Funding you earn now, next payment 08:00 UTC−0.0196%/8h= −21.5% APRnext payment −$0.98 per $10,000 · paid last 24h −0.005%
Price spread now: Phemex against MEXC+0.037%7-day average −0.023% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$86as in the Price arb table
costs, in and out, $10k−$910.915% of the position
Funding, last 5 days (all we have)+0.036%+$4 on $10k
+Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.037%, 7d avg −0.023%
=The price spread pays, funding is against you. Phemex is 0.060% dearer against MEXC than usual: you sell high and buy low (spread +0.037% now, against its 7-day average of −0.023%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 24 hours.
The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.036% in total (about 2.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.98 per $10,000. 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 | MEXC SYN_USDT | 0.2464 | 0.0296 | pay 0.0148% / 4h | 2h 23m | $3.2M | $7.8M | 50x |
| Short | Phemex SYNUSDT | 0.2465 | 0.0100 | get 0.0050% / 4h | 2h 23m | $1.6M | $1.8M | 50x |
MEXC SYN_USDT
Phemex SYNUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against MEXC. 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
- −$41.16
- Price spread: +0.037% → −0.023%
- $5.96
- Slippage, 4 orders
- −$79.49
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$126.68
- Costs to cover
- 0.915%
- Break-even
- never at this rate
Slippage from MEXC: live order book, 5 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 MEXC live order book, 5 min ago | 2.03 bp | 4.8 bp −$5 | 40.7 bp −$407 | 351.9 bp −$35.2K | 630.7 bp −$315.3K |
| Sell Phemex live order book, 5 min ago | 2.63 bp | 45.4 bp −$45 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget SYNUSDT | +0.0100% | 4h | 0.2467 | +0.134% | $1.4M | $3.1M | 10x | as long as short |
| Orderly PERP_SYN_USDC_mythos | +0.0100% | 4h | 0.2466 | +0.085% | $3K | $37K | 10x | as long as short |
| Phemex SYNUSDTshort | +0.0100% | 4h | 0.2465 | +0.037% | $1.6M | $1.8M | 50x | |
| MEXC SYN_USDTlong | +0.0296% | 4h | 0.2464 | long leg | $3.2M | $7.8M | 50x | |
| Binance SYNUSDT | +0.0296% | 4h | 0.2473 | +0.362% | $12.4M | $42.3M | 10x | as long as short |
| BingX SYN-USDT | +0.0298% | 4h | 0.2467 | +0.142% | — | $3.3M | — | as long as short |
| Aster SYNUSDT | +0.1924% | 4h | 0.2465 | +0.041% | $2.9M | $979K | 5x | as long as short |
| Kraken Futures PF_SYNUSD | +0.2002% | 1h | 0.2468 | +0.147% | $203K | $718K | 10x | as long as short |
Bitget SYNUSDT
Orderly PERP_SYN_USDC_mythos
Binance SYNUSDT
BingX SYN-USDT
Aster SYNUSDT
Kraken Futures PF_SYNUSD