Funding arb · Price arb /

AMAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0310%/8h= +33.9% APRpaid last 24h +0.077%

Price spread now: Phoenix against Aster−0.058%85s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Phoenix is 0.058% cheaper against Aster than usual: you would sell low and buy high (spread −0.058% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 15 hours of funding at the current rate (+$9 a day). The two prices were read 85 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	Aster AMATUSDT	464.20	0	get 0.0000% / 8h	3h 30m	$10K	$11K	20x
Short	Phoenix AMAT	463.93	0.0310	get 0.0039% / 1h	30m 11s	$19K	$127K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. 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 AsterbpFee PhoenixbpOrdersPrice spread, now −0.058%Rate

Funding earned: $65.03
Price spread: −0.058% → 0.000%: −$5.79
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $44.24
Costs to cover: 0.150%
Break-even: 2.2 days

Slippage unknown: Aster: no order-book sample; Phoenix: live order book, 12 min ago. Net counts fees only.

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 Aster no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 12 min ago	2.59 bp	9.5 bp −$9	19.0 bp −$190	doesn't fit	doesn't fit

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AMAT on 16 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 AMATUSDTlong	0.0000%	8h	464.20	long leg	$10K	$11K	20x
Extended AMAT-USD	0.0000%	1h	464.10	−0.022%	$5K	$40K	10x	as long as short
Binance AMATUSDT	0.0000%	8h	464.16	−0.008%	$8.9M	$12.7M	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	464.06	−0.030%	$952K	$655K	25x	as long as short
OKX AMAT-USDT-SWAP	0.0000%	8h	464.42	+0.048%	$1.4M	$1.6M	20x	as long as short
Gate AMAT_USDT	0.0000%	8h	464.20	0.000%	$2.0M	$6.5M	50x	as long as short
Bitget AMATUSDT	0.0000%	8h	464.21	+0.002%	$2.1M	$1.7M	20x	as long as short
Variational Omni AMAT	0.0000%	8h	464.00	−0.043%	$76K	$21K	—	as long as short
GRVT AMAT_USDT_Perp	0.0000%	8h	463.82	−0.081%	$673	$126K	10x	as long as short
BloFin AMAT-USDT	+0.0010%	8h	463.79	−0.088%	$110K	$74K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest AMAT-USD-PERP	+0.0046%	1h	463.95	−0.054%	—	—	10x	as long as short
tradeXYZ xyz:AMAT	+0.0050%	1h	464.08	−0.026%	$2.6M	$2.7M	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	463.40	−0.172%	$404K	$404K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	464.17	−0.006%	$900	$386K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	464.93	+0.158%	$169K	$39K	20x	as long as short
Phoenix AMATshort	+0.0310%	1h	463.93	−0.058%	$19K	$127K	10x