Funding you earn now, next payment 08:00 UTC−0.0094%/8h= −10.3% APRnext payment −$0.94 per $10,000 · paid last 24h −0.019%
Price spread now: Binance against Phemex−0.113%7-day average −0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs−$59as in the Price arb table
costs, in and out, $10k−$490.493% of the position
Funding, last 7 days−0.027%−$3 on $10k
+Price spread, last 4 days (all we have)−2.614%−$261 · spread now −0.113%, 7d avg −0.018%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.094% cheaper against Phemex than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.018%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex ARBUSDT | 0.2217 | 0.0100 | pay 0.0100% / 8h | 5h 42m | $5.0M | $12.9M | 50x |
| Short | Binance ARBUSDT | 0.2214 | 0.0006 | get 0.0006% / 8h | 5h 42m | $64.5M | $308.9M | 75x |
Phemex ARBUSDT
Binance ARBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. 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
- −$19.82
- Price spread: −0.113% → −0.018%
- −$9.43
- Slippage, 4 orders
- −$27.25
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$78.5
- Costs to cover
- 0.493%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 2 min ago; Binance: live order book, 2 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 Phemex live order book, 2 min ago | 4.50 bp | 15.1 bp −$15 | 25.3 bp −$253 | doesn't fit | doesn't fit |
| Sell Binance live order book, 2 min ago | 0.22 bp | 7.7 bp −$8 | 25.0 bp −$250 | 87.5 bp −$8,750 | 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 | −0.1577% | 1h | 0.2210 | −0.316% | $40K | $372K | 12x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0155% | 1h | 0.2219 | +0.072% | $24K | $34K | 25x | as long as short |
| Variational Omni ARB | −0.0153% | 8h | 0.2213 | −0.160% | $1.9M | $2.9M | — | as long as short |
| MEXC ARB_USDT | −0.0134% | 8h | 0.2214 | −0.122% | $38.3M | $59.1M | 200x | as long as short |
| OKX ARB-USDT-SWAP | −0.0133% | 8h | 0.2213 | −0.176% | $22.3M | $151.5M | 50x | as long as short |
| 01 Exchange ARBUSD | −0.0128% | 1h | 0.2218 | +0.063% | $7K | $2K | 10x | as long as short |
| SoDEX ARB-USD | −0.0113% | 1h | 0.2219 | +0.086% | $10K | $2.4M | 5x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0098% | 1h | 0.2220 | +0.134% | $1.1M | $4.6M | 50x | as long as short |
| Gate ARB_USDT | −0.0084% | 8h | 0.2215 | −0.072% | $5.4M | $19.0M | 60x | as long as short |
| Bybit ARBUSDT | −0.0083% | 8h | 0.2214 | −0.135% | $56.3M | $126.4M | 50x | as long as short |
Injective ARB/USDC PERP
Deribit ARB_USDC-PERPETUAL
Variational Omni ARB
MEXC ARB_USDT
OKX ARB-USDT-SWAP
01 Exchange ARBUSD
SoDEX ARB-USD
Kraken Futures PF_ARBUSD
Gate ARB_USDT
Bybit ARBUSDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps ARB-USD | −0.0074% | 1h | 0.2219 | +0.086% | $102K | $2.1M | 10x | as long as short |
| Orderly PERP_ARB_USDC | −0.0072% | 8h | 0.2218 | +0.045% | $12K | $384K | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2221 | +0.161% | $66K | $5K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0013% | 1h | 0.2219 | +0.110% | $11K | — | 150x | as long as short |
| Binance ARBUSDTshort | +0.0006% | 8h | 0.2214 | −0.113% | $64.5M | $308.9M | 75x | |
| Extended ARB-USD | +0.0008% | 1h | 0.2213 | −0.161% | $353K | $2.5M | 25x | as long as short |
| BloFin ARB-USDT | +0.0012% | 8h | 0.2224 | +0.316% | $3.1M | $2.7M | 75x | as long as short |
| ApeX Omni ARBUSDT | +0.0047% | 1h | 0.2219 | +0.090% | $120K | $283K | 50x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2219 | +0.111% | $141K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2219 | +0.086% | $1.2M | $6.4M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2219 | +0.104% | $38.5M | $49.9M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2220 | +0.143% | $659K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2221 | +0.162% | $42K | $179K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2217 | −0.023% | $19.6M | $15.5M | 75x | as long as short |
| Bitget ARBUSDT | +0.0100% | 8h | 0.2214 | −0.135% | $21.2M | $35.0M | 50x | as long as short |
| BingX ARB-USDC | +0.0100% | 8h | 0.2218 | +0.059% | — | $6.5M | — | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2218 | +0.040% | $40K | $464K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2212 | −0.226% | $470K | $3.6M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2222 | +0.226% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2221 | +0.171% | $298K | $948K | 50x | as long as short |
| Phemex ARBUSDTlong | +0.0100% | 8h | 0.2217 | long leg | $5.0M | $12.9M | 50x | |
| Coinbase International ARB-PERP-INTX | +0.0224% | 1h | 0.2224 | +0.320% | $508K | $2.1M | 50x | as long as short |
| RISEx ARB/USDC | +0.0232% | 1h | 0.2220 | +0.135% | $489K | $2.7M | 10x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0273% / S −0.0155% | 1h | 0.2219 | +0.101% | $828K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2218 | +0.054% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERP | +0.0574% | 1h | 0.2221 | +0.180% | $1.0M | $2.8M | 20x | as long as short |
Polymarket Perps ARB-USD
Orderly PERP_ARB_USDC
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Extended ARB-USD
BloFin ARB-USDT
ApeX Omni ARBUSDT
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
Bitget ARBUSDT
BingX ARB-USDC
edgeX ARBUSDC
GRVT ARB_USDT_Perp
SunX ARB-USDT
HTX ARB-USDT
Coinbase International ARB-PERP-INTX
RISEx ARB/USDC
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
Backpack ARB_USDC_PERP