Funding arb · Price arb /

AMAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0277%/8h= −30.3% APRpaid last 24h +0.006%

Price spread now: Gate against Phoenix+0.024%7-day average −0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$580.581% of the position

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.385%−$39 on $10k

Price spread, last 4 days (all we have)−0.220%−$22 · spread now +0.024%, 7d avg −0.041%

Together, before fees−0.605%−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.065% dearer against Phoenix than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of −0.041%): +$6 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix AMAT	459.19	0.0277	pay 0.0035% / 1h	29m 21s	$18K	$114K	10x
Short	Gate AMAT_USDT	459.30	0	get 0.0000% / 8h	1h 29m	$1.5M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.024%Rate

Funding earned: −$58.19
Price spread: +0.024% → −0.041%: $6.48
Slippage, 4 orders: −$36.1
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$109.81
Costs to cover: 0.581%
Break-even: never at this rate

Slippage from Phoenix: live order book, 6 min ago; Gate: 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 Phoenix live order book, 6 min ago	3.92 bp	12.2 bp −$12	25.9 bp −$259	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	4.36 bp	18.1 bp −$18	120.0 bp −$1,200	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
Bitget AMATUSDT	−0.0548%	8h	459.62	+0.094%	$1.9M	$1.8M	20x	as long as short
BloFin AMAT-USDT	−0.0026%	8h	458.44	−0.163%	$108K	$114K	20x	as long as short
Aster AMATUSDT	0.0000%	8h	459.59	+0.088%	$10K	$11K	20x	as long as short
Extended AMAT-USD	0.0000%	1h	459.16	−0.006%	$5K	$27K	10x	as long as short
Binance AMATUSDT	0.0000%	8h	459.27	+0.018%	$8.3M	$14.1M	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	459.29	+0.022%	$839K	$693K	25x	as long as short
OKX AMAT-USDT-SWAP	0.0000%	8h	459.51	+0.070%	$1.3M	$1.6M	20x	as long as short
Gate AMAT_USDTshort	0.0000%	8h	459.30	+0.024%	$1.5M	$6.1M	50x
Variational Omni AMAT	0.0000%	8h	458.58	−0.132%	$64K	$44K	—	as long as short
GRVT AMAT_USDT_Perp	0.0000%	8h	458.54	−0.142%	$417	$112K	10x	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	459.03	−0.035%	—	—	10x	as long as short
tradeXYZ xyz:AMAT	+0.0085%	1h	459.17	−0.004%	$2.5M	$2.3M	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	458.72	−0.102%	$397K	$548K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	458.85	−0.074%	$977	$386K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	460.08	+0.194%	$167K	$39K	20x	as long as short
Phoenix AMATlong	+0.0277%	1h	459.19	long leg	$18K	$114K	10x