Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.050%

Price spread now: SoDEX against Phemex+0.005%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$380.379% of the position

Long on Phemex Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.090%−$9 on $10k

Price spread, last 4 days (all we have)−0.147%−$15 · spread now +0.005%, 7d avg −0.019%

Together, before fees−0.237%−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.023% dearer against Phemex than usual: you sell high and buy low (spread +0.005% now, against its 7-day average of −0.019%): +$2 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 3 days (−0.090% in total) that is about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ARBUSDT	0.2221	0.0100	pay 0.0100% / 8h	5h 33m	$5.0M	$12.9M	50x
Short	SoDEX ARB-USD	0.2221	−0.0139	pay 0.0017% / 1h	33m 47s	$10K	$2.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$50.21
Price spread: +0.005% → −0.019%: $2.33
Slippage, 4 orders: −$17.94
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$85.81
Costs to cover: 0.379%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; SoDEX: 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	6.78 bp	14.1 bp −$14	28.1 bp −$281	doesn't fit	doesn't fit
Sell SoDEX live order book, 5 min ago	0.23 bp	5.6 bp −$6	19.3 bp −$193	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 PERP	−0.1577%	1h	0.2230	+0.405%	$40K	$372K	12x	as long as short
Variational Omni ARB	−0.0151%	8h	0.2222	+0.055%	$1.9M	$2.9M	—	as long as short
01 Exchange ARBUSD	−0.0144%	1h	0.2220	−0.045%	$7K	$2K	10x	as long as short
SoDEX ARB-USDshort	−0.0139%	1h	0.2221	+0.005%	$10K	$2.4M	5x
OKX ARB-USDT-SWAP	−0.0131%	8h	0.2224	+0.144%	$22.3M	$151.9M	50x	as long as short
MEXC ARB_USDT	−0.0131%	8h	0.2222	+0.059%	$38.3M	$59.1M	200x	as long as short
Bybit ARBUSDT	−0.0099%	8h	0.2223	+0.104%	$56.5M	$126.4M	50x	as long as short
Kraken Futures PF_ARBUSD	−0.0098%	1h	0.2222	+0.051%	$1.1M	$4.6M	50x	as long as short
Polymarket Perps ARB-USD	−0.0096%	1h	0.2220	−0.036%	$96K	$2.1M	10x	as long as short
Gate ARB_USDT	−0.0090%	8h	0.2223	+0.068%	$5.4M	$19.1M	60x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ARB_USDC	−0.0072%	8h	0.2222	+0.045%	$12K	$385K	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2224	+0.115%	$66K	$5K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2222	+0.050%	$24K	$34K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0013%	1h	0.2221	+0.008%	$11K	—	150x	as long as short
Extended ARB-USD	+0.0008%	1h	0.2221	+0.012%	$353K	$2.5M	25x	as long as short
Binance ARBUSDT	+0.0008%	8h	0.2222	+0.064%	$64.7M	$308.6M	75x	as long as short
BloFin ARB-USDT	+0.0028%	8h	0.2223	+0.077%	$3.1M	$2.7M	75x	as long as short
ApeX Omni ARBUSDT	+0.0044%	1h	0.2220	−0.045%	$120K	$283K	50x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2222	+0.028%	$141K	$7K	3x	as long as short
Bitget ARBUSDT	+0.0093%	8h	0.2220	−0.045%	$21.2M	$34.9M	50x	as long as short
Lighter ARB	+0.0096%	1h	0.2221	+0.018%	$1.2M	$6.4M	15x	as long as short
BingX ARB-USDT	+0.0097%	8h	0.2221	+0.023%	—	$53.9M	—	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2222	+0.050%	$38.6M	$49.7M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2222	+0.052%	$651K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2223	+0.072%	$42K	$178K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2223	+0.077%	$19.6M	$15.5M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2217	−0.165%	$40K	$462K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2219	−0.096%	$477K	$3.6M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2223	+0.090%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2221	0.000%	$298K	$946K	50x	as long as short
Phemex ARBUSDTlong	+0.0100%	8h	0.2221	long leg	$5.0M	$12.9M	50x
Coinbase International ARB-PERP-INTX	+0.0224%	1h	0.2226	+0.225%	$508K	$2.0M	50x	as long as short
RISEx ARB/USDC	+0.0232%	1h	0.2221	+0.017%	$491K	$2.7M	10x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0273% / S −0.0155%	1h	0.2222	+0.031%	$828K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2219	−0.074%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0556%	1h	0.2225	+0.185%	$1.0M	$2.8M	20x	as long as short