Funding arb · Price arb /

AMAT

RWAall AMAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0222%/8h= +24.3% APRpaid last 24h +0.080%

Price spread now: Phoenix against Bybit+0.459%65s7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as 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−$590.593% of the position

Long on Bybit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.492%+$49 on $10k

Price spread, last 4 days (all we have)−0.167%−$17 · spread now +0.459%, 7d avg +0.067%

Together, before fees+0.325%+$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.392% dearer against Bybit than usual: you sell high and buy low: +$39 more if the spread goes back to its 7-day average of +0.067%. The two prices were read 65 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 AMATUSDT	462.32	0	get 0.0000% / 8h	3h 18m	$867K	$670K	25x
Short	Phoenix AMAT	464.44	0.0222	get 0.0028% / 1h	18m 15s	$19K	$110K	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 +0.459%Rate

Funding earned: $46.6
Price spread: +0.459% → +0.067%: $39.16
Slippage, 4 orders: −$41.33
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $26.43
Costs to cover: 0.593%
Break-even: 3.0 days

Slippage from Bybit: live order book, 32 min ago; Phoenix: live order book, 27 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, 32 min ago	3.75 bp	14.5 bp −$14	100.5 bp −$1,005	doesn't fit	doesn't fit
Sell Phoenix live order book, 27 min ago	3.64 bp	11.8 bp −$12	24.8 bp −$248	doesn't fit	doesn't fit

AMAT on 16 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 AMATUSDT	0.0000%	8h	463.03	+0.153%	$10K	$11K	20x	as long as short
Extended AMAT-USD	0.0000%	1h	462.11	−0.045%	$5K	$27K	10x	as long as short
Binance AMATUSDT	0.0000%	8h	462.51	+0.041%	$8.6M	$13.2M	20x	as long as short
Bybit AMATUSDTlong	0.0000%	8h	462.32	long leg	$867K	$670K	25x
OKX AMAT-USDT-SWAP	0.0000%	8h	462.67	+0.076%	$1.4M	$1.6M	20x	as long as short
Bitget AMATUSDT	0.0000%	8h	463.20	+0.190%	$2.0M	$1.7M	20x	as long as short
Variational Omni AMAT	0.0000%	8h	464.37	+0.444%	$65K	$44K	—	as long as short
GRVT AMAT_USDT_Perp	0.0000%	8h	464.26	+0.420%	$399	$104K	10x	as long as short
BloFin AMAT-USDT	+0.0003%	8h	463.01	+0.149%	$109K	$103K	20x	as long as short
Vest AMAT-USD-PERP	+0.0046%	1h	462.81	+0.106%	—	—	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:AMAT	+0.0050%	1h	462.59	+0.058%	$2.6M	$2.2M	10x	as long as short
Gate AMAT_USDT	+0.0059%	8h	462.60	+0.061%	$1.6M	$6.5M	50x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	462.95	+0.136%	$404K	$542K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	461.18	−0.247%	$1K	$372K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	464.86	+0.549%	$169K	$39K	20x	as long as short
Phoenix AMATshort	+0.0222%	1h	464.44	+0.459%	$19K	$110K	10x