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: MEXC against Phemex+0.155%7-day average −0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as 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)−0.843%−$84 · spread now +0.155%, 7d avg −0.035%
=The price spread pays, funding is against you. MEXC is 0.190% dearer against Phemex than usual: you sell high and buy low (spread +0.155% now, against its 7-day average of −0.035%): +$19 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.9 days. At the pace of the last 7 days (−0.083% in total) that is about 16 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 | Phemex ARBUSDT | 0.2257 | 0.0100 | pay 0.0100% / 8h | 7h 59m | $5.2M | $13.0M | 50x |
| Short | MEXC ARB_USDT | 0.2261 | −0.0115 | pay 0.0115% / 8h | 7h 59m | $38.4M | $58.6M | 200x |
Phemex ARBUSDT
MEXC ARB_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$45.15
- Price spread: +0.155% → −0.035%
- $18.97
- Slippage, 4 orders
- −$26.79
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$64.97
- Costs to cover
- 0.388%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 5 min ago; MEXC: 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 Phemex live order book, 5 min ago | 6.63 bp | 19.2 bp −$19 | 26.7 bp −$267 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 5 min ago | 0.22 bp | 1.1 bp −$1 | 7.5 bp −$75 | 36.1 bp −$3,608 | 65.5 bp −$32.7K |
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 | −0.443% | $41K | $372K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0248% | 1h | 0.2255 | −0.089% | $7K | $2K | 10x | as long as short |
| Variational Omni ARB | −0.0201% | 8h | 0.2259 | +0.082% | $2.0M | $2.8M | — | as long as short |
| Polymarket Perps ARB-USD | −0.0194% | 1h | 0.2256 | −0.049% | $66K | $2.0M | 10x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0138% | 1h | 0.2262 | +0.232% | $1.1M | $4.9M | 50x | as long as short |
| OKX ARB-USDT-SWAP | −0.0116% | 8h | 0.2259 | +0.102% | $22.8M | $158.7M | 50x | as long as short |
| MEXC ARB_USDTshort | −0.0115% | 8h | 0.2261 | +0.155% | $38.4M | $58.6M | 200x | |
| Deribit ARB_USDC-PERPETUAL | −0.0060% | 1h | 0.2260 | +0.124% | $25K | $34K | 25x | as long as short |
| Orderly PERP_ARB_USDC | −0.0042% | 8h | 0.2260 | +0.133% | $13K | $392K | 10x | as long as short |
| Gate ARB_USDT | −0.0019% | 8h | 0.2259 | +0.106% | $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 | 0.2259 | +0.075% | $359K | $2.3M | 25x | as long as short |
| Binance ARBUSDT | −0.0006% | 8h | 0.2259 | +0.102% | $66.5M | $313.2M | 75x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2257 | −0.014% | $67K | $4K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2258 | +0.031% | $56K | — | 150x | as long as short |
| Bitget ARBUSDT | +0.0047% | 8h | 0.2259 | +0.089% | $21.3M | $36.1M | 50x | as long as short |
| BingX ARB-USDC | +0.0052% | 8h | 0.2256 | −0.040% | — | $6.5M | — | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2261 | +0.158% | $148K | $3K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2262 | +0.204% | $1.4M | $7.3M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2262 | +0.226% | $41.0M | $47.7M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2258 | +0.057% | $702K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2258 | +0.033% | $47K | $183K | 10x | as long as short |
| Bybit ARBUSDT | +0.0100% | 8h | 0.2258 | +0.040% | $58.2M | $127.9M | 50x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2259 | +0.106% | $19.7M | $16.1M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2261 | +0.165% | $40K | $463K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2261 | +0.176% | $482K | $3.6M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2263 | +0.266% | $122K | $295K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2258 | +0.044% | $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 | +0.075% | $291K | $1.0M | 50x | as long as short |
| Phemex ARBUSDTlong | +0.0100% | 8h | 0.2257 | long leg | $5.2M | $13.0M | 50x | |
| BloFin ARB-USDT | +0.0114% | 8h | 0.2260 | +0.124% | $3.1M | $2.8M | 75x | as long as short |
| Backpack ARB_USDC_PERP | +0.0175% | 1h | 0.2263 | +0.266% | $1.0M | $2.8M | 20x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0232% | 1h | 0.2260 | +0.133% | $510K | $2.3M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2254 | −0.128% | $2K | $695 | 20x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0297% / S −0.0186% | 1h | 0.2258 | +0.045% | $923K | — | 150x | as long as short |
| RISEx ARB/USDC | +0.0384% | 1h | 0.2257 | +0.005% | $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