Funding you earn now, next payment 23:00 UTC−0.0259%/8h= −28.3% APRpaid last 24h −0.118%
Price spread now: Backpack against Phemex+0.059%7-day average −0.164% · you sell dearer than you buy
Net, funding: paid 7d − costs−$131as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$570.573% of the position
Funding, last 7 days−0.733%−$73 on $10k
+Price spread, last 3 days (all we have)−0.160%−$16 · spread now +0.059%, 7d avg −0.164%
=The price spread pays, funding is against you. Backpack is 0.223% dearer against Phemex than usual: you sell high and buy low (spread +0.059% now, against its 7-day average of −0.164%): +$22 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.9 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex DOTUSDT | 1.1930 | 0.0359 | pay 0.0359% / 8h | 1h 57m | $2.2M | $2.1M | 50x |
| Short | Backpack DOT_USDC_PERP | 1.1937 | 0.0100 | get 0.0013% / 1h | 57m 04s | $99K | $127K | 10x |
Phemex DOTUSDT
Backpack DOT_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Phemex. 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
- −$54.3
- Price spread: +0.059% → −0.164%
- $22.25
- Slippage, 4 orders
- −$35.35
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$89.39
- Costs to cover
- 0.573%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 1 min ago; Backpack: live order book, 26 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 Phemex live order book, 1 min ago | 4.20 bp | 23.8 bp −$24 | 62.1 bp −$621 | 112.8 bp −$11.3K | doesn't fit |
| Sell Backpack live order book, 26 min ago | 1.25 bp | 8.7 bp −$9 | doesn't fit | doesn't fit | 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 | −0.0838% | 1h | 1.1934 | +0.034% | $218K | $117K | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.1911 | −0.158% | $258 | — | — | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0128% | 1h | 1.1900 | −0.251% | $183K | $1.8M | 50x | as long as short |
| Kraken Futures PF_DOTUSD | −0.0054% | 1h | 1.1937 | +0.057% | $4.5M | $1.3M | 50x | as long as short |
| Injective DOT/USDC PERP | −0.0040% | 1h | 1.2020 | +0.754% | $328 | $121K | 12x | as long as short |
| OKX DOT-USDT-SWAP | −0.0024% | 8h | 1.1941 | +0.092% | $9.4M | $23.4M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1916 | −0.117% | $143K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.1926 | −0.032% | $5K | — | 150x | as long as short |
| KuCoin DOTUSDTM | +0.0016% | 8h | 1.1925 | −0.042% | $6.8M | $8.7M | 75x | as long as short |
| Extended DOT-USD | +0.0048% | 1h | 1.1918 | −0.097% | $15K | $235K | 25x | as long as short |
Deribit DOT_USDC-PERPETUAL
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
Extended DOT-USDShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance DOTUSDT | +0.0050% | 8h | 1.1937 | +0.059% | $44.0M | $80.8M | 75x | as long as short |
| MEXC DOT_USDT | +0.0052% | 8h | 1.1926 | −0.034% | $35.7M | $35.6M | 300x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.1929 | −0.010% | $250K | $593K | 10x | as long as short |
| Hyperliquid DOT | +0.0100% | 1h | 1.1943 | +0.109% | $5.3M | $3.2M | 10x | as long as short |
| Aster DOTUSDT | +0.0100% | 8h | 1.1916 | −0.118% | $885K | $649K | 50x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.1940 | +0.084% | $24.4M | $17.9M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.1930 | 0.000% | $6.8M | $11.3M | 75x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.1930 | 0.000% | $22.8M | $14.0M | 75x | as long as short |
| BingX DOT-USDC | +0.0100% | 8h | 1.1920 | −0.084% | — | $1.3M | — | as long as short |
| Backpack DOT_USDC_PERPshort | +0.0100% | 1h | 1.1937 | +0.059% | $99K | $127K | 10x | |
| Variational Omni DOT | +0.0100% | 8h | 1.1901 | −0.242% | $541K | $92K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.1893 | −0.307% | $35K | $331K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.1897 | −0.276% | $230K | $469K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.1920 | −0.084% | $8K | $25K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.1927 | −0.025% | $2K | $1.2M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.1892 | −0.319% | $245K | $219K | 75x | as long as short |
| BloFin DOT-USDT | +0.0170% | 8h | 1.1929 | −0.008% | $2.3M | $762K | 75x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0297% / S −0.0774% | 1h | 1.1921 | −0.076% | $22K | — | 100x | as long as short |
| Phemex DOTUSDTlong | +0.0359% | 8h | 1.1930 | long leg | $2.2M | $2.1M | 50x |
Binance DOTUSDT
MEXC DOT_USDT
Lighter DOT
Hyperliquid DOT
Aster DOTUSDT
Bybit DOTUSDT
Gate DOT_USDT
Bitget DOTUSDT
BingX DOT-USDC
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]