Funding you earn now, next payment 00:00 UTC−0.0472%/8h= −51.7% APRpaid last 24h −0.116%
Price spread now: Phemex against GMX+0.080%7-day average −0.043% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.179%−$18 on $10k
+Price spread, last 3 days (all we have)−0.124%−$12 · spread now +0.080%, 7d avg −0.043%
=The price spread pays, funding is against you. Phemex is 0.123% dearer against GMX than usual: you sell high and buy low (spread +0.080% now, against its 7-day average of −0.043%): +$12 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 3 days (−0.179% in total) that is about 2.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX FIL/USD [WBTC.b-USDC] | 0.9892 | L +0.0572% / S −0.0666% | pay 0.0071% / 1h | 49m 18s | $197K | — | 100x |
| Short | Phemex FILUSDT | 0.9900 | 0.0100 | get 0.0100% / 8h | 49m 18s | $1.1M | $2.3M | 50x |
GMX FIL/USD [WBTC.b-USDC]
Phemex FILUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against GMX. 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
- −$99.12
- Price spread: +0.080% → −0.043%
- $12.31
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$110.8
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: GMX: 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 GMX no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 4 min ago | 10.07 bp | 30.6 bp −$31 | 108.8 bp −$1,088 | doesn't fit | doesn't fit |
GMX: 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 | −0.1062% | 1h | 0.9892 | −0.001% | $170K | $23K | 25x | as long as short |
| Kraken Futures PF_FILUSD | −0.0393% | 1h | 0.9891 | −0.013% | $1.3M | $2.4M | 50x | as long as short |
| Coinbase International FIL-PERP-INTX | −0.0352% | 1h | 0.9907 | +0.151% | $320K | $1.9M | 50x | as long as short |
| Injective FIL/USDC PERP | −0.0245% | 1h | 0.9855 | −0.375% | $2K | $240K | 12x | as long as short |
| KuCoin FILUSDTM | −0.0005% | 8h | 0.9892 | −0.001% | $7.4M | $7.1M | 50x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9894 | +0.022% | $25K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9905 | +0.129% | $58K | $2K | 10x | as long as short |
| OKX FIL-USDT-SWAP | +0.0025% | 8h | 0.9882 | −0.102% | $18.2M | $98.6M | 50x | as long as short |
| Bitget FILUSDT | +0.0026% | 8h | 0.9884 | −0.082% | $11.0M | $21.5M | 75x | as long as short |
| Bybit FILUSDT | +0.0045% | 8h | 0.9886 | −0.062% | $15.4M | $18.2M | 25x | as long as short |
Deribit FIL_USDC-PERPETUAL
Kraken Futures PF_FILUSD
Coinbase International FIL-PERP-INTX
Injective FIL/USDC PERP
KuCoin FILUSDTM
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
OKX FIL-USDT-SWAP
Bitget FILUSDT
Bybit FILUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance FILUSDT | +0.0062% | 8h | 0.9884 | −0.082% | $57.3M | $177.8M | 75x | as long as short |
| MEXC FIL_USDC | +0.0062% | 8h | 0.9885 | −0.072% | $251K | $103K | 50x | as long as short |
| Extended FIL-USD | +0.0064% | 1h | 0.9879 | −0.132% | $693K | $2.3M | 10x | as long as short |
| BingX FIL-USDT | +0.0068% | 8h | 0.9889 | −0.031% | — | $11.9M | — | as long as short |
| Lighter FIL | +0.0080% | 1h | 0.9880 | −0.123% | $159K | $347K | 5x | as long as short |
| Gate FIL_USDT | +0.0096% | 8h | 0.9891 | −0.011% | $7.9M | $16.2M | 50x | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 0.9891 | −0.006% | $8.6M | $9.5M | 5x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9894 | +0.022% | $498K | $529K | 20x | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 0.9911 | +0.194% | $441K | $277K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9906 | +0.141% | $45K | $293K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9909 | +0.166% | $289K | $807K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9910 | +0.181% | $30K | $197K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9895 | +0.031% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9890 | −0.021% | $3K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9885 | −0.072% | $486 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9894 | +0.019% | $632K | $5.6M | 75x | as long as short |
| Phemex FILUSDTshort | +0.0100% | 8h | 0.9900 | +0.080% | $1.1M | $2.3M | 50x | |
| BloFin FIL-USDT | +0.0182% | 8h | 0.9885 | −0.072% | $2.7M | $555K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC]long | L +0.0572% / S −0.0666% | 1h | 0.9892 | long leg | $197K | — | 100x |
Binance FILUSDT
MEXC FIL_USDC
Extended FIL-USD
BingX FIL-USDT
Lighter FIL
Gate FIL_USDT
Hyperliquid FIL
Aster FILUSDT
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
BloFin FIL-USDT