Funding you earn now, next payment 00:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.15 per $10,000 · paid last 24h −0.001%
Price spread now: Phemex against BingX−0.129%7-day average −0.065% · 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−$159as in the Price arb table
costs, in and out, $10k−$1531.528% of the position
Funding, last 5 days (all we have)+0.078%+$8 on $10k
+Price spread, last 3 days (all we have)−0.045%−$5 · spread now −0.129%, 7d avg −0.065%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.064% cheaper against BingX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.065%). Swap the legs. Mind the row above: over the last 5 days funding on this pair paid +0.078%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX SYN-USDT | 0.2634 | 0.0130 | pay 0.0065% / 4h | 2h 15m | — | $3.1M | — |
| Short | Phemex SYNUSDT | 0.2630 | 0.0100 | get 0.0050% / 4h | 2h 15m | $1.7M | $1.7M | 50x |
BingX SYN-USDT
Phemex SYNUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against BingX. 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
- −$6.3
- Price spread: −0.129% → −0.065%
- −$6.37
- Slippage, 4 orders
- −$130.8
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$165.47
- Costs to cover
- 1.528%
- Break-even
- never at this rate
Slippage from BingX: live order book, 3 min ago; Phemex: live order book, 2 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 BingX live order book, 3 min ago | 7.21 bp | 35.3 bp −$35 | 142.8 bp −$1,428 | 644.4 bp −$64.4K | doesn't fit |
| Sell Phemex live order book, 2 min ago | 8.14 bp | 45.8 bp −$46 | 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 | −0.0099% | 1h | 0.2624 | −0.372% | $211K | $483K | 10x | as long as short |
| Bitget SYNUSDT | +0.0100% | 4h | 0.2636 | +0.095% | $1.6M | $3.1M | 10x | as long as short |
| Orderly PERP_SYN_USDC_mythos | +0.0100% | 4h | 0.2624 | −0.357% | $6K | $40K | 10x | as long as short |
| Phemex SYNUSDTshort | +0.0100% | 4h | 0.2630 | −0.129% | $1.7M | $1.7M | 50x | |
| BingX SYN-USDTlong | +0.0130% | 4h | 0.2634 | long leg | — | $3.1M | — | |
| MEXC SYN_USDT | +0.0132% | 4h | 0.2633 | −0.030% | $3.3M | $7.0M | 50x | as long as short |
| Binance SYNUSDT | +0.0134% | 4h | 0.2633 | −0.045% | $13.5M | $39.3M | 10x | as long as short |
| Aster SYNUSDT | +0.1523% | 4h | 0.2638 | +0.147% | $2.9M | $811K | 5x | as long as short |
Kraken Futures PF_SYNUSD
Bitget SYNUSDT
Orderly PERP_SYN_USDC_mythos
MEXC SYN_USDT
Binance SYNUSDT
Aster SYNUSDT