Funding you earn now, next payment 22:00 UTC+0.0080%/8h= +8.7% APRpaid last 24h +0.018%
Price spread now: Extended against Phemex+0.013%7-day average −0.030% · you sell dearer than you buy
Net, funding: paid 7d − costs−$7as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$170.171% of the position
Funding, last 7 days+0.103%+$10 on $10k
+Price spread, last 3 days (all we have)+0.039%+$4 · spread now +0.013%, 7d avg −0.030%
=Together, before fees+0.142%+ Points / potential airdropExtended: Active · farm board+$14 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Extended is 0.043% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.030%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex BTCUSDT | 86,636.9 | 0.0024 | pay 0.0024% / 8h | 2h 27m | $149.9M | $471.4M | 150x |
| Short | Extended BTC-USD | 86,648.2 | 0.0104 | get 0.0013% / 1h | 27m 56s | $46.4M | $227.9M | 50x |
Phemex BTCUSDT
Extended BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $16.71
- Price spread: +0.013% → −0.030%
- $4.34
- Slippage, 4 orders
- −$0.13
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- $3.92
- Costs to cover
- 0.171%
- Break-even
- 5.4 days
Slippage from Phemex: live order book, 6 min ago; Extended: live order book, 1 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, 6 min ago | 0.01 bp | 6.0 bp −$6 | 6.0 bp −$60 | 7.3 bp −$728 | doesn't fit |
| Sell Extended live order book, 1 min ago | 0.06 bp | 2.6 bp −$3 | 2.6 bp −$26 | 3.1 bp −$306 | 10.0 bp −$5,014 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps BTCUSD | −0.0235% | 1h | 86,626.7 | −0.012% | $85K | $188K | 20x | as long as short |
| Perpl BTC | −0.0223% | 43m | 86,651.2 | +0.017% | $428K | $24.8M | 6.7x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,583 | −0.062% | $2.2M | $12.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,628 | −0.010% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0080% | 1h | 86,626.4 | −0.012% | $17.6M | $20.5M | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,655.1 | +0.021% | $362K | $2.4M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,658.9 | +0.025% | $935.3M | $1.44B | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0002% | 8h | 86,645.4 | +0.010% | $844.3M | $704.7M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,647.7 | +0.012% | $36.8M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0007% | 8h | 86,652.5 | +0.018% | $506.1M | $1.16B | 200x | as long as short |
Aftermath Perps BTCUSD
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0021% | 1h | 86,625.4 | −0.013% | $6.7M | $144.4M | 40x | as long as short |
| BingX BTC-USDC | +0.0023% | 8h | 86,660.5 | +0.027% | — | $15.2M | — | as long as short |
| Phemex BTCUSDTlong | +0.0024% | 8h | 86,636.9 | long leg | $149.9M | $471.4M | 150x | |
| Bitget BTCUSDT | +0.0032% | 8h | 86,662.1 | +0.029% | $2.95B | $5.07B | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,639 | +0.002% | $315K | $26.8M | 52x | as long as short |
| MEXC BTC_USDT | +0.0053% | 8h | 86,661.8 | +0.029% | $5.20B | $5.68B | 500x | as long as short |
| Binance BTCUSDT | +0.0054% | 8h | 86,667.9 | +0.036% | $9.44B | $24.31B | 150x | as long as short |
| Aevo BTC-PERP | +0.0056% | 1h | 86,626.8 | −0.012% | $2.4M | $1.3M | 20x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,649.7 | +0.015% | $9.1M | $42.0M | 25x | as long as short |
| Gate BTC_USDT | +0.0076% | 8h | 86,669.7 | +0.038% | $5.86B | $10.64B | 200x | as long as short |
| OKX BTC-USDT-SWAP | +0.0076% | 8h | 86,679.8 | +0.050% | $2.56B | $12.71B | 100x | as long as short |
| Bybit BTCUSDT | +0.0082% | 8h | 86,668.7 | +0.037% | $5.27B | $9.67B | 150x | as long as short |
| Variational Omni BTC | +0.0095% | 8h | 86,614.5 | −0.026% | $160.3M | $564.8M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,635.2 | −0.002% | $172.0M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,639.7 | +0.003% | $24.0M | $153.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,639 | +0.002% | $8.5M | $52.3M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,632 | −0.006% | $193K | $6.8M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,690.7 | +0.062% | $4.8M | $8.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,638.1 | +0.001% | $21.7M | $235.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,712 | +0.087% | $3.82B | $5.13B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,670.7 | +0.039% | $40.9M | $492.6M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,647 | +0.012% | $3.9M | $18.5M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,710.7 | +0.085% | $7.5M | $93.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,577.9 | −0.068% | $571.8M | $22.4M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,632.7 | −0.005% | $38.1M | $148.4M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,587 | −0.058% | $279.7M | $950.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,622.1 | −0.017% | $217.5M | $187.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,626.6 | −0.012% | $141.4M | $322.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,606.5 | −0.035% | $30.8M | $205.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,686.9 | +0.058% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,642 | +0.006% | $11.1M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,627 | −0.011% | $196K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,642.3 | +0.006% | $2.5M | $8.5M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,653.2 | +0.019% | $141K | $619K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,636.1 | −0.001% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,643.8 | +0.008% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,619 | −0.021% | $60.5M | $336.4M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,626.4 | −0.012% | $2.30B | $957.0M | 200x | as long as short |
| Extended BTC-USDshort | +0.0104% | 1h | 86,648.2 | +0.013% | $46.4M | $227.9M | 50x | |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,660.6 | +0.027% | — | $98.4M | 500x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0117% | 1h | 86,651.4 | +0.017% | $188.7M | $931.8M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,664.1 | +0.031% | $131.9M | $5.86B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0126% | 8h | 86,660 | +0.027% | $8.9M | $723.6M | 6.4x | as long as short |
| BloFin BTC-USDT | +0.0174% | 8h | 86,596.5 | −0.047% | $417.0M | $653.0M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0178% / S −0.0185% | 1h | 86,641.1 | +0.005% | $14.9M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 86,636.4 | −0.001% | $614K | $7.1M | 30x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDC
Bitget BTCUSDT
Injective BTC/USDC PERP
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
RISEx BTC/USDC
Gate BTC_USDT
OKX BTC-USDT-SWAP
Bybit BTCUSDT
Variational Omni BTC
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
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
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Jupiter Perps WBTC-PERP
Kraken Futures PF_XBTUSD
Coinbase International BTC-PERP-INTX
Kalshi KXBTCPERP
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P