Funding you earn now, next payment 08:00 UTC−0.0300%/8h= −32.8% APRnext payment −$3.00 per $10,000 · paid last 24h −0.036%
Price spread now: Phemex against BloFin+0.012%7-day average −0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$60as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$530.530% of the position
Funding, last 7 days−0.075%−$7 on $10k
+Price spread, last 4 days (all we have)+0.004%$0 · spread now +0.012%, 7d avg −0.026%
=The price spread pays, funding is against you. Phemex is 0.038% dearer against BloFin than usual: you sell high and buy low (spread +0.012% now, against its 7-day average of −0.026%): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.075% in total) that is about 3.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.075% in total (about -3.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.00 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin ETC-USDT | 8.6910 | 0.0400 | pay 0.0400% / 8h | 2h 20m | $1.4M | $292K | 50x |
| Short | Phemex ETCUSDT | 8.6920 | 0.0100 | get 0.0100% / 8h | 2h 20m | $2.0M | $2.9M | 50x |
BloFin ETC-USDT
Phemex ETCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against BloFin. 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
- −$63
- Price spread: +0.012% → −0.026%
- $3.79
- Slippage, 4 orders
- −$28.96
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$112.16
- Costs to cover
- 0.530%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 2 min ago; Phemex: live order book, 3 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 BloFin live order book, 2 min ago | 0.57 bp | 6.6 bp −$7 | 9.3 bp −$93 | 36.0 bp −$3,599 | doesn't fit |
| Sell Phemex live order book, 3 min ago | 1.73 bp | 15.8 bp −$16 | 47.3 bp −$473 | doesn't fit | doesn't fit |
ETC on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International ETC-PERP-INTX | −0.0456% | 1h | 8.7950 | +1.197% | $33K | $22K | 50x | as long as short |
| Kraken Futures PF_ETCUSD | −0.0203% | 1h | 8.6919 | +0.011% | $1.9M | $712K | 50x | as long as short |
| dYdX ETC-USD | 0.0000% | 1h | 8.7110 | +0.230% | $9K | $25 | 10x | as long as short |
| Deribit ETC_USDC-PERPETUAL | 0.0000% | 1h | 8.6943 | +0.038% | — | — | 50x | as long as short |
| gTrade (Gains Network) ETC/USD | L +0.0006% / S −0.0006% | 1h | 8.6987 | +0.088% | — | — | 150x | as long as short |
| Injective ETC/USDC PERP | +0.0033% | 1h | 8.8750 | +2.117% | $34 | $102K | 5.5x | as long as short |
| Hyperliquid ETC | +0.0100% | 1h | 8.7219 | +0.356% | $2.5M | $619K | 5x | as long as short |
| Aster ETCUSDT | +0.0100% | 8h | 8.7174 | +0.303% | $976K | $8K | 10x | as long as short |
| Binance ETCUSDT | +0.0100% | 8h | 8.7246 | +0.387% | $26.1M | $72.0M | 75x | as long as short |
| Bybit ETCUSDT | +0.0100% | 8h | 8.7130 | +0.253% | $13.0M | $8.6M | 75x | as long as short |
Coinbase International ETC-PERP-INTX
Kraken Futures PF_ETCUSD
dYdX ETC-USD
Deribit ETC_USDC-PERPETUAL
gTrade (Gains Network) ETC/USD
Injective ETC/USDC PERP
Hyperliquid ETC
Aster ETCUSDT
Binance ETCUSDT
Bybit ETCUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ETC-USDT-SWAP | +0.0100% | 8h | 8.7180 | +0.311% | $8.4M | $18.0M | 50x | as long as short |
| Gate ETC_USDT | +0.0100% | 8h | 8.7200 | +0.334% | $3.5M | $3.0M | 60x | as long as short |
| MEXC ETC_USDT | +0.0100% | 8h | 8.7110 | +0.230% | $6.8M | $33.2M | 200x | as long as short |
| KuCoin ETCUSDTM | +0.0100% | 8h | 8.7130 | +0.253% | $2.8M | $716K | 50x | as long as short |
| Bitget ETCUSDT | +0.0100% | 8h | 8.7222 | +0.359% | $9.6M | $3.9M | 75x | as long as short |
| BingX ETC-USDC | +0.0100% | 8h | 8.7180 | +0.311% | — | $706K | — | as long as short |
| Variational Omni ETC | +0.0100% | 8h | 8.6885 | −0.029% | $122K | $5K | — | as long as short |
| SoDEX ETC-USD | +0.0100% | 1h | 8.6930 | +0.023% | $193 | $5K | 5x | as long as short |
| HTX ETC-USDT | +0.0100% | 8h | 8.7005 | +0.109% | $117K | $306K | 75x | as long as short |
| Phemex ETCUSDTshort | +0.0100% | 8h | 8.6920 | +0.012% | $2.0M | $2.9M | 50x | |
| Extended ETC-USD | +0.0104% | 1h | 8.7117 | +0.238% | $11K | $94K | 25x | as long as short |
| BloFin ETC-USDTlong | +0.0400% | 8h | 8.6910 | long leg | $1.4M | $292K | 50x |
OKX ETC-USDT-SWAP
Gate ETC_USDT
MEXC ETC_USDT
KuCoin ETCUSDTM
Bitget ETCUSDT
BingX ETC-USDC
Variational Omni ETC
SoDEX ETC-USD
HTX ETC-USDT
Extended ETC-USD