Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.2371 | +0.0100 | pay 0.0050% / 4h | 3h 34m | $1.7M | $1.8M | 50x | Long Phemex | |
| SHORT | 0.2365 | −0.0356 | pay 0.0178% / 4h | 3h 34m | $15.6M | $8.8M | 50x | Short Bybit |
Price gap−0.253%53s
Funding gap−0.0456% /8h
Both sides work against this direction now: funding costs $14 a day on $10k and the gap is 0.223% under its 7d average. Swap the legs.
The two prices were read 53 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−$15−0.0456% /8h now · paid −0.152% over the last 7D
Price—spread −0.253%53s now · prices read too far apart to compare
Costs−$1211.206% of $10k · taker + slippage, in and out
Result—no pointsneeds both prices read together
The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.152% in total, about −0.0078%/8h on average.
Funding history
you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.
Price spread between the two exchanges
Bybit price against Phemexnow
RANGE STATS · 7D
Now−0.253%
Average—
Range—
Wider than now—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hWIF on 32 exchanges
lowest funding firstBefore you open
1 ok · 4 to watch- Watch: Thin at this size54.5 / 13.5 bpAt $10k entering Phemex costs 54.5 bp, fee and slippage, 4.0× Bybit’s.
- Note: Margin at max leverage$200 + $200Phemex 50x, Bybit 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval4h / 4hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: −$13.67Long Phemex: 6 payments, −$3.00; short Bybit: 6 payments, −$10.67.
- Watch: Prices read 53 s apart−0.253% vs −0.030%Part of this gap may be the market moving.
- Watch: Long leg is thinner$1.7M vs $15.6M OIPhemex sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCPhemex Yes · Bybit YesKYC 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−0.0078%/8h × 21 periods−$16.32
Price spreadprices read too far apart to compare—
Slippage, 4 orderslive order books−$97.59
Fee Phemex bp × 2 orders−$12.00
Fee Bybit bp × 2 orders−$11.00
Net · 7 days · $10k−$136.90
price spread not counted: prices read too far apartCosts to cover1.206%Break-evennever at this rate
Slippage: Phemex: live order book, 4 min ago; Bybit: live order book, 4 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhemex6.3354.5 bp−$54doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTBybit2.1113.5 bp−$1326.8 bp−$268129.4 bp−$12.9Kdoesn’t fit
Closing costs about the same again.
| 09-23 12:07 | Phemex | Listing | 🚀 New listing: $WIF Perps (@dogwifcoin) $WIF/USDT futures are now live on Phemex with up to 20x leverage. 🔗 Trade here: @Phemex_official on X ↗ |
| 09-23 09:31 | Phemex | Listing | new market WIFUSDT ($WIF) seen by our collector |
| 09-22 07:03 | ApeX Omni | Other | 59 up, 26 down on the ApeX board, median name +2.5%. Memecoins swept it: ethereum:0x6982508145454ce325ddbe47a25d4ec3d2311933 +25.9%, $BONK +20.5%, $WIF +20.1%, with $TAO +18.2%. $AR -15.0% is the only real casualty. This is what a short squeeze looks like on day two. @OfficialApeXdex on X ↗ |
ApeX Omni