Funding you earn now, next payment 23:00 UTC+0.1095%/8h= +119.8% APRpaid last 24h +0.307%
Price spread now: Phemex against Deribit−0.025%7-day average +0.119% · you buy dearer than you sell
Net, funding: paid 7d − costs+$87as in the Funding arb table
Net, price: spread back to 7d avg − costs−$84as in the Price arb table
costs, in and out, $10k−$690.694% of the position
Funding, last 7 days+1.567%+$157 on $10k
+Price spread, last 3 days (all we have)+0.192%+$19 · spread now −0.025%, 7d avg +0.119%
=Funding pays, the price is against you. Phemex is 0.144% cheaper against Deribit than usual: you would sell low and buy high (spread −0.025% now, against its 7-day average of +0.119%). If the spread goes back, that is −$14 on $10k: about 10 hours of funding at the current rate (+$33 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit DOT_USDC-PERPETUAL | 1.1983 | −0.0750 | get 0.0094% / 1h | 53m 57s | $219K | $117K | 50x |
| Short | Phemex DOTUSDT | 1.1980 | 0.0345 | get 0.0345% / 8h | 1h 53m | $2.2M | $2.1M | 50x |
Deribit DOT_USDC-PERPETUAL
Phemex DOTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Deribit. 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
- $229.85
- Price spread: −0.025% → +0.119%
- −$14.36
- Slippage, 4 orders
- −$50.36
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $146.12
- Costs to cover
- 0.694%
- Break-even
- 2.5 days
Slippage from Deribit: live order book, 30 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 Deribit live order book, 30 min ago | 9.54 bp | 14.7 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 4.20 bp | 17.8 bp −$18 | 54.4 bp −$544 | 123.3 bp −$12.3K | 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-PERPETUALlong | −0.0750% | 1h | 1.1983 | long leg | $219K | $117K | 50x | |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.1971 | −0.099% | $259 | — | — | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0128% | 1h | 1.1940 | −0.359% | $184K | $1.8M | 50x | as long as short |
| Kraken Futures PF_DOTUSD | −0.0054% | 1h | 1.1980 | −0.025% | $4.5M | $1.3M | 50x | as long as short |
| Injective DOT/USDC PERP | −0.0040% | 1h | 1.2020 | +0.309% | $328 | $121K | 12x | as long as short |
| OKX DOT-USDT-SWAP | −0.0027% | 8h | 1.1957 | −0.217% | $9.4M | $23.4M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1987 | +0.034% | $144K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.1977 | −0.050% | $5K | — | 150x | as long as short |
| KuCoin DOTUSDTM | +0.0018% | 8h | 1.1965 | −0.150% | $6.8M | $8.7M | 75x | as long as short |
| MEXC DOT_USDT | +0.0051% | 8h | 1.1960 | −0.192% | $36.1M | $35.8M | 300x | as long as short |
Reya DOTRUSDPERP
Coinbase International DOT-PERP-INTX
Kraken Futures PF_DOTUSD
Injective DOT/USDC PERP
OKX DOT-USDT-SWAP
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
KuCoin DOTUSDTM
MEXC DOT_USDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance DOTUSDT | +0.0055% | 8h | 1.1961 | −0.184% | $44.0M | $80.7M | 75x | as long as short |
| Extended DOT-USD | +0.0056% | 1h | 1.1963 | −0.169% | $15K | $235K | 25x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.1964 | −0.159% | $251K | $593K | 10x | as long as short |
| Hyperliquid DOT | +0.0100% | 1h | 1.1972 | −0.092% | $5.3M | $3.2M | 10x | as long as short |
| Aster DOTUSDT | +0.0100% | 8h | 1.1964 | −0.158% | $888K | $649K | 50x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.1956 | −0.225% | $24.4M | $17.9M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.1970 | −0.108% | $6.8M | $11.4M | 75x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.1960 | −0.192% | $22.9M | $14.0M | 75x | as long as short |
| BingX DOT-USDT | +0.0100% | 8h | 1.1963 | −0.167% | — | $28.5M | — | as long as short |
| Backpack DOT_USDC_PERP | +0.0100% | 1h | 1.1964 | −0.159% | $99K | $127K | 10x | as long as short |
| Variational Omni DOT | +0.0100% | 8h | 1.1951 | −0.263% | $543K | $69K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.1893 | −0.748% | $35K | $331K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.1911 | −0.600% | $231K | $469K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.1970 | −0.108% | $8K | $25K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.1993 | +0.083% | $1K | $1.2M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.1976 | −0.058% | $247K | $219K | 75x | as long as short |
| BloFin DOT-USDT | +0.0172% | 8h | 1.1980 | −0.025% | $2.2M | $766K | 75x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0303% / S −0.0979% | 1h | 1.1979 | −0.033% | $22K | — | 100x | as long as short |
| Phemex DOTUSDTshort | +0.0345% | 8h | 1.1980 | −0.025% | $2.2M | $2.1M | 50x |
Binance DOTUSDT
Extended DOT-USD
Lighter DOT
Hyperliquid DOT
Aster DOTUSDT
Bybit DOTUSDT
Gate DOT_USDT
Bitget DOTUSDT
BingX DOT-USDT
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]