Funding you earn now, next payment 00:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.078%
Price spread now: Phemex against Coinbase International−0.044%7-day average −0.143% · you buy dearer than you sell
Net, funding: paid 7d − costs−$131as in the Funding arb table
Net, price: spread back to 7d avg − costs−$85as in the Price arb table
costs, in and out, $10k−$950.952% of the position
Funding, last 7 days−0.353%−$35 on $10k
+Price spread, last 3 days (all we have)−0.061%−$6 · spread now −0.044%, 7d avg −0.143%
=The price spread pays, funding is against you. Phemex is 0.099% dearer against Coinbase International than usual: you sell high and buy low (spread −0.044% now, against its 7-day average of −0.143%): +$10 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.5 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International ARB-PERP-INTX | 0.2264 | 0.0232 | pay 0.0029% / 1h | 14m 24s | $520K | $2.3M | 50x |
| Short | Phemex ARBUSDT | 0.2263 | 0.0100 | get 0.0100% / 8h | 7h 14m | $5.2M | $12.9M | 50x |
Coinbase International ARB-PERP-INTX
Phemex ARBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Coinbase International. 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
- −$27.72
- Price spread: −0.044% → −0.143%
- $9.91
- Slippage, 4 orders
- −$73.2
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$113.01
- Costs to cover
- 0.952%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 4 min ago; Phemex: live order book, 5 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 Coinbase International live order book, 4 min ago | 8.41 bp | 27.9 bp −$28 | 38.4 bp −$384 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 11.09 bp | 20.8 bp −$21 | 230.9 bp −$2,309 | 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 | 0.2256 | −0.353% | $41K | $372K | 12x | as long as short |
| Variational Omni ARB | −0.0201% | 8h | 0.2262 | −0.097% | $2.0M | $2.8M | — | as long as short |
| 01 Exchange ARBUSD | −0.0152% | 1h | 0.2274 | +0.424% | $7K | $2K | 10x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0137% | 1h | 0.2265 | +0.050% | $1.2M | $4.9M | 50x | as long as short |
| Bybit ARBUSDT | −0.0126% | 8h | 0.2274 | +0.433% | $59.2M | $126.7M | 50x | as long as short |
| MEXC ARB_USDT | −0.0112% | 8h | 0.2273 | +0.406% | $39.0M | $59.3M | 200x | as long as short |
| OKX ARB-USDT-SWAP | −0.0110% | 8h | 0.2275 | +0.473% | $23.1M | $158.4M | 50x | as long as short |
| SoDEX ARB-USD | −0.0080% | 1h | 0.2261 | −0.110% | $6K | $2.5M | 5x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0059% | 1h | 0.2262 | −0.071% | $25K | $34K | 25x | as long as short |
| Orderly PERP_ARB_USDC | −0.0049% | 8h | 0.2275 | +0.486% | $12K | $387K | 10x | as long as short |
Injective ARB/USDC PERP
Variational Omni ARB
01 Exchange ARBUSD
Kraken Futures PF_ARBUSD
Bybit ARBUSDT
MEXC ARB_USDT
OKX ARB-USDT-SWAP
SoDEX ARB-USD
Deribit ARB_USDC-PERPETUAL
Orderly PERP_ARB_USDCShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX ARB-USD | 0.0000% | 1h | 0.2268 | +0.178% | $67K | $4K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0006% | 1h | 0.2275 | +0.508% | $33K | — | 150x | as long as short |
| Extended ARB-USD | +0.0016% | 1h | 0.2270 | +0.273% | $364K | $2.5M | 25x | as long as short |
| Binance ARBUSDT | +0.0018% | 8h | 0.2275 | +0.499% | $67.2M | $310.3M | 75x | as long as short |
| BloFin ARB-USDT | +0.0065% | 8h | 0.2263 | −0.062% | $3.2M | $2.9M | 75x | as long as short |
| BingX ARB-USDT | +0.0088% | 8h | 0.2275 | +0.477% | — | $54.3M | — | as long as short |
| Aevo ARB-PERP | +0.0088% | 1h | 0.2263 | −0.047% | $144K | $7K | 3x | as long as short |
| Bitget ARBUSDT | +0.0094% | 8h | 0.2275 | +0.486% | $21.8M | $35.7M | 50x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2269 | +0.234% | $1.4M | $7.3M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2276 | +0.534% | $41.3M | $47.4M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2272 | +0.375% | $707K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2269 | +0.215% | $45K | $184K | 10x | as long as short |
| Gate ARB_USDT | +0.0100% | 8h | 0.2275 | +0.490% | $5.5M | $20.0M | 60x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2275 | +0.504% | $19.8M | $15.8M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2262 | −0.104% | $41K | $464K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2264 | +0.006% | $486K | $3.5M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2263 | −0.044% | $122K | $296K | 50x | as long as short |
| Polymarket Perps ARB-USD | +0.0100% | 1h | 0.2274 | +0.451% | $65K | $2.0M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2265 | +0.044% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2263 | −0.035% | $295K | $979K | 50x | as long as short |
| Phemex ARBUSDTshort | +0.0100% | 8h | 0.2263 | −0.044% | $5.2M | $12.9M | 50x | |
| Coinbase International ARB-PERP-INTXlong | +0.0232% | 1h | 0.2264 | long leg | $520K | $2.3M | 50x | |
| GMX ARB/USD [ARB-USDC] | L +0.0288% / S −0.0175% | 1h | 0.2276 | +0.530% | $900K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2273 | +0.395% | $2K | $695 | 20x | as long as short |
| RISEx ARB/USDC | +0.0384% | 1h | 0.2275 | +0.490% | $524K | $2.6M | 10x | as long as short |
| Backpack ARB_USDC_PERP | +0.0597% | 1h | 0.2267 | +0.137% | $1.0M | $2.8M | 20x | as long as short |
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Extended ARB-USD
Binance ARBUSDT
BloFin ARB-USDT
BingX ARB-USDT
Aevo ARB-PERP
Bitget ARBUSDT
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
Gate ARB_USDT
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
Polymarket Perps ARB-USD
SunX ARB-USDT
HTX ARB-USDT
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
RISEx ARB/USDC
Backpack ARB_USDC_PERP