Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0356%/8h= +39.0% APRpaid last 24h —

Price spread now: HTX against Phoenix−0.221%72s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 hours (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. HTX is 0.221% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.221% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 2.1 days of funding at the current rate (+$11 a day). The two prices were read 72 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	Phoenix ARB	0.2176	−0.0256	get 0.0032% / 1h	31m 57s	$1K	$3K	15x
Short	HTX ARB-USDT	0.2171	0.0100	get 0.0100% / 8h	2h 31m	$288K	$451K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phoenix. 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 PhoenixbpFee HTXbpOrdersPrice spread, now −0.221%Rate

Funding earned: $74.75
Price spread: −0.221% → 0.000%: −$22.06
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: $33.69
Costs to cover: 0.190%
Break-even: 3.8 days

Slippage unknown: Phoenix: no order-book sample; HTX: live order book, 25 min ago. 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 Phoenix no order-book sample	—	—	—	—	—
Sell HTX live order book, 25 min ago	16.42 bp	43.7 bp −$44	doesn't fit	doesn't fit	doesn't fit

Phoenix: 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 37 exchanges

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	−0.1689%	1h	0.2164	−0.561%	$39K	$217K	12x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0302%	1h	0.2174	−0.115%	$2K	$54K	25x	as long as short
Phoenix ARBlong	−0.0256%	1h	0.2176	long leg	$1K	$3K	15x
OKX ARB-USDT-SWAP	−0.0109%	8h	0.2173	−0.161%	$23.5M	$101.6M	50x	as long as short
MEXC ARB_USDT	−0.0107%	8h	0.2173	−0.156%	$50.5M	$43.2M	200x	as long as short
01 Exchange ARBUSD	−0.0088%	1h	0.2174	−0.115%	$7K	$308	10x	as long as short
SoDEX ARB-USD	−0.0059%	1h	0.2173	−0.142%	$9K	$828K	5x	as long as short
Binance ARBUSDT	−0.0027%	8h	0.2173	−0.138%	$64.4M	$180.8M	75x	as long as short
Extended ARB-USD	−0.0024%	1h	0.2173	−0.166%	$358K	$3.7M	25x	as long as short
Gate ARB_USDT	−0.0011%	8h	0.2173	−0.152%	$5.6M	$8.9M	50x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ARB	−0.0008%	8h	0.2173	−0.155%	$1.8M	$1.6M	—	as long as short
RISEx ARB/USDC	−0.0007%	1h	0.2174	−0.098%	$467K	$2.0M	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2172	−0.187%	$63K	$2K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0014%	1h	0.2175	−0.061%	$29K	—	150x	as long as short
Orderly PERP_ARB_USDC	+0.0006%	8h	0.2173	−0.147%	$15K	$264K	10x	as long as short
Bybit ARBUSDT	+0.0058%	8h	0.2172	−0.175%	$50.8M	$81.7M	50x	as long as short
Aevo ARB-PERP	+0.0072%	1h	0.2175	−0.073%	$138K	$4K	3x	as long as short
Bitget ARBUSDT	+0.0081%	8h	0.2172	−0.193%	$21.1M	$22.0M	50x	as long as short
BingX ARB-USDC	+0.0083%	8h	0.2173	−0.142%	—	$6.5M	—	as long as short
BloFin ARB-USDT	+0.0093%	8h	0.2174	−0.110%	$3.1M	$1.4M	75x	as long as short
Lighter ARB	+0.0096%	1h	0.2175	−0.041%	$1.6M	$3.1M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2175	−0.074%	$35.3M	$29.9M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2174	−0.101%	$645K	$1.2M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2171	−0.261%	$44K	$125K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2174	−0.119%	$19.7M	$9.3M	75x	as long as short
Backpack ARB_USDC_PERP	+0.0100%	1h	0.2175	−0.064%	$568K	$1.3M	20x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2174	−0.122%	$37K	$505K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2174	−0.101%	$477K	$3.3M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2175	−0.055%	$118K	$265K	50x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2174	−0.106%	$46K	$1.7M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2172	−0.193%	$1K	$854K	30x	as long as short
HTX ARB-USDTshort	+0.0100%	8h	0.2171	−0.221%	$288K	$451K	50x
Phemex ARBUSDT	+0.0100%	8h	0.2173	−0.147%	$4.6M	$12.4M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0266% / S −0.0148%	1h	0.2175	−0.069%	$839K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0282%	1h	0.2173	−0.162%	$2K	$440	20x	as long as short
Kraken Futures PF_ARBUSD	+0.0682%	1h	0.2175	−0.057%	$1.3M	$3.6M	50x	as long as short
Coinbase International ARB-PERP-INTX	+0.0704%	1h	0.2179	+0.138%	$635K	$1.0M	50x	as long as short