Funding arb · Price arb /

AMAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0210%/8h= +23.0% APRpaid last 24h +0.047%

Price spread now: Phoenix against HTX−0.215%72s7-day average −0.167% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as 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−$790.794% of the position

Long on HTX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.290%+$29 on $10k

Price spread, last 3 days (all we have)+0.170%+$17 · spread now −0.215%, 7d avg −0.167%

Together, before fees+0.461%+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.048% cheaper against HTX than usual: you would sell low and buy high (spread −0.215% now, against its 7-day average of −0.167%). If the spread goes back, that is −$5 on $10k: about 18 hours of funding at the current rate (+$6 a day). The two prices were read 72 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	HTX AMAT-USDT	464.93	0.0100	pay 0.0100% / 8h	3h 30m	$169K	$39K	20x
Short	Phoenix AMAT	463.93	0.0310	get 0.0039% / 1h	30m 14s	$19K	$127K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against HTX. 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 HTXbpFee PhoenixbpOrdersPrice spread, now −0.215%Rate

Funding earned: $44.03
Price spread: −0.215% → −0.167%: −$4.77
Slippage, 4 orders: −$60.36
Fee HTX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$40.1
Costs to cover: 0.794%
Break-even: 13.4 days

Slippage from HTX: live order book, 16 min ago; Phoenix: live order book, 12 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 HTX live order book, 16 min ago	17.64 bp	28.6 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 12 min ago	2.59 bp	9.5 bp −$9	19.0 bp −$190	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	464.28	−0.141%	$10K	$11K	20x	as long as short
Extended AMAT-USD	0.0000%	1h	464.10	−0.179%	$5K	$40K	10x	as long as short
Binance AMATUSDT	0.0000%	8h	464.08	−0.183%	$8.9M	$12.7M	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	463.98	−0.204%	$952K	$655K	25x	as long as short
OKX AMAT-USDT-SWAP	0.0000%	8h	464.82	−0.024%	$1.4M	$1.6M	20x	as long as short
Gate AMAT_USDT	0.0000%	8h	464.20	−0.157%	$2.0M	$6.5M	50x	as long as short
Bitget AMATUSDT	0.0000%	8h	464.30	−0.136%	$2.1M	$1.7M	20x	as long as short
Variational Omni AMAT	0.0000%	8h	464.00	−0.200%	$76K	$21K	—	as long as short
GRVT AMAT_USDT_Perp	0.0000%	8h	463.82	−0.238%	$673	$126K	10x	as long as short
BloFin AMAT-USDT	+0.0010%	8h	463.79	−0.245%	$110K	$74K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest AMAT-USD-PERP	+0.0046%	1h	463.95	−0.211%	—	—	10x	as long as short
tradeXYZ xyz:AMAT	+0.0050%	1h	464.06	−0.187%	$2.6M	$2.7M	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	463.44	−0.320%	$404K	$404K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	464.17	−0.163%	$900	$386K	10x	as long as short
HTX AMAT-USDTlong	+0.0100%	8h	464.93	long leg	$169K	$39K	20x
Phoenix AMATshort	+0.0310%	1h	463.93	−0.215%	$19K	$127K	10x