Funding you earn now, next payment 01:00 UTC−0.0284%/8h= −31.1% APRpaid last 24h −0.026%
Price spread now: Phemex against Kraken Futures+0.015%7-day average −0.030% · you sell dearer than you buy
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$580.581% of the position
Funding, last 7 days−0.171%−$17 on $10k
+Price spread, last 3 days (all we have)−0.091%−$9 · spread now +0.015%, 7d avg −0.030%
=The price spread pays, funding is against you. Phemex is 0.045% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.015% now, against its 7-day average of −0.030%): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.171% in total) that is about 44 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.171% in total (about -8.9% a year). A funding rate is set anew for every payment. 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 | Kraken Futures PF_UNIUSD | 9.1486 | 0.0384 | pay 0.0048% / 1h | 7m 33s | $5.1M | $7.0M | 50x |
| Short | Phemex UNIUSDT | 9.1500 | 0.0100 | get 0.0100% / 8h | 7h 07m | $27.6M | $4.5M | 50x |
Kraken Futures PF_UNIUSD
Phemex UNIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Kraken Futures. 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
- −$59.6
- Price spread: +0.015% → −0.030%
- $4.49
- Slippage, 4 orders
- −$36.1
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$113.22
- Costs to cover
- 0.581%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 6 min ago; Phemex: live order book, 7 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 Kraken Futures live order book, 6 min ago | 5.46 bp | 20.1 bp −$20 | 21.9 bp −$219 | 40.2 bp −$4,018 | doesn't fit |
| Sell Phemex live order book, 7 min ago | 2.18 bp | 14.5 bp −$15 | 27.7 bp −$277 | doesn't fit | doesn't fit |
UNI on 40 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) UNI/USD | L +0.0004% / S −0.0004% | 1h | 9.1370 | −0.127% | $20K | — | 150x | as long as short |
| Injective UNI/USDC PERP | +0.0033% | 1h | 8.8300 | −3.483% | $660 | $154K | 12x | as long as short |
| 01 Exchange UNIUSD | +0.0096% | 1h | 9.1439 | −0.051% | $456 | — | 10x | as long as short |
| Nado UNI-PERP | +0.0100% | 1h | 9.1330 | −0.171% | $983K | $4.3M | 10x | as long as short |
| Aster UNIUSDT | +0.0100% | 8h | 9.1441 | −0.049% | $1.0M | $2.9M | 50x | as long as short |
| Pacifica UNI | +0.0100% | 1h | 9.1308 | −0.195% | $302K | $586K | 10x | as long as short |
| Binance UNIUSDT | +0.0100% | 8h | 9.1461 | −0.027% | $232.2M | $600.5M | 75x | as long as short |
| Bybit UNIUSDT | +0.0100% | 8h | 9.1400 | −0.094% | $103.0M | $107.2M | 75x | as long as short |
| OKX UNI-USDT-SWAP | +0.0100% | 8h | 9.1340 | −0.160% | $56.3M | $254.7M | 50x | as long as short |
| Arcus UNI-USD | +0.0100% | 1h | 9.1510 | +0.026% | $282K | $617K | 10x | as long as short |
gTrade (Gains Network) UNI/USD
Injective UNI/USDC PERP
01 Exchange UNIUSD
Nado UNI-PERP
Aster UNIUSDT
Pacifica UNI
Binance UNIUSDT
Bybit UNIUSDT
OKX UNI-USDT-SWAP
Arcus UNI-USDShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate UNI_USDT | +0.0100% | 8h | 9.1350 | −0.149% | $23.4M | $60.6M | 75x | as long as short |
| MEXC UNI_USDT | +0.0100% | 8h | 9.1390 | −0.105% | $46.9M | $24.7M | 200x | as long as short |
