fee OKX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$15.73
Costs to cover: 0.476%
Break-even: 10.0 days

Slippage from OKX: live order book, 2 min ago; Phoenix: live order book, 11 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 OKX live order book, 2 min ago	2.39 bp	13.6 bp −$14	193.0 bp −$1,930	doesn't fit	doesn't fit
Sell Phoenix live order book, 11 min ago	3.26 bp	11.0 bp −$11	22.8 bp −$228	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	−0.0441%	8h	459.84	+0.065%	$1.9M	$1.8M	20x	as long as short
Gate AMAT_USDT	−0.0118%	8h	459.50	−0.009%	$1.5M	$6.0M	50x	as long as short
tradeXYZ xyz:AMAT	−0.0025%	1h	459.02	−0.113%	$2.1M	$2.6M	10x	as long as short
Aster AMATUSDT	0.0000%	8h	459.55	+0.003%	$10K	$10K	20x	as long as short
Extended AMAT-USD	0.0000%	1h	459.22	−0.070%	$1K	$32K	10x	as long as short
Binance AMATUSDT	0.0000%	8h	459.34	−0.044%	$8.3M	$14.2M	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	459.30	−0.052%	$824K	$702K	25x	as long as short
OKX AMAT-USDT-SWAPlong	0.0000%	8h	459.54	long leg	$1.3M	$1.6M	20x
Variational Omni AMAT	0.0000%	8h	459.12	−0.091%	$60K	$47K	—	as long as short
GRVT AMAT_USDT_Perp	0.0000%	8h	459.38	−0.034%	$459	$111K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin AMAT-USDT	+0.0029%	8h	459.28	−0.057%	$108K	$120K	20x	as long as short
Vest AMAT-USD-PERP	+0.0046%	1h	459.45	−0.020%	—	—	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	458.71	−0.181%	$396K	$552K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	459.63	+0.020%	$1K	$378K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	460.08	+0.118%	$167K	$39K	20x	as long as short
Phoenix AMATshort	+0.0174%	1h	459.39	−0.033%	$18K	$114K	10x