Funding arb · Price arb /

PLTR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h −0.002%

Price spread now: Phoenix against Bybit−0.049%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$550.547% of the position

Long on Bybit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

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 0.049% cheaper against Bybit than usual: you would sell low and buy high (spread −0.049% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 3.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PLTRUSDT	182.60	0	get 0.0000% / 8h	5h 37m	$3.0M	$2.4M	25x
Short	Phoenix PLTR	182.51	0.0044	get 0.0005% / 1h	37m 01s	$30K	$93K	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 −0.049%Rate

Funding earned: $9.2
Price spread: −0.049% → 0.000%: −$4.93
Slippage, 4 orders: −$36.69
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$50.41
Costs to cover: 0.547%
Break-even: 45.3 days

Slippage from Bybit: live order book, 5 min ago; Phoenix: live order book, 83 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 Bybit live order book, 5 min ago	0.55 bp	14.9 bp −$15	101.3 bp −$1,013	doesn't fit	doesn't fit
Sell Phoenix live order book, 83 min ago	3.82 bp	12.6 bp −$13	27.5 bp −$275	doesn't fit	doesn't fit

PLTR on 27 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
tradeXYZ xyz:PLTR	−0.0084%	1h	182.41	−0.104%	$12.0M	$6.2M	10x	as long as short
Polymarket Perps PLTR-USD	−0.0080%	1h	182.33	−0.148%	$214K	$677K	10x	as long as short
Aster PLTRUSDT	0.0000%	8h	182.97	+0.200%	$61K	$44K	50x	as long as short
Extended PLTR_24_5-USD	0.0000%	1h	182.58	−0.011%	$306K	$1.4M	10x	as long as short
Binance PLTRUSDT	0.0000%	8h	182.63	+0.016%	$9.0M	$30.2M	20x	as long as short
Bybit PLTRUSDTlong	0.0000%	8h	182.60	long leg	$3.0M	$2.4M	25x
OKX PLTR-USDT-SWAP	0.0000%	8h	182.56	−0.022%	$1.7M	$2.4M	20x	as long as short
Gate PLTR_USDT	0.0000%	8h	182.52	−0.044%	$332K	$725K	50x	as long as short
Bitget PLTRUSDT	0.0000%	8h	182.55	−0.027%	$3.4M	$3.0M	20x	as long as short
Variational Omni PLTR	0.0000%	8h	182.57	−0.014%	$737K	$219K	—	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT PLTR_USDT_Perp	0.0000%	8h	182.60	0.000%	$15K	$670K	10x	as long as short
QFEX PLTR-USD	+0.0026%	1h	182.55	−0.027%	$1.2M	$2.4M	10x	as long as short
Lighter PLTR	+0.0032%	1h	182.45	−0.082%	$184K	$255K	10x	as long as short
Lighter RH PLTR	+0.0032%	1h	182.50	−0.055%	$366K	$598K	10x	as long as short
Injective PLTR/USDC PERP	+0.0033%	1h	181.69	−0.498%	$1K	$42K	30x	as long as short
Arcus PLTR-USD	+0.0040%	1h	182.52	−0.044%	$86K	$47K	10x	as long as short
Phoenix PLTRshort	+0.0044%	1h	182.51	−0.049%	$30K	$93K	10x
Vest PLTR-USD-PERP	+0.0046%	1h	182.58	−0.011%	—	$124K	25x	as long as short
SoDEX PLTR-USD	+0.0050%	1h	182.56	−0.022%	$52K	$3K	10x	as long as short
Ondo Perps PLTR-USD.P	+0.0050%	1h	182.49	−0.060%	$364K	$1.6M	10x	as long as short
Hotstuff PLTR-PERP	+0.0056%	1h	182.34	−0.142%	$29K	$10K	20x	as long as short
edgeX PLTRUSDC	+0.0094%	4h	182.56	−0.021%	$42K	$262K	10x	as long as short
Pacifica PLTR	+0.0100%	1h	182.51	−0.048%	$192K	$14K	10x	as long as short
KuCoin PLTRUSDTM	+0.0100%	8h	182.43	−0.093%	$1.1M	$28K	20x	as long as short
ApeX Omni PLTRUSDT	+0.0100%	1h	182.51	−0.049%	$3K	$8K	50x	as long as short
Aevo PLTR-PERP	+0.0104%	1h	182.56	−0.024%	$89	—	10x	as long as short
BloFin PLTR-USDT	+0.0120%	8h	182.59	−0.005%	$123K	$238K	20x	as long as short