Funding you earn now, next payment 00:00 UTC+0.0229%/8h= +25.1% APRnext payment +$2.29 per $10,000 · paid last 24h +0.116%
Price spread now: Phemex against BingX+0.218%51s7-day average +0.191% · you sell dearer than you buy
Net, funding: paid 7d − costs+$8as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$610.613% of the position
Funding, last 7 days+0.688%+$69 on $10k
+Price spread, last 3 days (all we have)−0.107%−$11 · spread now +0.218%, 7d avg +0.191%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phemex is 0.027% dearer against BingX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.191%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX DOT-USDT | 1.1954 | 0.0100 | pay 0.0100% / 8h | 2h 15m | — | $28.5M | — |
| Short | Phemex DOTUSDT | 1.1980 | 0.0329 | get 0.0329% / 8h | 2h 15m | $2.2M | $2.1M | 50x |
BingX DOT-USDT
Phemex DOTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against BingX. 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
- $48.18
- Price spread: +0.218% → +0.191%
- $2.66
- Slippage, 4 orders
- −$39.26
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$10.42
- Costs to cover
- 0.613%
- Break-even
- 8.5 days
Slippage from BingX: live order book, 8 min ago; Phemex: live order book, 3 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 BingX live order book, 8 min ago | 0.41 bp | 5.4 bp −$5 | 11.4 bp −$114 | 38.6 bp −$3,861 | 194.5 bp −$97.2K |
| Sell Phemex live order book, 3 min ago | 4.16 bp | 21.6 bp −$22 | 53.9 bp −$539 | 120.5 bp −$12.1K | 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 | −0.0668% | 1h | 1.1971 | +0.142% | $219K | $118K | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.1952 | −0.018% | $259 | — | — | as long as short |
| Kraken Futures PF_DOTUSD | −0.0128% | 1h | 1.1970 | +0.132% | $4.5M | $1.3M | 50x | as long as short |
| Injective DOT/USDC PERP | −0.0080% | 1h | 1.2020 | +0.552% | $328 | $121K | 12x | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0064% | 1h | 1.1970 | +0.134% | $186K | $1.8M | 50x | as long as short |
| OKX DOT-USDT-SWAP | −0.0029% | 8h | 1.1953 | −0.008% | $9.4M | $23.4M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1967 | +0.112% | $144K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.1965 | +0.088% | $5K | — | 150x | as long as short |
| KuCoin DOTUSDTM | +0.0021% | 8h | 1.1957 | +0.025% | $6.8M | $8.7M | 75x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.1964 | +0.079% | $267K | $580K | 10x | as long as short |
Deribit DOT_USDC-PERPETUAL
Reya DOTRUSDPERP
Kraken Futures PF_DOTUSD
Injective DOT/USDC PERP
Coinbase International DOT-PERP-INTX
OKX DOT-USDT-SWAP
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
KuCoin DOTUSDTM
Lighter DOTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended DOT-USD | +0.0096% | 1h | 1.1951 | −0.021% | $15K | $240K | 25x | as long as short |
| Binance DOTUSDT | +0.0096% | 8h | 1.1956 | +0.017% | $44.1M | $81.0M | 75x | as long as short |
| MEXC DOT_USDT | +0.0099% | 8h | 1.1957 | +0.025% | $34.6M | $35.6M | 300x | as long as short |
| Hyperliquid DOT | +0.0100% | 1h | 1.1965 | +0.092% | $5.3M | $3.1M | 10x | as long as short |
| Aster DOTUSDT | +0.0100% | 8h | 1.1977 | +0.195% | $889K | $649K | 50x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.1951 | −0.025% | $24.4M | $17.8M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.1960 | +0.050% | $6.9M | $11.5M | 75x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.1960 | +0.050% | $22.9M | $13.9M | 75x | as long as short |
| BingX DOT-USDTlong | +0.0100% | 8h | 1.1954 | long leg | — | $28.5M | — | |
| Backpack DOT_USDC_PERP | +0.0100% | 1h | 1.1961 | +0.059% | $99K | $127K | 10x | as long as short |
| Variational Omni DOT | +0.0100% | 8h | 1.2013 | +0.492% | $547K | $91K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.1969 | +0.122% | $35K | $333K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.1970 | +0.135% | $232K | $469K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.1960 | +0.050% | $8K | $26K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.1983 | +0.243% | $2K | $1.2M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.1961 | +0.059% | $247K | $219K | 75x | as long as short |
| BloFin DOT-USDT | +0.0219% | 8h | 1.1970 | +0.134% | $2.3M | $763K | 75x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0297% / S −0.0774% | 1h | 1.1963 | +0.074% | $22K | — | 100x | as long as short |
| Phemex DOTUSDTshort | +0.0329% | 8h | 1.1980 | +0.218% | $2.2M | $2.1M | 50x |
Extended DOT-USD
Binance DOTUSDT
MEXC DOT_USDT
Hyperliquid DOT
Aster DOTUSDT
Bybit DOTUSDT
Gate DOT_USDT
Bitget DOTUSDT
Backpack DOT_USDC_PERP
Variational Omni DOT
edgeX DOTUSDC
GRVT DOT_USDT_Perp
Orderly PERP_DOT_USDC
SunX DOT-USDT
HTX DOT-USDT
BloFin DOT-USDT
GMX DOT/USD [WBTC.b-USDC]