Funding arb · Price arb /

INTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1211%/8h= +132.6% APRpaid last 24h −0.015%

Price spread now: Phoenix against Bitget−0.348%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 4 days (all we have)+0.533%+$53 · spread now −0.348%, 7d avg −0.054%

Together, before fees+0.577%+$58 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.294% cheaper against Bitget than usual: you would sell low and buy high (spread −0.348% now, against its 7-day average of −0.054%). If the spread goes back, that is −$29 on $10k: about 19 hours of funding at the current rate (+$36 a day). At the pace of the last 7 days (+0.043% in total) that is about 48 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.043% in total (about 2.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget INTCUSDT	120.55	−0.1012	get 0.1012% / 8h	1h 29m	$25.2M	$32.2M	50x
Short	Phoenix INTC	120.13	0.0199	get 0.0025% / 1h	29m 29s	$46K	$239K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bitget. 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 BitgetbpFee PhoenixbpOrdersPrice spread, now −0.348%Rate

Funding earned: $254.22
Price spread: −0.348% → −0.054%: −$29.44
Slippage, 4 orders: −$20.57
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $185.22
Costs to cover: 0.396%
Break-even: 1.9 days

Slippage from Bitget: live order book, 4 min ago; Phoenix: live order book, 11 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 Bitget live order book, 4 min ago	1.66 bp	9.1 bp −$9	14.1 bp −$141	23.0 bp −$2,296	doesn't fit
Sell Phoenix live order book, 11 min ago	3.33 bp	11.1 bp −$11	24.3 bp −$243	doesn't fit	doesn't fit

INTC on 33 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 INTCUSDTlong	−0.1012%	8h	120.55	long leg	$25.2M	$32.2M	50x
Aster INTCUSDT	0.0000%	8h	120.53	−0.019%	$424K	$668K	20x	as long as short
Bybit INTCUSDT	0.0000%	8h	120.43	−0.100%	$12.8M	$28.5M	50x	as long as short
Gate INTC_USDT	0.0000%	8h	120.51	−0.033%	$8.0M	$30.8M	75x	as long as short
GRVT INTC_USDT_Perp	0.0000%	8h	120.18	−0.305%	$900K	$1.4M	10x	as long as short
Deribit INTC_USDC-PERPETUAL	0.0000%	1h	120.22	−0.274%	$20K	$108K	10x	as long as short
Phemex INTCUSDT	0.0000%	8h	120.33	−0.182%	$1.7M	$50K	10x	as long as short
OKX INTC-USDT-SWAP	+0.0021%	8h	120.40	−0.124%	$18.0M	$67.4M	25x	as long as short
Variational Omni INTC	+0.0022%	8h	120.18	−0.304%	$2.1M	$2.5M	—	as long as short
Aftermath Perps INTCUSD	+0.0031%	1h	120.17	−0.316%	$2K	$55K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH INTC	+0.0032%	1h	120.44	−0.091%	$669K	$2.9M	10x	as long as short
Injective INTC/USDC PERP	+0.0033%	1h	121.34	+0.655%	$213	$22K	12x	as long as short
Arcus INTC-USD	+0.0040%	1h	120.19	−0.299%	$91K	$307K	10x	as long as short
Vest INTC-USD-PERP	+0.0046%	1h	120.24	−0.257%	—	$1.5M	25x	as long as short
QFEX INTC-USD	+0.0047%	1h	120.52	−0.025%	$1.3M	$10.1M	10x	as long as short
SoDEX INTC-USD	+0.0050%	1h	120.21	−0.280%	$27K	$4K	10x	as long as short
Ondo Perps INTC-USD.P	+0.0050%	1h	120.08	−0.390%	$1.2M	$2.4M	10x	as long as short
Binance INTCUSDT	+0.0062%	8h	120.45	−0.083%	$69.3M	$397.7M	25x	as long as short
Extended INTC_24_5-USD	+0.0064%	1h	120.48	−0.056%	$332K	$961K	10x	as long as short
Polymarket Perps INTC-USD	+0.0064%	1h	120.44	−0.091%	$215K	$521K	10x	as long as short
Paradex INTC-USD-PERP	+0.0082%	8h	120.46	−0.075%	—	—	5x	as long as short
Aevo INTC-PERP	+0.0096%	1h	120.23	−0.263%	$48K	—	10x	as long as short
ApeX Omni INTCUSDT	+0.0100%	1h	120.30	−0.207%	$47K	$259K	50x	as long as short
Orderly PERP_INTC_USDC_mythos	+0.0100%	8h	120.22	−0.274%	$4K	$3K	10x	as long as short
Lighter INTC	+0.0104%	1h	120.43	−0.096%	$1.4M	$1.9M	10x	as long as short
KuCoin INTCUSDTM	+0.0106%	8h	120.36	−0.158%	$1.1M	$105K	20x	as long as short
Coinbase International INTC-PERP-INTX	+0.0128%	1h	120.15	−0.332%	$240K	$837K	10x	as long as short
Nado INTC-PERP	+0.0137%	1h	120.39	−0.131%	$157K	$287K	10x	as long as short
edgeX INTCUSDC	+0.0174%	4h	120.17	−0.318%	$85K	$296K	10x	as long as short
BloFin INTC-USDT	+0.0182%	8h	120.16	−0.324%	$894K	$308K	25x	as long as short
tradeXYZ xyz:INTC	+0.0196%	1h	120.39	−0.133%	$143.8M	$63.2M	10x	as long as short
Phoenix INTCshort	+0.0199%	1h	120.13	−0.348%	$46K	$239K	10x
RISEx INTC/USDC	+0.0239%	1h	120.23	−0.264%	$315K	$320K	10x	as long as short