Funding arb · Price arb /

AMAT

RWAall AMAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0258%/8h= −28.3% APRpaid last 24h −0.053%

Price spread now: Bitget against Phoenix+0.011%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$620.619% of the position

Long on Phoenix Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.418%−$42 on $10k

Price spread, last 3 days (all we have)−0.273%−$27 · spread now +0.011%, 7d avg −0.021%

Together, before fees−0.691%−$69 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.032% dearer against Phoenix than usual: you sell high and buy low (spread +0.011% now, against its 7-day average of −0.021%): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AMAT	464.77	0.0258	pay 0.0032% / 1h	49m 13s	$19K	$131K	10x
Short	Bitget AMATUSDT	464.82	0	get 0.0000% / 8h	1h 49m	$2.1M	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$54.25
Price spread: +0.011% → −0.021%: $3.18
Slippage, 4 orders: −$42.86
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$112.92
Costs to cover: 0.619%
Break-even: never at this rate

Slippage from Phoenix: live order book, 26 min ago; Bitget: 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, 26 min ago	3.87 bp	12.1 bp −$12	25.9 bp −$259	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	10.75 bp	20.1 bp −$20	59.4 bp −$594	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	464.36	−0.088%	$10K	$11K	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	464.76	−0.002%	$935K	$666K	25x	as long as short
OKX AMAT-USDT-SWAP	0.0000%	8h	464.86	+0.019%	$1.4M	$1.6M	20x	as long as short
Gate AMAT_USDT	0.0000%	8h	464.90	+0.028%	$2.0M	$6.5M	50x	as long as short
Bitget AMATUSDTshort	0.0000%	8h	464.82	+0.011%	$2.1M	$1.8M	20x
Variational Omni AMAT	0.0000%	8h	464.93	+0.033%	$76K	$21K	—	as long as short
Vest AMAT-USD-PERP	+0.0046%	1h	464.58	−0.041%	—	—	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	464.24	−0.114%	$404K	$380K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	465.04	+0.058%	$1K	$389K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	465.77	+0.215%	$169K	$39K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended AMAT-USD	+0.0128%	1h	464.63	−0.031%	$5K	$40K	10x	as long as short
Binance AMATUSDT	+0.0128%	8h	464.72	−0.012%	$8.9M	$12.8M	20x	as long as short
BloFin AMAT-USDT	+0.0131%	8h	464.60	−0.037%	$109K	$78K	20x	as long as short
Phoenix AMATlong	+0.0258%	1h	464.77	long leg	$19K	$131K	10x
tradeXYZ xyz:AMAT	+0.0304%	1h	464.66	−0.024%	$2.6M	$2.7M	10x	as long as short
GRVT AMAT_USDT_Perp	+0.0348%	8h	464.95	+0.039%	$507	$114K	10x	as long as short