Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%
Price spread now: Phemex against Binance+0.034%7-day average 0.000% · you sell dearer than you buy
Net, funding: paid 7d − costs−$27as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$220.220% of the position
Funding, last 7 days−0.047%−$5 on $10k
+Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.034%, 7d avg 0.000%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.034% dearer against Binance than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of 0.000%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance BTCUSDT | 85,701.8 | 0.0100 | pay 0.0100% / 8h | 7h 22m | $9.42B | $24.47B | 150x |
| Short | Phemex BTCUSDT | 85,730.8 | 0.0100 | get 0.0100% / 8h | 7h 22m | $165.2M | $510.2M | 150x |
Binance BTCUSDT
Phemex BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Binance. 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
- $0
- Price spread: +0.034% → 0.000%
- $3.41
- Slippage, 4 orders
- −$0.02
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$18.61
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage from Binance: live order book, 6 min ago; Phemex: live order book, 6 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 Binance live order book, 6 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.0 bp −$502 | 6.8 bp −$3,396 |
| Sell Phemex live order book, 6 min ago | 0.01 bp | 6.0 bp −$6 | 6.2 bp −$62 | 7.7 bp −$773 | doesn't fit |
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0830% | 1h | 85,756.1 | +0.063% | $194K | $785K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,640 | −0.072% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,706.9 | +0.006% | $425.8M | $654.2M | 150x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 85,652 | −0.058% | $307K | $26.2M | 52x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,654.9 | −0.055% | $354K | $2.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,715 | +0.015% | $36.7M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0021% | 8h | 85,699.8 | −0.002% | $944.1M | $755.3M | 125x | as long as short |
| Aster BTCUSDT | +0.0036% | 8h | 85,681.1 | −0.024% | $504.1M | $1.06B | 200x | as long as short |
| dYdX BTC-USD | +0.0053% | 1h | 85,491.8 | −0.245% | $16.8M | $20.8M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 85,757.2 | +0.065% | $186.4M | $915.3M | 100x | as long as short |
Bluefin BTC-PERP
Hotstuff BTC-PERP
BloFin BTC-USDT
Injective BTC/USDC PERP
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Aster BTCUSDT
dYdX BTC-USD
Kraken Futures PF_XBTUSDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | +0.0075% | 1h | 85,520 | −0.212% | $2.3M | $10.4M | 40x | as long as short |
| BingX BTC-USDC | +0.0080% | 8h | 85,704.2 | +0.003% | — | $17.3M | — | as long as short |
| Nado BTC-PERP | +0.0085% | 1h | 85,650.1 | −0.060% | $24.3M | $213.8M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,741.1 | +0.046% | $172.0M | $950.6M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,737.6 | +0.042% | $23.5M | $135.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,659 | −0.050% | $8.7M | $56.4M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,713.7 | +0.014% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,632 | −0.081% | $263K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,705.3 | +0.004% | $5.7M | $9.3M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,679.3 | −0.026% | $40.3M | $602.4M | 50x | as long as short |
| Binance BTCUSDTlong | +0.0100% | 8h | 85,701.8 | long leg | $9.42B | $24.47B | 150x | |
| Bybit BTCUSDT | +0.0100% | 8h | 85,728.1 | +0.031% | $5.10B | $9.67B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,749 | +0.055% | $2.62B | $11.71B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,672 | −0.035% | $3.9M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,664 | −0.044% | $5.0M | $96.5M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,303.3 | −0.465% | $702.0M | $164.8M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,705.1 | +0.004% | $5.51B | $9.97B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,696.8 | −0.006% | $5.06B | $5.78B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,748.9 | +0.055% | $2.99B | $4.95B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,705.3 | +0.004% | $37.7M | $192.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,352.3 | −0.408% | $155.8M | $535.0M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,427 | −0.321% | $285.6M | $964.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,464 | −0.277% | $214.5M | $157.0M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,415 | −0.335% | $136.6M | $312.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,531.9 | −0.198% | $30.2M | $217.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,720.3 | +0.022% | — | $9.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,686 | −0.018% | $10.9M | $14.4M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,700 | −0.002% | $210K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,710.5 | +0.010% | $2.7M | $9.7M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,444.6 | −0.300% | $28.8M | $52.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,735.7 | +0.040% | $3.1M | $6.9M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,731 | +0.034% | $60.0M | $311.9M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,722.5 | +0.024% | $2.27B | $954.8M | 200x | as long as short |
| Phemex BTCUSDTshort | +0.0100% | 8h | 85,730.8 | +0.034% | $165.2M | $510.2M | 150x | |
| Extended BTC-USD | +0.0104% | 1h | 85,671.9 | −0.035% | $45.7M | $237.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,669.2 | −0.038% | — | $104.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,772.9 | +0.083% | $112.1M | $5.39B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0151% | 1h | 85,671.2 | −0.036% | $6.6M | $136.1M | 40x | as long as short |
| Hyperliquid BTC | +0.0154% | 1h | 85,824 | +0.143% | $3.86B | $4.73B | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0190% | 8h | 85,686 | −0.018% | $10.8M | $735.9M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,678.2 | −0.027% | $8.9M | $41.8M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0198% / S −0.0175% | 1h | 85,718.7 | +0.020% | $12.9M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0214% | 1h | 85,777.8 | +0.089% | $833.0M | $1.64B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0344% | 1h | 85,586.9 | −0.134% | $690K | $7.6M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0346% | 1h | 85,517.9 | −0.215% | $81K | $259K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,748.2 | +0.054% | $453K | $17.2M | 6.7x | as long as short |
Phoenix BTC
BingX BTC-USDC
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Hyperliquid BTC
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC