Funding you earn now, next payment 00:00 UTC+0.0299%/8h= +32.8% APRnext payment +$2.99 per $10,000 · paid last 24h +0.121%
Price spread now: Phemex against Bybit−0.034%7-day average +0.219% · you buy dearer than you sell
Net, funding: paid 7d − costs+$7as in the Funding arb table
Net, price: spread back to 7d avg − costs−$92as in the Price arb table
costs, in and out, $10k−$670.668% of the position
Funding, last 7 days+0.741%+$74 on $10k
+Price spread, last 3 days (all we have)+0.034%+$3 · spread now −0.034%, 7d avg +0.219%
=Funding pays, the price is against you. Phemex is 0.253% cheaper against Bybit than usual: you would sell low and buy high (spread −0.034% now, against its 7-day average of +0.219%). If the spread goes back, that is −$25 on $10k: about 2.8 days of funding at the current rate (+$9 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit DOTUSDT | 1.1834 | 0.0100 | pay 0.0100% / 8h | 2h 53m | $24.3M | $17.8M | 75x |
| Short | Phemex DOTUSDT | 1.1830 | 0.0399 | get 0.0399% / 8h | 2h 53m | $2.1M | $2.1M | 50x |
Bybit DOTUSDT
Phemex DOTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bybit. 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
- $62.83
- Price spread: −0.034% → +0.219%
- −$25.26
- Slippage, 4 orders
- −$43.78
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$29.21
- Costs to cover
- 0.668%
- Break-even
- 10.3 days
Slippage from Bybit: live order book, 5 min ago; Phemex: live order book, 5 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 Bybit live order book, 5 min ago | 0.42 bp | 8.7 bp −$9 | 22.4 bp −$224 | 88.7 bp −$8,870 | doesn't fit |
| Sell Phemex live order book, 5 min ago | 8.45 bp | 21.7 bp −$22 | 54.4 bp −$544 | 119.0 bp −$11.9K | 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 | −0.1185% | 1h | 1.1833 | −0.008% | $216K | $118K | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.1803 | −0.264% | $255 | — | — | as long as short |
| Kraken Futures PF_DOTUSD | −0.0129% | 1h | 1.1836 | +0.013% | $4.4M | $1.3M | 50x | as long as short |
| Injective DOT/USDC PERP | −0.0080% | 1h | 1.1820 | −0.118% | $323 | $83K | 12x | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0064% | 1h | 1.1820 | −0.118% | $189K | $1.8M | 50x | as long as short |
| OKX DOT-USDT-SWAP | −0.0045% | 8h | 1.1838 | +0.034% | $9.3M | $23.0M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1830 | −0.034% | $142K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.1829 | −0.043% | $3K | — | 150x | as long as short |
| KuCoin DOTUSDTM | +0.0046% | 8h | 1.1824 | −0.085% | $6.7M | $8.7M | 75x | as long as short |
| Backpack DOT_USDC_PERP | +0.0093% | 1h | 1.1828 | −0.051% | $94K | $121K | 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
Backpack DOT_USDC_PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter DOT | +0.0096% | 1h | 1.1828 | −0.053% | $259K | $563K | 10x | as long as short |
| Hyperliquid DOT | +0.0100% | 1h | 1.1838 | +0.034% | $5.3M | $3.1M | 10x | as long as short |
| Aster DOTUSDT | +0.0100% | 8h | 1.1843 | +0.074% | $887K | $650K | 50x | as long as short |
| Binance DOTUSDT | +0.0100% | 8h | 1.1835 | +0.008% | $43.8M | $80.2M | 75x | as long as short |
| Bybit DOTUSDTlong | +0.0100% | 8h | 1.1834 | long leg | $24.3M | $17.8M | 75x | |
| Gate DOT_USDT | +0.0100% | 8h | 1.1830 | −0.034% | $6.8M | $11.2M | 75x | as long as short |
| MEXC DOT_USDT | +0.0100% | 8h | 1.1835 | +0.008% | $30.9M | $33.6M | 300x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.1833 | −0.008% | $22.8M | $13.5M | 75x | as long as short |
| BingX DOT-USDT | +0.0100% | 8h | 1.1832 | −0.017% | — | $28.5M | — | as long as short |
| Variational Omni DOT | +0.0100% | 8h | 1.1848 | +0.122% | $539K | $92K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.1851 | +0.141% | $35K | $331K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.1859 | +0.213% | $230K | $478K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.1820 | −0.118% | $8K | $27K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.1858 | +0.203% | $2K | $1.2M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.1859 | +0.211% | $246K | $206K | 75x | as long as short |
| Extended DOT-USD | +0.0104% | 1h | 1.1834 | +0.001% | $15K | $240K | 25x | as long as short |
| BloFin DOT-USDT | +0.0220% | 8h | 1.1844 | +0.085% | $2.3M | $757K | 75x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0300% / S −0.1014% | 1h | 1.1829 | −0.045% | $22K | — | 100x | as long as short |
| Phemex DOTUSDTshort | +0.0399% | 8h | 1.1830 | −0.034% | $2.1M | $2.1M | 50x |
Lighter DOT
Hyperliquid DOT
Aster DOTUSDT
Binance DOTUSDT
Gate DOT_USDT
MEXC DOT_USDT
Bitget DOTUSDT
BingX DOT-USDT
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]