Funding arb · Price arb /

SNXX

RWAall SNXX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0476%/8h= +52.1% APRpaid last 24h −0.026%

Price spread now: Phemex against edgeX−0.039%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs−$152as in the Price arb table

costs, in and out, $10k−$1491.490% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$3 on $10k

Price spread, last 3 days (all we have)−0.109%−$11 · spread now −0.039%, 7d avg −0.012%

Together, before fees−0.144%+ Points / potential airdropedgeX: Active · farm board−$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.027% cheaper against edgeX than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of −0.012%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$14 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.035% in total (about -1.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX SNXXUSDC	17.827	−0.0476	get 0.0238% / 4h	2h 18m	$55K	$404K	10x
Short	Phemex SNXXUSDT	17.820	0	get 0.0000% / 8h	6h 18m	$1.6M	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now −0.039%Rate

Funding earned: $100
Price spread: −0.039% → −0.012%: −$2.73
Slippage, 4 orders: −$127.95
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$51.68
Costs to cover: 1.490%
Break-even: 10.6 days

Slippage from edgeX: live order book, 50 min ago; Phemex: live order book, 4 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 edgeX live order book, 50 min ago	13.94 bp	18.4 bp −$18	63.6 bp −$636	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	11.19 bp	49.7 bp −$50	doesn't fit	doesn't fit	doesn't fit

SNXX on 14 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
edgeX SNXXUSDClong	−0.0476%	4h	17.827	long leg	$55K	$404K	10x
Gate SNXX_USDT	0.0000%	8h	17.832	+0.028%	$4.3M	$17.9M	50x	as long as short
SunX SNXX-USDT	0.0000%	8h	17.820	−0.039%	—	$4.8M	10x	as long as short
HTX SNXX-USDT	0.0000%	8h	17.890	+0.353%	$10K	$6K	10x	as long as short
Phemex SNXXUSDTshort	0.0000%	8h	17.820	−0.039%	$1.6M	$1.5M	20x
tradeXYZ xyz:SNXX	+0.0050%	1h	17.842	+0.084%	$141K	$840K	10x	as long as short
KuCoin SNXXUSDTM	+0.0100%	8h	17.840	+0.073%	$211K	$309K	20x	as long as short
Orderly PERP_SNXX_USDC_mythos	+0.0100%	8h	17.850	+0.129%	$1K	$2K	10x	as long as short
OKX SNXX-USDT-SWAP	+0.0150%	8h	17.830	+0.017%	$5.2M	$61.6M	25x	as long as short
Bitget SNXXUSDT	+0.0345%	8h	17.831	+0.022%	$4.0M	$40.9M	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SNXXUSDT	+0.0567%	8h	17.830	+0.017%	$3.3M	$18.3M	50x	as long as short
Aster SNXXUSDT	+0.0570%	8h	17.853	+0.146%	$53K	$573K	20x	as long as short
Binance SNXXUSDT	+0.0630%	8h	17.821	−0.035%	$32.6M	$465.8M	25x	as long as short
MEXC SNXX_USDT	+0.0642%	8h	17.840	+0.073%	$8.4M	$7.6M	50x	as long as short