Funding arb · Price arb /

AMAT

RWAall AMAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0225%/8h= −24.7% APRpaid last 24h −0.079%

Price spread now: Bybit against Phoenix−0.261%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$590.593% of the position

Long on Phoenix Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.493%−$49 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.261%, 7d avg −0.067%

Together, before fees−0.470%−$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.194% cheaper against Phoenix than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.067%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AMAT	464.07	0.0225	pay 0.0028% / 1h	47m 26s	$19K	$110K	10x
Short	Bybit AMATUSDT	462.86	0	get 0.0000% / 8h	2h 47m	$862K	$681K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Phoenix. 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 PhoenixbpFee BybitbpOrdersPrice spread, now −0.261%Rate

Funding earned: −$47.32
Price spread: −0.261% → −0.067%: −$19.37
Slippage, 4 orders: −$41.33
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$126.02
Costs to cover: 0.593%
Break-even: never at this rate

Slippage from Phoenix: live order book, 58 min ago; Bybit: live order book, 63 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 Phoenix live order book, 58 min ago	3.64 bp	11.8 bp −$12	24.8 bp −$248	doesn't fit	doesn't fit
Sell Bybit live order book, 63 min ago	3.75 bp	21.4 bp −$21	113.0 bp −$1,130	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	−0.0188%	8h	462.96	−0.239%	$2.0M	$1.8M	20x	as long as short
Aster AMATUSDT	0.0000%	8h	462.94	−0.244%	$10K	$11K	20x	as long as short
Extended AMAT-USD	0.0000%	1h	462.60	−0.317%	$5K	$27K	10x	as long as short
Binance AMATUSDT	0.0000%	8h	462.72	−0.292%	$8.5M	$13.4M	20x	as long as short
Bybit AMATUSDTshort	0.0000%	8h	462.86	−0.261%	$862K	$681K	25x
OKX AMAT-USDT-SWAP	0.0000%	8h	462.80	−0.274%	$1.4M	$1.6M	20x	as long as short
Gate AMAT_USDT	0.0000%	8h	462.90	−0.252%	$1.5M	$6.5M	50x	as long as short
Variational Omni AMAT	0.0000%	8h	463.70	−0.080%	$65K	$44K	—	as long as short
GRVT AMAT_USDT_Perp	0.0000%	8h	463.65	−0.090%	$250	$107K	10x	as long as short
BloFin AMAT-USDT	+0.0016%	8h	463.18	−0.192%	$108K	$108K	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	463.03	−0.224%	—	—	10x	as long as short
tradeXYZ xyz:AMAT	+0.0050%	1h	462.74	−0.287%	$2.6M	$2.2M	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	462.18	−0.407%	$402K	$549K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	464.79	+0.155%	$1K	$376K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	463.69	−0.082%	$169K	$39K	20x	as long as short
Phoenix AMATlong	+0.0225%	1h	464.07	long leg	$19K	$110K	10x