Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.1125 | +0.0100 | pay 0.0050% / 4h | 2h 00m | $1.2M | $1.3M | 50x | Long Phemex | |
| SHORT | 0.1124 | +0.0058 | get 0.0007% / 1h | 0m 14s | $145K | $555K | 50x | Short ApeX Omni5% off |
Price gap−0.098%62s
Funding gap−0.0042% /8h
Both sides work against this direction now: funding costs $1 a day on $10k and the gap is 0.124% under its 7d average. Swap the legs.
The two prices were read 62 s apart: part of this gap may be the market moving.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$8−0.0042% /8h now · paid −0.079% over the last 7D
Price—spread −0.098%62s now · prices read too far apart to compare
Costs−$1031.030% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
Price and funding
1h · historyEntry / ExitApeX Omni: thin, under $1M open interest
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.098%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hPOL on 27 exchanges
lowest funding firstBefore you open
0 ok · 5 to watch- Watch: Thin at this size33.6 / 17.0 bpAt $10k entering Phemex costs 33.6 bp, fee and slippage, 2.0× ApeX Omni’s.
- Note: Margin at max leverage$200 + $200Phemex 50x, ApeX Omni 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ4h / 1hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$1.25Long Phemex: 6 payments, −$3.00; short ApeX Omni: 24 payments, +$1.75.
- Watch: Prices read 62 s apart−0.098% vs +0.026%Part of this gap may be the market moving.
- Watch: Short leg is thinner$145K vs $1.2M OIApeX Omni sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCPhemex Yes · ApeX Omni NoKYC unlocks spot and futures trading; an unverified account cannot withdraw at all.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0040%/8h × 21 periods−$8.42
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$81.03
Fee Phemex bp × 2 orders−$12.00
Fee ApeX Omni bp × 2 orders−$10.00
Net · 7 days · $10k−$111.44
price spread not counted: prices read too far apartCosts to cover1.030%Break-evennever at this rate
Slippage: Phemex: live order book, 1 min ago; ApeX Omni: live order book, 32 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhemex1.3333.6 bp−$34150.0 bp−$1,500doesn’t fitdoesn’t fit
SELL · SHORTApeX Omni8.8517.0 bp−$17123.3 bp−$1,233doesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-29 11:00 | Reya | Listing | POLRUSDPERP no longer reported ($POL) seen by our collector |
| 09-28 14:42 | Deribit | Listing | 🚨 Pre-IPO Anthropic, POL & OPG USDC Perpetuals. Now Live Deribit has launched the following USDC-settled perpetual markets: ANTH_USDC | POL_USDC | OPG_USDC Read more 👉 Disclaimer: Deribit FZE is authorised and regulated by the Virtual Assets Regulatory Authority (VARA) in Dubai. Availability of products and services is subject to applicable regulatory requirements and investor classification. Virtual Assets are subject to extreme market volatility, involve a high degree of risk, and can lose value, in part or in full. Deribit does not endorse, sponsor, or have any affiliation with Anthropic. Any use of a referenced company’s name or marks is nominative and limited to what is necessary to identify the relevant category. @DeribitOfficial on X ↗ |
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