Funding arb · Price arb /

AMAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0192%/8h= −21.0% APRpaid last 24h −0.055%

Price spread now: SunX against Phoenix−0.064%7-day average −0.039% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.284%−$28 on $10k

Price spread, last 3 days (all we have)+0.054%+$5 · spread now −0.064%, 7d avg −0.039%

Together, before fees−0.230%−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and SunX is 0.025% cheaper against Phoenix than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.039%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AMAT	468.81	0.0292	pay 0.0036% / 1h	53m 13s	$19K	$131K	10x
Short	SunX AMAT-USDT	468.51	0.0100	get 0.0100% / 8h	7h 53m	$1K	$381K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.064%Rate

Funding earned: −$40.22
Price spread: −0.064% → −0.039%: −$2.5
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$57.71
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 12 min ago; SunX: live order book, 67 min ago. Net counts fees only.

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, 12 min ago	2.78 bp	9.5 bp −$10	19.2 bp −$192	doesn't fit	doesn't fit
Sell SunX live order book, 67 min ago	500.07 bp	doesn't fit	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	468.52	−0.061%	$10K	$11K	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	468.32	−0.105%	$921K	$624K	25x	as long as short
Bitget AMATUSDT	0.0000%	8h	468.59	−0.047%	$2.1M	$1.7M	20x	as long as short
OKX AMAT-USDT-SWAP	+0.0023%	8h	468.68	−0.028%	$1.4M	$1.6M	20x	as long as short
Vest AMAT-USD-PERP	+0.0046%	1h	468.03	−0.166%	—	—	10x	as long as short
Gate AMAT_USDT	+0.0053%	8h	468.40	−0.087%	$1.9M	$6.3M	50x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	468.08	−0.156%	$411K	$442K	20x	as long as short
SunX AMAT-USDTshort	+0.0100%	8h	468.51	−0.064%	$1K	$381K	10x
HTX AMAT-USDT	+0.0100%	8h	469.77	+0.205%	$171K	$40K	20x	as long as short
Phoenix AMATlong	+0.0292%	1h	468.81	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	+0.006%	$87K	$24K	—	as long as short
Binance AMATUSDT	+0.0471%	8h	468.34	−0.100%	$8.9M	$12.7M	20x	as long as short
Extended AMAT-USD	+0.0472%	1h	468.25	−0.119%	$5K	$27K	10x	as long as short
BloFin AMAT-USDT	+0.0476%	8h	468.43	−0.081%	$109K	$82K	20x	as long as short
GRVT AMAT_USDT_Perp	+0.0927%	8h	468.40	−0.086%	$529	$98K	10x	as long as short
tradeXYZ xyz:AMAT	+0.1034%	1h	468.36	−0.096%	$2.6M	$2.3M	10x	as long as short