Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0121%/8h= +13.2% APRpaid last 24h +0.050%

Price spread now: Phemex against Deribit+0.005%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ARB_USDC-PERPETUAL	0.2215	−0.0021	get 0.0003% / 1h	50m 34s	$24K	$34K	25x
Short	Phemex ARBUSDT	0.2215	0.0100	get 0.0100% / 8h	6h 50m	$5.1M	$13.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Deribit. 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 DeribitbpFee PhemexbpOrdersPrice spread, now +0.005%Rate

Funding earned: $25.41
Price spread: +0.005% → 0.000%: $0.45
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: $6.86
Costs to cover: 0.190%
Break-even: 5.1 days

Slippage unknown: Deribit: no order-book sample; Phemex: live order book, 3 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	9.07 bp	22.2 bp −$22	68.7 bp −$687	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1692%	1h	0.2202	−0.582%	$40K	$372K	12x	as long as short
ApeX Omni ARBUSDT	−0.0744%	1h	0.2210	−0.221%	$119K	$296K	50x	as long as short
01 Exchange ARBUSD	−0.0208%	1h	0.2212	−0.113%	$7K	$2K	10x	as long as short
Variational Omni ARB	−0.0189%	8h	0.2213	−0.072%	$1.9M	$2.9M	—	as long as short
OKX ARB-USDT-SWAP	−0.0105%	8h	0.2212	−0.154%	$22.3M	$157.0M	50x	as long as short
MEXC ARB_USDT	−0.0104%	8h	0.2214	−0.045%	$37.3M	$58.9M	200x	as long as short
SoDEX ARB-USD	−0.0087%	1h	0.2214	−0.023%	$10K	$2.5M	5x	as long as short
Bybit ARBUSDT	−0.0077%	8h	0.2211	−0.163%	$57.0M	$129.2M	50x	as long as short
Orderly PERP_ARB_USDC	−0.0054%	8h	0.2215	+0.005%	$13K	$385K	10x	as long as short
Deribit ARB_USDC-PERPETUALlong	−0.0021%	1h	0.2215	long leg	$24K	$34K	25x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ARB-USD	0.0000%	1h	0.2216	+0.036%	$66K	$5K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2215	+0.005%	$31K	—	150x	as long as short
Binance ARBUSDT	+0.0007%	8h	0.2212	−0.127%	$64.6M	$318.0M	75x	as long as short
Extended ARB-USD	+0.0008%	1h	0.2211	−0.155%	$352K	$2.5M	25x	as long as short
BloFin ARB-USDT	+0.0029%	8h	0.2214	−0.036%	$3.2M	$2.9M	75x	as long as short
Gate ARB_USDT	+0.0051%	8h	0.2215	−0.018%	$5.4M	$19.6M	60x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2216	+0.029%	$141K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2215	−0.018%	$1.3M	$7.4M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2213	−0.068%	$38.2M	$50.4M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2217	+0.082%	$660K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2216	+0.043%	$44K	$186K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2216	+0.036%	$19.6M	$15.9M	75x	as long as short
Bitget ARBUSDT	+0.0100%	8h	0.2213	−0.086%	$21.1M	$36.5M	50x	as long as short
BingX ARB-USDT	+0.0100%	8h	0.2213	−0.099%	—	$54.6M	—	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2208	−0.322%	$40K	$462K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2209	−0.283%	$479K	$3.6M	10x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2214	−0.059%	$77K	$2.0M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2214	−0.041%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2214	−0.041%	$296K	$1.0M	50x	as long as short
Phemex ARBUSDTshort	+0.0100%	8h	0.2215	+0.005%	$5.1M	$13.0M	50x
Coinbase International ARB-PERP-INTX	+0.0240%	1h	0.2212	−0.126%	$506K	$2.2M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0273% / S −0.0155%	1h	0.2215	+0.027%	$827K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2211	−0.198%	$2K	$695	20x	as long as short
Kraken Futures PF_ARBUSD	+0.0312%	1h	0.2216	+0.060%	$1.1M	$4.8M	50x	as long as short
RISEx ARB/USDC	+0.0466%	1h	0.2215	+0.009%	$500K	$2.6M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0531%	1h	0.2218	+0.117%	$1.0M	$2.9M	20x	as long as short