Funding arb · Price arb /

SNXX

RWAall SNXX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1268%/8h= −138.9% APRpaid last 24h −0.028%

Price spread now: Phemex against tradeXYZ−0.050%7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$212as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$1741.742% of the position

Long on tradeXYZ Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.380%−$38 on $10k

Price spread, last 4 days (all we have)−0.200%−$20 · spread now −0.050%, 7d avg −0.058%

Together, before fees−0.581%+ Points / potential airdroptradeXYZ: Active · farm board−$58 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.058%, so right now this pair is about funding alone: −$38 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.380% in total (about -21.4% 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	tradeXYZ xyz:SNXX	17.939	0.1268	pay 0.0159% / 1h	58m 58s	$141K	$743K	10x
Short	Phemex SNXXUSDT	17.930	0	get 0.0000% / 8h	4h 58m	$1.6M	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against tradeXYZ. 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 tradeXYZbpFee PhemexbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$266.36
Price spread: −0.050% → −0.058%: $0.74
Slippage, 4 orders: −$144.22
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$439.84
Costs to cover: 1.742%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 18 min ago; Phemex: live order book, 4 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 tradeXYZ live order book, 18 min ago	2.51 bp	23.8 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	13.95 bp	69.8 bp −$70	doesn't fit	doesn't fit	doesn't fit

SNXX on 15 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
edgeX SNXXUSDC	−0.0560%	4h	17.917	−0.121%	$55K	$405K	10x	as long as short
Gate SNXX_USDT	0.0000%	8h	17.932	−0.039%	$4.3M	$17.8M	50x	as long as short
SunX SNXX-USDT	0.0000%	8h	17.920	−0.106%	—	$4.7M	10x	as long as short
HTX SNXX-USDT	0.0000%	8h	17.910	−0.162%	$10K	$4K	10x	as long as short
Phemex SNXXUSDTshort	0.0000%	8h	17.930	−0.050%	$1.6M	$1.5M	20x
KuCoin SNXXUSDTM	+0.0100%	8h	17.910	−0.162%	$212K	$303K	20x	as long as short
Orderly PERP_SNXX_USDC_mythos	+0.0100%	8h	17.930	−0.050%	$1K	$2K	10x	as long as short
OKX SNXX-USDT-SWAP	+0.0145%	8h	17.930	−0.050%	$5.2M	$61.7M	25x	as long as short
Bitget SNXXUSDT	+0.0309%	8h	17.937	−0.011%	$4.1M	$40.5M	20x	as long as short
Bybit SNXXUSDT	+0.0343%	8h	17.930	−0.050%	$3.4M	$18.3M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SNXXUSDT	+0.0520%	8h	17.910	−0.159%	$53K	$573K	20x	as long as short
BloFin SNXX-USDT	+0.0526%	8h	17.930	−0.050%	$286K	$287K	25x	as long as short
MEXC SNXX_USDT	+0.0537%	8h	17.910	−0.162%	$9.3M	$7.7M	50x	as long as short
Binance SNXXUSDT	+0.0541%	8h	17.930	−0.050%	$32.9M	$462.8M	25x	as long as short
tradeXYZ xyz:SNXXlong	+0.1268%	1h	17.939	long leg	$141K	$743K	10x