ARB

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0172%/8h= +18.8% APRnext payment +$1.72 per $10,000 · paid last 24h +0.028%

Price spread now: Phemex against Bybit−0.009%7-day average +0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$560.560% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 3 days (all we have)+0.441%+$44 · spread now −0.009%, 7d avg +0.058%

Together, before fees+0.458%+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.067% cheaper against Bybit than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.058%). If the spread goes back, that is −$7 on $10k: about 31 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.017% in total) that is about 28 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ARBUSDT	0.2212	−0.0072	get 0.0072% / 8h	6h 27m	$56.7M	$129.0M	50x
Short	Phemex ARBUSDT	0.2212	0.0100	get 0.0100% / 8h	6h 27m	$5.0M	$13.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now −0.009%Rate

Funding earned: $36.11
Price spread: −0.009% → +0.058%: −$6.73
Slippage, 4 orders: −$32.97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$26.59
Costs to cover: 0.560%
Break-even: 12.2 days

Slippage from Bybit: live order book, 1 min ago; Phemex: live order book, 6 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 Bybit live order book, 1 min ago	0.23 bp	10.0 bp −$10	20.3 bp −$203	51.5 bp −$5,148	doesn't fit
Sell Phemex live order book, 6 min ago	4.51 bp	15.5 bp −$16	27.9 bp −$279	doesn't fit	doesn't fit

ARB on 35 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	−0.1692%	1h	0.2203	−0.416%	$40K	$372K	12x	as long as short
01 Exchange ARBUSD	−0.0248%	1h	0.2212	−0.009%	$7K	$2K	10x	as long as short
SoDEX ARB-USD	−0.0218%	1h	0.2212	0.000%	$10K	$2.5M	5x	as long as short
Variational Omni ARB	−0.0172%	8h	0.2211	−0.058%	$1.9M	$2.9M	—	as long as short
OKX ARB-USDT-SWAP	−0.0117%	8h	0.2211	−0.050%	$22.3M	$156.4M	50x	as long as short
MEXC ARB_USDT	−0.0114%	8h	0.2211	−0.050%	$40.0M	$59.7M	200x	as long as short
ApeX Omni ARBUSDT	−0.0110%	1h	0.2214	+0.081%	$119K	$293K	50x	as long as short
Gate ARB_USDT	−0.0073%	8h	0.2212	0.000%	$5.4M	$19.8M	60x	as long as short
Bybit ARBUSDTlong	−0.0072%	8h	0.2212	long leg	$56.7M	$129.0M	50x
Orderly PERP_ARB_USDC	−0.0059%	8h	0.2213	+0.036%	$13K	$382K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ARBUSDT	−0.0002%	8h	0.2211	−0.054%	$64.5M	$318.1M	75x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2214	+0.096%	$66K	$5K	10x	as long as short
Extended ARB-USD	0.0000%	1h	0.2210	−0.114%	$353K	$2.5M	25x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2213	+0.059%	$24K	$34K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0011%	1h	0.2213	+0.058%	$10K	—	150x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2214	+0.073%	$140K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2212	+0.005%	$1.2M	$7.4M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2213	+0.036%	$38.2M	$51.4M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2212	−0.005%	$659K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2215	+0.118%	$42K	$186K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2213	+0.018%	$19.6M	$15.8M	75x	as long as short
Bitget ARBUSDT	+0.0100%	8h	0.2211	−0.054%	$21.2M	$36.3M	50x	as long as short
BingX ARB-USDT	+0.0100%	8h	0.2211	−0.045%	—	$54.5M	—	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2211	−0.075%	$40K	$460K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2212	+0.003%	$471K	$3.7M	10x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2213	+0.023%	$76K	$2.1M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2212	−0.009%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2212	+0.005%	$297K	$1.0M	50x	as long as short
Phemex ARBUSDTshort	+0.0100%	8h	0.2212	−0.009%	$5.0M	$13.0M	50x
Coinbase International ARB-PERP-INTX	+0.0240%	1h	0.2215	+0.127%	$507K	$2.1M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0273% / S −0.0155%	1h	0.2214	+0.064%	$826K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2211	−0.047%	$2K	$695	20x	as long as short
Kraken Futures PF_ARBUSD	+0.0312%	1h	0.2214	+0.059%	$1.1M	$4.7M	50x	as long as short
RISEx ARB/USDC	+0.0466%	1h	0.2214	+0.068%	$473K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0520%	1h	0.2216	+0.154%	$998K	$2.9M	20x	as long as short