Funding you earn now, next payment 08:00 UTC−0.0040%/8h= −4.4% APRnext payment −$0.40 per $10,000 · paid last 24h −0.032%
Price spread now: MEXC against Phemex−0.061%7-day average −0.038% · you buy dearer than you sell
Net, funding: paid 7d − costs−$88as in the Funding arb table
Net, price: spread back to 7d avg − costs−$80as in the Price arb table
costs, in and out, $10k−$780.782% of the position
Funding, last 7 days−0.100%−$10 on $10k
+Price spread, last 3 days (all we have)+0.037%+$4 · spread now −0.061%, 7d avg −0.038%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and MEXC is 0.022% cheaper against Phemex than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.038%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex FILUSDT | 0.9860 | 0.0100 | pay 0.0100% / 8h | 7h 37m | $1.1M | $2.3M | 50x |
| Short | MEXC FIL_USDC | 0.9854 | 0.0060 | get 0.0060% / 8h | 7h 37m | $247K | $104K | 50x |
Phemex FILUSDT
MEXC FIL_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$8.4
- Price spread: −0.061% → −0.038%
- −$2.24
- Slippage, 4 orders
- −$66.18
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$88.82
- Costs to cover
- 0.782%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 1 min ago; MEXC: live order book, 18 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 | 15.20 bp | 29.5 bp −$30 | 93.7 bp −$937 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 18 min ago | 1.02 bp | 11.1 bp −$11 | 32.0 bp −$320 | 78.9 bp −$7,891 | 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 | −0.0560% | 1h | 0.9867 | +0.071% | $170K | $23K | 25x | as long as short |
| Kraken Futures PF_FILUSD | −0.0332% | 1h | 0.9864 | +0.036% | $1.3M | $2.4M | 50x | as long as short |
| Coinbase International FIL-PERP-INTX | −0.0328% | 1h | 0.9869 | +0.091% | $315K | $1.8M | 50x | as long as short |
| KuCoin FILUSDTM | −0.0041% | 8h | 0.9858 | −0.020% | $7.4M | $7.1M | 50x | as long as short |
| OKX FIL-USDT-SWAP | −0.0033% | 8h | 0.9857 | −0.030% | $17.9M | $98.0M | 50x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9866 | +0.062% | $25K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9871 | +0.107% | $58K | $2K | 10x | as long as short |
| Extended FIL-USD | +0.0032% | 1h | 0.9853 | −0.075% | $689K | $3.3M | 10x | as long as short |
| Binance FILUSDT | +0.0032% | 8h | 0.9856 | −0.041% | $56.9M | $178.5M | 75x | as long as short |
| Injective FIL/USDC PERP | +0.0033% | 1h | 0.9855 | −0.051% | $2K | $240K | 12x | as long as short |
Deribit FIL_USDC-PERPETUAL
Kraken Futures PF_FILUSD
Coinbase International FIL-PERP-INTX
KuCoin FILUSDTM
OKX FIL-USDT-SWAP
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
Extended FIL-USD
Binance FILUSDT
Injective FIL/USDC PERPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC FIL_USDCshort | +0.0060% | 8h | 0.9854 | −0.061% | $247K | $104K | 50x | |
| Bitget FILUSDT | +0.0062% | 8h | 0.9859 | −0.010% | $10.8M | $21.5M | 75x | as long as short |
| Lighter FIL | +0.0096% | 1h | 0.9854 | −0.057% | $159K | $346K | 5x | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 0.9857 | −0.030% | $8.5M | $9.5M | 5x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9858 | −0.025% | $493K | $553K | 20x | as long as short |
| Bybit FILUSDT | +0.0100% | 8h | 0.9858 | −0.020% | $15.3M | $18.3M | 25x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9864 | +0.041% | $8.2M | $16.1M | 50x | as long as short |
| BingX FIL-USDC | +0.0100% | 8h | 0.9857 | −0.030% | — | $6.5M | — | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 0.9882 | +0.223% | $443K | $279K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9845 | −0.154% | $45K | $293K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9847 | −0.135% | $291K | $812K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9860 | 0.000% | $30K | $195K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9870 | +0.103% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9860 | 0.000% | $3K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9855 | −0.051% | $485 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9868 | +0.081% | $631K | $5.7M | 75x | as long as short |
| Phemex FILUSDTlong | +0.0100% | 8h | 0.9860 | long leg | $1.1M | $2.3M | 50x | |
| BloFin FIL-USDT | +0.0128% | 8h | 0.9859 | −0.010% | $2.7M | $572K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0539% / S −0.0538% | 1h | 0.9866 | +0.064% | $196K | — | 100x | as long as short |
Bitget FILUSDT
Lighter FIL
Hyperliquid FIL
Aster FILUSDT
Bybit FILUSDT
Gate FIL_USDT
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
BloFin FIL-USDT
GMX FIL/USD [WBTC.b-USDC]