Funding arb · Price arb /

SNXX

RWAall SNXX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.028%

Price spread now: Phemex against tradeXYZ+0.050%7-day average −0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$197as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1591.593% of the position

Long on tradeXYZ Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.380%−$38 on $10k

Price spread, last 4 days (all we have)−0.301%−$30 · spread now +0.050%, 7d avg −0.058%

Together, before fees−0.681%+ Points / potential airdroptradeXYZ: Active · farm board−$68 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.108% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.050% now, against its 7-day average of −0.058%): +$11 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.2 days. At the pace of the last 7 days (−0.380% in total) that is about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:SNXX	17.851	0.0050	pay 0.0006% / 1h	24m 54s	$141K	$764K	10x
Short	Phemex SNXXUSDT	17.860	0	get 0.0000% / 8h	5h 24m	$1.6M	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against tradeXYZ. 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 tradeXYZbpFee PhemexbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$10.5
Price spread: +0.050% → −0.058%: $10.8
Slippage, 4 orders: −$129.27
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$158.97
Costs to cover: 1.593%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 62 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 tradeXYZ live order book, 62 min ago	2.52 bp	19.9 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	5.60 bp	67.9 bp −$68	doesn't fit	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
edgeX SNXXUSDC	−0.0860%	4h	17.849	−0.013%	$55K	$403K	10x	as long as short
Gate SNXX_USDT	0.0000%	8h	17.862	+0.062%	$4.3M	$17.8M	50x	as long as short
SunX SNXX-USDT	0.0000%	8h	17.850	−0.006%	—	$4.7M	10x	as long as short
HTX SNXX-USDT	0.0000%	8h	17.860	+0.050%	$10K	$4K	10x	as long as short
Phemex SNXXUSDTshort	0.0000%	8h	17.860	+0.050%	$1.6M	$1.5M	20x
Bybit SNXXUSDT	+0.0043%	8h	17.870	+0.106%	$3.3M	$18.3M	50x	as long as short
tradeXYZ xyz:SNXXlong	+0.0050%	1h	17.851	long leg	$141K	$764K	10x
OKX SNXX-USDT-SWAP	+0.0062%	8h	17.870	+0.106%	$5.1M	$61.4M	25x	as long as short
KuCoin SNXXUSDTM	+0.0100%	8h	17.860	+0.050%	$211K	$304K	20x	as long as short
Orderly PERP_SNXX_USDC_mythos	+0.0100%	8h	17.860	+0.050%	$1K	$2K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SNXXUSDT	+0.0195%	8h	17.862	+0.062%	$4.0M	$40.5M	20x	as long as short
Binance SNXXUSDT	+0.0433%	8h	17.858	+0.039%	$32.3M	$462.2M	25x	as long as short
MEXC SNXX_USDT	+0.0434%	8h	17.850	−0.006%	$9.3M	$7.7M	50x	as long as short
BloFin SNXX-USDT	+0.0441%	8h	17.870	+0.106%	$287K	$286K	25x	as long as short
Aster SNXXUSDT	+0.0466%	8h	17.855	+0.025%	$53K	$573K	20x	as long as short