Funding arb · Price arb /

AMAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h +0.048%

Price spread now: Phoenix against SunX−0.230%69s7-day average +0.039% · you buy dearer than you sell

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

Long on SunX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.278%+$28 on $10k

Price spread, last 4 days (all we have)+0.282%+$28 · spread now −0.230%, 7d avg +0.039%

Together, before fees+0.559%+$56 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.269% cheaper against SunX than usual: you would sell low and buy high (spread −0.230% now, against its 7-day average of +0.039%). If the spread goes back, that is −$27 on $10k: about 41 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.278% in total) that is about 6.8 days. The two prices were read 69 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	SunX AMAT-USDT	456.81	0.0100	pay 0.0100% / 8h	7h 48m	$978	$377K	10x
Short	Phoenix AMAT	455.76	0.0122	get 0.0015% / 1h	48m 18s	$18K	$116K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against SunX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 SunXbpFee PhoenixbpOrdersPrice spread, now −0.230%Rate

Funding earned: $4.61
Price spread: −0.230% → +0.039%: −$26.86
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$37.25
Costs to cover: 0.150%
Break-even: 63.6 days

Slippage unknown: SunX: live order book, 62 min ago; Phoenix: live order book, 42 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 SunX live order book, 62 min ago	500.10 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 42 min ago	3.26 bp	11.0 bp −$11	22.8 bp −$228	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	−0.263%	$560	$110K	10x	as long as short
Bitget AMATUSDT	−0.0425%	8h	456.93	+0.026%	$1.9M	$1.9M	20x	as long as short
tradeXYZ xyz:AMAT	−0.0264%	1h	456.53	−0.061%	$2.1M	$2.7M	10x	as long as short
Aster AMATUSDT	0.0000%	8h	457.08	+0.059%	$10K	$10K	20x	as long as short
Extended AMAT-USD	0.0000%	1h	456.74	−0.016%	$1K	$14K	10x	as long as short
Binance AMATUSDT	0.0000%	8h	456.88	+0.016%	$8.3M	$14.3M	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	456.84	+0.007%	$815K	$701K	25x	as long as short
OKX AMAT-USDT-SWAP	0.0000%	8h	457.16	+0.077%	$1.3M	$1.6M	20x	as long as short
Gate AMAT_USDT	0.0000%	8h	456.70	−0.024%	$1.4M	$5.3M	50x	as long as short
Variational Omni AMAT	0.0000%	8h	456.86	+0.011%	$60K	$38K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin AMAT-USDT	+0.0010%	8h	456.26	−0.120%	$108K	$121K	20x	as long as short
Vest AMAT-USD-PERP	+0.0046%	1h	456.74	−0.015%	—	—	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	456.19	−0.136%	$392K	$575K	20x	as long as short
SunX AMAT-USDTlong	+0.0100%	8h	456.81	long leg	$978	$377K	10x
HTX AMAT-USDT	+0.0100%	8h	456.81	0.000%	$166K	$39K	20x	as long as short
Phoenix AMATshort	+0.0122%	1h	455.76	−0.230%	$18K	$116K	10x