Funding you earn now, next payment 06:00 UTC−0.0277%/8h= −30.3% APRpaid last 24h −0.073%
Price spread now: OKX against Phoenix−0.059%86s7-day average −0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$92as 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−$790.792% of the position
Funding, last 7 days−0.126%−$13 on $10k
+Price spread, last 4 days (all we have)−0.069%−$7 · spread now −0.059%, 7d avg −0.013%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and OKX is 0.046% cheaper against Phoenix than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.013%). Swap the legs. The two prices were read 86 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 -0.126% in total (about -6.6% 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 | 459.45 | 0.0277 | pay 0.0035% / 1h | 39m 58s | $18K | $114K | 10x |
| Short | OKX AMAT-USDT-SWAP | 459.18 | 0 | get 0.0000% / 8h | 1h 39m | $1.3M | $1.6M | 20x |
Phoenix AMAT
OKX AMAT-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$58.19
- Price spread: −0.059% → −0.013%
- −$4.56
- Slippage, 4 orders
- −$62.23
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$141.98
- Costs to cover
- 0.792%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 60 min ago; OKX: 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, 60 min ago | 3.91 bp | 12.2 bp −$12 | 26.0 bp −$260 | doesn't fit | doesn't fit |
| Sell OKX live order book, 2 min ago | 0.11 bp | 32.3 bp −$32 | 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 | −0.0444% | 8h | 459.34 | −0.024% | $1.9M | $1.8M | 20x | as long as short |
| Aster AMATUSDT | 0.0000% | 8h | 458.82 | −0.137% | $10K | $11K | 20x | as long as short |
| Extended AMAT-USD | 0.0000% | 1h | 458.71 | −0.161% | $5K | $27K | 10x | as long as short |
| Binance AMATUSDT | 0.0000% | 8h | 458.74 | −0.155% | $8.4M | $13.9M | 20x | as long as short |
| Bybit AMATUSDT | 0.0000% | 8h | 458.84 | −0.133% | $840K | $697K | 25x | as long as short |
| OKX AMAT-USDT-SWAPshort | 0.0000% | 8h | 459.18 | −0.059% | $1.3M | $1.6M | 20x | |
| Gate AMAT_USDT | 0.0000% | 8h | 458.80 | −0.141% | $1.5M | $6.1M | 50x | as long as short |
| Variational Omni AMAT | 0.0000% | 8h | 459.03 | −0.090% | $64K | $44K | — | as long as short |
| GRVT AMAT_USDT_Perp | 0.0000% | 8h | 459.76 | +0.067% | $359 | $112K | 10x | as long as short |
| BloFin AMAT-USDT | +0.0008% | 8h | 459.17 | −0.061% | $108K | $113K | 20x | as long as short |
Bitget AMATUSDT
Aster AMATUSDT
Extended AMAT-USD
Binance AMATUSDT
Bybit AMATUSDT
Gate AMAT_USDT
Variational Omni AMAT
GRVT AMAT_USDT_Perp
BloFin AMAT-USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest AMAT-USD-PERP | +0.0046% | 1h | 458.85 | −0.131% | — | — | 10x | as long as short |
| KuCoin AMATUSDTM | +0.0100% | 8h | 458.90 | −0.120% | $397K | $554K | 20x | as long as short |
| SunX AMAT-USDT | +0.0100% | 8h | 459.33 | −0.026% | $804 | $384K | 10x | as long as short |
| HTX AMAT-USDT | +0.0100% | 8h | 459.96 | +0.111% | $167K | $39K | 20x | as long as short |
| tradeXYZ xyz:AMAT | +0.0168% | 1h | 458.74 | −0.155% | $2.5M | $2.3M | 10x | as long as short |
| Phoenix AMATlong | +0.0277% | 1h | 459.45 | long leg | $18K | $114K | 10x |
Vest AMAT-USD-PERP
KuCoin AMATUSDTM
SunX AMAT-USDT
HTX AMAT-USDT
tradeXYZ xyz:AMAT