Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.031%

Price spread now: Phemex against gTrade (Gains Network)−0.051%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 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 0.051% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.051% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 39 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	gTrade (Gains Network) FIL/USD	0.9805	L −0.0004% / S +0.0006%	get 0.0001% / 1h	9m 23s	$24K	—	150x
Short	Phemex FILUSDT	0.9800	0.0100	get 0.0100% / 8h	2h 09m	$1.0M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee PhemexbpOrdersPrice spread, now −0.051%Rate

Funding earned: $21.88
Price spread: −0.051% → 0.000%: −$5.11
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$5.23
Costs to cover: 0.220%
Break-even: 8.7 days

Slippage unknown: gTrade (Gains Network): 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Phemex live order book, 4 min ago	10.20 bp	27.5 bp −$28	92.4 bp −$924	doesn't fit	doesn't fit

gTrade (Gains Network): 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.

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	−0.1277%	1h	0.9806	+0.010%	$169K	$23K	25x	as long as short
Kraken Futures PF_FILUSD	−0.0625%	1h	0.9805	−0.003%	$1.4M	$2.2M	50x	as long as short
Coinbase International FIL-PERP-INTX	−0.0328%	1h	0.9856	+0.520%	$315K	$1.9M	50x	as long as short
Lighter FIL	−0.0320%	1h	0.9792	−0.128%	$156K	$337K	5x	as long as short
Bybit FILUSDT	−0.0038%	8h	0.9801	−0.041%	$15.4M	$17.9M	25x	as long as short
Bitget FILUSDT	−0.0032%	8h	0.9798	−0.071%	$10.8M	$21.4M	75x	as long as short
gTrade (Gains Network) FIL/USDlong	L −0.0004% / S +0.0006%	1h	0.9805	long leg	$24K	—	150x
dYdX FIL-USD	0.0000%	1h	0.9807	+0.016%	$57K	$2K	10x	as long as short
OKX FIL-USDT-SWAP	+0.0018%	8h	0.9797	−0.082%	$18.1M	$95.5M	50x	as long as short
KuCoin FILUSDTM	+0.0022%	8h	0.9798	−0.071%	$7.3M	$7.0M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective FIL/USDC PERP	+0.0033%	1h	0.9850	+0.459%	$2K	$182K	12x	as long as short
Variational Omni FIL	+0.0037%	8h	0.9797	−0.079%	$435K	$276K	—	as long as short
Hyperliquid FIL	+0.0087%	1h	0.9799	−0.058%	$8.6M	$9.5M	5x	as long as short
Extended FIL-USD	+0.0088%	1h	0.9797	−0.081%	$685K	$2.3M	10x	as long as short
MEXC FIL_USDC	+0.0088%	8h	0.9791	−0.143%	$249K	$106K	50x	as long as short
Binance FILUSDT	+0.0088%	8h	0.9798	−0.071%	$56.3M	$174.6M	75x	as long as short
BingX FIL-USDC	+0.0098%	8h	0.9797	−0.082%	—	$6.5M	—	as long as short
Aster FILUSDT	+0.0100%	8h	0.9796	−0.092%	$485K	$514K	20x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9800	−0.051%	$7.8M	$16.4M	50x	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9795	−0.102%	$45K	$292K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9798	−0.071%	$287K	$801K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9810	+0.051%	$30K	$198K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9807	+0.017%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9800	−0.051%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9798	−0.071%	$478	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9800	−0.051%	$621K	$5.7M	75x	as long as short
Phemex FILUSDTshort	+0.0100%	8h	0.9800	−0.051%	$1.0M	$2.3M	50x
BloFin FIL-USDT	+0.0208%	8h	0.9798	−0.071%	$2.6M	$640K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0624% / S −0.0759%	1h	0.9804	−0.006%	$217K	—	100x	as long as short