Funding you earn now, next payment 00:00 UTC−0.0053%/8h= −5.8% APRnext payment −$0.26 per $10,000 · paid last 24h −0.001%
Price spread now: Phemex against Binance−0.029%7-day average −0.061% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$119as in the Price arb table
costs, in and out, $10k−$1221.218% of the position
Funding, last 5 days (all we have)+0.039%+$4 on $10k
+Price spread, last 3 days (all we have)−0.171%−$17 · spread now −0.029%, 7d avg −0.061%
=The price spread pays, funding is against you. Phemex is 0.032% dearer against Binance than usual: you sell high and buy low (spread −0.029% now, against its 7-day average of −0.061%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.0 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance SYNUSDT | 0.2644 | 0.0153 | pay 0.0076% / 4h | 1h 23m | $13.6M | $39.4M | 10x |
| Short | Phemex SYNUSDT | 0.2643 | 0.0100 | get 0.0050% / 4h | 1h 23m | $1.7M | $1.7M | 50x |
Binance SYNUSDT
Phemex SYNUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Binance. 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
- −$11.12
- Price spread: −0.029% → −0.061%
- $3.19
- Slippage, 4 orders
- −$99.77
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$129.7
- Costs to cover
- 1.218%
- Break-even
- never at this rate
Slippage from Binance: live order book, 4 min ago; Phemex: live order book, 5 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 Binance live order book, 4 min ago | 2.08 bp | 20.8 bp −$21 | 170.8 bp −$1,708 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 6.98 bp | 35.0 bp −$35 | doesn't fit | doesn't fit | doesn't fit |
SYN on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SYNUSD | −0.0095% | 1h | 0.2643 | −0.007% | $215K | $495K | 10x | as long as short |
| Bitget SYNUSDT | +0.0100% | 4h | 0.2645 | +0.036% | $1.6M | $3.2M | 10x | as long as short |
| Orderly PERP_SYN_USDC_mythos | +0.0100% | 4h | 0.2643 | −0.014% | $4K | $42K | 10x | as long as short |
| Phemex SYNUSDTshort | +0.0100% | 4h | 0.2643 | −0.029% | $1.7M | $1.7M | 50x | |
| MEXC SYN_USDT | +0.0152% | 4h | 0.2642 | −0.063% | $3.3M | $7.1M | 50x | as long as short |
| Binance SYNUSDTlong | +0.0153% | 4h | 0.2644 | long leg | $13.6M | $39.4M | 10x | |
| BingX SYN-USDT | +0.0154% | 4h | 0.2642 | −0.074% | — | $3.1M | — | as long as short |
| Aster SYNUSDT | +0.1511% | 4h | 0.2649 | +0.192% | $3.0M | $812K | 5x | as long as short |
Kraken Futures PF_SYNUSD
Bitget SYNUSDT
Orderly PERP_SYN_USDC_mythos
MEXC SYN_USDT
BingX SYN-USDT
Aster SYNUSDT