Funding arb · Price arb /

DELL

RWAall DELL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0107%/8h= −11.7% APRpaid last 24h −0.100%

Price spread now: Gate against Phoenix+0.028%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.368%−$37 on $10k

Price spread, last 3 days (all we have)−0.022%−$2 · spread now +0.028%, 7d avg −0.035%

Together, before fees−0.390%−$39 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.063% dearer against Phoenix than usual: you sell high and buy low (spread +0.028% now, against its 7-day average of −0.035%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix DELL	579.81	0.0790	pay 0.0099% / 1h	48m 38s	$3K	$280K	10x
Short	Gate DELL_USDT	579.97	0.0683	get 0.0683% / 8h	7h 48m	$4.2M	$7.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.028%Rate

Funding earned: −$22.46
Price spread: +0.028% → −0.035%: $6.3
Slippage, 4 orders: −$19.62
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$57.78
Costs to cover: 0.416%
Break-even: never at this rate

Slippage from Phoenix: live order book, 22 min ago; Gate: live order book, 5 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, 22 min ago	2.60 bp	9.5 bp −$10	19.0 bp −$190	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.07 bp	11.4 bp −$11	28.6 bp −$286	77.3 bp −$7,727	doesn't fit

DELL on 20 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 DELLUSDT	0.0000%	8h	578.74	−0.184%	$21K	$50K	20x	as long as short
Injective DELL/USDC PERP	+0.0033%	1h	571.67	−1.404%	$8K	$83K	12x	as long as short
edgeX DELLUSDC	+0.0078%	4h	580.49	+0.118%	$5K	$333K	10x	as long as short
KuCoin DELLUSDTM	+0.0100%	8h	579.40	−0.071%	$949K	$30K	20x	as long as short
Orderly PERP_DELL_USDC_mythos	+0.0100%	8h	580.49	+0.117%	$3K	$336	10x	as long as short
HTX DELL-USDT	+0.0100%	8h	580.85	+0.179%	$18K	$58K	10x	as long as short
Lighter DELL	+0.0112%	1h	579.96	+0.026%	$34K	$12K	10x	as long as short
Bitget DELLUSDT	+0.0190%	8h	580.16	+0.060%	$3.5M	$4.7M	20x	as long as short
Variational Omni DELL	+0.0301%	8h	580.40	+0.102%	$262K	$81K	—	as long as short
BloFin DELL-USDT	+0.0413%	8h	580.46	+0.112%	$319K	$223K	20x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended DELL-USD	+0.0424%	1h	580.48	+0.116%	$335K	$1.2M	10x	as long as short
Binance DELLUSDT	+0.0437%	8h	580.58	+0.133%	$18.8M	$66.0M	20x	as long as short
tradeXYZ xyz:DELL	+0.0568%	1h	579.37	−0.076%	$7.4M	$6.9M	10x	as long as short
OKX DELL-USDT-SWAP	+0.0636%	8h	580.57	+0.131%	$5.9M	$6.5M	20x	as long as short
Gate DELL_USDTshort	+0.0683%	8h	579.97	+0.028%	$4.2M	$7.5M	50x
Bybit DELLUSDT	+0.0733%	8h	579.94	+0.022%	$6.1M	$3.9M	50x	as long as short
Phoenix DELLlong	+0.0790%	1h	579.81	long leg	$3K	$280K	10x
Nado DELL-PERP	+0.0854%	1h	579.07	−0.128%	$69K	$13K	10x	as long as short
Polymarket Perps DELL-USD	+0.1094%	1h	580.22	+0.071%	$9K	$53K	10x	as long as short
GRVT DELL_USDT_Perp	+0.1754%	8h	580.55	+0.128%	$1K	$167K	10x	as long as short