Funding arb · Price arb /

INTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0264%/8h= −28.9% APRpaid last 24h −0.072%

Price spread now: Gate against Phoenix−0.092%92s7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as 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−$470.471% of the position

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.300%−$30 on $10k

Price spread, last 4 days (all we have)−0.431%−$43 · spread now −0.092%, 7d avg 0.000%

Together, before fees−0.731%−$73 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Gate is 0.092% cheaper against Phoenix than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of 0.000%). Swap the legs. The two prices were read 92 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 INTC	119.59	0.0264	pay 0.0033% / 1h	27m 46s	$46K	$236K	10x
Short	Gate INTC_USDT	119.48	0	get 0.0000% / 8h	7h 27m	$7.7M	$31.1M	75x

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 −0.092%Rate

Funding earned: −$55.39
Price spread: −0.092% → 0.000%: −$9.22
Slippage, 4 orders: −$25.05
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$111.66
Costs to cover: 0.471%
Break-even: never at this rate

Slippage from Phoenix: live order book, 3 min ago; Gate: live order book, 1 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, 3 min ago	3.35 bp	11.9 bp −$12	26.4 bp −$264	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.93 bp	10.6 bp −$11	18.2 bp −$182	42.2 bp −$4,215	88.1 bp −$44.1K

INTC on 33 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 INTCUSDT	0.0000%	8h	119.49	−0.081%	$424K	$674K	20x	as long as short
Bybit INTCUSDT	0.0000%	8h	119.56	−0.025%	$12.8M	$28.3M	50x	as long as short
OKX INTC-USDT-SWAP	0.0000%	8h	119.59	0.000%	$17.8M	$67.2M	25x	as long as short
Gate INTC_USDTshort	0.0000%	8h	119.48	−0.092%	$7.7M	$31.1M	75x
Bitget INTCUSDT	0.0000%	8h	119.60	+0.008%	$25.1M	$30.5M	50x	as long as short
Variational Omni INTC	0.0000%	8h	119.98	+0.322%	$1.8M	$2.7M	—	as long as short
GRVT INTC_USDT_Perp	0.0000%	8h	119.85	+0.215%	$898K	$1.4M	10x	as long as short
Phemex INTCUSDT	0.0000%	8h	119.56	−0.025%	$1.7M	$49K	10x	as long as short
Deribit INTC_USDC-PERPETUAL	+0.0001%	1h	119.45	−0.117%	$20K	$110K	10x	as long as short
edgeX INTCUSDC	+0.0004%	4h	119.90	+0.255%	$85K	$297K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance INTCUSDT	+0.0028%	8h	119.57	−0.021%	$69.0M	$397.8M	25x	as long as short
Lighter RH INTC	+0.0032%	1h	119.57	−0.017%	$661K	$2.8M	10x	as long as short
Extended INTC_24_5-USD	+0.0032%	1h	119.46	−0.107%	$330K	$1.9M	10x	as long as short
Coinbase International INTC-PERP-INTX	+0.0032%	1h	119.44	−0.125%	$255K	$791K	10x	as long as short
Injective INTC/USDC PERP	+0.0033%	1h	121.34	+1.463%	$213	$16K	12x	as long as short
Aftermath Perps INTCUSD	+0.0039%	1h	119.71	+0.100%	$2K	$55K	10x	as long as short
Arcus INTC-USD	+0.0040%	1h	119.42	−0.142%	$87K	$293K	10x	as long as short
Vest INTC-USD-PERP	+0.0046%	1h	119.40	−0.159%	—	$1.5M	25x	as long as short
Polymarket Perps INTC-USD	+0.0050%	1h	119.30	−0.242%	$213K	$512K	10x	as long as short
SoDEX INTC-USD	+0.0050%	1h	119.38	−0.180%	$27K	$4K	10x	as long as short
Ondo Perps INTC-USD.P	+0.0050%	1h	119.37	−0.184%	$1.2M	$2.5M	10x	as long as short
QFEX INTC-USD	+0.0056%	1h	119.41	−0.151%	$1.3M	$9.8M	10x	as long as short
Nado INTC-PERP	+0.0069%	1h	119.36	−0.192%	$155K	$300K	10x	as long as short
Lighter INTC	+0.0080%	1h	119.56	−0.023%	$1.4M	$1.8M	10x	as long as short
Paradex INTC-USD-PERP	+0.0081%	8h	119.52	−0.055%	—	—	5x	as long as short
Aevo INTC-PERP	+0.0088%	1h	119.53	−0.050%	$48K	—	10x	as long as short
ApeX Omni INTCUSDT	+0.0100%	1h	119.74	+0.125%	$46K	$259K	50x	as long as short
Orderly PERP_INTC_USDC_mythos	+0.0100%	8h	119.48	−0.092%	$4K	$3K	10x	as long as short
KuCoin INTCUSDTM	+0.0121%	8h	119.58	−0.008%	$1.1M	$162K	20x	as long as short
BloFin INTC-USDT	+0.0125%	8h	119.39	−0.167%	$896K	$328K	25x	as long as short
tradeXYZ xyz:INTC	+0.0250%	1h	119.53	−0.050%	$144.0M	$58.1M	10x	as long as short
Phoenix INTClong	+0.0264%	1h	119.59	long leg	$46K	$236K	10x
RISEx INTC/USDC	+0.0362%	1h	119.46	−0.105%	$313K	$312K	10x	as long as short