Funding you earn now, next payment 11:00 UTC+0.0241%/8h= +26.4% APRpaid last 24h +0.034%
Price spread now: Phemex against Kraken Futures+0.002%7-day average −0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$99as in the Funding arb table
Net, price: spread back to 7d avg − costs−$106as in the Price arb table
costs, in and out, $10k−$1081.077% of the position
Funding, last 7 days+0.090%+$9 on $10k
+Price spread, last 4 days (all we have)−0.102%−$10 · spread now +0.002%, 7d avg −0.018%
=The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.090% in total (about 4.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ETCUSD | 8.5898 | −0.0141 | get 0.0018% / 1h | 30m 51s | $1.9M | $737K | 50x |
| Short | Phemex ETCUSDT | 8.5900 | 0.0100 | get 0.0100% / 8h | 5h 30m | $1.8M | $2.7M | 50x |
Kraken Futures PF_ETCUSD
Phemex ETCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Kraken Futures. 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
- $50.63
- Price spread: +0.002% → −0.018%
- $1.95
- Slippage, 4 orders
- −$85.72
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$55.13
- Costs to cover
- 1.077%
- Break-even
- 14.6 days
Slippage from Kraken Futures: live order book, 1 min ago; Phemex: live order book, 6 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 Kraken Futures live order book, 1 min ago | 6.40 bp | 23.8 bp −$24 | 63.8 bp −$638 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 6 min ago | 4.02 bp | 33.6 bp −$34 | 75.7 bp −$757 | doesn't fit | doesn't fit |
ETC on 22 exchanges
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 ETC_USDC-PERPETUAL | −0.0215% | 1h | 8.5900 | +0.002% | — | — | 50x | as long as short |
| Kraken Futures PF_ETCUSDlong | −0.0141% | 1h | 8.5898 | long leg | $1.9M | $737K | 50x | |
| Gate ETC_USDT | −0.0140% | 8h | 8.5790 | −0.126% | $3.4M | $2.9M | 60x | as long as short |
| gTrade (Gains Network) ETC/USD | L +0.0006% / S 0.0000% | 1h | 8.5820 | −0.091% | $192 | — | 150x | as long as short |
| dYdX ETC-USD | +0.0021% | 1h | 8.5652 | −0.287% | $8K | $3K | 10x | as long as short |
| Injective ETC/USDC PERP | +0.0033% | 1h | 8.8750 | +3.320% | $34 | $102K | 5.5x | as long as short |
| Bybit ETCUSDT | +0.0045% | 8h | 8.5860 | −0.045% | $12.8M | $8.9M | 75x | as long as short |
| Hyperliquid ETC | +0.0100% | 1h | 8.5945 | +0.054% | $2.4M | $551K | 5x | as long as short |
| Aster ETCUSDT | +0.0100% | 8h | 8.5898 | −0.001% | $961K | $9K | 10x | as long as short |
| Binance ETCUSDT | +0.0100% | 8h | 8.5941 | +0.050% | $25.6M | $67.3M | 75x | as long as short |
Deribit ETC_USDC-PERPETUAL
Gate ETC_USDT
gTrade (Gains Network) ETC/USD
dYdX ETC-USD
Injective ETC/USDC PERP
Bybit ETCUSDT
Hyperliquid ETC
Aster ETCUSDT
Binance ETCUSDTShow all 22 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ETC-USDT-SWAP | +0.0100% | 8h | 8.5900 | +0.002% | $8.4M | $16.2M | 50x | as long as short |
| MEXC ETC_USDT | +0.0100% | 8h | 8.5830 | −0.080% | $6.3M | $23.4M | 200x | as long as short |
| KuCoin ETCUSDTM | +0.0100% | 8h | 8.5880 | −0.021% | $2.7M | $875K | 50x | as long as short |
| Bitget ETCUSDT | +0.0100% | 8h | 8.5892 | −0.008% | $9.4M | $3.8M | 75x | as long as short |
| BingX ETC-USDC | +0.0100% | 8h | 8.5880 | −0.021% | — | $704K | — | as long as short |
| Variational Omni ETC | +0.0100% | 8h | 8.6948 | +1.222% | $122K | $5K | — | as long as short |
| SoDEX ETC-USD | +0.0100% | 1h | 8.5860 | −0.045% | $217 | $5K | 5x | as long as short |
| HTX ETC-USDT | +0.0100% | 8h | 8.5625 | −0.318% | $116K | $322K | 75x | as long as short |
| Phemex ETCUSDTshort | +0.0100% | 8h | 8.5900 | +0.002% | $1.8M | $2.7M | 50x | |
| Extended ETC-USD | +0.0104% | 1h | 8.5827 | −0.084% | $5K | $221K | 25x | as long as short |
| Coinbase International ETC-PERP-INTX | +0.0256% | 1h | 8.7300 | +1.632% | $33K | $14K | 50x | as long as short |
| BloFin ETC-USDT | +0.0400% | 8h | 8.5860 | −0.045% | $1.4M | $307K | 50x | as long as short |
OKX ETC-USDT-SWAP
MEXC ETC_USDT
KuCoin ETCUSDTM
Bitget ETCUSDT
BingX ETC-USDC
Variational Omni ETC
SoDEX ETC-USD
HTX ETC-USDT
Extended ETC-USD
Coinbase International ETC-PERP-INTX
BloFin ETC-USDT