Funding you earn now, next payment 08:00 UTC−0.0023%/8h= −2.5% APRnext payment −$0.23 per $10,000 · paid last 24h −0.029%
Price spread now: Binance against Phemex−0.151%52s7-day average +0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$103as 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−$920.916% of the position
Funding, last 7 days−0.116%−$12 on $10k
+Price spread, last 4 days (all we have)+0.162%+$16 · spread now −0.151%, 7d avg +0.010%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.161% cheaper against Phemex than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.010%). Swap the legs. The two prices were read 52 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 | Phemex FILUSDT | 0.9940 | 0.0100 | pay 0.0100% / 8h | 4h 47m | $1.1M | $2.5M | 50x |
| Short | Binance FILUSDT | 0.9925 | 0.0077 | get 0.0077% / 8h | 4h 47m | $57.6M | $182.2M | 75x |
Phemex FILUSDT
Binance FILUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. 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
- −$4.8
- Price spread: −0.151% → +0.010%
- −$16.06
- Slippage, 4 orders
- −$69.64
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$112.5
- Costs to cover
- 0.916%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 1 min ago; Binance: live order book, 11 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 Phemex live order book, 1 min ago | 10.05 bp | 31.4 bp −$31 | 101.5 bp −$1,015 | doesn't fit | doesn't fit |
| Sell Binance live order book, 11 min ago | 0.50 bp | 7.2 bp −$7 | 15.1 bp −$151 | 45.7 bp −$4,570 | 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 | −0.0553% | 1h | 0.9952 | +0.121% | $171K | $23K | 25x | as long as short |
| Coinbase International FIL-PERP-INTX | −0.0208% | 1h | 0.9960 | +0.201% | $375K | $2.1M | 50x | as long as short |
| OKX FIL-USDT-SWAP | −0.0064% | 8h | 0.9923 | −0.171% | $18.6M | $103.2M | 50x | as long as short |
| KuCoin FILUSDTM | −0.0022% | 8h | 0.9918 | −0.221% | $7.4M | $7.4M | 50x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9927 | −0.131% | $26K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9944 | +0.042% | $58K | $2K | 10x | as long as short |
| Injective FIL/USDC PERP | +0.0033% | 1h | 0.9855 | −0.855% | $2K | $240K | 12x | as long as short |
| Kraken Futures PF_FILUSD | +0.0044% | 1h | 0.9946 | +0.058% | $1.4M | $2.3M | 50x | as long as short |
| Binance FILUSDTshort | +0.0077% | 8h | 0.9925 | −0.151% | $57.6M | $182.2M | 75x | |
| Extended FIL-USD | +0.0080% | 1h | 0.9942 | +0.019% | $705K | $3.3M | 10x | 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
Kraken Futures PF_FILUSD
Extended FIL-USDShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC FIL_USDC | +0.0082% | 8h | 0.9918 | −0.221% | $240K | $103K | 50x | as long as short |
| Lighter FIL | +0.0096% | 1h | 0.9937 | −0.033% | $154K | $360K | 5x | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 0.9921 | −0.192% | $8.5M | $9.5M | 5x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9949 | +0.089% | $512K | $597K | 20x | as long as short |
| Bybit FILUSDT | +0.0100% | 8h | 0.9925 | −0.151% | $15.7M | $19.9M | 25x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9927 | −0.131% | $8.4M | $16.5M | 50x | as long as short |
| Bitget FILUSDT | +0.0100% | 8h | 0.9922 | −0.181% | $11.0M | $20.4M | 75x | as long as short |
| BingX FIL-USDT | +0.0100% | 8h | 0.9930 | −0.101% | — | $11.8M | — | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 0.9967 | +0.269% | $449K | $265K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9939 | −0.014% | $45K | $296K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9939 | −0.008% | $296K | $948K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9950 | +0.101% | $30K | $181K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9930 | −0.096% | $4K | $798 | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9950 | +0.101% | $2K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9943 | +0.030% | $475 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9965 | +0.252% | $622K | $5.8M | 75x | as long as short |
| Phemex FILUSDTlong | +0.0100% | 8h | 0.9940 | long leg | $1.1M | $2.5M | 50x | |
| BloFin FIL-USDT | +0.0197% | 8h | 0.9943 | +0.030% | $2.7M | $645K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0571% / S −0.0237% | 1h | 0.9931 | −0.094% | $265K | — | 100x | as long as short |
MEXC FIL_USDC
Lighter FIL
Hyperliquid FIL
Aster FILUSDT
Bybit FILUSDT
Gate FIL_USDT
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
BloFin FIL-USDT
GMX FIL/USD [WBTC.b-USDC]