Funding you earn now, next payment 07:00 UTC+0.0079%/8h= +8.7% APRpaid last 24h +0.087%
Price spread now: Phemex against Backpack+0.094%7-day average +0.163% · you sell dearer than you buy
Net, funding: paid 7d − costs+$25as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$490.490% of the position
Funding, last 7 days+0.737%+$74 on $10k
+Price spread, last 4 days (all we have)+0.071%+$7 · spread now +0.094%, 7d avg +0.163%
=Funding pays, the price is against you. Phemex is 0.068% cheaper against Backpack than usual: you would sell low and buy high (spread +0.094% now, against its 7-day average of +0.163%). If the spread goes back, that is −$7 on $10k: about 2.9 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.737% in total) that is about 16 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack DOT_USDC_PERP | 1.1659 | 0.0100 | pay 0.0013% / 1h | 9m 04s | $91K | $130K | 10x |
| Short | Phemex DOTUSDT | 1.1670 | 0.0179 | get 0.0179% / 8h | 1h 09m | $2.4M | $2.2M | 50x |
Backpack DOT_USDC_PERP
Phemex DOTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Backpack. 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
- $16.64
- Price spread: +0.094% → +0.163%
- −$6.84
- Slippage, 4 orders
- −$26.96
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$39.16
- Costs to cover
- 0.490%
- Break-even
- 23.5 days
Slippage from Backpack: live order book, 34 min ago; Phemex: live order book, 4 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 Backpack live order book, 34 min ago | 0.43 bp | 6.7 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 4.28 bp | 17.4 bp −$17 | 42.2 bp −$422 | 114.3 bp −$11.4K | doesn't fit |
DOT on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit DOT_USDC-PERPETUAL | −0.3592% | 1h | 1.1666 | +0.060% | $247K | $152K | 50x | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0440% | 1h | 1.1660 | +0.009% | $170K | $2.0M | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.1653 | −0.049% | $252 | — | — | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1656 | −0.029% | $140K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.1654 | −0.043% | $3K | — | 150x | as long as short |
| Injective DOT/USDC PERP | +0.0033% | 1h | 1.2020 | +3.096% | $328 | $121K | 12x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.1660 | +0.006% | $246K | $677K | 10x | as long as short |
| Hyperliquid DOT | +0.0100% | 1h | 1.1655 | −0.034% | $5.6M | $4.6M | 10x | as long as short |
| Aster DOTUSDT | +0.0100% | 8h | 1.1655 | −0.034% | $839K | $607K | 50x | as long as short |
| Binance DOTUSDT | +0.0100% | 8h | 1.1653 | −0.053% | $42.5M | $88.8M | 75x | as long as short |
Deribit DOT_USDC-PERPETUAL
Coinbase International DOT-PERP-INTX
Reya DOTRUSDPERP
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
Injective DOT/USDC PERP
Lighter DOT
Hyperliquid DOT
Aster DOTUSDT
Binance DOTUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit DOTUSDT | +0.0100% | 8h | 1.1646 | −0.112% | $23.6M | $20.2M | 75x | as long as short |
| OKX DOT-USDT-SWAP | +0.0100% | 8h | 1.1650 | −0.077% | $9.0M | $25.3M | 50x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.1660 | +0.009% | $6.7M | $12.9M | 75x | as long as short |
| MEXC DOT_USDT | +0.0100% | 8h | 1.1659 | 0.000% | $35.1M | $61.8M | 300x | as long as short |
| KuCoin DOTUSDTM | +0.0100% | 8h | 1.1662 | +0.026% | $6.2M | $9.4M | 75x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.1650 | −0.077% | $22.3M | $14.8M | 75x | as long as short |
| BingX DOT-USDC | +0.0100% | 8h | 1.1657 | −0.017% | — | $1.3M | — | as long as short |
| Backpack DOT_USDC_PERPlong | +0.0100% | 1h | 1.1659 | long leg | $91K | $130K | 10x | |
| Variational Omni DOT | +0.0100% | 8h | 1.1651 | −0.066% | $530K | $51K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.1664 | +0.043% | $34K | $334K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.1652 | −0.056% | $223K | $432K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.1660 | +0.009% | $8K | $19K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.1673 | +0.120% | $2K | $1.3M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.1691 | +0.274% | $263K | $280K | 75x | as long as short |
| Extended DOT-USD | +0.0104% | 1h | 1.1652 | −0.057% | $17K | $243K | 25x | as long as short |
| Phemex DOTUSDTshort | +0.0179% | 8h | 1.1670 | +0.094% | $2.4M | $2.2M | 50x | |
| BloFin DOT-USDT | +0.0220% | 8h | 1.1656 | −0.026% | $1.9M | $901K | 75x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0291% / S −0.0937% | 1h | 1.1654 | −0.043% | $20K | — | 100x | as long as short |
| Kraken Futures PF_DOTUSD | +0.0328% | 1h | 1.1663 | +0.031% | $4.3M | $1.5M | 50x | as long as short |
Bybit DOTUSDT
OKX DOT-USDT-SWAP
Gate DOT_USDT
MEXC DOT_USDT
KuCoin DOTUSDTM
Bitget DOTUSDT
BingX DOT-USDC
Variational Omni DOT
edgeX DOTUSDC
GRVT DOT_USDT_Perp
Orderly PERP_DOT_USDC
SunX DOT-USDT
HTX DOT-USDT
Extended DOT-USD
BloFin DOT-USDT
GMX DOT/USD [WBTC.b-USDC]
Kraken Futures PF_DOTUSD