Funding arb · Price arb /

ASML

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0142%/8h= −15.5% APRpaid last 24h −0.031%

Price spread now: Bybit against Phoenix+0.084%75s7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Bybit

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—needs both histories

The price spread pays, funding is against you. Bybit is 0.084% dearer against Phoenix than usual: you sell high and buy low (spread +0.084% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 47 hours. The two prices were read 75 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	Phoenix ASML	1,682.2	0.0142	pay 0.0018% / 1h	24m 11s	$806	$17K	10x
Short	Bybit ASMLUSDT	1,683.6	0	get 0.0000% / 8h	7h 24m	$858K	$59K	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 +0.084%Rate

Funding earned: −$29.82
Price spread: +0.084% → 0.000%: $8.38
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$39.43
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Bybit: live order book, 6 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 Phoenix no order-book sample	—	—	—	—	—
Sell Bybit live order book, 6 min ago	5.08 bp	25.2 bp −$25	120.7 bp −$1,207	doesn't fit	doesn't fit

Phoenix: 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.

ASML on 17 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 ASMLUSDT	0.0000%	8h	1,684.9	+0.162%	$14K	$12K	20x	as long as short
Extended ASML-USD	0.0000%	1h	1,684.2	+0.119%	$6K	$258K	10x	as long as short
Binance ASMLUSDT	0.0000%	8h	1,684.9	+0.162%	$3.2M	$3.6M	20x	as long as short
Bybit ASMLUSDTshort	0.0000%	8h	1,683.6	+0.084%	$858K	$59K	25x
OKX ASML-USDT-SWAP	0.0000%	8h	1,682.3	+0.006%	$709K	$246K	20x	as long as short
Gate ASML_USDT	0.0000%	8h	1,683.9	+0.098%	$1.0M	$485K	50x	as long as short
Bitget ASMLUSDT	0.0000%	8h	1,682.9	+0.043%	$986K	$468K	20x	as long as short
GRVT ASML_USDT_Perp	0.0000%	8h	1,682.4	+0.009%	$303	$158K	10x	as long as short
SunX ASML-USDT	0.0000%	8h	1,683	+0.046%	$1K	$932K	10x	as long as short
HTX ASML-USDT	0.0000%	8h	1,684.3	+0.122%	$10K	$62K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin ASML-USDT	+0.0024%	8h	1,683.1	+0.053%	$47K	$89K	20x	as long as short
Lighter ASML	+0.0032%	1h	1,686	+0.226%	$56K	$3K	10x	as long as short
Injective ASML/USDC PERP	+0.0033%	1h	1,702.2	+1.190%	$11K	$37K	12x	as long as short
tradeXYZ xyz:ASML	+0.0050%	1h	1,683.2	+0.059%	$2.8M	$774K	10x	as long as short
Polymarket Perps ASML-USD	+0.0050%	1h	1,682.9	+0.042%	$66K	$369K	10x	as long as short
KuCoin ASMLUSDTM	+0.0100%	8h	1,681.5	−0.040%	$212K	$322K	10x	as long as short
Phoenix ASMLlong	+0.0142%	1h	1,682.2	long leg	$806	$17K	10x