Funding arb · Price arb /

INTC

RWAall INTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0198%/8h= +21.7% APRpaid last 24h +0.039%

Price spread now: Phoenix against Bybit−0.140%66s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as 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−$460.459% of the position

Long on Bybit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.253%+$25 on $10k

Price spread, last 4 days (all we have)+1.297%+$130 · spread now −0.140%, 7d avg −0.012%

Together, before fees+1.550%+$155 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.128% cheaper against Bybit than usual: you would sell low and buy high (spread −0.140% now, against its 7-day average of −0.012%). If the spread goes back, that is −$13 on $10k: about 2.2 days of funding at the current rate (+$6 a day). The two prices were read 66 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	Bybit INTCUSDT	121.40	0	get 0.0000% / 8h	10m 19s	$12.9M	$28.6M	50x
Short	Phoenix INTC	121.23	0.0198	get 0.0025% / 1h	10m 19s	$47K	$236K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bybit. 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 BybitbpFee PhoenixbpOrdersPrice spread, now −0.140%Rate

Funding earned: $41.65
Price spread: −0.140% → −0.012%: −$12.81
Slippage, 4 orders: −$27.87
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$17.03
Costs to cover: 0.459%
Break-even: 9.9 days

Slippage from Bybit: live order book, 3 min ago; Phoenix: live order book, 25 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 Bybit live order book, 3 min ago	0.41 bp	10.4 bp −$10	19.0 bp −$190	doesn't fit	doesn't fit
Sell Phoenix live order book, 25 min ago	4.13 bp	13.0 bp −$13	28.5 bp −$285	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 INTCUSDT	−0.0317%	8h	121.53	+0.107%	$25.3M	$32.4M	50x	as long as short
Aster INTCUSDT	0.0000%	8h	121.34	−0.048%	$429K	$671K	20x	as long as short
Bybit INTCUSDTlong	0.0000%	8h	121.40	long leg	$12.9M	$28.6M	50x
Gate INTC_USDT	0.0000%	8h	121.39	−0.008%	$8.3M	$31.3M	75x	as long as short
GRVT INTC_USDT_Perp	0.0000%	8h	121.31	−0.074%	$909K	$1.5M	10x	as long as short
Deribit INTC_USDC-PERPETUAL	0.0000%	1h	121.34	−0.049%	$20K	$110K	10x	as long as short
Phemex INTCUSDT	0.0000%	8h	121.32	−0.066%	$1.7M	$49K	10x	as long as short
Variational Omni INTC	+0.0010%	8h	121.32	−0.066%	$2.0M	$2.5M	—	as long as short
OKX INTC-USDT-SWAP	+0.0020%	8h	121.42	+0.016%	$18.2M	$68.0M	25x	as long as short
Lighter RH INTC	+0.0032%	1h	121.39	−0.008%	$672K	$2.8M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective INTC/USDC PERP	+0.0033%	1h	121.34	−0.049%	$213	$22K	12x	as long as short
Aftermath Perps INTCUSD	+0.0039%	1h	121.19	−0.170%	$2K	$54K	10x	as long as short
QFEX INTC-USD	+0.0039%	1h	121.37	−0.025%	$1.3M	$10.0M	10x	as long as short
Arcus INTC-USD	+0.0040%	1h	121.21	−0.157%	$91K	$290K	10x	as long as short
Vest INTC-USD-PERP	+0.0046%	1h	121.34	−0.049%	—	$1.5M	25x	as long as short
SoDEX INTC-USD	+0.0050%	1h	121.37	−0.021%	$27K	$4K	10x	as long as short
Ondo Perps INTC-USD.P	+0.0050%	1h	121.07	−0.272%	$1.2M	$2.5M	10x	as long as short
Binance INTCUSDT	+0.0055%	8h	121.41	+0.008%	$69.6M	$396.9M	25x	as long as short
Extended INTC_24_5-USD	+0.0056%	1h	121.38	−0.016%	$334K	$1.9M	10x	as long as short
Coinbase International INTC-PERP-INTX	+0.0056%	1h	120.92	−0.395%	$245K	$819K	10x	as long as short
Polymarket Perps INTC-USD	+0.0076%	1h	121.40	0.000%	$217K	$549K	10x	as long as short
Paradex INTC-USD-PERP	+0.0084%	8h	121.34	−0.051%	—	—	5x	as long as short
Aevo INTC-PERP	+0.0096%	1h	121.40	0.000%	$49K	—	10x	as long as short
ApeX Omni INTCUSDT	+0.0100%	1h	121.34	−0.049%	$47K	$258K	50x	as long as short
Orderly PERP_INTC_USDC_mythos	+0.0100%	8h	121.38	−0.016%	$4K	$3K	10x	as long as short
Nado INTC-PERP	+0.0111%	1h	121.33	−0.060%	$157K	$296K	10x	as long as short
KuCoin INTCUSDTM	+0.0124%	8h	121.32	−0.066%	$1.1M	$114K	20x	as long as short
BloFin INTC-USDT	+0.0175%	8h	121.23	−0.140%	$902K	$309K	25x	as long as short
Phoenix INTCshort	+0.0198%	1h	121.23	−0.140%	$47K	$236K	10x
Lighter INTC	+0.0224%	1h	121.40	−0.002%	$1.4M	$1.9M	10x	as long as short
RISEx INTC/USDC	+0.0230%	1h	121.44	+0.035%	$318K	$316K	10x	as long as short
tradeXYZ xyz:INTC	+0.0289%	1h	121.41	+0.008%	$146.5M	$60.7M	10x	as long as short
edgeX INTCUSDC	+0.0733%	4h	121.20	−0.163%	$86K	$297K	10x	as long as short