Funding arb · Price arb /

AMZN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0224%/8h= +24.5% APRpaid last 24h +0.010%

Price spread now: Phoenix against OKX−0.019%76s7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as 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−$360.363% of the position

Long on OKX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 3 days (all we have)−0.043%−$4 · spread now −0.019%, 7d avg −0.054%

Together, before fees+0.036%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.035% dearer against OKX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.054%. The two prices were read 76 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 0.078% in total (about 4.1% a year). A funding rate is set anew for every payment. 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	OKX AMZN-USDT-SWAP	258.96	0.0116	pay 0.0116% / 8h	1h 06m	$2.9M	$4.4M	20x
Short	Phoenix AMZN	258.91	0.0340	get 0.0042% / 1h	6m 07s	$5K	$118K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against OKX. 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 OKXbpFee PhoenixbpOrdersPrice spread, now −0.019%Rate

Funding earned: $46.97
Price spread: −0.019% → −0.054%: $3.52
Slippage, 4 orders: −$19.29
Fee OKX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $14.19
Costs to cover: 0.363%
Break-even: 4.9 days

Slippage from OKX: live order book, 1 min ago; Phoenix: live order book, 4 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 OKX live order book, 1 min ago	0.58 bp	10.7 bp −$11	18.7 bp −$187	doesn't fit	doesn't fit
Sell Phoenix live order book, 4 min ago	2.70 bp	8.4 bp −$8	17.7 bp −$177	doesn't fit	doesn't fit

AMZN on 30 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 AMZNUSDT	0.0000%	8h	258.92	−0.015%	$202K	$211K	20x	as long as short
Gate AMZN_USDT	0.0000%	8h	258.70	−0.100%	$763K	$2.7M	100x	as long as short
Lighter RH AMZN	+0.0032%	1h	258.91	−0.019%	$715K	$1.7M	10x	as long as short
Hotstuff AMZN-PERP	+0.0032%	1h	258.81	−0.058%	$33K	—	20x	as long as short
Vest AMZN-USD-PERP	+0.0046%	1h	258.71	−0.097%	—	$104K	25x	as long as short
Polymarket Perps AMZN-USD	+0.0050%	1h	258.76	−0.077%	$304K	$315K	10x	as long as short
SoDEX AMZN-USD	+0.0050%	1h	258.84	−0.046%	$627	$5K	10x	as long as short
Ondo Perps AMZN-USD.P	+0.0050%	1h	258.58	−0.147%	$1.3M	$1.3M	10x	as long as short
Coinbase International AMZN-PERP-INTX	+0.0056%	1h	258.71	−0.097%	$940K	$2.7M	10x	as long as short
QFEX AMZN-USD	+0.0066%	1h	258.83	−0.050%	$1.4M	$4.5M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AMZNUSDTM	+0.0100%	8h	258.61	−0.135%	$1.5M	$635K	20x	as long as short
ApeX Omni AMZNUSDT	+0.0100%	1h	258.69	−0.104%	$92K	$134K	50x	as long as short
Orderly PERP_AMZN_USDC_mythos	+0.0100%	8h	258.86	−0.039%	$1K	$320	10x	as long as short
Aevo AMZN-PERP	+0.0104%	1h	258.83	−0.050%	$14K	$510	10x	as long as short
OKX AMZN-USDT-SWAPlong	+0.0116%	8h	258.96	long leg	$2.9M	$4.4M	20x
GRVT AMZN_USDT_Perp	+0.0129%	8h	258.87	−0.034%	$10K	$1.8M	10x	as long as short
tradeXYZ xyz:AMZN	+0.0143%	1h	258.82	−0.054%	$28.4M	$11.0M	20x	as long as short
Variational Omni AMZN	+0.0195%	8h	258.87	−0.037%	$1.8M	$1.4M	—	as long as short
Extended AMZN_24_5-USD	+0.0208%	1h	258.86	−0.040%	$490K	$2.5M	10x	as long as short
Binance AMZNUSDT	+0.0209%	8h	258.91	−0.019%	$16.1M	$31.4M	20x	as long as short
Nado AMZN-PERP	+0.0219%	1h	258.69	−0.104%	$414K	$123K	20x	as long as short
Injective AMZN/USDC PERP	+0.0220%	1h	258.63	−0.127%	$74K	$27K	30x	as long as short
Lighter AMZN	+0.0264%	1h	258.93	−0.011%	$832K	$1.1M	20x	as long as short
Bitget AMZNUSDT	+0.0277%	8h	258.90	−0.023%	$4.8M	$4.0M	100x	as long as short
Arcus AMZN-USD	+0.0284%	1h	258.74	−0.085%	$196K	$233K	10x	as long as short
Bybit AMZNUSDT	+0.0328%	8h	258.96	0.000%	$3.7M	$3.3M	100x	as long as short
BloFin AMZN-USDT	+0.0330%	8h	258.87	−0.035%	$178K	$188K	20x	as long as short
Phoenix AMZNshort	+0.0340%	1h	258.91	−0.019%	$5K	$118K	20x
Deribit AMZN_USDC-PERPETUAL	+0.0369%	1h	258.83	−0.050%	$27K	$226K	10x	as long as short
edgeX AMZNUSDC	+0.0761%	4h	258.83	−0.049%	$28K	$247K	10x	as long as short