Funding you earn now, next payment 23:00 UTC+0.0363%/8h= +39.7% APRpaid last 24h +0.149%
Price spread now: Phemex against Kraken Futures+0.034%7-day average +0.131% · you sell dearer than you buy
Net, funding: paid 7d − costs+$4as in the Funding arb table
Net, price: spread back to 7d avg − costs−$81as in the Price arb table
costs, in and out, $10k−$720.715% of the position
Funding, last 7 days+0.759%+$76 on $10k
+Price spread, last 3 days (all we have)+0.153%+$15 · spread now +0.034%, 7d avg +0.131%
=Funding pays, the price is against you. Phemex is 0.097% cheaper against Kraken Futures than usual: you would sell low and buy high (spread +0.034% now, against its 7-day average of +0.131%). If the spread goes back, that is −$10 on $10k: about 21 hours of funding at the current rate (+$11 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_DOTUSD | 1.2016 | −0.0053 | get 0.0007% / 1h | 36m 34s | $4.5M | $1.3M | 50x |
| Short | Phemex DOTUSDT | 1.2020 | 0.0309 | get 0.0309% / 8h | 1h 36m | $2.2M | $2.1M | 50x |
Kraken Futures PF_DOTUSD
Phemex DOTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Kraken Futures. 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
- $76.16
- Price spread: +0.034% → +0.131%
- −$9.7
- Slippage, 4 orders
- −$49.52
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$5.06
- Costs to cover
- 0.715%
- Break-even
- 7.5 days
Slippage from Kraken Futures: live order book, 2 min ago; Phemex: live order book, 2 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 Kraken Futures live order book, 2 min ago | 2.91 bp | 13.5 bp −$13 | 25.5 bp −$255 | 203.9 bp −$20.4K | doesn't fit |
| Sell Phemex live order book, 2 min ago | 4.16 bp | 21.0 bp −$21 | 49.3 bp −$493 | 107.8 bp −$10.8K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.2002 | −0.117% | $260 | — | — | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0128% | 1h | 1.2020 | +0.034% | $185K | $1.8M | 50x | as long as short |
| Kraken Futures PF_DOTUSDlong | −0.0053% | 1h | 1.2016 | long leg | $4.5M | $1.3M | 50x | |
| Injective DOT/USDC PERP | −0.0040% | 1h | 1.2020 | +0.034% | $328 | $121K | 12x | as long as short |
| OKX DOT-USDT-SWAP | −0.0029% | 8h | 1.1982 | −0.283% | $9.5M | $23.6M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1994 | −0.182% | $144K | $6K | 10x | as long as short |
| Deribit DOT_USDC-PERPETUAL | 0.0000% | 1h | 1.2015 | −0.008% | $219K | $117K | 50x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.2012 | −0.033% | $5K | — | 150x | as long as short |
| KuCoin DOTUSDTM | +0.0021% | 8h | 1.1988 | −0.233% | $6.8M | $8.6M | 75x | as long as short |
| Extended DOT-USD | +0.0080% | 1h | 1.1976 | −0.331% | $15K | $235K | 25x | as long as short |
Reya DOTRUSDPERP
Coinbase International DOT-PERP-INTX
Injective DOT/USDC PERP
OKX DOT-USDT-SWAP
dYdX DOT-USD
Deribit DOT_USDC-PERPETUAL
gTrade (Gains Network) DOT/USD
KuCoin DOTUSDTM
Extended DOT-USDShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC DOT_USDT | +0.0081% | 8h | 1.1981 | −0.291% | $26.8M | $36.6M | 300x | as long as short |
| Binance DOTUSDT | +0.0083% | 8h | 1.1981 | −0.291% | $44.1M | $80.7M | 75x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.1989 | −0.220% | $252K | $593K | 10x | as long as short |
| Hyperliquid DOT | +0.0100% | 1h | 1.1998 | −0.151% | $5.3M | $3.2M | 10x | as long as short |
| Aster DOTUSDT | +0.0100% | 8h | 1.1994 | −0.182% | $891K | $649K | 50x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.1976 | −0.332% | $24.5M | $17.9M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.1980 | −0.299% | $6.8M | $11.4M | 75x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.1980 | −0.299% | $23.0M | $14.1M | 75x | as long as short |
| BingX DOT-USDT | +0.0100% | 8h | 1.1980 | −0.299% | — | $28.5M | — | as long as short |
| Backpack DOT_USDC_PERP | +0.0100% | 1h | 1.2006 | −0.083% | $99K | $125K | 10x | as long as short |
| Variational Omni DOT | +0.0100% | 8h | 1.2008 | −0.065% | $547K | $63K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.2031 | +0.126% | $35K | $332K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.2030 | +0.117% | $233K | $456K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.2010 | −0.050% | $8K | $24K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.2023 | +0.059% | $2K | $1.2M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.2015 | −0.008% | $248K | $219K | 75x | as long as short |
| BloFin DOT-USDT | +0.0202% | 8h | 1.2009 | −0.058% | $2.2M | $764K | 75x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0304% / S −0.1025% | 1h | 1.2012 | −0.036% | $23K | — | 100x | as long as short |
| Phemex DOTUSDTshort | +0.0309% | 8h | 1.2020 | +0.034% | $2.2M | $2.1M | 50x |
MEXC DOT_USDT
Binance DOTUSDT
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]