Funding arb · Price arb /

INTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0262%/8h= −28.7% APRpaid last 24h −0.087%

Price spread now: Phemex against Phoenix−0.138%73s7-day average +0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as 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−$1141.145% of the position

Long on Phoenix Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.442%−$44 on $10k

Price spread, last 3 days (all we have)+0.239%+$24 · spread now −0.138%, 7d avg +0.040%

Together, before fees−0.203%−$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Phemex is 0.178% cheaper against Phoenix than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.040%). Swap the legs. The two prices were read 73 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	123.37	0.0262	pay 0.0033% / 1h	19m 50s	$47K	$256K	10x
Short	Phemex INTCUSDT	123.20	0	get 0.0000% / 8h	1h 19m	$1.7M	$51K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.138%Rate

Funding earned: −$55
Price spread: −0.138% → +0.040%: −$17.82
Slippage, 4 orders: −$95.46
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$187.28
Costs to cover: 1.145%
Break-even: never at this rate

Slippage from Phoenix: live order book, 60 min ago; Phemex: live order book, 3 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 Phoenix live order book, 60 min ago	2.46 bp	10.9 bp −$11	22.9 bp −$229	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.43 bp	43.3 bp −$43	doesn't fit	doesn't fit	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
Aster INTCUSDT	0.0000%	8h	123.22	−0.119%	$307K	$505K	20x	as long as short
OKX INTC-USDT-SWAP	0.0000%	8h	123.15	−0.178%	$18.6M	$69.3M	25x	as long as short
Gate INTC_USDT	0.0000%	8h	123.16	−0.170%	$9.1M	$32.2M	75x	as long as short
Phemex INTCUSDTshort	0.0000%	8h	123.20	−0.138%	$1.7M	$51K	10x
Bybit INTCUSDT	+0.0022%	8h	123.17	−0.162%	$13.4M	$29.2M	50x	as long as short
GRVT INTC_USDT_Perp	+0.0029%	8h	123.38	+0.011%	$925K	$1.5M	10x	as long as short
Lighter RH INTC	+0.0032%	1h	123.17	−0.162%	$599K	$3.0M	10x	as long as short
Injective INTC/USDC PERP	+0.0033%	1h	121.34	−1.645%	$213	$23K	12x	as long as short
Aftermath Perps INTCUSD	+0.0041%	1h	123.25	−0.100%	$2K	$53K	10x	as long as short
Vest INTC-USD-PERP	+0.0046%	1h	123.21	−0.130%	—	$1.5M	25x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX INTC-USD	+0.0050%	1h	123.19	−0.150%	$27K	$4K	10x	as long as short
Ondo Perps INTC-USD.P	+0.0050%	1h	123.00	−0.300%	$1.3M	$2.2M	10x	as long as short
Variational Omni INTC	+0.0057%	8h	123.25	−0.094%	$2.1M	$2.4M	—	as long as short
Nado INTC-PERP	+0.0058%	1h	123.17	−0.161%	$169K	$237K	10x	as long as short
QFEX INTC-USD	+0.0060%	1h	123.19	−0.146%	$1.9M	$15.1M	10x	as long as short
Coinbase International INTC-PERP-INTX	+0.0064%	1h	123.07	−0.243%	$264K	$1.2M	10x	as long as short
Polymarket Perps INTC-USD	+0.0082%	1h	123.17	−0.162%	$206K	$432K	10x	as long as short
Paradex INTC-USD-PERP	+0.0091%	8h	123.16	−0.174%	—	—	5x	as long as short
ApeX Omni INTCUSDT	+0.0100%	1h	123.40	+0.024%	$46K	$258K	50x	as long as short
Orderly PERP_INTC_USDC_mythos	+0.0100%	8h	123.16	−0.170%	$4K	$3K	10x	as long as short
Binance INTCUSDT	+0.0101%	8h	123.17	−0.162%	$72.1M	$411.3M	25x	as long as short
Extended INTC_24_5-USD	+0.0104%	1h	123.15	−0.182%	$343K	$1.1M	10x	as long as short
Aevo INTC-PERP	+0.0104%	1h	123.19	−0.149%	$50K	—	10x	as long as short
edgeX INTCUSDC	+0.0153%	4h	123.39	+0.015%	$87K	$287K	10x	as long as short
Deribit INTC_USDC-PERPETUAL	+0.0156%	1h	123.12	−0.203%	$21K	$180K	10x	as long as short
KuCoin INTCUSDTM	+0.0177%	8h	123.23	−0.113%	$1.2M	$60K	20x	as long as short
BloFin INTC-USDT	+0.0222%	8h	123.31	−0.049%	$908K	$323K	25x	as long as short
tradeXYZ xyz:INTC	+0.0230%	1h	123.14	−0.186%	$145.6M	$79.6M	10x	as long as short
Bitget INTCUSDT	+0.0230%	8h	123.19	−0.146%	$25.5M	$34.3M	50x	as long as short
RISEx INTC/USDC	+0.0257%	1h	123.25	−0.101%	$336K	$369K	10x	as long as short
Phoenix INTClong	+0.0262%	1h	123.37	long leg	$47K	$256K	10x
Lighter INTC	+0.0344%	1h	123.22	−0.118%	$1.5M	$1.9M	10x	as long as short
Arcus INTC-USD	+0.0693%	1h	123.17	−0.162%	$108K	$298K	10x	as long as short