Funding you earn now, next payment 08:00 UTC+0.0344%/8h= +37.7% APRnext payment +$0.43 per $10,000 · paid last 24h +0.051%
Price spread now: Phoenix against tradeXYZ+0.299%81s7-day average +0.094% · you sell dearer than you buy
Net, funding: paid 7d − costs−$23as 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−$460.457% of the position
Funding, last 7 days+0.227%+$23 on $10k
+Price spread, last 4 days (all we have)+0.121%+$12 · spread now +0.299%, 7d avg +0.094%
=Together, before fees+0.348%+ Points / potential airdroptradeXYZ: Active · farm board+$35 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Phoenix is 0.205% dearer against tradeXYZ than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.094%. The two prices were read 81 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.227% in total (about 11.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.43 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:AMAT | 455.09 | −0.0222 | get 0.0028% / 1h | 36m 13s | $2.1M | $2.7M | 10x |
| Short | Phoenix AMAT | 456.45 | 0.0122 | get 0.0015% / 1h | 36m 13s | $18K | $116K | 10x |
tradeXYZ xyz:AMAT
Phoenix AMATFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against tradeXYZ. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $72.23
- Price spread: +0.299% → +0.094%
- $20.5
- Slippage, 4 orders
- −$20.7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $47.03
- Costs to cover
- 0.457%
- Break-even
- 2.4 days
Slippage from tradeXYZ: live order book, 11 min ago; Phoenix: live order book, 54 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 tradeXYZ live order book, 11 min ago | 0.33 bp | 11.8 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 54 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 | −0.0470% | 8h | 456.35 | +0.278% | $388 | $109K | 10x | as long as short |
| Bitget AMATUSDT | −0.0397% | 8h | 455.36 | +0.059% | $1.9M | $1.9M | 20x | as long as short |
| tradeXYZ xyz:AMATlong | −0.0222% | 1h | 455.09 | long leg | $2.1M | $2.7M | 10x | |
| BloFin AMAT-USDT | −0.0020% | 8h | 456.07 | +0.215% | $108K | $121K | 20x | as long as short |
| Aster AMATUSDT | 0.0000% | 8h | 455.73 | +0.141% | $9K | $10K | 20x | as long as short |
| Extended AMAT-USD | 0.0000% | 1h | 455.19 | +0.022% | $1K | $14K | 10x | as long as short |
| Binance AMATUSDT | 0.0000% | 8h | 455.50 | +0.090% | $8.3M | $14.4M | 20x | as long as short |
| Bybit AMATUSDT | 0.0000% | 8h | 455.03 | −0.013% | $810K | $700K | 25x | as long as short |
| OKX AMAT-USDT-SWAP | 0.0000% | 8h | 455.70 | +0.134% | $1.3M | $1.6M | 20x | as long as short |
| Gate AMAT_USDT | 0.0000% | 8h | 455.30 | +0.046% | $1.4M | $5.3M | 50x | as long as short |
GRVT AMAT_USDT_Perp
Bitget AMATUSDT
BloFin AMAT-USDT
Aster AMATUSDT
Extended AMAT-USD
Binance AMATUSDT
Bybit AMATUSDT
OKX AMAT-USDT-SWAP
Gate AMAT_USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni AMAT | 0.0000% | 8h | 455.89 | +0.176% | $58K | $40K | — | as long as short |
| Vest AMAT-USD-PERP | +0.0046% | 1h | 455.28 | +0.042% | — | — | 10x | as long as short |
| KuCoin AMATUSDTM | +0.0100% | 8h | 455.63 | +0.119% | $391K | $582K | 20x | as long as short |
| SunX AMAT-USDT | +0.0100% | 8h | 456.56 | +0.323% | $895 | $378K | 10x | as long as short |
| HTX AMAT-USDT | +0.0100% | 8h | 456.92 | +0.402% | $166K | $39K | 20x | as long as short |
| Phoenix AMATshort | +0.0122% | 1h | 456.45 | +0.299% | $18K | $116K | 10x |
Variational Omni AMAT
Vest AMAT-USD-PERP
KuCoin AMATUSDTM
SunX AMAT-USDT
HTX AMAT-USDT