Funding arb · Price arb /

SNXX

RWAall SNXX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Phemex+0.169%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$1461.461% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.355%+$36 on $10k

Price spread, last 4 days (all we have)−0.188%−$19 · spread now +0.169%, 7d avg −0.011%

Together, before fees+0.168%+$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.181% dearer against Phemex than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SNXXUSDT	17.740	0	get 0.0000% / 8h	3h 48m	$1.6M	$1.5M	20x
Short	Bybit SNXXUSDT	17.770	0	get 0.0000% / 8h	3h 48m	$3.3M	$18.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Phemex. 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 PhemexbpFee BybitbpOrdersPrice spread, now +0.169%Rate

Funding earned: $0
Price spread: +0.169% → −0.011%: $18.05
Slippage, 4 orders: −$123.07
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$128.01
Costs to cover: 1.461%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Bybit: live order book, 5 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 Phemex live order book, 4 min ago	5.61 bp	51.8 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.80 bp	16.2 bp −$16	29.6 bp −$296	doesn't fit	doesn't fit

SNXX on 15 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:SNXX	−0.1924%	1h	17.781	+0.231%	$140K	$742K	10x	as long as short
edgeX SNXXUSDC	−0.0768%	4h	17.823	+0.470%	$55K	$403K	10x	as long as short
Bybit SNXXUSDTshort	0.0000%	8h	17.770	+0.169%	$3.3M	$18.5M	50x
OKX SNXX-USDT-SWAP	0.0000%	8h	17.760	+0.113%	$5.1M	$61.3M	25x	as long as short
Gate SNXX_USDT	0.0000%	8h	17.749	+0.051%	$4.3M	$17.8M	50x	as long as short
SunX SNXX-USDT	0.0000%	8h	17.740	0.000%	—	$4.7M	10x	as long as short
HTX SNXX-USDT	0.0000%	8h	17.780	+0.225%	$10K	$4K	10x	as long as short
Phemex SNXXUSDTlong	0.0000%	8h	17.740	long leg	$1.6M	$1.5M	20x
Bitget SNXXUSDT	+0.0013%	8h	17.766	+0.147%	$3.9M	$40.3M	20x	as long as short
KuCoin SNXXUSDTM	+0.0100%	8h	17.820	+0.451%	$211K	$286K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SNXX_USDC_mythos	+0.0100%	8h	17.790	+0.282%	$1K	$2K	10x	as long as short
Binance SNXXUSDT	+0.0157%	8h	17.770	+0.169%	$30.9M	$464.1M	25x	as long as short
MEXC SNXX_USDT	+0.0209%	8h	17.750	+0.056%	$9.2M	$7.7M	50x	as long as short
BloFin SNXX-USDT	+0.0234%	8h	17.740	0.000%	$285K	$284K	25x	as long as short
Aster SNXXUSDT	+0.0345%	8h	17.826	+0.484%	$53K	$573K	20x	as long as short