Funding you earn now, next payment 08:00 UTC−0.0098%/8h= −10.7% APRnext payment −$0.98 per $10,000 · paid last 24h −0.091%
Price spread now: Bybit against Phemex−0.172%7-day average −0.212% · you buy dearer than you sell
Net, funding: paid 7d − costs−$131as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$570.568% of the position
Funding, last 7 days−0.738%−$74 on $10k
+Price spread, last 4 days (all we have)−0.019%−$2 · spread now −0.172%, 7d avg −0.212%
=The price spread pays, funding is against you. Bybit is 0.041% dearer against Phemex than usual: you sell high and buy low (spread −0.172% now, against its 7-day average of −0.212%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 33 hours. At the pace of the last 7 days (−0.738% in total) that is about 9 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex DOTUSDT | 1.1650 | 0.0198 | pay 0.0198% / 8h | 1h 03m | $2.4M | $2.2M | 50x |
| Short | Bybit DOTUSDT | 1.1630 | 0.0100 | get 0.0100% / 8h | 1h 03m | $23.6M | $20.2M | 75x |
Phemex DOTUSDT
Bybit DOTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$20.55
- Price spread: −0.172% → −0.212%
- $4.06
- Slippage, 4 orders
- −$33.79
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$73.28
- Costs to cover
- 0.568%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 5 min ago; Bybit: 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 Phemex live order book, 5 min ago | 8.57 bp | 20.8 bp −$21 | 57.7 bp −$577 | 112.9 bp −$11.3K | doesn't fit |
| Sell Bybit live order book, 5 min ago | 0.43 bp | 9.2 bp −$9 | 15.2 bp −$152 | 95.6 bp −$9,556 | 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 | −0.3857% | 1h | 1.1638 | −0.103% | $246K | $152K | 50x | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0440% | 1h | 1.1650 | 0.000% | $170K | $2.0M | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.1632 | −0.154% | $252 | — | — | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1636 | −0.122% | $140K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.1635 | −0.132% | $3K | — | 150x | as long as short |
| Injective DOT/USDC PERP | +0.0033% | 1h | 1.2020 | +3.176% | $328 | $121K | 12x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.1636 | −0.120% | $246K | $677K | 10x | as long as short |
| Hyperliquid DOT | +0.0100% | 1h | 1.1635 | −0.129% | $5.6M | $4.6M | 10x | as long as short |
| Aster DOTUSDT | +0.0100% | 8h | 1.1644 | −0.049% | $839K | $607K | 50x | as long as short |
| Binance DOTUSDT | +0.0100% | 8h | 1.1636 | −0.118% | $42.4M | $88.8M | 75x | as long as short |
Deribit DOT_USDC-PERPETUAL
Coinbase International DOT-PERP-INTX
Reya DOTRUSDPERP
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
Injective DOT/USDC PERP
Lighter DOT
Hyperliquid DOT
Aster DOTUSDT
Binance DOTUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit DOTUSDTshort | +0.0100% | 8h | 1.1630 | −0.172% | $23.6M | $20.2M | 75x | |
| OKX DOT-USDT-SWAP | +0.0100% | 8h | 1.1633 | −0.146% | $9.0M | $25.3M | 50x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.1630 | −0.172% | $6.7M | $12.9M | 75x | as long as short |
| MEXC DOT_USDT | +0.0100% | 8h | 1.1636 | −0.120% | $35.2M | $61.9M | 300x | as long as short |
| KuCoin DOTUSDTM | +0.0100% | 8h | 1.1634 | −0.137% | $6.1M | $9.4M | 75x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.1633 | −0.146% | $22.3M | $14.8M | 75x | as long as short |
| BingX DOT-USDC | +0.0100% | 8h | 1.1634 | −0.137% | — | $1.3M | — | as long as short |
| Backpack DOT_USDC_PERP | +0.0100% | 1h | 1.1634 | −0.137% | $90K | $130K | 10x | as long as short |
| Variational Omni DOT | +0.0100% | 8h | 1.1650 | +0.004% | $530K | $51K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.1655 | +0.042% | $34K | $335K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.1654 | +0.037% | $223K | $432K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.1640 | −0.086% | $8K | $19K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.1657 | +0.060% | $2K | $1.3M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.1643 | −0.060% | $262K | $281K | 75x | as long as short |
| Extended DOT-USD | +0.0104% | 1h | 1.1630 | −0.174% | $15K | $255K | 25x | as long as short |
| Phemex DOTUSDTlong | +0.0198% | 8h | 1.1650 | long leg | $2.4M | $2.2M | 50x | |
| BloFin DOT-USDT | +0.0220% | 8h | 1.1645 | −0.043% | $1.9M | $901K | 75x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0290% / S −0.0937% | 1h | 1.1634 | −0.139% | $20K | — | 100x | as long as short |
| Kraken Futures PF_DOTUSD | +0.0328% | 1h | 1.1637 | −0.116% | $4.3M | $1.5M | 50x | as long as short |
OKX DOT-USDT-SWAP
Gate DOT_USDT
MEXC DOT_USDT
KuCoin DOTUSDTM
Bitget DOTUSDT
BingX DOT-USDC
Backpack DOT_USDC_PERP
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]
Kraken Futures PF_DOTUSD