Funding you earn now, next payment 08:00 UTC+0.0031%/8h= +3.3% APRnext payment +$0.31 per $10,000 · paid last 24h −0.007%
Price spread now: Phemex against BloFin+0.163%59s7-day average +0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs−$78as 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−$630.633% of the position
Funding, last 7 days−0.144%−$14 on $10k
+Price spread, last 4 days (all we have)+0.090%+$9 · spread now +0.163%, 7d avg +0.011%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phemex is 0.152% dearer against BloFin than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.011%. Mind the row above: over the last 7 days funding on this pair cost −0.144%, so the current rate has only just turned in your favour. The two prices were read 59 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 | BloFin ARB-USDT | 0.2209 | 0.0069 | pay 0.0069% / 8h | 4h 26m | $3.1M | $2.6M | 75x |
| Short | Phemex ARBUSDT | 0.2213 | 0.0100 | get 0.0100% / 8h | 4h 26m | $5.0M | $13.0M | 50x |
BloFin ARB-USDT
Phemex ARBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against BloFin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $6.42
- Price spread: +0.163% → +0.011%
- $15.18
- Slippage, 4 orders
- −$39.29
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$41.69
- Costs to cover
- 0.633%
- Break-even
- 52.5 days
Slippage from BloFin: live order book, 7 min ago; Phemex: live order book, 3 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 BloFin live order book, 7 min ago | 0.46 bp | 8.3 bp −$8 | 12.8 bp −$128 | 41.9 bp −$4,188 | doesn't fit |
| Sell Phemex live order book, 3 min ago | 6.80 bp | 19.6 bp −$20 | 30.2 bp −$302 | 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 | −0.1649% | 1h | 0.2203 | −0.290% | $40K | $372K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0168% | 1h | 0.2212 | +0.100% | $7K | $2K | 10x | as long as short |
| MEXC ARB_USDT | −0.0133% | 8h | 0.2213 | +0.181% | $42.2M | $60.7M | 200x | as long as short |
| OKX ARB-USDT-SWAP | −0.0132% | 8h | 0.2215 | +0.240% | $22.3M | $149.5M | 50x | as long as short |
| Polymarket Perps ARB-USD | −0.0127% | 1h | 0.2211 | +0.068% | $92K | $2.2M | 10x | as long as short |
| Variational Omni ARB | −0.0101% | 8h | 0.2211 | +0.074% | $1.8M | $2.9M | — | as long as short |
| Orderly PERP_ARB_USDC | −0.0074% | 8h | 0.2212 | +0.118% | $12K | $395K | 10x | as long as short |
| Gate ARB_USDT | −0.0063% | 8h | 0.2215 | +0.244% | $5.4M | $18.8M | 60x | as long as short |
| Bybit ARBUSDT | −0.0024% | 8h | 0.2214 | +0.208% | $55.9M | $126.9M | 50x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0006% | 1h | 0.2213 | +0.165% | $1.1M | $4.4M | 50x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
MEXC ARB_USDT
OKX ARB-USDT-SWAP
Polymarket Perps ARB-USD
Variational Omni ARB
Orderly PERP_ARB_USDC
Gate ARB_USDT
Bybit ARBUSDT
Kraken Futures PF_ARBUSDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX ARB-USD | 0.0000% | 1h | 0.2214 | +0.189% | $65K | $5K | 10x | as long as short |
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2213 | +0.163% | $24K | $34K | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0006% | 1h | 0.2212 | +0.138% | $32K | — | 150x | as long as short |
| Extended ARB-USD | +0.0016% | 1h | 0.2211 | +0.074% | $352K | $2.5M | 25x | as long as short |
| Binance ARBUSDT | +0.0017% | 8h | 0.2215 | +0.235% | $64.4M | $307.8M | 75x | as long as short |
| BingX ARB-USDC | +0.0065% | 8h | 0.2213 | +0.172% | — | $6.5M | — | as long as short |
| Bitget ARBUSDT | +0.0067% | 8h | 0.2214 | +0.208% | $21.0M | $34.9M | 50x | as long as short |
| BloFin ARB-USDTlong | +0.0069% | 8h | 0.2209 | long leg | $3.1M | $2.6M | 75x | |
| SoDEX ARB-USD | +0.0070% | 1h | 0.2213 | +0.140% | $10K | $2.3M | 5x | as long as short |
| Aevo ARB-PERP | +0.0088% | 1h | 0.2213 | +0.159% | $140K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2212 | +0.131% | $1.2M | $5.7M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2216 | +0.294% | $38.1M | $48.9M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2212 | +0.101% | $637K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2212 | +0.106% | $43K | $169K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2213 | +0.167% | $19.6M | $15.0M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2203 | −0.301% | $40K | $463K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2204 | −0.244% | $477K | $3.6M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2215 | +0.253% | $119K | $284K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2215 | +0.253% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2213 | +0.177% | $300K | $952K | 50x | as long as short |
| Phemex ARBUSDTshort | +0.0100% | 8h | 0.2213 | +0.163% | $5.0M | $13.0M | 50x | |
| Coinbase International ARB-PERP-INTX | +0.0224% | 1h | 0.2216 | +0.285% | $494K | $2.0M | 50x | as long as short |
| RISEx ARB/USDC | +0.0225% | 1h | 0.2211 | +0.091% | $465K | $2.6M | 10x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0276% / S −0.0159% | 1h | 0.2212 | +0.130% | $834K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0289% | 1h | 0.2211 | +0.061% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERP | +0.0639% | 1h | 0.2217 | +0.349% | $999K | $2.8M | 20x | as long as short |
dYdX ARB-USD
Deribit ARB_USDC-PERPETUAL
gTrade (Gains Network) ARB/USD
Extended ARB-USD
Binance ARBUSDT
BingX ARB-USDC
Bitget ARBUSDT
SoDEX ARB-USD
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
Coinbase International ARB-PERP-INTX
RISEx ARB/USDC
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
Backpack ARB_USDC_PERP