Funding you earn now, next payment 04:00 UTC−0.0222%/8h= −24.3% APRpaid last 24h −0.023%
Price spread now: Binance against Phoenix−0.179%55s7-day average −0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$60as 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−$480.477% of the position
Funding, last 7 days−0.120%−$12 on $10k
+Price spread, last 4 days (all we have)+0.582%+$58 · spread now −0.179%, 7d avg −0.009%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Binance is 0.170% cheaper against Phoenix than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.009%). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.120% in total (about -6.3% 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 | Phoenix AMAT | 468.58 | 0.0222 | pay 0.0028% / 1h | 52m 25s | $19K | $110K | 10x |
| Short | Binance AMATUSDT | 467.74 | 0 | get 0.0000% / 8h | 3h 52m | $8.8M | $12.8M | 20x |
Phoenix AMAT
Binance AMATUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$46.6
- Price spread: −0.179% → −0.009%
- −$17
- Slippage, 4 orders
- −$30.71
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$111.31
- Costs to cover
- 0.477%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 58 min ago; Binance: live order book, 3 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 Phoenix live order book, 58 min ago | 3.82 bp | 12.2 bp −$12 | 25.9 bp −$259 | doesn't fit | doesn't fit |
| Sell Binance live order book, 3 min ago | 0.64 bp | 13.8 bp −$14 | 53.5 bp −$535 | 187.5 bp −$18.7K | 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-USDT | −0.0003% | 8h | 468.08 | −0.107% | $109K | $98K | 20x | as long as short |
| Aster AMATUSDT | 0.0000% | 8h | 468.47 | −0.024% | $10K | $11K | 20x | as long as short |
| Extended AMAT-USD | 0.0000% | 1h | 467.85 | −0.155% | $5K | $27K | 10x | as long as short |
| Binance AMATUSDTshort | 0.0000% | 8h | 467.74 | −0.179% | $8.8M | $12.8M | 20x | |
| Bybit AMATUSDT | 0.0000% | 8h | 467.67 | −0.194% | $893K | $656K | 25x | as long as short |
| OKX AMAT-USDT-SWAP | 0.0000% | 8h | 468.15 | −0.092% | $1.4M | $1.6M | 20x | as long as short |
| Bitget AMATUSDT | 0.0000% | 8h | 468.22 | −0.077% | $2.0M | $1.7M | 20x | as long as short |
| Variational Omni AMAT | 0.0000% | 8h | 468.00 | −0.123% | $65K | $44K | — | as long as short |
| GRVT AMAT_USDT_Perp | 0.0000% | 8h | 468.38 | −0.042% | $333 | $101K | 10x | as long as short |
| Vest AMAT-USD-PERP | +0.0046% | 1h | 467.66 | −0.196% | — | — | 10x | as long as short |
BloFin AMAT-USDT
Aster AMATUSDT
Extended AMAT-USD
Bybit AMATUSDT
OKX AMAT-USDT-SWAP
Bitget AMATUSDT
Variational Omni AMAT
GRVT AMAT_USDT_Perp
Vest AMAT-USD-PERPShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:AMAT | +0.0050% | 1h | 467.53 | −0.224% | $2.6M | $2.2M | 10x | as long as short |
| KuCoin AMATUSDTM | +0.0100% | 8h | 467.71 | −0.186% | $410K | $533K | 20x | as long as short |
| SunX AMAT-USDT | +0.0100% | 8h | 465.91 | −0.570% | $964 | $365K | 10x | as long as short |
| HTX AMAT-USDT | +0.0100% | 8h | 468.79 | +0.045% | $171K | $39K | 20x | as long as short |
| Phoenix AMATlong | +0.0222% | 1h | 468.58 | long leg | $19K | $110K | 10x | |
| Gate AMAT_USDT | +0.0296% | 8h | 467.70 | −0.188% | $1.6M | $6.4M | 50x | as long as short |
tradeXYZ xyz:AMAT
KuCoin AMATUSDTM
SunX AMAT-USDT
HTX AMAT-USDT
Gate AMAT_USDT