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 +0.041%

Price spread now: Phoenix against Variational Omni+0.132%99s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Phoenix is 0.132% dearer against Variational Omni than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 99 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	Variational Omni AMAT	458.58	0	get 0.0000% / 8h	1h 27m	$64K	$44K	—
Short	Phoenix AMAT	459.19	0.0277	get 0.0035% / 1h	27m 37s	$18K	$114K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Variational Omni. 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 Variational OmnibpFee PhoenixbpOrdersPrice spread, now +0.132%Rate

Funding earned: $58.19
Price spread: +0.132% → 0.000%: $13.2
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $64.39
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; Phoenix: live order book, 8 min ago. Net counts fees only.

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 Variational Omni no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 8 min ago	3.92 bp	12.2 bp −$12	25.9 bp −$259	doesn't fit	doesn't fit

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0547%	8h	459.14	+0.121%	$1.9M	$1.8M	20x	as long as short
BloFin AMAT-USDT	−0.0023%	8h	459.10	+0.112%	$108K	$115K	20x	as long as short
Aster AMATUSDT	0.0000%	8h	459.21	+0.135%	$10K	$11K	20x	as long as short
Extended AMAT-USD	0.0000%	1h	458.97	+0.084%	$5K	$27K	10x	as long as short
Binance AMATUSDT	0.0000%	8h	459.00	+0.091%	$8.3M	$14.1M	20x	as long as short
Bybit AMATUSDT	0.0000%	8h	458.85	+0.058%	$838K	$693K	25x	as long as short
OKX AMAT-USDT-SWAP	0.0000%	8h	459.19	+0.132%	$1.3M	$1.6M	20x	as long as short
Gate AMAT_USDT	0.0000%	8h	459.30	+0.156%	$1.5M	$6.1M	50x	as long as short
Variational Omni AMATlong	0.0000%	8h	458.58	long leg	$64K	$44K	—
GRVT AMAT_USDT_Perp	0.0000%	8h	458.54	−0.010%	$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	459.09	+0.110%	—	—	10x	as long as short
tradeXYZ xyz:AMAT	+0.0075%	1h	458.70	+0.025%	$2.5M	$2.3M	10x	as long as short
KuCoin AMATUSDTM	+0.0100%	8h	458.35	−0.051%	$396K	$546K	20x	as long as short
SunX AMAT-USDT	+0.0100%	8h	458.85	+0.058%	$977	$386K	10x	as long as short
HTX AMAT-USDT	+0.0100%	8h	460.08	+0.326%	$167K	$39K	20x	as long as short
Phoenix AMATshort	+0.0277%	1h	459.19	+0.132%	$18K	$114K	10x