Funding arb · Price arb /

AMAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0118%/8h= +12.9% APRpaid last 24h −0.027%

Price spread now: BloFin against Phoenix+0.338%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on Phoenix Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 3 days (all we have)−0.328%−$33 · spread now +0.338%, 7d avg −0.003%

Together, before fees−0.445%−$44 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 BloFin is 0.342% dearer against Phoenix than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of −0.003%. Mind the row above: over the last 7 days funding on this pair cost −0.116%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AMAT	467.25	0.0360	pay 0.0045% / 1h	53m 49s	$19K	$131K	10x
Short	BloFin AMAT-USDT	468.83	0.0478	get 0.0478% / 8h	7h 53m	$109K	$83K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.338%Rate

Funding earned: $24.77
Price spread: +0.338% → −0.003%: $34.15
Slippage, 4 orders: −$26.4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $13.53
Costs to cover: 0.454%
Break-even: 3.2 days

Slippage from Phoenix: live order book, 11 min ago; BloFin: live order book, 1 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, 11 min ago	2.78 bp	9.5 bp −$10	19.2 bp −$192	doesn't fit	doesn't fit
Sell BloFin live order book, 1 min ago	1.60 bp	16.8 bp −$17	doesn't fit	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	468.87	+0.346%	$10K	$11K	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	468.32	+0.229%	$921K	$629K	25x	as long as short
Gate AMAT_USDT	0.0000%	8h	468.60	+0.289%	$1.9M	$6.3M	50x	as long as short
Bitget AMATUSDT	0.0000%	8h	468.76	+0.323%	$2.1M	$1.7M	20x	as long as short
OKX AMAT-USDT-SWAP	+0.0023%	8h	468.68	+0.306%	$1.4M	$1.6M	20x	as long as short
Vest AMAT-USD-PERP	+0.0046%	1h	468.41	+0.248%	—	—	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	468.32	+0.229%	$412K	$441K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	468.91	+0.355%	$1K	$380K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	469.77	+0.539%	$171K	$40K	20x	as long as short
Phoenix AMATlong	+0.0360%	1h	467.25	long leg	$19K	$131K	10x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AMAT	+0.0394%	8h	468.84	+0.340%	$87K	$24K	—	as long as short
Binance AMATUSDT	+0.0471%	8h	468.33	+0.231%	$8.9M	$12.7M	20x	as long as short
Extended AMAT-USD	+0.0472%	1h	468.49	+0.266%	$5K	$27K	10x	as long as short
BloFin AMAT-USDTshort	+0.0478%	8h	468.83	+0.338%	$109K	$83K	20x
GRVT AMAT_USDT_Perp	+0.0927%	8h	468.40	+0.247%	$529	$98K	10x	as long as short
tradeXYZ xyz:AMAT	+0.1086%	1h	468.56	+0.280%	$2.6M	$2.3M	10x	as long as short