Funding arb · Price arb /

AMAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0122%/8h= −13.4% APRpaid last 24h −0.078%

Price spread now: Bybit against Phoenix+0.046%65s7-day average −0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$132as 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−$830.834% of the position

Long on Phoenix Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.488%−$49 on $10k

Price spread, last 4 days (all we have)−0.572%−$57 · spread now +0.046%, 7d avg −0.065%

Together, before fees−1.060%−$106 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.112% dearer against Phoenix than usual: you sell high and buy low (spread +0.046% now, against its 7-day average of −0.065%): +$11 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.0 days. The two prices were read 65 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	Phoenix AMAT	455.84	0.0122	pay 0.0015% / 1h	50m 26s	$18K	$116K	10x
Short	Bybit AMATUSDT	456.05	0	get 0.0000% / 8h	7h 50m	$813K	$698K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$25.61
Price spread: +0.046% → −0.065%: $11.15
Slippage, 4 orders: −$65.45
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$97.91
Costs to cover: 0.834%
Break-even: never at this rate

Slippage from Phoenix: live order book, 40 min ago; Bybit: live order book, 45 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, 40 min ago	3.26 bp	11.0 bp −$11	22.8 bp −$228	doesn't fit	doesn't fit
Sell Bybit live order book, 45 min ago	4.02 bp	39.4 bp −$39	113.6 bp −$1,136	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
GRVT AMAT_USDT_Perp	−0.0763%	8h	455.61	−0.051%	$560	$110K	10x	as long as short
Bitget AMATUSDT	−0.0429%	8h	455.78	−0.013%	$1.9M	$1.9M	20x	as long as short
tradeXYZ xyz:AMAT	−0.0253%	1h	455.65	−0.042%	$2.1M	$2.7M	10x	as long as short
BloFin AMAT-USDT	−0.0021%	8h	456.47	+0.138%	$108K	$121K	20x	as long as short
Aster AMATUSDT	0.0000%	8h	456.38	+0.118%	$10K	$10K	20x	as long as short
Extended AMAT-USD	0.0000%	1h	456.61	+0.170%	$1K	$14K	10x	as long as short
Binance AMATUSDT	0.0000%	8h	456.02	+0.039%	$8.3M	$14.3M	20x	as long as short
Bybit AMATUSDTshort	0.0000%	8h	456.05	+0.046%	$813K	$698K	25x
OKX AMAT-USDT-SWAP	0.0000%	8h	455.73	−0.024%	$1.3M	$1.6M	20x	as long as short
Gate AMAT_USDT	0.0000%	8h	455.60	−0.053%	$1.4M	$5.3M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AMAT	0.0000%	8h	456.86	+0.224%	$60K	$38K	—	as long as short
Vest AMAT-USD-PERP	+0.0046%	1h	456.24	+0.088%	—	—	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	456.34	+0.110%	$393K	$576K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	456.32	+0.105%	$967	$377K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	456.77	+0.204%	$166K	$39K	20x	as long as short
Phoenix AMATlong	+0.0122%	1h	455.84	long leg	$18K	$116K	10x