Funding you earn now, next payment 08:00 UTC−0.0162%/8h= −17.7% APRnext payment −$1.62 per $10,000 · paid last 24h −0.047%
Price spread now: Orderly against Phemex−0.046%7-day average −0.005% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.179%−$18 on $10k
+Price spread, last 4 days (all we have)+0.068%+$7 · spread now −0.046%, 7d avg −0.005%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Orderly is 0.040% cheaper against Phemex than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.005%). Swap the legs.
| 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 50m | $4.9M | $12.9M | 50x |
| Short | Orderly PERP_ARB_USDC | 0.2195 | −0.0078 | pay 0.0078% / 8h | 4h 50m | $13K | $388K | 10x |
Phemex ARBUSDT
Orderly PERP_ARB_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$34.02
- Price spread: −0.046% → −0.005%
- −$4.01
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$56.03
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 4 min ago; Orderly: 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 Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 |
| MEXC ARB_USDT | −0.0138% | 8h | 0.2196 | −0.009% | $40.7M | $59.5M | 200x | as long as short |
| OKX ARB-USDT-SWAP | −0.0137% | 8h | 0.2195 | −0.036% | $22.2M | $147.7M | 50x | as long as short |
| 01 Exchange ARBUSD | −0.0128% | 1h | 0.2195 | −0.068% | $7K | $2K | 10x | as long as short |
| Variational Omni ARB | −0.0117% | 8h | 0.2192 | −0.165% | $1.8M | $2.9M | — | as long as short |
| Polymarket Perps ARB-USD | −0.0107% | 1h | 0.2195 | −0.064% | $70K | $2.2M | 10x | as long as short |
| Gate ARB_USDT | −0.0100% | 8h | 0.2195 | −0.059% | $5.3M | $18.6M | 60x | as long as short |
| Orderly PERP_ARB_USDCshort | −0.0078% | 8h | 0.2195 | −0.046% | $13K | $388K | 10x | |
| Bybit ARBUSDT | −0.0046% | 8h | 0.2195 | −0.055% | $55.6M | $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 |
Injective ARB/USDC PERP
MEXC ARB_USDT
OKX ARB-USDT-SWAP
01 Exchange ARBUSD
Variational Omni ARB
Polymarket Perps ARB-USD
Gate ARB_USDT
Bybit ARBUSDT
SoDEX ARB-USDShow 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 | 0.2197 | +0.038% | $65K | $5K | 10x | as long as short |
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2196 | −0.014% | $24K | $34K | 25x | as long as short |
| 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 | 0.2194 | −0.101% | $349K | $2.5M | 25x | as long as short |
| Binance ARBUSDT | +0.0010% | 8h | 0.2196 | −0.009% | $64.1M | $306.6M | 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 | 0.2194 | −0.091% | $20.9M | $34.6M | 50x | as long as short |
| BingX ARB-USDC | +0.0070% | 8h | 0.2193 | −0.118% | — | $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 | −0.046% | $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 | 0.2197 | +0.059% | $43K | $169K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2195 | −0.036% | $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 | 0.2204 | +0.364% | $119K | $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 | 0.2196 | +0.010% | $478K | $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 | 0.2194 | −0.092% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERP | +0.0552% | 1h | 0.2198 | +0.087% | $992K | $2.8M | 20x | as long as short |
Kraken Futures PF_ARBUSD
dYdX ARB-USD
Deribit ARB_USDC-PERPETUAL
gTrade (Gains Network) ARB/USD
Extended ARB-USD
Binance ARBUSDT
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
RISEx ARB/USDC
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
Backpack ARB_USDC_PERP