| KuCoin UNIUSDTM | +0.0100% | 8h | 9.1380 | −0.116% | $13.6M | $13.5M | 75x | as long as short |
| Bitget UNIUSDT | +0.0100% | 8h | 9.1360 | −0.138% | $33.6M | $42.9M | 75x | as long as short |
| BingX UNI-USDT | +0.0100% | 8h | 9.1350 | −0.149% | — | $57.0M | — | as long as short |
| Backpack UNI_USDC_PERP | +0.0100% | 1h | 9.1373 | −0.124% | $1.0M | $2.4M | 10x | as long as short |
| Variational Omni UNI | +0.0100% | 8h | 9.1470 | −0.018% | $4.2M | $4.4M | — | as long as short |
| edgeX UNIUSDC | +0.0100% | 4h | 9.1543 | +0.062% | $172K | $344K | 20x | as long as short |
| GRVT UNI_USDT_Perp | +0.0100% | 8h | 9.1560 | +0.081% | $638K | $2.6M | 10x | as long as short |
| ApeX Omni UNIUSDT | +0.0100% | 1h | 9.1520 | +0.037% | $89K | $708K | 50x | as long as short |
| StandX UNI-USD | +0.0100% | 1h | 9.1290 | −0.214% | $56K | $3.3M | 20x | as long as short |
| Polymarket Perps UNI-USD | +0.0100% | 1h | 9.1452 | −0.037% | $85K | $388K | 10x | as long as short |
| Orderly PERP_UNI_USDC | +0.0100% | 8h | 9.1320 | −0.182% | $16K | $1.7M | 10x | as long as short |
| SunX UNI-USDT | +0.0100% | 8h | 9.1445 | −0.045% | $37K | $1.3M | 30x | as long as short |
| SoDEX UNI-USD | +0.0100% | 1h | 9.1418 | −0.074% | $22K | $713K | 10x | as long as short |
| HTX UNI-USDT | +0.0100% | 8h | 9.1568 | +0.090% | $724K | $4.4M | 75x | as long as short |
| Phemex UNIUSDTshort | +0.0100% | 8h | 9.1500 | +0.015% | $27.6M | $4.5M | 50x | |
| Paradex UNI-USD-PERP | +0.0100% | 8h | 9.1353 | −0.145% | $26K | — | 20x | as long as short |
| Extended UNI-USD | +0.0104% | 1h | 9.1364 | −0.133% | $305K | $1.5M | 25x | as long as short |
| Aevo UNI-PERP | +0.0104% | 1h | 9.1386 | −0.109% | $32K | — | 3x | as long as short |
| dYdX UNI-USD | +0.0202% | 1h | 9.1292 | −0.212% | $245K | $24K | 10x | as long as short |
| BloFin UNI-USDT | +0.0220% | 8h | 9.1550 | +0.070% | $10.5M | $3.6M | 75x | as long as short |
| Coinbase International UNI-PERP-INTX | +0.0272% | 1h | 9.1500 | +0.015% | $1.1M | $4.8M | 50x | as long as short |
| Deribit UNI_USDC-PERPETUAL | +0.0280% | 1h | 9.1411 | −0.082% | $591K | $186K | 50x | as long as short |
| Reya UNIRUSDPERP | +0.0367% | 1h | 9.1287 | −0.217% | $17K | — | 20x | as long as short |
| GMX UNI/USD [UNI-USDC] | L +0.0381% / S −0.0323% | 1h | 9.1371 | −0.126% | $577K | — | 120x | as long as short |
| Kraken Futures PF_UNIUSDlong | +0.0384% | 1h | 9.1486 | long leg | $5.1M | $7.0M | 50x | |
| Hyperliquid UNI | +0.0540% | 1h | 9.1461 | −0.027% | $100.8M | $58.3M | 10x | as long as short |
| Lighter UNI | +0.0968% | 1h | 9.1521 | +0.038% | $4.7M | $5.3M | 15x | as long as short |
| Aftermath Perps UNIUSD | +0.1057% | 1h | 9.1604 | +0.129% | $924 | $49K | 10x | as long as short |
Gate UNI_USDT
MEXC UNI_USDT
KuCoin UNIUSDTM
Bitget UNIUSDT
BingX UNI-USDT
Backpack UNI_USDC_PERP
Variational Omni UNI
edgeX UNIUSDC
GRVT UNI_USDT_Perp
ApeX Omni UNIUSDT
StandX UNI-USD
Polymarket Perps UNI-USD
Orderly PERP_UNI_USDC
SunX UNI-USDT
SoDEX UNI-USD
HTX UNI-USDT
Paradex UNI-USD-PERP
Extended UNI-USD
Aevo UNI-PERP
dYdX UNI-USD
BloFin UNI-USDT
Coinbase International UNI-PERP-INTX
Deribit UNI_USDC-PERPETUAL
Reya UNIRUSDPERP
GMX UNI/USD [UNI-USDC]
Hyperliquid UNI
Lighter UNI
Aftermath Perps UNIUSD