Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.052%

Price spread now: Deribit against Phemex−0.014%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Deribit

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: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ARBUSDT	0.2196	0.0084	pay 0.0084% / 8h	4h 49m	$4.9M	$12.9M	50x
Short	Deribit ARB_USDC-PERPETUAL	0.2196	0	get 0.0000% / 1h	49m 32s	$24K	$34K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Phemex. 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 PhemexbpFee DeribitbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$17.65
Price spread: −0.014% → 0.000%: −$1.37
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$38.02
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; Deribit: no order-book sample. 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 Phemex live order book, 4 min ago	4.53 bp	13.9 bp −$14	24.5 bp −$245	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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	−0.1649%	1h	0.2183	−0.592%	$39K	$372K	12x	as long as short
OKX ARB-USDT-SWAP	−0.0136%	8h	0.2193	−0.150%	$22.1M	$147.5M	50x	as long as short
01 Exchange ARBUSD	−0.0136%	1h	0.2192	−0.187%	$7K	$2K	10x	as long as short
MEXC ARB_USDT	−0.0136%	8h	0.2193	−0.123%	$40.6M	$59.6M	200x	as long as short
Polymarket Perps ARB-USD	−0.0126%	1h	0.2192	−0.187%	$70K	$2.1M	10x	as long as short
Variational Omni ARB	−0.0117%	8h	0.2192	−0.165%	$1.8M	$2.9M	—	as long as short
Gate ARB_USDT	−0.0098%	8h	0.2193	−0.123%	$5.3M	$18.6M	60x	as long as short
Orderly PERP_ARB_USDC	−0.0078%	8h	0.2195	−0.046%	$13K	$388K	10x	as long as short
Bybit ARBUSDT	−0.0046%	8h	0.2193	−0.132%	$55.5M	$125.9M	50x	as long as short
SoDEX ARB-USD	−0.0021%	1h	0.2195	−0.068%	$10K	$2.3M	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ARBUSD	−0.0006%	1h	0.2196	−0.006%	$1.1M	$4.4M	50x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2196	−0.018%	$65K	$5K	10x	as long as short
Deribit ARB_USDC-PERPETUALshort	0.0000%	1h	0.2196	−0.014%	$24K	$34K	25x
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2195	−0.031%	$32K	—	150x	as long as short
Extended ARB-USD	+0.0008%	1h	0.2192	−0.175%	$349K	$2.5M	25x	as long as short
Binance ARBUSDT	+0.0010%	8h	0.2193	−0.130%	$64.0M	$306.5M	75x	as long as short
BloFin ARB-USDT	+0.0039%	8h	0.2195	−0.064%	$3.1M	$2.6M	75x	as long as short
Bitget ARBUSDT	+0.0066%	8h	0.2192	−0.182%	$20.9M	$34.6M	50x	as long as short
BingX ARB-USDC	+0.0070%	8h	0.2193	−0.159%	—	$6.5M	—	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2196	+0.005%	$139K	$7K	3x	as long as short
Phemex ARBUSDTlong	+0.0084%	8h	0.2196	long leg	$4.9M	$12.9M	50x
Lighter ARB	+0.0096%	1h	0.2195	−0.041%	$1.2M	$5.7M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2196	+0.009%	$37.9M	$48.7M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2196	0.000%	$634K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2195	−0.047%	$42K	$169K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2196	−0.014%	$19.4M	$15.1M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2204	+0.368%	$40K	$462K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2205	+0.410%	$470K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2196	0.000%	$118K	$282K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2198	+0.091%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2195	−0.027%	$298K	$956K	50x	as long as short
Coinbase International ARB-PERP-INTX	+0.0224%	1h	0.2198	+0.073%	$492K	$2.0M	50x	as long as short
RISEx ARB/USDC	+0.0225%	1h	0.2194	−0.108%	$476K	$2.6M	10x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0273% / S −0.0155%	1h	0.2196	−0.003%	$819K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2192	−0.190%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0581%	1h	0.2198	+0.114%	$993K	$2.8M	20x	as long as short