Funding you earn now, next payment 04:00 UTC−0.1749%/8h= −191.5% APRpaid last 24h −0.510%
Price spread now: Injective against Phemex−0.635%65s7-day average −0.440% · you buy dearer than you sell
Net, funding: paid 7d − costs−$477as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1291.289% of the position
Funding, last 7 days−3.485%−$349 on $10k
+Price spread, last 4 days (all we have)+0.369%+$37 · spread now −0.635%, 7d avg −0.440%
=Both sides work against this trade now: funding costs −$52 a day on $10k at the current rate, and Injective is 0.195% cheaper against Phemex than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.440%). Swap the legs. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex ARBUSDT | 0.2203 | 0.0100 | pay 0.0100% / 8h | 4h 00m | $5.0M | $13.0M | 50x |
| Short | Injective ARB/USDC PERP | 0.2189 | −0.1649 | pay 0.0206% / 1h | 0m 02s | $39K | $372K | 12x |
Phemex ARBUSDT
Injective ARB/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$367.35
- Price spread: −0.635% → −0.440%
- −$19.55
- Slippage, 4 orders
- −$116.87
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$515.79
- Costs to cover
- 1.289%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; Injective: live order book, 59 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, 4 min ago | 4.54 bp | 12.6 bp −$13 | 25.2 bp −$252 | doesn't fit | doesn't fit |
| Sell Injective live order book, 59 min ago | 49.82 bp | 49.8 bp −$50 | doesn't fit | 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 PERPshort | −0.1649% | 1h | 0.2189 | −0.635% | $39K | $372K | 12x | |
| 01 Exchange ARBUSD | −0.0168% | 1h | 0.2203 | +0.023% | $7K | $2K | 10x | as long as short |
| Polymarket Perps ARB-USD | −0.0152% | 1h | 0.2203 | −0.014% | $86K | $2.1M | 10x | as long as short |
| OKX ARB-USDT-SWAP | −0.0115% | 8h | 0.2203 | −0.023% | $22.2M | $144.8M | 50x | as long as short |
| MEXC ARB_USDT | −0.0114% | 8h | 0.2203 | 0.000% | $42.7M | $61.1M | 200x | as long as short |
| Variational Omni ARB | −0.0095% | 8h | 0.2201 | −0.104% | $1.8M | $2.9M | — | as long as short |
| Orderly PERP_ARB_USDC | −0.0075% | 8h | 0.2204 | +0.045% | $12K | $402K | 10x | as long as short |
| Gate ARB_USDT | −0.0041% | 8h | 0.2202 | −0.059% | $5.3M | $18.9M | 60x | as long as short |
| Bybit ARBUSDT | −0.0039% | 8h | 0.2200 | −0.113% | $55.4M | $124.4M | 50x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0006% | 1h | 0.2204 | +0.033% | $1.1M | $4.4M | 50x | as long as short |
01 Exchange ARBUSD
Polymarket Perps ARB-USD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Variational Omni ARB
Orderly PERP_ARB_USDC
Gate ARB_USDT
Bybit ARBUSDT
Kraken Futures PF_ARBUSDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX ARB-USD | 0.0000% | 1h | 0.2205 | +0.089% | $65K | $5K | 10x | as long as short |
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2204 | +0.041% | $24K | $34K | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0006% | 1h | 0.2204 | +0.065% | $32K | — | 150x | as long as short |
| Extended ARB-USD | +0.0016% | 1h | 0.2201 | −0.097% | $350K | $2.5M | 25x | as long as short |
| Binance ARBUSDT | +0.0020% | 8h | 0.2202 | −0.058% | $64.0M | $301.4M | 75x | as long as short |
| SoDEX ARB-USD | +0.0028% | 1h | 0.2203 | −0.023% | $10K | $2.2M | 5x | as long as short |
| Bitget ARBUSDT | +0.0061% | 8h | 0.2202 | −0.045% | $20.9M | $34.1M | 50x | as long as short |
| BingX ARB-USDC | +0.0061% | 8h | 0.2201 | −0.100% | — | $6.5M | — | as long as short |
| BloFin ARB-USDT | +0.0071% | 8h | 0.2202 | −0.036% | $3.1M | $2.6M | 75x | as long as short |
| Aevo ARB-PERP | +0.0088% | 1h | 0.2204 | +0.029% | $140K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2203 | −0.005% | $1.2M | $5.8M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2203 | −0.005% | $37.8M | $48.4M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2203 | −0.009% | $634K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2205 | +0.074% | $42K | $168K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2202 | −0.036% | $19.6M | $14.8M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2200 | −0.122% | $38K | $464K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2202 | −0.045% | $468K | $3.6M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2202 | −0.045% | $119K | $283K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2206 | +0.136% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2203 | +0.009% | $299K | $908K | 50x | as long as short |
| Phemex ARBUSDTlong | +0.0100% | 8h | 0.2203 | long leg | $5.0M | $13.0M | 50x | |
| Coinbase International ARB-PERP-INTX | +0.0224% | 1h | 0.2209 | +0.254% | $493K | $1.8M | 50x | as long as short |
| RISEx ARB/USDC | +0.0225% | 1h | 0.2204 | +0.039% | $478K | $2.6M | 10x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0276% / S −0.0158% | 1h | 0.2204 | +0.041% | $832K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0289% | 1h | 0.2202 | −0.028% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERP | +0.0613% | 1h | 0.2205 | +0.104% | $993K | $2.8M | 20x | as long as short |
dYdX ARB-USD
Deribit ARB_USDC-PERPETUAL
gTrade (Gains Network) ARB/USD
Extended ARB-USD
Binance ARBUSDT
SoDEX ARB-USD
Bitget ARBUSDT
BingX ARB-USDC
BloFin ARB-USDT
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
RISEx ARB/USDC
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
Backpack ARB_USDC_PERP