Funding arb · Price arb /

AMZN

RWAall AMZN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0247%/8h= +27.0% APRpaid last 24h +0.015%

Price spread now: Bybit against Phoenix+0.058%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Bybit is 0.058% dearer against Phoenix than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.086%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.086% in total (about -4.5% 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	Phoenix AMZN	259.98	0.0246	pay 0.0031% / 1h	45m 33s	$5K	$78K	20x
Short	Bybit AMZNUSDT	260.13	0.0493	get 0.0493% / 8h	7h 45m	$4.0M	$3.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.058%Rate

Funding earned: $51.84
Price spread: +0.058% → 0.000%: $5.77
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $39.61
Costs to cover: 0.180%
Break-even: 1.7 days

Slippage unknown: Phoenix: no order-book sample; Bybit: live order book, 2 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 no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	0.19 bp	10.8 bp −$11	11.0 bp −$110	doesn't fit	doesn't fit

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	260.04	+0.024%	$204K	$209K	20x	as long as short
OKX AMZN-USDT-SWAP	0.0000%	8h	260.04	+0.023%	$2.9M	$4.8M	20x	as long as short
Hotstuff AMZN-PERP	0.0000%	1h	259.85	−0.050%	$33K	—	20x	as long as short
Gate AMZN_USDT	0.0000%	8h	259.80	−0.069%	$765K	$2.6M	100x	as long as short
Bitget AMZNUSDT	0.0000%	8h	260.04	+0.023%	$4.9M	$4.1M	100x	as long as short
GRVT AMZN_USDT_Perp	0.0000%	8h	259.95	−0.011%	$10K	$1.8M	10x	as long as short
Variational Omni AMZN	+0.0010%	8h	260.01	+0.013%	$1.8M	$1.1M	—	as long as short
Lighter RH AMZN	+0.0032%	1h	259.98	0.000%	$722K	$1.6M	10x	as long as short
Extended AMZN_24_5-USD	+0.0032%	1h	259.95	−0.010%	$501K	$3.0M	10x	as long as short
Binance AMZNUSDT	+0.0036%	8h	260.02	+0.015%	$16.1M	$29.6M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus AMZN-USD	+0.0040%	1h	259.84	−0.054%	$197K	$233K	10x	as long as short
Vest AMZN-USD-PERP	+0.0046%	1h	259.84	−0.054%	—	$104K	25x	as long as short
Polymarket Perps AMZN-USD	+0.0050%	1h	259.71	−0.104%	$321K	$287K	10x	as long as short
SoDEX AMZN-USD	+0.0050%	1h	259.94	−0.015%	$686	$5K	10x	as long as short
Ondo Perps AMZN-USD.P	+0.0050%	1h	259.77	−0.081%	$1.3M	$1.1M	10x	as long as short
tradeXYZ xyz:AMZN	+0.0051%	1h	259.82	−0.062%	$29.9M	$11.3M	20x	as long as short
QFEX AMZN-USD	+0.0052%	1h	259.94	−0.015%	$1.4M	$3.5M	10x	as long as short
Coinbase International AMZN-PERP-INTX	+0.0088%	1h	259.86	−0.046%	$918K	$2.3M	10x	as long as short
KuCoin AMZNUSDTM	+0.0100%	8h	259.78	−0.077%	$1.5M	$402K	20x	as long as short
ApeX Omni AMZNUSDT	+0.0100%	1h	259.76	−0.085%	$93K	$130K	50x	as long as short
Orderly PERP_AMZN_USDC_mythos	+0.0100%	8h	259.98	0.000%	$1K	$331	10x	as long as short
Aevo AMZN-PERP	+0.0104%	1h	259.92	−0.023%	$14K	$510	10x	as long as short
BloFin AMZN-USDT	+0.0140%	8h	260.03	+0.019%	$178K	$303K	20x	as long as short
Nado AMZN-PERP	+0.0147%	1h	259.78	−0.076%	$414K	$114K	20x	as long as short
Deribit AMZN_USDC-PERPETUAL	+0.0173%	1h	259.87	−0.042%	$29K	$173K	10x	as long as short
Lighter AMZN	+0.0184%	1h	259.98	−0.002%	$744K	$1.3M	20x	as long as short
Injective AMZN/USDC PERP	+0.0220%	1h	260.35	+0.142%	$75K	$27K	30x	as long as short
Phoenix AMZNlong	+0.0246%	1h	259.98	long leg	$5K	$78K	20x
edgeX AMZNUSDC	+0.0464%	4h	259.95	−0.011%	$28K	$249K	10x	as long as short
Bybit AMZNUSDTshort	+0.0493%	8h	260.13	+0.058%	$4.0M	$3.3M	100x