Funding arb · Price arb /

ORCL

RWAall ORCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h −0.038%

Price spread now: Bybit against Phoenix−0.020%7-day average +0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$470.474% of the position

Long on Phoenix Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.669%−$67 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now −0.020%, 7d avg +0.068%

Together, before fees−0.706%−$71 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.089% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.020% now, against its 7-day average of +0.068%). If the spread goes back, that is −$9 on $10k: about 2.0 days of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.669%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix ORCL	149.43	0.0429	pay 0.0054% / 1h	27m 35s	$153K	$75K	10x
Short	Bybit ORCLUSDT	149.40	0.0573	get 0.0573% / 8h	1h 27m	$4.1M	$1.9M	50x

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 −0.020%Rate

Funding earned: $30.31
Price spread: −0.020% → +0.068%: −$8.85
Slippage, 4 orders: −$29.37
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$25.91
Costs to cover: 0.474%
Break-even: 13.0 days

Slippage from Phoenix: live order book, 8 min ago; Bybit: live order book, 10 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, 8 min ago	2.68 bp	10.8 bp −$11	22.9 bp −$229	doesn't fit	doesn't fit
Sell Bybit live order book, 10 min ago	1.67 bp	11.3 bp −$11	21.1 bp −$211	doesn't fit	doesn't fit

ORCL on 28 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
edgeX ORCLUSDC	−0.0893%	4h	149.47	+0.027%	$28K	$213K	10x	as long as short
Aster ORCLUSDT	0.0000%	8h	149.28	−0.097%	$98K	$20K	20x	as long as short
Bitget ORCLUSDT	0.0000%	8h	149.47	+0.027%	$7.7M	$3.8M	20x	as long as short
SunX ORCL-USDT	0.0000%	8h	149.64	+0.141%	$2K	$2.7M	10x	as long as short
HTX ORCL-USDT	0.0000%	8h	149.52	+0.060%	$52K	$25K	20x	as long as short
Lighter ORCL	+0.0032%	1h	149.49	+0.040%	$474K	$54K	10x	as long as short
Lighter RH ORCL	+0.0032%	1h	149.37	−0.040%	$622K	$322K	10x	as long as short
Injective ORCL/USDC PERP	+0.0033%	1h	149.06	−0.248%	$20K	$9K	12x	as long as short
Arcus ORCL-USD	+0.0040%	1h	149.30	−0.087%	$86K	$79K	10x	as long as short
Vest ORCL-USD-PERP	+0.0046%	1h	149.41	−0.013%	—	$67K	25x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:ORCL	+0.0050%	1h	149.26	−0.114%	$21.6M	$6.9M	10x	as long as short
Polymarket Perps ORCL-USD	+0.0050%	1h	149.31	−0.080%	$131K	$92K	10x	as long as short
SoDEX ORCL-USD	+0.0050%	1h	149.39	−0.027%	$30K	$3K	10x	as long as short
Ondo Perps ORCL-USD.P	+0.0050%	1h	149.19	−0.161%	$698K	$894K	10x	as long as short
Nado ORCL-PERP	+0.0060%	1h	149.30	−0.086%	$88K	$22K	10x	as long as short
QFEX ORCL-USD	+0.0065%	1h	149.33	−0.067%	$1.1M	$2.0M	10x	as long as short
ApeX Omni ORACLEUSDT	+0.0100%	1h	149.43	0.000%	$22K	$263K	50x	as long as short
Orderly PERP_ORCL_USDC_mythos	+0.0100%	8h	149.40	−0.020%	$190	—	10x	as long as short
KuCoin ORCLUSDTM	+0.0140%	8h	149.38	−0.033%	$240K	$280K	20x	as long as short
GRVT ORCL_USDT_Perp	+0.0159%	8h	149.39	−0.027%	$1K	$162K	10x	as long as short
Variational Omni ORCL	+0.0162%	8h	149.39	−0.028%	$1.2M	$423K	—	as long as short
Gate ORCL_USDT	+0.0221%	8h	149.45	+0.013%	$2.3M	$3.0M	25x	as long as short
OKX ORCL-USDT-SWAP	+0.0245%	8h	149.36	−0.047%	$4.9M	$6.0M	20x	as long as short
Extended ORCL_24_5-USD	+0.0256%	1h	149.36	−0.046%	$391K	$1.4M	10x	as long as short
Binance ORCLUSDT	+0.0256%	8h	149.39	−0.026%	$24.9M	$36.9M	20x	as long as short
Phoenix ORCLlong	+0.0429%	1h	149.43	long leg	$153K	$75K	10x
Bybit ORCLUSDTshort	+0.0573%	8h	149.40	−0.020%	$4.1M	$1.9M	50x
BloFin ORCL-USDT	+0.0597%	8h	149.56	+0.087%	$47K	$44K	20x	as long as short