Funding you earn now, next payment 00:00 UTC+0.0022%/8h= +2.5% APRnext payment +$0.22 per $10,000 · paid last 24h +0.022%
Price spread now: Phemex against Binance−0.051%7-day average −0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$73as in the Funding arb table
Net, price: spread back to 7d avg − costs−$89as in the Price arb table
costs, in and out, $10k−$850.852% of the position
Funding, last 7 days+0.121%+$12 on $10k
+Price spread, last 3 days (all we have)+0.072%+$7 · spread now −0.051%, 7d avg −0.013%
=Funding pays, the price is against you. Phemex is 0.038% cheaper against Binance than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of −0.013%). If the spread goes back, that is −$4 on $10k: about 5.6 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.121% in total) that is about 2.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance FILUSDT | 0.9865 | 0.0078 | pay 0.0078% / 8h | 1h 35m | $56.7M | $174.9M | 75x |
| Short | Phemex FILUSDT | 0.9860 | 0.0100 | get 0.0100% / 8h | 1h 35m | $1.1M | $2.3M | 50x |
Binance FILUSDT
Phemex FILUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Binance. 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
- $4.7
- Price spread: −0.051% → −0.013%
- −$3.76
- Slippage, 4 orders
- −$63.22
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$84.27
- Costs to cover
- 0.852%
- Break-even
- 132.4 days
Slippage from Binance: live order book, 8 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 Binance live order book, 8 min ago | 0.50 bp | 9.0 bp −$9 | 13.8 bp −$138 | 46.3 bp −$4,628 | doesn't fit |
| Sell Phemex live order book, 3 min ago | 5.06 bp | 32.5 bp −$33 | 107.0 bp −$1,070 | doesn't fit | doesn't fit |
FIL 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_FILUSD | −0.0696% | 1h | 0.9863 | −0.019% | $1.4M | $2.3M | 50x | as long as short |
| Deribit FIL_USDC-PERPETUAL | −0.0560% | 1h | 0.9869 | +0.041% | $170K | $23K | 25x | as long as short |
| Coinbase International FIL-PERP-INTX | −0.0376% | 1h | 0.9873 | +0.081% | $316K | $1.9M | 50x | as long as short |
| Injective FIL/USDC PERP | −0.0252% | 1h | 0.9855 | −0.101% | $2K | $240K | 12x | as long as short |
| Lighter FIL | −0.0024% | 1h | 0.9859 | −0.062% | $158K | $349K | 5x | as long as short |
| Bitget FILUSDT | −0.0018% | 8h | 0.9867 | +0.020% | $11.0M | $21.4M | 75x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9870 | +0.046% | $25K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9871 | +0.060% | $58K | $2K | 10x | as long as short |
| Bybit FILUSDT | +0.0002% | 8h | 0.9869 | +0.041% | $15.5M | $18.0M | 25x | as long as short |
| KuCoin FILUSDTM | +0.0012% | 8h | 0.9863 | −0.020% | $7.4M | $7.0M | 50x | as long as short |
Kraken Futures PF_FILUSD
Deribit FIL_USDC-PERPETUAL
Coinbase International FIL-PERP-INTX
Injective FIL/USDC PERP
Lighter FIL
Bitget FILUSDT
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
Bybit FILUSDT
KuCoin FILUSDTMShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX FIL-USDT-SWAP | +0.0029% | 8h | 0.9871 | +0.061% | $18.0M | $97.1M | 50x | as long as short |
| MEXC FIL_USDC | +0.0074% | 8h | 0.9857 | −0.081% | $250K | $104K | 50x | as long as short |
| Binance FILUSDTlong | +0.0078% | 8h | 0.9865 | long leg | $56.7M | $174.9M | 75x | |
| Extended FIL-USD | +0.0080% | 1h | 0.9858 | −0.068% | $689K | $2.3M | 10x | as long as short |
| BingX FIL-USDT | +0.0080% | 8h | 0.9864 | −0.010% | — | $11.9M | — | as long as short |
| Variational Omni FIL | +0.0091% | 8h | 0.9897 | +0.328% | $441K | $277K | — | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 0.9864 | −0.007% | $8.6M | $9.4M | 5x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9866 | +0.014% | $488K | $525K | 20x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9863 | −0.020% | $7.8M | $16.2M | 50x | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9867 | +0.020% | $45K | $293K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9869 | +0.038% | $287K | $803K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9890 | +0.253% | $30K | $198K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9874 | +0.087% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9860 | −0.051% | $3K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9858 | −0.071% | $485 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9872 | +0.071% | $624K | $5.6M | 75x | as long as short |
| Phemex FILUSDTshort | +0.0100% | 8h | 0.9860 | −0.051% | $1.1M | $2.3M | 50x | |
| BloFin FIL-USDT | +0.0198% | 8h | 0.9871 | +0.061% | $2.7M | $655K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0617% / S −0.0742% | 1h | 0.9869 | +0.040% | $214K | — | 100x | as long as short |
OKX FIL-USDT-SWAP
MEXC FIL_USDC
Extended FIL-USD
BingX FIL-USDT
Variational Omni FIL
Hyperliquid FIL
Aster FILUSDT
Gate FIL_USDT
edgeX FILUSDC
GRVT FIL_USDT_Perp
ApeX Omni FILUSDT
Orderly PERP_FIL_USDC_mythos
SunX FIL-USDT
SoDEX FIL-USD
HTX FIL-USDT
BloFin FIL-USDT
GMX FIL/USD [WBTC.b-USDC]