Funding arb · Price arb /

ASML

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0093%/8h= −10.2% APRpaid last 24h −0.030%

Price spread now: Bybit against Phoenix+0.048%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 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

The price spread pays, funding is against you. Bybit is 0.048% dearer against Phoenix than usual: you sell high and buy low (spread +0.048% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ASML	1,722.2	0.0093	pay 0.0012% / 1h	41m 21s	$828	$17K	10x
Short	Bybit ASMLUSDT	1,723	0	get 0.0000% / 8h	5h 41m	$872K	$126K	25x

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 +0.048%Rate

Funding earned: −$19.53
Price spread: +0.048% → 0.000%: $4.82
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: −$32.71
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Bybit: live order book, 19 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, 19 min ago	9.68 bp	29.1 bp −$29	160.9 bp −$1,609	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.

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	1,724.3	+0.120%	$14K	$12K	20x	as long as short
Bybit ASMLUSDTshort	0.0000%	8h	1,723	+0.048%	$872K	$126K	25x
OKX ASML-USDT-SWAP	0.0000%	8h	1,723.4	+0.070%	$729K	$295K	20x	as long as short
Gate ASML_USDT	0.0000%	8h	1,723.4	+0.072%	$1.1M	$597K	50x	as long as short
Bitget ASMLUSDT	0.0000%	8h	1,723.1	+0.055%	$985K	$535K	20x	as long as short
GRVT ASML_USDT_Perp	0.0000%	8h	1,722.3	+0.004%	$344	$183K	10x	as long as short
SunX ASML-USDT	0.0000%	8h	1,720.8	−0.081%	$1K	$1.1M	10x	as long as short
HTX ASML-USDT	0.0000%	8h	1,723.2	+0.055%	$11K	$59K	20x	as long as short
Lighter ASML	+0.0032%	1h	1,725	+0.163%	$57K	$3K	10x	as long as short
Injective ASML/USDC PERP	+0.0033%	1h	1,702.2	−1.160%	$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	1,722.5	+0.017%	$2.8M	$786K	10x	as long as short
Polymarket Perps ASML-USD	+0.0050%	1h	1,723.7	+0.087%	$68K	$447K	10x	as long as short
Phoenix ASMLlong	+0.0093%	1h	1,722.2	long leg	$828	$17K	10x
KuCoin ASMLUSDTM	+0.0100%	8h	1,721.7	−0.027%	$217K	$314K	10x	as long as short
Binance ASMLUSDT	+0.0446%	8h	1,723.6	+0.083%	$3.3M	$3.5M	20x	as long as short
BloFin ASML-USDT	+0.0456%	8h	1,722.2	−0.001%	$47K	$102K	20x	as long as short
Extended ASML-USD	+0.0456%	1h	1,723.5	+0.074%	$7K	$339K	10x	as long as short