Funding you earn now, next payment 16:00 UTC+0.0152%/8h= +16.7% APRnext payment +$1.52 per $10,000 · paid last 24h +0.017%
Price spread now: SunX against Phemex−0.018%7-day average −0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$230.230% of the position
Funding, last 7 days+0.053%+$5 on $10k
+Price spread, last 4 days (all we have)+0.013%+$1 · spread now −0.018%, 7d avg −0.009%
=The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex BTCUSDT | 85,416.7 | −0.0052 | get 0.0052% / 8h | 7h 56m | $159.5M | $517.0M | 150x |
| Short | SunX BTC-USDT | 85,401.4 | 0.0100 | get 0.0100% / 8h | 7h 56m | $2.9M | $6.1M | 100x |
Phemex BTCUSDT
SunX BTC-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX 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
- $31.98
- Price spread: −0.018% → −0.009%
- −$0.88
- Slippage, 4 orders
- −$2.99
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- $8.1
- Costs to cover
- 0.230%
- Break-even
- 5.2 days
Slippage from Phemex: live order book, 3 min ago; SunX: live order book, 12 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, 3 min ago | 0.01 bp | 6.0 bp −$6 | 6.6 bp −$66 | 7.7 bp −$769 | doesn't fit |
| Sell SunX live order book, 12 min ago | 0.57 bp | 5.7 bp −$6 | 6.1 bp −$61 | 7.9 bp −$786 | 11.0 bp −$5,517 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,396 | −0.024% | $8K | $2K | 50x | as long as short |
| Phemex BTCUSDTlong | −0.0052% | 8h | 85,416.7 | long leg | $159.5M | $517.0M | 150x | |
| Phoenix BTC | −0.0034% | 1h | 85,441 | +0.028% | $2.3M | $10.4M | 40x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,412.1 | −0.005% | $425.2M | $685.6M | 150x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 85,412 | −0.006% | $307K | $22.9M | 52x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,406.7 | −0.012% | $344K | $2.3M | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0001% | 8h | 85,409 | −0.009% | $928.3M | $776.8M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,418.5 | +0.002% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0023% | 8h | 85,402.1 | −0.017% | $502.1M | $1.09B | 200x | as long as short |
| dYdX BTC-USD | +0.0032% | 1h | 85,413.1 | −0.004% | $16.7M | $21.0M | 50x | as long as short |
Hotstuff BTC-PERP
Phoenix BTC
BloFin BTC-USDT
Injective BTC/USDC PERP
01 Exchange BTCUSD
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
dYdX BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit BTC-PERPETUAL | +0.0041% | 1h | 85,440.9 | +0.028% | $829.4M | $1.67B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0068% | 1h | 85,419.2 | +0.003% | $186.4M | $953.7M | 100x | as long as short |
| BingX BTC-USDC | +0.0069% | 8h | 85,381.5 | −0.041% | — | $17.5M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,417.1 | 0.000% | $169.8M | $936.2M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,414.3 | −0.003% | $23.6M | $133.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,396 | −0.024% | $8.7M | $58.4M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,413.9 | −0.003% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,377 | −0.046% | $263K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,449.4 | +0.038% | $5.7M | $9.6M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 85,411.5 | −0.006% | $24.1M | $220.0M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,434.4 | +0.021% | $40.2M | $604.6M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,397.9 | −0.022% | $9.40B | $25.19B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,394.8 | −0.026% | $5.08B | $10.04B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,383.9 | −0.038% | $2.61B | $12.24B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,401 | −0.018% | $3.8M | $17.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,417.1 | 0.000% | $4.6M | $97.6M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,382 | −0.041% | $697.9M | $180.4M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,399.6 | −0.020% | $5.46B | $9.81B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,402.2 | −0.017% | $5.01B | $5.71B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,397.1 | −0.023% | $2.97B | $5.18B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,410.9 | −0.007% | $37.5M | $192.6M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,265.8 | −0.177% | $155.3M | $548.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,309.9 | −0.125% | $282.9M | $958.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,349.1 | −0.079% | $214.2M | $159.0M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,343.3 | −0.086% | $138.1M | $312.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,422.2 | +0.006% | $30.1M | $216.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,495.1 | +0.092% | — | $9.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,327 | −0.105% | $10.9M | $14.9M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,422 | +0.006% | $200K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,419.3 | +0.003% | $2.7M | $9.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,463.2 | +0.054% | $194K | $796K | 40x | as long as short |
| SunX BTC-USDTshort | +0.0100% | 8h | 85,401.4 | −0.018% | $2.9M | $6.1M | 100x | |
| SoDEX BTC-USD | +0.0100% | 1h | 85,409 | −0.009% | $59.8M | $336.6M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,412.9 | −0.004% | $2.26B | $975.2M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,372 | −0.052% | $45.7M | $241.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,396.6 | −0.023% | — | $106.7M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,450 | +0.039% | $111.7M | $5.47B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0146% | 1h | 85,407 | −0.011% | $6.6M | $140.7M | 40x | as long as short |
| Derive BTC-PERP | +0.0170% | 1h | 85,488.3 | +0.084% | $28.8M | $49.6M | 15x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0174% / S −0.0149% | 1h | 85,419 | +0.003% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0175% | 8h | 85,445 | +0.033% | $11.8M | $739.8M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,425.1 | +0.010% | $8.9M | $42.9M | 25x | as long as short |
| Hyperliquid BTC | +0.0262% | 1h | 85,495 | +0.092% | $3.79B | $5.12B | 40x | as long as short |
| Aftermath Perps BTCUSD | +0.0283% | 1h | 85,342.7 | −0.087% | $81K | $249K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0320% | 1h | 85,377.1 | −0.046% | $683K | $7.8M | 30x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,417.3 | +0.001% | $471K | $18.4M | 6.7x | as long as short |
Deribit BTC-PERPETUAL
Kraken Futures PF_XBTUSD
BingX BTC-USDC
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Pacifica BTC
Binance BTCUSDT
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
Bluefin BTC-PERP
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Derive BTC-PERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
RISEx BTC/USDC
Hyperliquid BTC
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
Perpl BTC