Funding arb · Price arb /

ASML

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0140%/8h= −15.4% APRpaid last 24h −0.025%

Price spread now: Bybit against Phoenix+0.069%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Bybit is 0.069% dearer against Phoenix than usual: you sell high and buy low (spread +0.069% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ASML	1,712.2	0.0140	pay 0.0018% / 1h	4m 43s	$819	$18K	10x
Short	Bybit ASMLUSDT	1,713.4	0	get 0.0000% / 8h	2h 04m	$878K	$129K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.069%Rate

Funding earned: −$29.47
Price spread: +0.069% → 0.000%: $6.89
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$40.58
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Bybit: live order book, 15 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 Phoenix no order-book sample	—	—	—	—	—
Sell Bybit live order book, 15 min ago	10.55 bp	28.1 bp −$28	150.8 bp −$1,508	doesn't fit	doesn't fit

Phoenix: 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.

ASML on 17 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 ASMLUSDT	0.0000%	8h	1,712	−0.012%	$14K	$12K	20x	as long as short
Bybit ASMLUSDTshort	0.0000%	8h	1,713.4	+0.069%	$878K	$129K	25x
OKX ASML-USDT-SWAP	0.0000%	8h	1,711.7	−0.029%	$720K	$320K	20x	as long as short
Gate ASML_USDT	0.0000%	8h	1,712.7	+0.030%	$1.1M	$716K	50x	as long as short
Bitget ASMLUSDT	0.0000%	8h	1,713.2	+0.058%	$1.0M	$578K	20x	as long as short
SunX ASML-USDT	0.0000%	8h	1,712.1	−0.006%	$1K	$1.3M	10x	as long as short
HTX ASML-USDT	0.0000%	8h	1,713.3	+0.064%	$10K	$59K	20x	as long as short
Lighter ASML	+0.0032%	1h	1,714.6	+0.140%	$56K	$4K	10x	as long as short
Injective ASML/USDC PERP	+0.0033%	1h	1,702.2	−0.583%	$11K	$37K	12x	as long as short
tradeXYZ xyz:ASML	+0.0050%	1h	1,711.6	−0.035%	$2.8M	$861K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps ASML-USD	+0.0050%	1h	1,712.2	0.000%	$88K	$426K	10x	as long as short
KuCoin ASMLUSDTM	+0.0100%	8h	1,711.3	−0.054%	$213K	$335K	10x	as long as short
Phoenix ASMLlong	+0.0140%	1h	1,712.2	long leg	$819	$18K	10x
BloFin ASML-USDT	+0.0426%	8h	1,712.9	+0.040%	$46K	$103K	20x	as long as short
Extended ASML-USD	+0.0440%	1h	1,712.4	+0.009%	$4K	$237K	10x	as long as short
Binance ASMLUSDT	+0.0444%	8h	1,712.5	+0.019%	$3.5M	$3.2M	20x	as long as short
GRVT ASML_USDT_Perp	+0.0705%	8h	1,713	+0.044%	$565	$206K	10x	as long as short