Funding arb · Price arb /

AMAT

RWAall AMAT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0074%/8h= −8.1% APRpaid last 24h −0.049%

Price spread now: KuCoin against Phoenix−0.109%93s7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$408as 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−$3813.814% of the position

Long on Phoenix Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.262%−$26 on $10k

Price spread, last 4 days (all we have)−0.637%−$64 · spread now −0.109%, 7d avg −0.066%

Together, before fees−0.899%−$90 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and KuCoin is 0.042% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.066%). Swap the legs. The two prices were read 93 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	Phoenix AMAT	460.34	0.0174	pay 0.0022% / 1h	31m 51s	$18K	$114K	10x
Short	KuCoin AMATUSDTM	459.84	0.0100	get 0.0100% / 8h	31m 51s	$398K	$539K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.109%Rate

Funding earned: −$15.48
Price spread: −0.109% → −0.066%: −$4.23
Slippage, 4 orders: −$362.38
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$401.1
Costs to cover: 3.814%
Break-even: never at this rate

Slippage from Phoenix: live order book, 63 min ago; KuCoin: live order book, 2 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, 63 min ago	3.92 bp	12.2 bp −$12	25.9 bp −$259	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	8.16 bp	174.5 bp −$175	doesn't fit	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	−0.0414%	8h	460.44	+0.022%	$1.9M	$1.8M	20x	as long as short
Gate AMAT_USDT	−0.0071%	8h	460.20	−0.030%	$1.6M	$6.0M	50x	as long as short
BloFin AMAT-USDT	−0.0017%	8h	460.09	−0.054%	$107K	$119K	20x	as long as short
tradeXYZ xyz:AMAT	−0.0003%	1h	459.95	−0.085%	$2.1M	$2.6M	10x	as long as short
Aster AMATUSDT	0.0000%	8h	460.13	−0.045%	$10K	$10K	20x	as long as short
Extended AMAT-USD	0.0000%	1h	459.95	−0.086%	$1K	$32K	10x	as long as short
Binance AMATUSDT	0.0000%	8h	460.10	−0.052%	$8.4M	$14.2M	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	460.11	−0.050%	$825K	$702K	25x	as long as short
OKX AMAT-USDT-SWAP	0.0000%	8h	461.12	+0.169%	$1.3M	$1.6M	20x	as long as short
Variational Omni AMAT	0.0000%	8h	460.27	−0.015%	$62K	$45K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT AMAT_USDT_Perp	0.0000%	8h	460.23	−0.023%	$538	$112K	10x	as long as short
Vest AMAT-USD-PERP	+0.0046%	1h	460.09	−0.054%	—	—	10x	as long as short
KuCoin AMATUSDTMshort	+0.0100%	8h	459.84	−0.109%	$398K	$539K	20x
SunX AMAT-USDT	+0.0100%	8h	460.50	+0.035%	$1K	$379K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	461.37	+0.224%	$168K	$39K	20x	as long as short
Phoenix AMATlong	+0.0174%	1h	460.34	long leg	$18K	$114K	10x