Funding arb · Price arb /

INTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0198%/8h= −21.7% APRpaid last 24h −0.039%

Price spread now: Bybit against Phoenix0.000%75s7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as 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

Long on Phoenix Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.253%−$25 on $10k

Price spread, last 4 days (all we have)−1.157%−$116 · spread now 0.000%, 7d avg +0.012%

Together, before fees−1.410%−$141 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.012%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. The two prices were read 75 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	Phoenix INTC	121.28	0.0198	pay 0.0025% / 1h	58m 12s	$47K	$235K	10x
Short	Bybit INTCUSDT	121.28	0	get 0.0000% / 8h	7h 58m	$12.9M	$27.9M	50x

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 0.000%Rate

Funding earned: −$41.65
Price spread: 0.000% → +0.012%: −$1.19
Slippage, 4 orders: −$27.7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$88.54
Costs to cover: 0.457%
Break-even: never at this rate

Slippage from Phoenix: live order book, 37 min ago; Bybit: live order book, just now.

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 live order book, 37 min ago	4.13 bp	13.0 bp −$13	28.4 bp −$284	doesn't fit	doesn't fit
Sell Bybit live order book, just now	1.24 bp	10.8 bp −$11	40.8 bp −$408	417.1 bp −$41.7K	doesn't fit

INTC on 33 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
Bitget INTCUSDT	−0.0197%	8h	121.33	+0.041%	$25.2M	$32.1M	50x	as long as short
Aster INTCUSDT	0.0000%	8h	121.40	+0.097%	$430K	$674K	20x	as long as short
Bybit INTCUSDTshort	0.0000%	8h	121.28	0.000%	$12.9M	$27.9M	50x
Gate INTC_USDT	0.0000%	8h	121.30	+0.016%	$8.3M	$30.4M	75x	as long as short
GRVT INTC_USDT_Perp	0.0000%	8h	121.34	+0.049%	$909K	$1.4M	10x	as long as short
Deribit INTC_USDC-PERPETUAL	0.0000%	1h	121.20	−0.066%	$20K	$110K	10x	as long as short
Phemex INTCUSDT	0.0000%	8h	121.21	−0.058%	$1.7M	$50K	10x	as long as short
Variational Omni INTC	+0.0009%	8h	121.30	+0.015%	$2.0M	$2.5M	—	as long as short
OKX INTC-USDT-SWAP	+0.0018%	8h	121.29	+0.008%	$18.1M	$67.9M	25x	as long as short
Lighter RH INTC	+0.0032%	1h	121.23	−0.041%	$676K	$2.7M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International INTC-PERP-INTX	+0.0032%	1h	121.27	−0.008%	$246K	$817K	10x	as long as short
Injective INTC/USDC PERP	+0.0033%	1h	121.34	+0.049%	$213	$16K	12x	as long as short
Aftermath Perps INTCUSD	+0.0040%	1h	121.28	+0.003%	$2K	$55K	10x	as long as short
Arcus INTC-USD	+0.0040%	1h	121.27	−0.008%	$91K	$289K	10x	as long as short
Vest INTC-USD-PERP	+0.0046%	1h	121.23	−0.041%	—	$1.5M	25x	as long as short
Extended INTC_24_5-USD	+0.0048%	1h	121.28	−0.001%	$334K	$1.9M	10x	as long as short
edgeX INTCUSDC	+0.0048%	4h	121.38	+0.083%	$86K	$296K	10x	as long as short
Polymarket Perps INTC-USD	+0.0050%	1h	121.20	−0.066%	$217K	$550K	10x	as long as short
SoDEX INTC-USD	+0.0050%	1h	121.25	−0.025%	$27K	$4K	10x	as long as short
Ondo Perps INTC-USD.P	+0.0050%	1h	121.31	+0.025%	$1.2M	$2.5M	10x	as long as short
Binance INTCUSDT	+0.0051%	8h	121.31	+0.025%	$69.7M	$396.2M	25x	as long as short
QFEX INTC-USD	+0.0056%	1h	121.27	−0.008%	$1.3M	$9.9M	10x	as long as short
Paradex INTC-USD-PERP	+0.0082%	8h	121.29	+0.005%	—	—	5x	as long as short
Aevo INTC-PERP	+0.0096%	1h	121.29	+0.006%	$49K	—	10x	as long as short
ApeX Omni INTCUSDT	+0.0100%	1h	121.38	+0.082%	$47K	$258K	50x	as long as short
Orderly PERP_INTC_USDC_mythos	+0.0100%	8h	121.31	+0.025%	$4K	$3K	10x	as long as short
Lighter INTC	+0.0104%	1h	121.32	+0.030%	$1.4M	$1.8M	10x	as long as short
Nado INTC-PERP	+0.0112%	1h	121.27	−0.008%	$157K	$297K	10x	as long as short
KuCoin INTCUSDTM	+0.0122%	8h	121.33	+0.041%	$1.1M	$125K	20x	as long as short
BloFin INTC-USDT	+0.0173%	8h	121.22	−0.049%	$901K	$309K	25x	as long as short
Phoenix INTClong	+0.0198%	1h	121.28	long leg	$47K	$235K	10x
tradeXYZ xyz:INTC	+0.0250%	1h	121.24	−0.033%	$146.3M	$60.1M	10x	as long as short
RISEx INTC/USDC	+0.0362%	1h	121.36	+0.070%	$318K	$314K	10x	as long as short