Funding you earn now, next payment 00:00 UTC−0.0278%/8h= −30.4% APRnext payment −$2.78 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against Phemex+0.009%7-day average −0.058% · you sell dearer than you buy
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$530.534% of the position
Funding, last 7 days+0.012%+$1 on $10k
+Price spread, last 3 days (all we have)−0.709%−$71 · spread now +0.009%, 7d avg −0.058%
=The price spread pays, funding is against you. Bybit is 0.067% dearer against Phemex than usual: you sell high and buy low (spread +0.009% now, against its 7-day average of −0.058%): +$7 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 19 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.012% in total (about 0.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.78 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 | Phemex ARBUSDT | 0.2263 | 0.0100 | pay 0.0100% / 8h | 8m 00s | $5.2M | $13.0M | 50x |
| Short | Bybit ARBUSDT | 0.2263 | −0.0178 | pay 0.0178% / 8h | 8m 00s | $58.3M | $128.1M | 50x |
Phemex ARBUSDT
Bybit ARBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$58.29
- Price spread: +0.009% → −0.058%
- $6.66
- Slippage, 4 orders
- −$30.41
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$105.04
- Costs to cover
- 0.534%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 6 min ago; Bybit: live order book, 1 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, 6 min ago | 6.61 bp | 21.8 bp −$22 | 40.9 bp −$409 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 0.22 bp | 9.6 bp −$10 | 17.9 bp −$179 | 48.5 bp −$4,845 | 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 | −0.1785% | 1h | 0.2256 | −0.309% | $41K | $372K | 12x | as long as short |
| Polymarket Perps ARB-USD | −0.0242% | 1h | 0.2264 | +0.027% | $66K | $2.0M | 10x | as long as short |
| 01 Exchange ARBUSD | −0.0208% | 1h | 0.2262 | −0.044% | $7K | $2K | 10x | as long as short |
| Variational Omni ARB | −0.0192% | 8h | 0.2264 | +0.023% | $2.0M | $2.8M | — | as long as short |
| SoDEX ARB-USD | −0.0179% | 1h | 0.2264 | +0.044% | $4K | $2.6M | 5x | as long as short |
| Bybit ARBUSDTshort | −0.0178% | 8h | 0.2263 | +0.009% | $58.3M | $128.1M | 50x | |
| OKX ARB-USDT-SWAP | −0.0113% | 8h | 0.2264 | +0.040% | $22.8M | $159.3M | 50x | as long as short |
| MEXC ARB_USDT | −0.0112% | 8h | 0.2264 | +0.044% | $38.5M | $60.1M | 200x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0103% | 1h | 0.2265 | +0.066% | $25K | $34K | 25x | as long as short |
| Orderly PERP_ARB_USDC | −0.0041% | 8h | 0.2264 | +0.044% | $13K | $394K | 10x | as long as short |
Injective ARB/USDC PERP
Polymarket Perps ARB-USD
01 Exchange ARBUSD
Variational Omni ARB
SoDEX ARB-USD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Gate ARB_USDT | −0.0013% | 8h | 0.2265 | +0.093% | $5.4M | $20.3M | 60x | as long as short |
| Binance ARBUSDT | 0.0000% | 8h | 0.2265 | +0.074% | $66.7M | $313.4M | 75x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2264 | +0.028% | $67K | $4K | 10x | as long as short |
| Extended ARB-USD | 0.0000% | 1h | 0.2263 | +0.010% | $361K | $2.3M | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2266 | +0.115% | $56K | — | 150x | as long as short |
| BloFin ARB-USDT | +0.0011% | 8h | 0.2262 | −0.044% | $3.1M | $2.8M | 75x | as long as short |
| Bitget ARBUSDT | +0.0053% | 8h | 0.2264 | +0.044% | $21.4M | $35.9M | 50x | as long as short |
| BingX ARB-USDC | +0.0059% | 8h | 0.2263 | −0.022% | — | $6.5M | — | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2265 | +0.078% | $148K | $12K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2266 | +0.133% | $1.4M | $7.5M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2267 | +0.186% | $41.0M | $47.6M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2266 | +0.116% | $707K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2265 | +0.067% | $47K | $183K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2265 | +0.066% | $19.7M | $16.1M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2268 | +0.240% | $40K | $460K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2266 | +0.133% | $486K | $3.6M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2268 | +0.221% | $122K | $295K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2267 | +0.177% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2265 | +0.080% | $291K | $1.1M | 50x | as long as short |
| Phemex ARBUSDTlong | +0.0100% | 8h | 0.2263 | long leg | $5.2M | $13.0M | 50x | |
| Coinbase International ARB-PERP-INTX | +0.0216% | 1h | 0.2268 | +0.221% | $512K | $2.3M | 50x | as long as short |
| Kraken Futures PF_ARBUSD | +0.0236% | 1h | 0.2266 | +0.144% | $1.1M | $4.9M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2263 | +0.008% | $2K | $695 | 20x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0297% / S −0.0186% | 1h | 0.2265 | +0.102% | $926K | — | 150x | as long as short |
| RISEx ARB/USDC | +0.0330% | 1h | 0.2265 | +0.104% | $515K | $2.7M | 10x | as long as short |
| Backpack ARB_USDC_PERP | +0.0462% | 1h | 0.2268 | +0.225% | $1.0M | $2.8M | 20x | as long as short |
Gate ARB_USDT
Binance ARBUSDT
dYdX ARB-USD
Extended ARB-USD
gTrade (Gains Network) ARB/USD
BloFin ARB-USDT
Bitget ARBUSDT
BingX ARB-USDC
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
Coinbase International ARB-PERP-INTX
Kraken Futures PF_ARBUSD
Reya ARBRUSDPERP
GMX ARB/USD [ARB-USDC]
RISEx ARB/USDC
Backpack ARB_USDC_PERP