Funding arb · Price arb /

ETC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Phemex against dYdX−0.039%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phemex is 0.039% cheaper against dYdX than usual: you would sell low and buy high (spread −0.039% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 31 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ETC-USD	8.9515	0	get 0.0000% / 1h	54m 16s	$9K	$46	10x
Short	Phemex ETCUSDT	8.9480	0.0100	get 0.0100% / 8h	54m 16s	$2.0M	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against dYdX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee dYdXbpFee PhemexbpOrdersPrice spread, now −0.039%Rate

Funding earned: $21
Price spread: −0.039% → 0.000%: −$3.91
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$4.91
Costs to cover: 0.220%
Break-even: 8.6 days

Slippage unknown: dYdX: no order-book sample; Phemex: live order book, 4 min ago. Net counts fees only.

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 dYdX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 4 min ago	2.79 bp	17.6 bp −$18	51.2 bp −$512	doesn't fit	doesn't fit

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Injective ETC/USDC PERP	−0.0293%	1h	8.8750	−0.855%	$34	$102K	5.5x	as long as short
Kraken Futures PF_ETCUSD	−0.0191%	1h	8.9498	−0.019%	$2.0M	$683K	50x	as long as short
dYdX ETC-USDlong	0.0000%	1h	8.9515	long leg	$9K	$46	10x
Deribit ETC_USDC-PERPETUAL	0.0000%	1h	8.9467	−0.054%	$507	$978	50x	as long as short
gTrade (Gains Network) ETC/USD	L +0.0006% / S −0.0006%	1h	8.9484	−0.035%	—	—	150x	as long as short
Hyperliquid ETC	+0.0100%	1h	8.9564	+0.055%	$2.3M	$428K	5x	as long as short
Aster ETCUSDT	+0.0100%	8h	8.9474	−0.045%	$1.0M	$11K	10x	as long as short
Binance ETCUSDT	+0.0100%	8h	8.9464	−0.057%	$26.7M	$68.3M	75x	as long as short
Bybit ETCUSDT	+0.0100%	8h	8.9430	−0.095%	$13.2M	$7.4M	75x	as long as short
OKX ETC-USDT-SWAP	+0.0100%	8h	8.9400	−0.128%	$8.8M	$16.7M	50x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ETC_USDT	+0.0100%	8h	8.9470	−0.050%	$3.6M	$2.4M	60x	as long as short
MEXC ETC_USDT	+0.0100%	8h	8.9470	−0.050%	$7.3M	$32.2M	200x	as long as short
KuCoin ETCUSDTM	+0.0100%	8h	8.9500	−0.017%	$2.9M	$727K	50x	as long as short
Bitget ETCUSDT	+0.0100%	8h	8.9480	−0.039%	$9.9M	$3.8M	75x	as long as short
BingX ETC-USDT	+0.0100%	8h	8.9450	−0.073%	—	$20.6M	—	as long as short
Variational Omni ETC	+0.0100%	8h	8.9438	−0.086%	$127K	$2K	—	as long as short
SoDEX ETC-USD	+0.0100%	1h	8.9420	−0.106%	$130	$5K	5x	as long as short
HTX ETC-USDT	+0.0100%	8h	8.9497	−0.020%	$134K	$269K	75x	as long as short
Phemex ETCUSDTshort	+0.0100%	8h	8.9480	−0.039%	$2.0M	$2.6M	50x
Extended ETC-USD	+0.0104%	1h	8.9447	−0.076%	$12K	$191K	25x	as long as short
BloFin ETC-USDT	+0.0220%	8h	8.9480	−0.039%	$1.4M	$218K	50x	as long as short
Coinbase International ETC-PERP-INTX	+0.0800%	1h	8.9630	+0.129%	$36K	$13K	50x	as long as short