Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0119%/8h= −13.0% APRpaid last 24h +0.003%

Price spread now: Phemex against Aevo−0.011%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$190as in the Funding arb table

Net, price: spread back to 7d avg − costs−$177as in the Price arb table

costs, in and out, $10k−$1801.804% of the position

Long on Aevo Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 3 days (all we have)+0.020%+$2 · spread now −0.011%, 7d avg −0.042%

Together, before fees−0.071%−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.031% dearer against Aevo than usual: you sell high and buy low (spread −0.011% now, against its 7-day average of −0.042%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 7 days (−0.091% in total) that is about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ARB-PERP	0.2251	0.0080	pay 0.0010% / 1h	40m 02s	$143K	$7K	3x
Short	Phemex ARBUSDT	0.2251	−0.0039	pay 0.0039% / 8h	7h 40m	$5.1M	$13.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aevo. 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 AevobpFee PhemexbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$24.92
Price spread: −0.011% → −0.042%: $3.09
Slippage, 4 orders: −$152.4
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$202.23
Costs to cover: 1.804%
Break-even: never at this rate

Slippage from Aevo: live order book, 34 min ago; Phemex: live order book, 4 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 Aevo live order book, 34 min ago	37.45 bp	68.8 bp −$69	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	8.89 bp	18.3 bp −$18	30.6 bp −$306	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1666%	1h	0.2237	−0.633%	$40K	$372K	12x	as long as short
Bybit ARBUSDT	−0.0249%	8h	0.2248	−0.149%	$58.0M	$127.0M	50x	as long as short
Variational Omni ARB	−0.0214%	8h	0.2246	−0.238%	$1.9M	$2.8M	—	as long as short
01 Exchange ARBUSD	−0.0144%	1h	0.2249	−0.118%	$7K	$2K	10x	as long as short
Kraken Futures PF_ARBUSD	−0.0138%	1h	0.2252	+0.039%	$1.1M	$4.9M	50x	as long as short
MEXC ARB_USDT	−0.0118%	8h	0.2248	−0.122%	$38.4M	$59.0M	200x	as long as short
OKX ARB-USDT-SWAP	−0.0117%	8h	0.2248	−0.122%	$22.6M	$157.1M	50x	as long as short
Orderly PERP_ARB_USDC	−0.0045%	8h	0.2251	−0.011%	$12K	$387K	10x	as long as short
Phemex ARBUSDTshort	−0.0039%	8h	0.2251	−0.011%	$5.1M	$13.0M	50x
SoDEX ARB-USD	−0.0037%	1h	0.2250	−0.056%	$4K	$2.6M	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	−0.0017%	1h	0.2251	−0.029%	$25K	$34K	25x	as long as short
Extended ARB-USD	−0.0016%	1h	0.2248	−0.132%	$357K	$2.9M	25x	as long as short
Binance ARBUSDT	−0.0013%	8h	0.2249	−0.099%	$66.2M	$311.3M	75x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2248	−0.160%	$66K	$4K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2252	+0.014%	$55K	—	150x	as long as short
BingX ARB-USDC	+0.0056%	8h	0.2247	−0.171%	—	$6.5M	—	as long as short
Gate ARB_USDT	+0.0060%	8h	0.2250	−0.060%	$5.4M	$19.7M	60x	as long as short
Bitget ARBUSDT	+0.0060%	8h	0.2250	−0.056%	$21.4M	$36.0M	50x	as long as short
Aevo ARB-PERPlong	+0.0080%	1h	0.2251	long leg	$143K	$7K	3x
Lighter ARB	+0.0096%	1h	0.2252	+0.024%	$1.4M	$7.3M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2252	+0.024%	$40.6M	$47.6M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2250	−0.078%	$699K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2248	−0.149%	$44K	$187K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2250	−0.056%	$19.6M	$16.0M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2248	−0.122%	$40K	$460K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2250	−0.055%	$490K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2250	−0.056%	$121K	$296K	50x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2250	−0.047%	$65K	$2.0M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2251	−0.011%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2250	−0.056%	$293K	$1.0M	50x	as long as short
BloFin ARB-USDT	+0.0107%	8h	0.2248	−0.158%	$3.1M	$2.8M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0232%	1h	0.2252	+0.051%	$507K	$2.2M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0290% / S −0.0177%	1h	0.2251	−0.015%	$896K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2249	−0.102%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0384%	1h	0.2251	−0.007%	$503K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0430%	1h	0.2253	+0.082%	$1.0M	$2.8M	20x	as long as short