Funding you earn now, next payment 00:00 UTC−0.1377%/8h= −150.8% APRpaid last 24h −0.288%
Price spread now: Deribit against Phemex−0.041%7-day average −0.118% · you buy dearer than you sell
Net, funding: paid 7d − costs−$226as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$680.684% of the position
Funding, last 7 days−1.576%−$158 on $10k
+Price spread, last 3 days (all we have)−0.131%−$13 · spread now −0.041%, 7d avg −0.118%
=The price spread pays, funding is against you. Deribit is 0.076% dearer against Phemex than usual: you sell high and buy low (spread −0.041% now, against its 7-day average of −0.118%): +$8 on $10k if it goes back. Holding the pair costs −$41 a day in funding at the current rate, which eats that in about 4 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex DOTUSDT | 1.2130 | 0.0309 | pay 0.0309% / 8h | 29m 27s | $2.3M | $2.1M | 50x |
| Short | Deribit DOT_USDC-PERPETUAL | 1.2125 | −0.1068 | pay 0.0134% / 1h | 29m 27s | $222K | $117K | 50x |
Phemex DOTUSDT
Deribit DOT_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$289.25
- Price spread: −0.041% → −0.118%
- $7.64
- Slippage, 4 orders
- −$49.4
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$350.01
- Costs to cover
- 0.684%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; Deribit: live order book, 49 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, 4 min ago | 4.11 bp | 15.3 bp −$15 | 44.1 bp −$441 | 112.2 bp −$11.2K | doesn't fit |
| Sell Deribit live order book, 49 min ago | 3.72 bp | 13.8 bp −$14 | 23.9 bp −$239 | 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-PERPETUALshort | −0.1068% | 1h | 1.2125 | −0.041% | $222K | $117K | 50x | |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.2128 | −0.016% | $262 | — | — | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0056% | 1h | 1.2130 | 0.000% | $208K | $1.8M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.2143 | +0.107% | $146K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.2119 | −0.092% | $5K | — | 150x | as long as short |
| OKX DOT-USDT-SWAP | +0.0015% | 8h | 1.2129 | −0.008% | $9.6M | $24.3M | 50x | as long as short |
| Kraken Futures PF_DOTUSD | +0.0032% | 1h | 1.2122 | −0.068% | $4.5M | $1.4M | 50x | as long as short |
| Injective DOT/USDC PERP | +0.0033% | 1h | 1.2020 | −0.907% | $328 | $121K | 12x | as long as short |
| KuCoin DOTUSDTM | +0.0054% | 8h | 1.2138 | +0.066% | $6.8M | $8.8M | 75x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.2141 | +0.087% | $248K | $605K | 10x | as long as short |
Reya DOTRUSDPERP
Coinbase International DOT-PERP-INTX
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
OKX DOT-USDT-SWAP
Kraken Futures PF_DOTUSD
Injective DOT/USDC PERP
KuCoin DOTUSDTM
Lighter DOTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid DOT | +0.0100% | 1h | 1.2142 | +0.099% | $5.4M | $3.4M | 10x | as long as short |
| Aster DOTUSDT | +0.0100% | 8h | 1.2138 | +0.066% | $884K | $691K | 50x | as long as short |
| Binance DOTUSDT | +0.0100% | 8h | 1.2134 | +0.035% | $44.9M | $82.7M | 75x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.2131 | +0.008% | $25.0M | $18.6M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.2140 | +0.082% | $6.9M | $11.8M | 75x | as long as short |
| MEXC DOT_USDT | +0.0100% | 8h | 1.2136 | +0.049% | $32.0M | $39.9M | 300x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.2132 | +0.016% | $23.2M | $14.7M | 75x | as long as short |
| BingX DOT-USDT | +0.0100% | 8h | 1.2135 | +0.041% | — | $28.6M | — | as long as short |
| Backpack DOT_USDC_PERP | +0.0100% | 1h | 1.2115 | −0.124% | $97K | $131K | 10x | as long as short |
| Variational Omni DOT | +0.0100% | 8h | 1.2089 | −0.341% | $551K | $61K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.2120 | −0.084% | $35K | $334K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.2100 | −0.248% | $234K | $457K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.2110 | −0.165% | $8K | $23K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.2130 | 0.000% | $1K | $1.3M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.2123 | −0.058% | $250K | $220K | 75x | as long as short |
| Extended DOT-USD | +0.0104% | 1h | 1.2134 | +0.033% | $15K | $235K | 25x | as long as short |
| BloFin DOT-USDT | +0.0220% | 8h | 1.2100 | −0.247% | $2.3M | $788K | 75x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0303% / S −0.1012% | 1h | 1.2119 | −0.089% | $23K | — | 100x | as long as short |
| Phemex DOTUSDTlong | +0.0309% | 8h | 1.2130 | long leg | $2.3M | $2.1M | 50x |
Hyperliquid DOT
Aster DOTUSDT
Binance DOTUSDT
Bybit DOTUSDT
Gate DOT_USDT
MEXC 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
Extended DOT-USD
BloFin DOT-USDT
GMX DOT/USD [WBTC.b-USDC]