Funding you earn now, next payment 04:00 UTC−0.0199%/8h= −21.8% APRpaid last 24h −0.024%
Price spread now: BloFin against Phoenix−0.028%106s7-day average −0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$61as 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−$490.490% of the position
Funding, last 7 days−0.119%−$12 on $10k
+Price spread, last 4 days (all we have)+0.045%+$5 · spread now −0.028%, 7d avg −0.004%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and BloFin is 0.024% cheaper against Phoenix than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.004%). Swap the legs. The two prices were read 106 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.119% in total (about -6.2% 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 | Phoenix AMAT | 467.36 | 0.0222 | pay 0.0028% / 1h | 43m 25s | $19K | $110K | 10x |
| Short | BloFin AMAT-USDT | 467.23 | 0.0023 | get 0.0023% / 8h | 3h 43m | $109K | $100K | 20x |
Phoenix AMAT
BloFin AMAT-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$41.73
- Price spread: −0.028% → −0.004%
- −$2.38
- Slippage, 4 orders
- −$30.05
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$93.15
- Costs to cover
- 0.490%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 2 min ago; BloFin: live order book, 45 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, 2 min ago | 3.64 bp | 11.8 bp −$12 | 24.8 bp −$248 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 45 min ago | 1.06 bp | 12.0 bp −$12 | 27.6 bp −$276 | 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 | 467.17 | −0.040% | $10K | $11K | 20x | as long as short |
| Extended AMAT-USD | 0.0000% | 1h | 466.86 | −0.108% | $5K | $27K | 10x | as long as short |
| Binance AMATUSDT | 0.0000% | 8h | 466.97 | −0.083% | $8.8M | $12.9M | 20x | as long as short |
| Bybit AMATUSDT | 0.0000% | 8h | 466.99 | −0.079% | $892K | $657K | 25x | as long as short |
| OKX AMAT-USDT-SWAP | 0.0000% | 8h | 467.60 | +0.051% | $1.4M | $1.6M | 20x | as long as short |
| Bitget AMATUSDT | 0.0000% | 8h | 467.17 | −0.041% | $2.0M | $1.7M | 20x | as long as short |
| Variational Omni AMAT | 0.0000% | 8h | 467.52 | +0.034% | $65K | $44K | — | as long as short |
| GRVT AMAT_USDT_Perp | 0.0000% | 8h | 467.12 | −0.051% | $504 | $101K | 10x | as long as short |
| BloFin AMAT-USDTshort | +0.0023% | 8h | 467.23 | −0.028% | $109K | $100K | 20x | |
| Vest AMAT-USD-PERP | +0.0046% | 1h | 466.50 | −0.184% | — | — | 10x | as long as short |
Aster AMATUSDT
Extended AMAT-USD
Binance AMATUSDT
Bybit AMATUSDT
OKX AMAT-USDT-SWAP
Bitget AMATUSDT
Variational Omni AMAT
GRVT AMAT_USDT_Perp
Vest AMAT-USD-PERPShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:AMAT | +0.0050% | 1h | 466.69 | −0.143% | $2.6M | $2.2M | 10x | as long as short |
| KuCoin AMATUSDTM | +0.0100% | 8h | 466.81 | −0.118% | $410K | $535K | 20x | as long as short |
| SunX AMAT-USDT | +0.0100% | 8h | 465.24 | −0.454% | $940 | $368K | 10x | as long as short |
| HTX AMAT-USDT | +0.0100% | 8h | 468.61 | +0.267% | $170K | $39K | 20x | as long as short |
| Phoenix AMATlong | +0.0222% | 1h | 467.36 | long leg | $19K | $110K | 10x | |
| Gate AMAT_USDT | +0.0239% | 8h | 466.80 | −0.120% | $1.6M | $6.4M | 50x | as long as short |
tradeXYZ xyz:AMAT
KuCoin AMATUSDTM
SunX AMAT-USDT
HTX AMAT-USDT
Gate AMAT_USDT