Funding arb · Price arb /

AMAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0125%/8h= +13.7% APRpaid last 24h +0.049%

Price spread now: Phoenix against KuCoin+0.093%78s7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$316as 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−$3423.419% of the position

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.264%+$26 on $10k

Price spread, last 4 days (all we have)+0.067%+$7 · spread now +0.093%, 7d avg +0.064%

Together, before fees+0.331%+$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.029% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.064%. The two prices were read 78 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	KuCoin AMATUSDTM	462.30	0.0100	pay 0.0100% / 8h	2h 08m	$400K	$551K	20x
Short	Phoenix AMAT	462.73	0.0225	get 0.0028% / 1h	8m 11s	$19K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against KuCoin. 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 KuCoinbpFee PhoenixbpOrdersPrice spread, now +0.093%Rate

Funding earned: $26.32
Price spread: +0.093% → +0.064%: $2.91
Slippage, 4 orders: −$322.91
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$312.67
Costs to cover: 3.419%
Break-even: 90.1 days

Slippage from KuCoin: live order book, 51 min ago; Phoenix: live order book, 32 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 KuCoin live order book, 51 min ago	9.64 bp	177.5 bp −$178	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 32 min ago	3.91 bp	12.2 bp −$12	26.0 bp −$260	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
Bitget AMATUSDT	−0.0408%	8h	462.89	+0.128%	$1.9M	$1.8M	20x	as long as short
BloFin AMAT-USDT	−0.0028%	8h	462.79	+0.106%	$107K	$111K	20x	as long as short
Aster AMATUSDT	0.0000%	8h	462.92	+0.134%	$10K	$11K	20x	as long as short
Extended AMAT-USD	0.0000%	1h	462.51	+0.045%	$5K	$27K	10x	as long as short
Binance AMATUSDT	0.0000%	8h	462.69	+0.084%	$8.5M	$13.8M	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	462.87	+0.123%	$846K	$703K	25x	as long as short
OKX AMAT-USDT-SWAP	0.0000%	8h	463.08	+0.169%	$1.4M	$1.6M	20x	as long as short
Gate AMAT_USDT	0.0000%	8h	462.90	+0.130%	$1.5M	$6.6M	50x	as long as short
Variational Omni AMAT	0.0000%	8h	462.76	+0.100%	$64K	$44K	—	as long as short
GRVT AMAT_USDT_Perp	0.0000%	8h	462.73	+0.093%	$523	$110K	10x	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	462.85	+0.119%	—	—	10x	as long as short
tradeXYZ xyz:AMAT	+0.0050%	1h	463.04	+0.160%	$2.6M	$2.3M	10x	as long as short
KuCoin AMATUSDTMlong	+0.0100%	8h	462.30	long leg	$400K	$551K	20x
SunX AMAT-USDT	+0.0100%	8h	462.98	+0.147%	$889	$379K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	463.19	+0.193%	$169K	$39K	20x	as long as short
Phoenix AMATshort	+0.0225%	1h	462.73	+0.093%	$19K	$110K	10x