Funding you earn now, next payment 05:00 UTC+0.0248%/8h= +27.2% APRpaid last 24h +0.191%
Price spread now: Phemex against Deribit−0.179%7-day average −0.067% · you buy dearer than you sell
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs−$109as in the Price arb table
costs, in and out, $10k−$980.978% of the position
Funding, last 7 days+0.458%+$46 on $10k
+Price spread, last 4 days (all we have)+0.141%+$14 · spread now −0.179%, 7d avg −0.067%
=Funding pays, the price is against you. Phemex is 0.112% cheaper against Deribit than usual: you would sell low and buy high (spread −0.179% now, against its 7-day average of −0.067%). If the spread goes back, that is −$11 on $10k: about 36 hours of funding at the current rate (+$7 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit FIL_USDC-PERPETUAL | 1.0058 | −0.0148 | get 0.0019% / 1h | 54m 58s | $173K | $23K | 25x |
| Short | Phemex FILUSDT | 1.0040 | 0.0100 | get 0.0100% / 8h | 3h 54m | $1.2M | $2.5M | 50x |
Deribit FIL_USDC-PERPETUAL
Phemex FILUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Deribit. 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
- $52.08
- Price spread: −0.179% → −0.067%
- −$11.19
- Slippage, 4 orders
- −$78.82
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$56.93
- Costs to cover
- 0.978%
- Break-even
- 14.7 days
Slippage from Deribit: live order book, 63 min ago; Phemex: live order book, 4 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 Deribit live order book, 63 min ago | 3.50 bp | 22.9 bp −$23 | 32.3 bp −$323 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 15.01 bp | 36.1 bp −$36 | 104.1 bp −$1,041 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International FIL-PERP-INTX | −0.0240% | 1h | 1.0020 | −0.378% | $367K | $2.1M | 50x | as long as short |
| Deribit FIL_USDC-PERPETUALlong | −0.0148% | 1h | 1.0058 | long leg | $173K | $23K | 25x | |
| OKX FIL-USDT-SWAP | −0.0025% | 8h | 1.0043 | −0.149% | $18.6M | $105.9M | 50x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 1.0052 | −0.056% | $26K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 1.0039 | −0.192% | $59K | $2K | 10x | as long as short |
| KuCoin FILUSDTM | +0.0011% | 8h | 1.0050 | −0.080% | $7.4M | $7.6M | 50x | as long as short |
| Injective FIL/USDC PERP | +0.0033% | 1h | 0.9855 | −2.018% | $2K | $240K | 12x | as long as short |
| Kraken Futures PF_FILUSD | +0.0066% | 1h | 1.0059 | +0.012% | $1.4M | $2.3M | 50x | as long as short |
| Lighter FIL | +0.0096% | 1h | 1.0050 | −0.084% | $155K | $354K | 5x | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 1.0059 | +0.006% | $8.5M | $9.5M | 5x | as long as short |
Coinbase International FIL-PERP-INTX
OKX FIL-USDT-SWAP
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
KuCoin FILUSDTM
Injective FIL/USDC PERP
Kraken Futures PF_FILUSD
Lighter FIL
Hyperliquid FILShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster FILUSDT | +0.0100% | 8h | 1.0050 | −0.084% | $515K | $610K | 20x | as long as short |
| Binance FILUSDT | +0.0100% | 8h | 1.0052 | −0.061% | $57.9M | $183.8M | 75x | as long as short |
| Bybit FILUSDT | +0.0100% | 8h | 1.0043 | −0.149% | $15.9M | $20.2M | 25x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 1.0056 | −0.020% | $8.5M | $16.6M | 50x | as long as short |
| MEXC FIL_USDC | +0.0100% | 8h | 1.0046 | −0.119% | $244K | $102K | 50x | as long as short |
| Bitget FILUSDT | +0.0100% | 8h | 1.0039 | −0.189% | $11.2M | $20.3M | 75x | as long as short |
| BingX FIL-USDT | +0.0100% | 8h | 1.0053 | −0.050% | — | $11.8M | — | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 1.0017 | −0.410% | $451K | $264K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9995 | −0.622% | $45K | $295K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9997 | −0.610% | $289K | $1.0M | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 1.0000 | −0.577% | $30K | $181K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 1.0058 | +0.001% | $4K | $798 | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 1.0040 | −0.179% | $3K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 1.0050 | −0.080% | $489 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 1.0060 | +0.020% | $627K | $5.8M | 75x | as long as short |
| Phemex FILUSDTshort | +0.0100% | 8h | 1.0040 | −0.179% | $1.2M | $2.5M | 50x | |
| Extended FIL-USD | +0.0104% | 1h | 1.0046 | −0.123% | $707K | $3.3M | 10x | as long as short |
| BloFin FIL-USDT | +0.0220% | 8h | 1.0021 | −0.368% | $2.7M | $668K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0576% / S −0.0237% | 1h | 1.0049 | −0.092% | $268K | — | 100x | as long as short |
Aster FILUSDT
Binance FILUSDT
Bybit FILUSDT
Gate FIL_USDT
MEXC FIL_USDC
Bitget FILUSDT
BingX FIL-USDT
Variational Omni FIL
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]