Funding you earn now, next payment 00:00 UTC+0.0130%/8h= +14.2% APRnext payment +$1.30 per $10,000 · paid last 24h +0.021%
Price spread now: Phemex against Bitget−0.010%56s7-day average +0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$85as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$880.877% of the position
Funding, last 7 days+0.031%+$3 on $10k
+Price spread, last 3 days (all we have)+0.043%+$4 · spread now −0.010%, 7d avg +0.013%
=Funding pays, the price is against you. Phemex is 0.023% cheaper against Bitget than usual: you would sell low and buy high (spread −0.010% now, against its 7-day average of +0.013%). If the spread goes back, that is −$2 on $10k: about 14 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.031% in total) that is about 5.2 days. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget FILUSDT | 0.9761 | −0.0030 | get 0.0030% / 8h | 2h 43m | $10.7M | $22.0M | 75x |
| Short | Phemex FILUSDT | 0.9760 | 0.0100 | get 0.0100% / 8h | 2h 43m | $1.0M | $2.2M | 50x |
Bitget FILUSDT
Phemex FILUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bitget. 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
- $27.3
- Price spread: −0.010% → +0.013%
- −$2.27
- Slippage, 4 orders
- −$63.66
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$62.64
- Costs to cover
- 0.877%
- Break-even
- 23.1 days
Slippage from Bitget: live order book, 5 min ago; Phemex: live order book, 5 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 Bitget live order book, 5 min ago | 1.03 bp | 11.9 bp −$12 | 14.4 bp −$144 | 46.5 bp −$4,648 | doesn't fit |
| Sell Phemex live order book, 5 min ago | 5.13 bp | 28.8 bp −$29 | 113.8 bp −$1,138 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit FIL_USDC-PERPETUAL | −0.0874% | 1h | 0.9773 | +0.123% | $168K | $23K | 25x | as long as short |
| Kraken Futures PF_FILUSD | −0.0628% | 1h | 0.9760 | −0.012% | $1.4M | $2.2M | 50x | as long as short |
| Lighter FIL | −0.0472% | 1h | 0.9757 | −0.043% | $156K | $332K | 5x | as long as short |
| Coinbase International FIL-PERP-INTX | −0.0328% | 1h | 0.9755 | −0.061% | $312K | $1.9M | 50x | as long as short |
| Bybit FILUSDT | −0.0084% | 8h | 0.9765 | +0.041% | $15.3M | $18.0M | 25x | as long as short |
| Variational Omni FIL | −0.0037% | 8h | 0.9748 | −0.138% | $433K | $276K | — | as long as short |
| Bitget FILUSDTlong | −0.0030% | 8h | 0.9761 | long leg | $10.7M | $22.0M | 75x | |
| Hyperliquid FIL | −0.0010% | 1h | 0.9766 | +0.046% | $8.6M | $9.4M | 5x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9766 | +0.050% | $24K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9765 | +0.044% | $57K | $2K | 10x | as long as short |
Deribit FIL_USDC-PERPETUAL
Kraken Futures PF_FILUSD
Lighter FIL
Coinbase International FIL-PERP-INTX
Bybit FILUSDT
Variational Omni FIL
Hyperliquid FIL
gTrade (Gains Network) FIL/USD
dYdX FIL-USDShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX FIL-USDT-SWAP | +0.0013% | 8h | 0.9761 | 0.000% | $18.0M | $95.9M | 50x | as long as short |
| Injective FIL/USDC PERP | +0.0033% | 1h | 0.9751 | −0.102% | $2K | $148K | 12x | as long as short |
| KuCoin FILUSDTM | +0.0037% | 8h | 0.9760 | −0.010% | $7.3M | $7.1M | 50x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9771 | +0.101% | $484K | $507K | 20x | as long as short |
| Binance FILUSDT | +0.0100% | 8h | 0.9759 | −0.020% | $55.8M | $175.9M | 75x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9764 | +0.031% | $7.8M | $16.2M | 50x | as long as short |
| MEXC FIL_USDC | +0.0100% | 8h | 0.9757 | −0.041% | $248K | $104K | 50x | as long as short |
| BingX FIL-USDC | +0.0100% | 8h | 0.9762 | +0.010% | — | $6.5M | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9744 | −0.179% | $45K | $294K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9744 | −0.169% | $285K | $823K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9750 | −0.113% | $42K | $193K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9772 | +0.110% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9740 | −0.215% | $3K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9756 | −0.051% | $477 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9766 | +0.051% | $615K | $5.7M | 75x | as long as short |
| Phemex FILUSDTshort | +0.0100% | 8h | 0.9760 | −0.010% | $1.0M | $2.2M | 50x | |
| Extended FIL-USD | +0.0104% | 1h | 0.9765 | +0.036% | $678K | $2.3M | 10x | as long as short |
| BloFin FIL-USDT | +0.0220% | 8h | 0.9744 | −0.174% | $2.6M | $617K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0612% / S −0.0849% | 1h | 0.9765 | +0.039% | $207K | — | 100x | as long as short |
OKX FIL-USDT-SWAP
Injective FIL/USDC PERP
KuCoin FILUSDTM
Aster FILUSDT
Binance FILUSDT
Gate FIL_USDT
MEXC FIL_USDC
BingX FIL-USDC
edgeX FILUSDC
GRVT FIL_USDT_Perp
ApeX Omni FILUSDT
Orderly PERP_FIL_USDC_mythos
SunX FIL-USDT
SoDEX FIL-USD
HTX FIL-USDT
Extended FIL-USD
BloFin FIL-USDT
GMX FIL/USD [WBTC.b-USDC]