Funding you earn now, next payment 05:00 UTC+0.0161%/8h= +17.7% APRpaid last 24h +0.282%
Price spread now: GMX against Phemex+0.089%52s7-day average +0.045% · 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)+1.250%+$125 on $10k
+Price spread, last 4 days (all we have)−0.056%−$6 · spread now +0.089%, 7d avg +0.045%
=Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and GMX is 0.044% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.045%. 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 | 0.9890 | 0.0100 | pay 0.0100% / 8h | 3h 01m | $1.2M | $2.6M | 50x |
| Short | GMX FIL/USD [WBTC.b-USDC] | 0.9899 | L +0.0587% / S −0.0261% | get 0.0033% / 1h | 1m 18s | $264K | — | 100x |
Phemex FILUSDT
GMX FIL/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX 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
- $33.91
- Price spread: +0.089% → +0.045%
- $4.41
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $14.32
- Costs to cover
- 0.240%
- Break-even
- 4.0 days
Slippage unknown: Phemex: live order book, 2 min ago; GMX: no order-book sample. 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 Phemex live order book, 2 min ago | 10.11 bp | 36.6 bp −$37 | 116.8 bp −$1,168 | doesn't fit | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
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 | −0.0860% | 1h | 0.9898 | +0.081% | $170K | $23K | 25x | as long as short |
| Coinbase International FIL-PERP-INTX | −0.0240% | 1h | 0.9883 | −0.071% | $356K | $2.1M | 50x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9899 | +0.086% | $26K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9899 | +0.086% | $58K | $2K | 10x | as long as short |
| OKX FIL-USDT-SWAP | +0.0004% | 8h | 0.9898 | +0.081% | $18.0M | $106.3M | 50x | as long as short |
| KuCoin FILUSDTM | +0.0023% | 8h | 0.9896 | +0.061% | $7.2M | $7.8M | 50x | as long as short |
| Injective FIL/USDC PERP | +0.0033% | 1h | 0.9855 | −0.354% | $2K | $240K | 12x | as long as short |
| Kraken Futures PF_FILUSD | +0.0067% | 1h | 0.9896 | +0.061% | $1.4M | $2.2M | 50x | as long as short |
| Lighter FIL | +0.0096% | 1h | 0.9889 | −0.006% | $144K | $377K | 5x | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 0.9901 | +0.115% | $8.3M | $9.5M | 5x | as long as short |
Deribit FIL_USDC-PERPETUAL
Coinbase International FIL-PERP-INTX
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
OKX FIL-USDT-SWAP
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 | 0.9904 | +0.137% | $505K | $613K | 20x | as long as short |
| Binance FILUSDT | +0.0100% | 8h | 0.9898 | +0.080% | $56.5M | $185.3M | 75x | as long as short |
| Bybit FILUSDT | +0.0100% | 8h | 0.9897 | +0.071% | $15.7M | $20.4M | 25x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9900 | +0.101% | $8.4M | $17.0M | 50x | as long as short |
| MEXC FIL_USDC | +0.0100% | 8h | 0.9899 | +0.091% | $233K | $106K | 50x | as long as short |
| Bitget FILUSDT | +0.0100% | 8h | 0.9897 | +0.071% | $11.1M | $20.4M | 75x | as long as short |
| BingX FIL-USDC | +0.0100% | 8h | 0.9895 | +0.051% | — | $6.5M | — | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 0.9939 | +0.493% | $449K | $265K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9904 | +0.138% | $45K | $297K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9925 | +0.358% | $287K | $1.1M | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9900 | +0.101% | $30K | $182K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9908 | +0.178% | $4K | $798 | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9890 | 0.000% | $3K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9892 | +0.020% | $481 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9898 | +0.081% | $614K | $5.8M | 75x | as long as short |
| Phemex FILUSDTlong | +0.0100% | 8h | 0.9890 | long leg | $1.2M | $2.6M | 50x | |
| Extended FIL-USD | +0.0104% | 1h | 0.9891 | +0.012% | $696K | $1.4M | 10x | as long as short |
| BloFin FIL-USDT | +0.0220% | 8h | 0.9920 | +0.303% | $2.7M | $702K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC]short | L +0.0587% / S −0.0261% | 1h | 0.9899 | +0.089% | $264K | — | 100x |
Aster FILUSDT
Binance FILUSDT
Bybit FILUSDT
Gate FIL_USDT
MEXC FIL_USDC
Bitget FILUSDT
BingX FIL-USDC
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