Funding you earn now, next payment 04:00 UTC+0.0057%/8h= +6.2% APRpaid last 24h +0.045%
Price spread now: Phemex against Kraken Futures−0.119%7-day average −0.051% · 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−$115as in the Price arb table
costs, in and out, $10k−$1081.082% of the position
Funding, last 7 days+0.233%+$23 on $10k
+Price spread, last 4 days (all we have)+0.054%+$5 · spread now −0.119%, 7d avg −0.051%
=Funding pays, the price is against you. Phemex is 0.068% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.119% now, against its 7-day average of −0.051%). If the spread goes back, that is −$7 on $10k: about 4.0 days of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_FILUSD | 0.9992 | 0.0043 | pay 0.0005% / 1h | 21m 36s | $1.4M | $2.3M | 50x |
| Short | Phemex FILUSDT | 0.9980 | 0.0100 | get 0.0100% / 8h | 4h 21m | $1.2M | $2.5M | 50x |
Kraken Futures PF_FILUSD
Phemex FILUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Kraken Futures. 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
- $11.89
- Price spread: −0.119% → −0.051%
- −$6.85
- Slippage, 4 orders
- −$86.18
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$103.14
- Costs to cover
- 1.082%
- Break-even
- 67.7 days
Slippage from Kraken Futures: live order book, 2 min ago; Phemex: live order book, 2 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 Kraken Futures live order book, 2 min ago | 5.00 bp | 13.9 bp −$14 | 30.9 bp −$309 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 15.02 bp | 40.9 bp −$41 | 104.4 bp −$1,044 | 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 | −0.0650% | 1h | 0.9996 | +0.041% | $172K | $23K | 25x | as long as short |
| Coinbase International FIL-PERP-INTX | −0.0208% | 1h | 1.0000 | +0.081% | $368K | $2.1M | 50x | as long as short |
| OKX FIL-USDT-SWAP | −0.0057% | 8h | 0.9982 | −0.099% | $18.5M | $104.8M | 50x | as long as short |
| KuCoin FILUSDTM | −0.0011% | 8h | 0.9982 | −0.099% | $7.3M | $7.5M | 50x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9993 | +0.016% | $26K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9986 | −0.064% | $58K | $2K | 10x | as long as short |
| Injective FIL/USDC PERP | +0.0033% | 1h | 0.9855 | −1.370% | $2K | $240K | 12x | as long as short |
| Kraken Futures PF_FILUSDlong | +0.0043% | 1h | 0.9992 | long leg | $1.4M | $2.3M | 50x | |
| Lighter FIL | +0.0096% | 1h | 0.9981 | −0.112% | $155K | $362K | 5x | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 0.9989 | −0.025% | $8.5M | $9.5M | 5x | as long as short |
Deribit FIL_USDC-PERPETUAL
Coinbase International FIL-PERP-INTX
OKX FIL-USDT-SWAP
KuCoin FILUSDTM
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
Injective FIL/USDC PERP
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 | 0.9985 | −0.066% | $514K | $606K | 20x | as long as short |
| Binance FILUSDT | +0.0100% | 8h | 0.9977 | −0.149% | $57.4M | $183.2M | 75x | as long as short |
| Bybit FILUSDT | +0.0100% | 8h | 0.9980 | −0.119% | $15.7M | $20.0M | 25x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9986 | −0.059% | $8.5M | $16.7M | 50x | as long as short |
| MEXC FIL_USDC | +0.0100% | 8h | 0.9979 | −0.129% | $242K | $104K | 50x | as long as short |
| Bitget FILUSDT | +0.0100% | 8h | 0.9978 | −0.139% | $11.2M | $20.3M | 75x | as long as short |
| BingX FIL-USDT | +0.0100% | 8h | 0.9978 | −0.139% | — | $11.8M | — | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 1.0001 | +0.087% | $450K | $264K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9994 | +0.019% | $45K | $295K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9993 | +0.010% | $297K | $974K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 1.0020 | +0.281% | $30K | $181K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9999 | +0.075% | $4K | $798 | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 1.0000 | +0.081% | $2K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9987 | −0.049% | $484 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 1.0009 | +0.171% | $627K | $5.8M | 75x | as long as short |
| Phemex FILUSDTshort | +0.0100% | 8h | 0.9980 | −0.119% | $1.2M | $2.5M | 50x | |
| Extended FIL-USD | +0.0104% | 1h | 0.9977 | −0.154% | $711K | $3.3M | 10x | as long as short |
| BloFin FIL-USDT | +0.0219% | 8h | 0.9995 | +0.031% | $2.7M | $661K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0574% / S −0.0237% | 1h | 0.9993 | +0.007% | $267K | — | 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]