Funding you earn now, next payment 08:00 UTC+0.0215%/8h= +23.5% APRnext payment +$2.15 per $10,000 · paid last 24h +0.034%
Price spread now: Phemex against MEXC−0.256%7-day average +0.035% · you buy dearer than you sell
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$68as in the Price arb table
costs, in and out, $10k−$390.388% of the position
Funding, last 7 days+0.083%+$8 on $10k
+Price spread, last 3 days (all we have)+0.944%+$94 · spread now −0.256%, 7d avg +0.035%
=Funding pays, the price is against you. Phemex is 0.291% cheaper against MEXC than usual: you would sell low and buy high (spread −0.256% now, against its 7-day average of +0.035%). If the spread goes back, that is −$29 on $10k: about 4.5 days of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.083% in total) that is about 25 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.083% in total (about 4.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.15 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC ARB_USDT | 0.2263 | −0.0115 | get 0.0115% / 8h | 7h 58m | $38.5M | $58.6M | 200x |
| Short | Phemex ARBUSDT | 0.2257 | 0.0100 | get 0.0100% / 8h | 7h 58m | $5.2M | $13.0M | 50x |
MEXC ARB_USDT
Phemex ARBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against MEXC. 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
- $45.15
- Price spread: −0.256% → +0.035%
- −$29.09
- Slippage, 4 orders
- −$26.79
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$22.73
- Costs to cover
- 0.388%
- Break-even
- 10.5 days
Slippage from MEXC: live order book, 5 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 MEXC live order book, 5 min ago | 0.22 bp | 1.9 bp −$2 | 24.2 bp −$242 | 45.5 bp −$4,548 | 67.7 bp −$33.9K |
| Sell Phemex live order book, 5 min ago | 6.63 bp | 16.6 bp −$17 | 49.4 bp −$494 | 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 | 0.2247 | −0.698% | $41K | $372K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0248% | 1h | 0.2255 | −0.345% | $7K | $2K | 10x | as long as short |
| Variational Omni ARB | −0.0201% | 8h | 0.2259 | −0.175% | $2.0M | $2.8M | — | as long as short |
| Polymarket Perps ARB-USD | −0.0194% | 1h | 0.2256 | −0.305% | $66K | $2.0M | 10x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0138% | 1h | 0.2262 | −0.025% | $1.1M | $4.9M | 50x | as long as short |
| OKX ARB-USDT-SWAP | −0.0116% | 8h | 0.2263 | −0.009% | $22.8M | $159.0M | 50x | as long as short |
| MEXC ARB_USDTlong | −0.0115% | 8h | 0.2263 | long leg | $38.5M | $58.6M | 200x | |
| Deribit ARB_USDC-PERPETUAL | −0.0060% | 1h | 0.2260 | −0.133% | $25K | $34K | 25x | as long as short |
| Orderly PERP_ARB_USDC | −0.0042% | 8h | 0.2260 | −0.124% | $13K | $392K | 10x | as long as short |
| Gate ARB_USDT | −0.0019% | 8h | 0.2259 | −0.150% | $5.4M | $19.6M | 60x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
Variational Omni ARB
Polymarket Perps ARB-USD
Kraken Futures PF_ARBUSD
OKX ARB-USDT-SWAP
Deribit ARB_USDC-PERPETUAL
Orderly PERP_ARB_USDC
Gate ARB_USDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended ARB-USD | −0.0008% | 1h | 0.2262 | −0.027% | $359K | $2.3M | 25x | as long as short |
| Binance ARBUSDT | −0.0006% | 8h | 0.2262 | −0.057% | $66.6M | $313.2M | 75x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2257 | −0.270% | $67K | $4K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2258 | −0.225% | $56K | — | 150x | as long as short |
| Bitget ARBUSDT | +0.0047% | 8h | 0.2262 | −0.035% | $21.3M | $36.1M | 50x | as long as short |
| BingX ARB-USDC | +0.0052% | 8h | 0.2256 | −0.296% | — | $6.5M | — | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2261 | −0.099% | $148K | $3K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2262 | −0.053% | $1.4M | $7.3M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2262 | −0.031% | $41.0M | $47.7M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2260 | −0.133% | $702K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2258 | −0.224% | $47K | $183K | 10x | as long as short |
| Bybit ARBUSDT | +0.0100% | 8h | 0.2261 | −0.084% | $58.3M | $127.9M | 50x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2259 | −0.150% | $19.7M | $16.1M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2261 | −0.092% | $40K | $463K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2261 | −0.081% | $482K | $3.6M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2263 | +0.009% | $122K | $295K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2258 | −0.212% | $2K | $1.1M | 30x | as long as short |
| SoDEX ARB-USD | +0.0100% | 1h | 0.2260 | −0.128% | $4K | $2.6M | 5x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2259 | −0.181% | $291K | $1.0M | 50x | as long as short |
| Phemex ARBUSDTshort | +0.0100% | 8h | 0.2257 | −0.256% | $5.2M | $13.0M | 50x | |
| BloFin ARB-USDT | +0.0114% | 8h | 0.2260 | −0.133% | $3.1M | $2.8M | 75x | as long as short |
| Backpack ARB_USDC_PERP | +0.0175% | 1h | 0.2263 | +0.009% | $1.0M | $2.8M | 20x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0232% | 1h | 0.2260 | −0.124% | $510K | $2.3M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2254 | −0.384% | $2K | $695 | 20x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0297% / S −0.0186% | 1h | 0.2258 | −0.212% | $923K | — | 150x | as long as short |
| RISEx ARB/USDC | +0.0384% | 1h | 0.2257 | −0.251% | $512K | $2.7M | 10x | as long as short |
Extended ARB-USD
Binance ARBUSDT
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Bitget ARBUSDT
BingX ARB-USDC
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
Bybit ARBUSDT
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
SoDEX ARB-USD
HTX ARB-USDT
BloFin ARB-USDT
Backpack ARB_USDC_PERP
Coinbase International ARB-PERP-INTX
Reya ARBRUSDPERP
GMX ARB/USD [ARB-USDC]
RISEx ARB/USDC