Funding you earn now, next payment 03:00 UTC−0.0173%/8h= −19.0% APRpaid last 24h −0.042%
Price spread now: Phemex against GMX−0.072%7-day average −0.012% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.171%−$17 on $10k
+Price spread, last 4 days (all we have)+1.681%+$168 · spread now −0.072%, 7d avg −0.012%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Phemex is 0.060% cheaper against GMX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.012%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX ARB/USD [ARB-USDC] | 0.2215 | L +0.0273% / S −0.0155% | pay 0.0034% / 1h | 38m 01s | $826K | — | 150x |
| Short | Phemex ARBUSDT | 0.2213 | 0.0100 | get 0.0100% / 8h | 5h 38m | $4.9M | $12.9M | 50x |
GMX ARB/USD [ARB-USDC]
Phemex ARBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against GMX. 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
- −$36.4
- Price spread: −0.072% → −0.012%
- −$6
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$66.4
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Phemex: live order book, 6 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 GMX no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 6 min ago | 4.50 bp | 16.6 bp −$17 | 25.9 bp −$259 | doesn't fit | doesn't fit |
GMX: 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 | −0.1577% | 1h | 0.2203 | −0.524% | $40K | $372K | 12x | as long as short |
| SoDEX ARB-USD | −0.0171% | 1h | 0.2213 | −0.054% | $10K | $2.4M | 5x | as long as short |
| Variational Omni ARB | −0.0150% | 8h | 0.2215 | +0.010% | $1.9M | $2.9M | — | as long as short |
| 01 Exchange ARBUSD | −0.0144% | 1h | 0.2215 | 0.000% | $7K | $2K | 10x | as long as short |
| MEXC ARB_USDT | −0.0134% | 8h | 0.2213 | −0.095% | $38.2M | $59.1M | 200x | as long as short |
| OKX ARB-USDT-SWAP | −0.0133% | 8h | 0.2213 | −0.050% | $22.2M | $151.5M | 50x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0111% | 1h | 0.2214 | −0.023% | $24K | $34K | 25x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0098% | 1h | 0.2213 | −0.054% | $1.1M | $4.6M | 50x | as long as short |
| Polymarket Perps ARB-USD | −0.0092% | 1h | 0.2213 | −0.054% | $96K | $2.1M | 10x | as long as short |
| Bybit ARBUSDT | −0.0091% | 8h | 0.2213 | −0.072% | $56.2M | $126.4M | 50x | as long as short |
Injective ARB/USDC PERP
SoDEX ARB-USD
Variational Omni ARB
01 Exchange ARBUSD
MEXC ARB_USDT
OKX ARB-USDT-SWAP
Deribit ARB_USDC-PERPETUAL
Kraken Futures PF_ARBUSD
Polymarket Perps ARB-USD
Bybit ARBUSDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ARB_USDT | −0.0080% | 8h | 0.2213 | −0.063% | $5.4M | $19.0M | 60x | as long as short |
| Orderly PERP_ARB_USDC | −0.0072% | 8h | 0.2213 | −0.072% | $12K | $383K | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2214 | −0.018% | $66K | $5K | 10x | as long as short |
| Binance ARBUSDT | +0.0004% | 8h | 0.2213 | −0.059% | $64.5M | $308.6M | 75x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0013% | 1h | 0.2215 | −0.002% | $11K | — | 150x | as long as short |
| Extended ARB-USD | +0.0008% | 1h | 0.2214 | −0.009% | $352K | $2.5M | 25x | as long as short |
| BloFin ARB-USDT | +0.0018% | 8h | 0.2211 | −0.181% | $3.1M | $2.7M | 75x | as long as short |
| ApeX Omni ARBUSDT | +0.0022% | 1h | 0.2223 | +0.379% | $120K | $283K | 50x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2214 | −0.027% | $140K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2213 | −0.054% | $1.2M | $6.4M | 15x | as long as short |
| Bitget ARBUSDT | +0.0097% | 8h | 0.2214 | −0.027% | $21.2M | $35.0M | 50x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2213 | −0.081% | $38.4M | $49.7M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2213 | −0.086% | $648K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2215 | +0.005% | $42K | $178K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2213 | −0.059% | $19.5M | $15.5M | 75x | as long as short |
| BingX ARB-USDC | +0.0100% | 8h | 0.2211 | −0.176% | — | $6.5M | — | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2215 | +0.017% | $40K | $461K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2221 | +0.307% | $477K | $3.6M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2218 | +0.154% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2215 | +0.018% | $297K | $945K | 50x | as long as short |
| Phemex ARBUSDTshort | +0.0100% | 8h | 0.2213 | −0.072% | $4.9M | $12.9M | 50x | |
| Coinbase International ARB-PERP-INTX | +0.0224% | 1h | 0.2224 | +0.429% | $508K | $2.1M | 50x | as long as short |
| RISEx ARB/USDC | +0.0232% | 1h | 0.2216 | +0.075% | $491K | $2.7M | 10x | as long as short |
| GMX ARB/USD [ARB-USDC]long | L +0.0273% / S −0.0155% | 1h | 0.2215 | long leg | $826K | — | 150x | |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2213 | −0.084% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERP | +0.0535% | 1h | 0.2216 | +0.054% | $998K | $2.8M | 20x | as long as short |
Gate ARB_USDT
Orderly PERP_ARB_USDC
dYdX ARB-USD
Binance ARBUSDT
gTrade (Gains Network) ARB/USD
Extended ARB-USD
BloFin ARB-USDT
ApeX Omni ARBUSDT
Aevo ARB-PERP
Lighter ARB
Bitget ARBUSDT
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
BingX ARB-USDC
edgeX ARBUSDC
GRVT ARB_USDT_Perp
SunX ARB-USDT
HTX ARB-USDT
Coinbase International ARB-PERP-INTX
RISEx ARB/USDC
Reya ARBRUSDPERP
Backpack ARB_USDC_PERP