Funding arb · Price arb /

AMAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0133%/8h= +14.5% APRpaid last 24h 0.000%

Price spread now: Gate against Phoenix−0.155%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$730.729% of the position

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.388%−$39 on $10k

Price spread, last 4 days (all we have)−0.577%−$58 · spread now −0.155%, 7d avg −0.040%

Together, before fees−0.965%−$97 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.115% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.155% now, against its 7-day average of −0.040%). If the spread goes back, that is −$12 on $10k: about 2.9 days of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.388%, 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	471.13	0.0220	pay 0.0028% / 1h	23m 25s	$19K	$110K	10x
Short	Gate AMAT_USDT	470.40	0.0353	get 0.0353% / 8h	6h 23m	$1.7M	$6.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.155%Rate

Funding earned: $27.84
Price spread: −0.155% → −0.040%: −$11.51
Slippage, 4 orders: −$50.95
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$56.62
Costs to cover: 0.729%
Break-even: 21.2 days

Slippage from Phoenix: live order book, 37 min ago; Gate: live order book, 5 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, 37 min ago	3.81 bp	12.2 bp −$12	25.8 bp −$258	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	4.25 bp	21.7 bp −$22	112.1 bp −$1,121	doesn't fit	doesn't fit

AMAT on 15 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	470.54	−0.126%	$10K	$11K	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	470.49	−0.136%	$901K	$653K	25x	as long as short
OKX AMAT-USDT-SWAP	0.0000%	8h	470.74	−0.083%	$1.4M	$1.6M	20x	as long as short
Bitget AMATUSDT	0.0000%	8h	470.79	−0.072%	$2.1M	$1.7M	20x	as long as short
GRVT AMAT_USDT_Perp	0.0000%	8h	470.93	−0.043%	$358	$99K	10x	as long as short
Vest AMAT-USD-PERP	+0.0046%	1h	470.34	−0.168%	—	—	10x	as long as short
tradeXYZ xyz:AMAT	+0.0050%	1h	470.42	−0.151%	$2.6M	$2.3M	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	470.05	−0.229%	$409K	$471K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	471.28	+0.032%	$1K	$374K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	472.17	+0.221%	$172K	$39K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix AMATlong	+0.0220%	1h	471.13	long leg	$19K	$110K	10x
Variational Omni AMAT	+0.0245%	8h	471.00	−0.028%	$66K	$44K	—	as long as short
Binance AMATUSDT	+0.0301%	8h	470.53	−0.127%	$8.9M	$12.7M	20x	as long as short
Extended AMAT-USD	+0.0304%	1h	470.38	−0.160%	$5K	$27K	10x	as long as short
Gate AMAT_USDTshort	+0.0353%	8h	470.40	−0.155%	$1.7M	$6.4M	50x