Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%
Price spread now: SoDEX against Phemex−0.033%7-day average −0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$210.206% of the position
Funding, last 3 days (all we have)+0.014%+$1 on $10k
+Price spread, last 4 days (all we have)+0.043%+$4 · spread now −0.033%, 7d avg −0.004%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.029% cheaper against Phemex than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.004%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex BTCUSDT | 85,322.3 | 0.0100 | pay 0.0100% / 8h | 1h 32m | $151.4M | $509.6M | 150x |
| Short | SoDEX BTC-USD | 85,294 | 0.0100 | get 0.0013% / 1h | 32m 30s | $59.7M | $336.8M | 40x |
Phemex BTCUSDT
SoDEX BTC-USDFunding 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 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: −0.033% → −0.004%
- −$2.92
- Slippage, 4 orders
- −$0.61
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$23.53
- Costs to cover
- 0.206%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 2 min ago; SoDEX: live order book, 2 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, 2 min ago | 0.01 bp | 6.0 bp −$6 | 6.6 bp −$66 | 7.5 bp −$749 | doesn't fit |
| Sell SoDEX live order book, 2 min ago | 0.06 bp | 4.1 bp −$4 | 4.1 bp −$41 | 5.8 bp −$580 | 47.4 bp −$23.7K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0082% | 1h | 85,242 | −0.094% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,293 | −0.034% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0045% | 8h | 85,265.3 | −0.067% | $927.5M | $773.4M | 125x | as long as short |
| BloFin BTC-USDT | −0.0029% | 8h | 85,299.8 | −0.026% | $421.2M | $682.4M | 150x | as long as short |
| Aster BTCUSDT | −0.0012% | 8h | 85,268.6 | −0.063% | $512.4M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,279.3 | −0.050% | $353K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,299.9 | −0.026% | $494K | $18.5M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,326.5 | +0.005% | $16.7M | $21.4M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,316.3 | −0.007% | $36.5M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0043% | 1h | 85,299 | −0.027% | $24.4M | $222.4M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni BTCUSDT | +0.0055% | 1h | 85,263.5 | −0.069% | $139.4M | $314.4M | 100x | as long as short |
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,247 | −0.088% | $338K | $26.8M | 52x | as long as short |
| BingX BTC-USDC | +0.0070% | 8h | 85,253.7 | −0.080% | — | $17.4M | — | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,285.5 | −0.043% | $2.4M | $6.7M | 20x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,324.6 | +0.003% | $186.1M | $957.8M | 100x | as long as short |
| Bitget BTCUSDT | +0.0089% | 8h | 85,274.2 | −0.056% | $2.96B | $5.18B | 150x | as long as short |
| MEXC BTC_USDT | +0.0091% | 8h | 85,266.8 | −0.065% | $5.01B | $5.75B | 500x | as long as short |
| Binance BTCUSDT | +0.0091% | 8h | 85,265.3 | −0.067% | $9.42B | $24.96B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,307.4 | −0.017% | $170.0M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,284.5 | −0.044% | $23.5M | $148.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,270 | −0.061% | $8.4M | $56.3M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,249 | −0.086% | $236K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,327.5 | +0.006% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,380 | +0.068% | $3.74B | $5.08B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,315.8 | −0.008% | $40.2M | $604.4M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,261.4 | −0.071% | $5.14B | $9.99B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,260.6 | −0.072% | $2.59B | $12.24B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,273 | −0.058% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,273 | −0.058% | $5.2M | $99.1M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,281.3 | −0.048% | $5.49B | $11.00B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,297.8 | −0.029% | $36.9M | $179.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,207.8 | −0.134% | $154.6M | $557.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,237.8 | −0.099% | $279.3M | $950.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,263.3 | −0.069% | $214.1M | $166.1M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,286.9 | −0.042% | $30.1M | $203.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,346.7 | +0.029% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,302 | −0.024% | $11.0M | $14.6M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,302 | −0.024% | $203K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,297.5 | −0.029% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,336.1 | +0.016% | $193K | $795K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,214.5 | −0.126% | $29.9M | $47.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,290 | −0.038% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USDshort | +0.0100% | 1h | 85,294 | −0.033% | $59.7M | $336.8M | 40x | |
| HTX BTC-USDT | +0.0100% | 8h | 85,297.9 | −0.029% | $2.26B | $968.5M | 200x | as long as short |
| Phemex BTCUSDTlong | +0.0100% | 8h | 85,322.3 | long leg | $151.4M | $509.6M | 150x | |
| Bulk BTC-USD | +0.0100% | 1h | 85,269.9 | −0.061% | $683.1M | $415.1M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,249.4 | −0.085% | $44.8M | $240.7M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,257.9 | −0.075% | — | $107.0M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,350 | +0.032% | $116.2M | $5.46B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0108% | 1h | 85,344.7 | +0.026% | $862.3M | $1.64B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0128% | 1h | 85,293.3 | −0.034% | $6.6M | $147.6M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0152% | 1h | 85,243.6 | −0.092% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0183% | 8h | 85,305 | −0.020% | $11.8M | $741.3M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0193% | 1h | 85,316.3 | −0.007% | $8.7M | $42.9M | 25x | as long as short |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,271.9 | −0.059% | $684K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0270% | 1h | 85,281.2 | −0.048% | $79K | $230K | 20x | as long as short |
ApeX Omni BTCUSDT
Injective BTC/USDC PERP
BingX BTC-USDC
Aevo BTC-PERP
Kraken Futures PF_XBTUSD
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
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
HTX BTC-USDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
RISEx BTC/USDC
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD