Funding arb · Price arb /

ASML

RWAall ASML markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.030%

Price spread now: Phoenix against Bybit−0.076%116s7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.076% cheaper against Bybit than usual: you would sell low and buy high (spread −0.076% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 43 hours of funding at the current rate (+$4 a day). The two prices were read 116 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	Bybit ASMLUSDT	1,725.9	0	get 0.0000% / 8h	7h 11m	$887K	$126K	25x
Short	Phoenix ASML	1,724.6	0.0140	get 0.0017% / 1h	11m 33s	$826	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bybit. 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 BybitbpFee PhoenixbpOrdersPrice spread, now −0.076%Rate

Funding earned: $29.34
Price spread: −0.076% → 0.000%: −$7.59
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $3.75
Costs to cover: 0.180%
Break-even: 6.1 days

Slippage unknown: Bybit: live order book, 59 min ago; Phoenix: no order-book sample. 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 Bybit live order book, 59 min ago	6.35 bp	27.8 bp −$28	118.9 bp −$1,189	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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.

ASML on 17 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 ASMLUSDT	0.0000%	8h	1,726	+0.004%	$14K	$12K	20x	as long as short
Bybit ASMLUSDTlong	0.0000%	8h	1,725.9	long leg	$887K	$126K	25x
OKX ASML-USDT-SWAP	0.0000%	8h	1,726.9	+0.057%	$729K	$305K	20x	as long as short
Gate ASML_USDT	0.0000%	8h	1,725.7	−0.011%	$1.1M	$701K	50x	as long as short
Bitget ASMLUSDT	0.0000%	8h	1,725.4	−0.030%	$1.0M	$502K	20x	as long as short
SunX ASML-USDT	0.0000%	8h	1,725.6	−0.019%	$1K	$1.2M	10x	as long as short
HTX ASML-USDT	0.0000%	8h	1,725.6	−0.020%	$11K	$59K	20x	as long as short
GRVT ASML_USDT_Perp	+0.0001%	8h	1,725.9	0.000%	$380	$192K	10x	as long as short
Lighter ASML	+0.0032%	1h	1,727.9	+0.115%	$57K	$3K	10x	as long as short
Injective ASML/USDC PERP	+0.0033%	1h	1,702.2	−1.373%	$11K	$37K	12x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:ASML	+0.0050%	1h	1,724.5	−0.082%	$2.8M	$768K	10x	as long as short
Polymarket Perps ASML-USD	+0.0050%	1h	1,726.3	+0.023%	$69K	$446K	10x	as long as short
KuCoin ASMLUSDTM	+0.0100%	8h	1,723.8	−0.125%	$217K	$326K	10x	as long as short
Phoenix ASMLshort	+0.0140%	1h	1,724.6	−0.076%	$826	$19K	10x
BloFin ASML-USDT	+0.0730%	8h	1,726.8	+0.049%	$46K	$103K	20x	as long as short
Binance ASMLUSDT	+0.0747%	8h	1,726.4	+0.027%	$3.6M	$3.2M	20x	as long as short
Extended ASML-USD	+0.0752%	1h	1,726.1	+0.009%	$4K	$344K	10x	as long as short