Funding you earn now, next payment 23:00 UTC−0.0352%/8h= −38.6% APRpaid last 24h +0.029%
Price spread now: Injective against Phemex−0.755%7-day average +1.704% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.053%−$5 on $10k
+Price spread, last 3 days (all we have)−0.704%−$70 · spread now −0.755%, 7d avg +1.704%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Injective is 2.459% cheaper against Phemex than usual: you would sell low and buy high (−$246 if the spread goes back to its 7-day average of +1.704%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.053% in total (about -2.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex FILUSDT | 0.9930 | 0.0100 | pay 0.0100% / 8h | 1h 09m | $1.1M | $2.3M | 50x |
| Short | Injective FIL/USDC PERP | 0.9855 | −0.0252 | pay 0.0032% / 1h | 9m 13s | $2K | $240K | 12x |
Phemex FILUSDT
Injective FIL/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$73.95
- Price spread: −0.755% → +1.704%
- −$245.91
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$331.88
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 4 min ago; Injective: 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, 4 min ago | 10.07 bp | 32.4 bp −$32 | 96.7 bp −$967 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | −0.0756% | 1h | 0.9929 | −0.010% | $171K | $23K | 25x | as long as short |
| Kraken Futures PF_FILUSD | −0.0691% | 1h | 0.9929 | −0.010% | $1.3M | $2.3M | 50x | as long as short |
| Coinbase International FIL-PERP-INTX | −0.0376% | 1h | 0.9929 | −0.010% | $319K | $1.9M | 50x | as long as short |
| Injective FIL/USDC PERPshort | −0.0252% | 1h | 0.9855 | −0.755% | $2K | $240K | 12x | |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9926 | −0.039% | $25K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9930 | +0.003% | $58K | $2K | 10x | as long as short |
| Bitget FILUSDT | +0.0008% | 8h | 0.9921 | −0.091% | $10.8M | $21.6M | 75x | as long as short |
| KuCoin FILUSDTM | +0.0014% | 8h | 0.9922 | −0.081% | $7.4M | $7.0M | 50x | as long as short |
| Bybit FILUSDT | +0.0033% | 8h | 0.9925 | −0.050% | $15.4M | $18.1M | 25x | as long as short |
| OKX FIL-USDT-SWAP | +0.0038% | 8h | 0.9923 | −0.070% | $18.2M | $98.4M | 50x | as long as short |
Deribit FIL_USDC-PERPETUAL
Kraken Futures PF_FILUSD
Coinbase International FIL-PERP-INTX
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
Bitget FILUSDT
KuCoin FILUSDTM
Bybit FILUSDT
OKX FIL-USDT-SWAPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC FIL_USDC | +0.0075% | 8h | 0.9921 | −0.091% | $252K | $105K | 50x | as long as short |
| Binance FILUSDT | +0.0076% | 8h | 0.9924 | −0.060% | $57.4M | $176.4M | 75x | as long as short |
| BingX FIL-USDT | +0.0078% | 8h | 0.9922 | −0.081% | — | $11.9M | — | as long as short |
| Extended FIL-USD | +0.0080% | 1h | 0.9918 | −0.121% | $692K | $2.3M | 10x | as long as short |
| Lighter FIL | +0.0096% | 1h | 0.9919 | −0.114% | $159K | $349K | 5x | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 0.9927 | −0.034% | $8.7M | $9.5M | 5x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9929 | −0.006% | $499K | $525K | 20x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9923 | −0.070% | $7.9M | $16.3M | 50x | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 0.9926 | −0.039% | $442K | $277K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9925 | −0.053% | $45K | $292K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9921 | −0.087% | $288K | $790K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9920 | −0.101% | $30K | $197K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9932 | +0.019% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9910 | −0.201% | $3K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9923 | −0.070% | $492 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9930 | 0.000% | $629K | $5.6M | 75x | as long as short |
| Phemex FILUSDTlong | +0.0100% | 8h | 0.9930 | long leg | $1.1M | $2.3M | 50x | |
| BloFin FIL-USDT | +0.0196% | 8h | 0.9922 | −0.081% | $2.7M | $659K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0600% / S −0.0709% | 1h | 0.9925 | −0.047% | $207K | — | 100x | as long as short |
MEXC FIL_USDC
Binance FILUSDT
BingX FIL-USDT
Extended FIL-USD
Lighter FIL
Hyperliquid FIL
Aster FILUSDT
Gate 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]