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: Bybit against Phoenix−0.074%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$400.403% of the position

Long on Phoenix Short on Bybit

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−1.082%−$108 · spread now −0.074%, 7d avg +0.012%

Together, before fees−1.336%−$134 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.086% cheaper against Phoenix than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix INTC	121.21	0.0198	pay 0.0025% / 1h	35m 33s	$47K	$236K	10x
Short	Bybit INTCUSDT	121.12	0	get 0.0000% / 8h	35m 33s	$12.9M	$28.8M	50x

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 −0.074%Rate

Funding earned: −$41.65
Price spread: −0.074% → +0.012%: −$8.62
Slippage, 4 orders: −$22.3
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$90.57
Costs to cover: 0.403%
Break-even: never at this rate

Slippage from Phoenix: live order book, 65 min ago; Bybit: live order book, 3 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, 65 min ago	3.33 bp	11.1 bp −$11	24.2 bp −$242	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.82 bp	9.3 bp −$9	14.2 bp −$142	299.8 bp −$30.0K	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	−0.0459%	8h	121.26	+0.041%	$25.3M	$32.5M	50x	as long as short
Aster INTCUSDT	0.0000%	8h	121.12	−0.074%	$426K	$669K	20x	as long as short
Bybit INTCUSDTshort	0.0000%	8h	121.12	−0.074%	$12.9M	$28.8M	50x
Gate INTC_USDT	0.0000%	8h	121.19	−0.017%	$8.2M	$31.1M	75x	as long as short
GRVT INTC_USDT_Perp	0.0000%	8h	121.17	−0.036%	$908K	$1.5M	10x	as long as short
Phemex INTCUSDT	0.0000%	8h	121.12	−0.074%	$1.7M	$49K	10x	as long as short
Variational Omni INTC	+0.0009%	8h	121.11	−0.085%	$2.0M	$2.5M	—	as long as short
OKX INTC-USDT-SWAP	+0.0010%	8h	121.12	−0.074%	$18.1M	$67.9M	25x	as long as short
Aftermath Perps INTCUSD	+0.0031%	1h	121.14	−0.055%	$2K	$55K	10x	as long as short
Lighter RH INTC	+0.0032%	1h	121.20	−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	+0.107%	$213	$22K	12x	as long as short
QFEX INTC-USD	+0.0039%	1h	121.15	−0.050%	$1.3M	$10.1M	10x	as long as short
Arcus INTC-USD	+0.0040%	1h	121.13	−0.066%	$91K	$308K	10x	as long as short
Vest INTC-USD-PERP	+0.0046%	1h	121.12	−0.074%	—	$1.5M	25x	as long as short
Extended INTC_24_5-USD	+0.0048%	1h	121.14	−0.061%	$334K	$1.9M	10x	as long as short
Binance INTCUSDT	+0.0048%	8h	121.13	−0.066%	$69.5M	$399.0M	25x	as long as short
Nado INTC-PERP	+0.0049%	1h	121.08	−0.104%	$157K	$297K	10x	as long as short
Polymarket Perps INTC-USD	+0.0050%	1h	121.11	−0.083%	$217K	$555K	10x	as long as short
SoDEX INTC-USD	+0.0050%	1h	121.11	−0.078%	$27K	$4K	10x	as long as short
Ondo Perps INTC-USD.P	+0.0050%	1h	121.10	−0.091%	$1.2M	$2.5M	10x	as long as short
Coinbase International INTC-PERP-INTX	+0.0056%	1h	120.15	−0.875%	$240K	$817K	10x	as long as short
Paradex INTC-USD-PERP	+0.0074%	8h	121.19	−0.019%	—	—	5x	as long as short
Deribit INTC_USDC-PERPETUAL	+0.0080%	1h	121.11	−0.083%	$20K	$110K	10x	as long as short
Aevo INTC-PERP	+0.0096%	1h	121.16	−0.041%	$49K	—	10x	as long as short
ApeX Omni INTCUSDT	+0.0100%	1h	121.14	−0.058%	$47K	$258K	50x	as long as short
Orderly PERP_INTC_USDC_mythos	+0.0100%	8h	121.15	−0.050%	$4K	$3K	10x	as long as short
KuCoin INTCUSDTM	+0.0111%	8h	121.13	−0.066%	$1.1M	$106K	20x	as long as short
BloFin INTC-USDT	+0.0167%	8h	121.22	+0.008%	$896K	$309K	25x	as long as short
Lighter INTC	+0.0176%	1h	121.21	−0.003%	$1.4M	$1.8M	10x	as long as short
tradeXYZ xyz:INTC	+0.0192%	1h	121.13	−0.066%	$144.6M	$60.4M	10x	as long as short
Phoenix INTClong	+0.0198%	1h	121.21	long leg	$47K	$236K	10x
RISEx INTC/USDC	+0.0230%	1h	121.19	−0.019%	$318K	$328K	10x	as long as short
edgeX INTCUSDC	+0.0984%	4h	121.17	−0.029%	$86K	$295K	10x	as long as short