Funding arb · Price arb /

AMAT

RWAall AMAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.4% APRpaid last 24h 0.000%

Price spread now: Phoenix against Gate+0.123%62s7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.617% of the position

Long on Gate Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.387%+$39 on $10k

Price spread, last 4 days (all we have)+0.390%+$39 · spread now +0.123%, 7d avg +0.040%

Together, before fees+0.777%+$78 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.084% dearer against Gate than usual: you sell high and buy low (spread +0.123% now, against its 7-day average of +0.040%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.6 days. Mind the row above: over the last 7 days funding on this pair paid +0.387%, so the current rate has only just turned against you. The two prices were read 62 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	Gate AMAT_USDT	469.80	0.0254	pay 0.0254% / 8h	5h 26m	$1.7M	$6.4M	50x
Short	Phoenix AMAT	470.38	0.0204	get 0.0026% / 1h	26m 20s	$19K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Gate. 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 GatebpFee PhoenixbpOrdersPrice spread, now +0.123%Rate

Funding earned: −$10.41
Price spread: +0.123% → +0.040%: $8.35
Slippage, 4 orders: −$39.71
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$63.77
Costs to cover: 0.617%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Phoenix: live order book, 29 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 Gate live order book, 2 min ago	5.32 bp	21.3 bp −$21	159.8 bp −$1,598	doesn't fit	doesn't fit
Sell Phoenix live order book, 29 min ago	3.83 bp	12.2 bp −$12	25.9 bp −$259	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	469.87	+0.014%	$10K	$11K	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	469.96	+0.034%	$898K	$656K	25x	as long as short
OKX AMAT-USDT-SWAP	0.0000%	8h	469.98	+0.038%	$1.4M	$1.6M	20x	as long as short
Bitget AMATUSDT	0.0000%	8h	470.12	+0.068%	$2.1M	$1.7M	20x	as long as short
GRVT AMAT_USDT_Perp	0.0000%	8h	470.30	+0.106%	$188	$100K	10x	as long as short
Vest AMAT-USD-PERP	+0.0046%	1h	469.79	−0.002%	—	—	10x	as long as short
tradeXYZ xyz:AMAT	+0.0050%	1h	469.87	+0.015%	$2.6M	$2.3M	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	469.66	−0.030%	$412K	$481K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	470.53	+0.155%	$993	$365K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	470.97	+0.249%	$171K	$40K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AMAT	+0.0108%	8h	470.33	+0.114%	$65K	$44K	—	as long as short
Extended AMAT-USD	+0.0160%	1h	469.75	−0.010%	$5K	$27K	10x	as long as short
Binance AMATUSDT	+0.0162%	8h	469.87	+0.015%	$8.9M	$12.6M	20x	as long as short
BloFin AMAT-USDT	+0.0184%	8h	469.85	+0.011%	$110K	$91K	20x	as long as short
Phoenix AMATshort	+0.0204%	1h	470.38	+0.123%	$19K	$110K	10x
Gate AMAT_USDTlong	+0.0254%	8h	469.80	long leg	$1.7M	$6.4M	50x