Funding arb · Price arb /

AMAT

RWAall AMAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0193%/8h= +21.1% APRpaid last 24h +0.024%

Price spread now: Phoenix against BloFin+0.088%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$490.490% of the position

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 4 days (all we have)−0.105%−$11 · spread now +0.088%, 7d avg +0.004%

Together, before fees+0.013%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.084% dearer against BloFin than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.004%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.119% in total (about 6.2% 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	BloFin AMAT-USDT	466.95	0.0029	pay 0.0029% / 8h	3h 41m	$109K	$100K	20x
Short	Phoenix AMAT	467.36	0.0222	get 0.0028% / 1h	41m 41s	$19K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now +0.088%Rate

Funding earned: $40.45
Price spread: +0.088% → +0.004%: $8.38
Slippage, 4 orders: −$30.05
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$0.22
Costs to cover: 0.490%
Break-even: 7.0 days

Slippage from BloFin: live order book, 47 min ago; Phoenix: 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 BloFin live order book, 47 min ago	1.06 bp	13.5 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 4 min ago	3.64 bp	11.8 bp −$12	24.8 bp −$248	doesn't fit	doesn't fit

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 AMATUSDT	0.0000%	8h	466.83	−0.026%	$10K	$11K	20x	as long as short
Extended AMAT-USD	0.0000%	1h	466.52	−0.092%	$5K	$27K	10x	as long as short
Binance AMATUSDT	0.0000%	8h	466.32	−0.136%	$8.8M	$12.9M	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	466.38	−0.122%	$891K	$657K	25x	as long as short
OKX AMAT-USDT-SWAP	0.0000%	8h	466.81	−0.030%	$1.4M	$1.6M	20x	as long as short
Bitget AMATUSDT	0.0000%	8h	466.88	−0.015%	$2.0M	$1.7M	20x	as long as short
Variational Omni AMAT	0.0000%	8h	467.52	+0.122%	$65K	$44K	—	as long as short
GRVT AMAT_USDT_Perp	0.0000%	8h	467.12	+0.036%	$504	$101K	10x	as long as short
BloFin AMAT-USDTlong	+0.0029%	8h	466.95	long leg	$109K	$100K	20x
Vest AMAT-USD-PERP	+0.0046%	1h	466.47	−0.103%	—	—	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:AMAT	+0.0050%	1h	466.52	−0.092%	$2.6M	$2.2M	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	466.69	−0.056%	$410K	$535K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	465.17	−0.381%	$791	$368K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	468.61	+0.355%	$170K	$39K	20x	as long as short
Phoenix AMATshort	+0.0222%	1h	467.36	+0.088%	$19K	$110K	10x
Gate AMAT_USDT	+0.0228%	8h	466.60	−0.075%	$1.6M	$6.4M	50x	as long as short