Funding arb · Price arb /

AMAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0360%/8h= −39.5% APRpaid last 24h −0.052%

Price spread now: Bitget against Phoenix+0.088%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

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

costs, in and out, $10k−$480.482% of the position

Long on Phoenix Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.417%−$42 on $10k

Price spread, last 3 days (all we have)−0.304%−$30 · spread now +0.088%, 7d avg −0.021%

Together, before fees−0.721%−$72 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.108% dearer against Phoenix than usual: you sell high and buy low (spread +0.088% now, against its 7-day average of −0.021%): +$11 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AMAT	466.70	0.0360	pay 0.0045% / 1h	0m 55s	$19K	$131K	10x
Short	Bitget AMATUSDT	467.11	0	get 0.0000% / 8h	0m 55s	$2.1M	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phoenix. 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 PhoenixbpFee BitgetbpOrdersPrice spread, now +0.088%Rate

Funding earned: −$75.66
Price spread: +0.088% → −0.021%: $10.84
Slippage, 4 orders: −$29.16
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$112.99
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from Phoenix: live order book, 4 min ago; Bitget: live order book, 6 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, 4 min ago	2.78 bp	9.5 bp −$10	19.2 bp −$192	doesn't fit	doesn't fit
Sell Bitget live order book, 6 min ago	0.64 bp	17.3 bp −$17	47.0 bp −$470	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
Aster AMATUSDT	0.0000%	8h	466.98	+0.060%	$10K	$11K	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	466.59	−0.024%	$928K	$617K	25x	as long as short
Gate AMAT_USDT	0.0000%	8h	466.90	+0.043%	$2.0M	$6.4M	50x	as long as short
Bitget AMATUSDTshort	0.0000%	8h	467.11	+0.088%	$2.1M	$1.7M	20x
OKX AMAT-USDT-SWAP	+0.0002%	8h	466.99	+0.062%	$1.4M	$1.6M	20x	as long as short
Vest AMAT-USD-PERP	+0.0046%	1h	466.41	−0.062%	—	—	10x	as long as short
tradeXYZ xyz:AMAT	+0.0050%	1h	466.52	−0.039%	$2.6M	$2.3M	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	466.26	−0.094%	$408K	$439K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	466.86	+0.034%	$1K	$382K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	467.20	+0.107%	$170K	$40K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AMATlong	+0.0360%	1h	466.70	long leg	$19K	$131K	10x
Variational Omni AMAT	+0.0383%	8h	466.63	−0.015%	$86K	$24K	—	as long as short
Extended AMAT-USD	+0.0464%	1h	466.66	−0.008%	$5K	$27K	10x	as long as short
Binance AMATUSDT	+0.0465%	8h	466.82	+0.026%	$8.9M	$12.7M	20x	as long as short
BloFin AMAT-USDT	+0.0481%	8h	466.74	+0.009%	$109K	$81K	20x	as long as short
GRVT AMAT_USDT_Perp	+0.0649%	8h	466.63	−0.015%	$252	$98K	10x	as long as short